This is one of the supposed benefits of the free market. If left alone, under normal conditions, what's supposed to happen is that badly ran, uncompetitive firms end up showing themselves the door, making room for new market competitors who may not be so badly managed. Don't fucking save them, especially don't advocate for saving them if you claim to love free markets.
Look I'm fine if the govt wants to say a particular corporation is too big to fail. But trying to let that company remain private is not how too big to fail works. If you want a bailout, the govt owns your company, and the govt is obliged to maintain ownership for as long as it's deemed too big to fail...e.g. critical to national interests.
I'm so sick of companies pissing away all of their profit and money to make rich people richer then when the smallest problem hits it is our problem. We pay. Fuck them.
Looking at this (below) with some super sloppy math they have made in the last ten years 25 billion in profits and 5 billion in losses totally 20 billion in profits (give or take as my interest in totalling this accurately is zero). The fact that they used their money irresponsibly and didn't say for a raining day, or it's raining planes day, is not the tax payers that need to save them. I'm in my mid 30s, you know how many times I've seen extremely profitable and successful "too big to fail" businesses bailed out. Fuck the fucking fuckers and anyone who trys and correct my math.
https://www.macrotrends.net/stocks/charts/BA/boeing/gross-profit
Can't wait to see another multi-billion dollar corporation get bailed out while I still don't have health insurance, and I'm still paying off credit card debt from during the Pandemic when the government gave people a measly $2400 over two years but handed out PPP loans and forgiveness to anyone that asked.
Fuck this country makes me ashamed to be a veteran.
Oww, poor litlle boeing, not having enough money :C
Maybe they would still have some, if they didn't pay hitmen, they probably don't come cheap.
Let 'em die. No, fine them even more, and lock up the management.deprivatize the aerospace industry. imagine the boon to the American economy if these failing, debt-ridden, dysfunctional aerospace manufacturers and airlines were replaced by a massive jobs program with the goal of optimizing air travel safety, affordability, and access. we're a big country. we could massively benefit from an aeronautical empire that gives any person safe, enjoyable 30 dollar flights, coast to coast.
(edit, oops, forgot a prefix. wow)
Government: It's too big to fail!
Me: The last time you said that the Banks you bailed out made record profits.
here's some bootstraps mate, good luck!
also get fucked. what needs to be saved is the people from your utter disregard for human life.
you should use the last bit of your money to fly your CEO and entire management on one of your shitty planes and watch them fly through whatever fucking hole inevitably opens up.
Hrmm... I miss the part where that's my problem.
Boeing, and anyone like them, NEEDS to fail.
Hey Boeing, welcome to capitalism!
Have to laugh while dying a little inside when 'free market' people cry about banks, insurance companies, real estate, and other mega corps 'needing' bailouts.
Isn't that the essence of the free market? If companies suck shit, they die. The American people need a fucking bailout right now before another international corporation.
I guess it's time for them to break up the company and sell to others who can pick up the reins and rebuild. They made this bed. The shareholders have made their money for years and years at a cost of human lives as seen time and time again. The shareholders could always pay back the formerly ever increasing dividends they have reaped over the past 10 years if they want to bail out the company they own.
No more taxpayer bailouts for the ownership class.
I love this comments section.
"We moved all our production to non union factories across the country and put out shittier products, now we can't pay bills anymore!!"
With everything I know about Jim Cramer, that means Boeing is doing great and I should probably invest in it now
Did they try pulling themselves up by their bootstraps?
Oh no….. anyway…….
Then claw it back from the fraudulent CEO and their board of flunkees.
I believe several stocks are a complete grift and that CNBC, at the behest of whichever Hedge Fund/Market Maker greases them, is part of the disinformation dissemination scamming investors/swaying sentiment.
Locally you can usually find places that help low-income people learn to budget their money.
More like avocado hitmen.
Cramer is a crackpot moron anyway, so who the fuck cares about his shitty opinions.
if your business requires government funding in order to function, your business should be a government agency instead of a business
Capitalism as it is supposedly "intended" say whuuuut? O.O /s
Solidarity to all the workers at Boeing!
In the finance world it's called share buybacks.
You know, I caught a few minutes of his show. my grandparents were into it, I guess. Not that they ever made money off his tips, or anything. The reality is his show was a coke fueled investment-related infomercial. Like the shamwow guy, but shorter and bald-er
(in the 90's he gave an interview about how as a fund manager or whatever, he'd pay the press to run hit pieces, even. now he is the hit piece.)
Jim upset because he's probably got a looooot of stock in them. Get bent loser, hope you net losses.
I love the 'quotation' marks
For once in my life if this happens, I'll have a slightly less cynical view of the world.
Capitalism in on itself isn't bad, it can be the most efficient system for everyone to grow.
However
You need to have a solid set or rules in place that makes it work well for everyone. No monopolies, for (a simple) example, bit also if a small company does, there is bankruptcy, the the same needs to apply for a mega corporation. If a corporation is too big to fail, and require bail out then at least sack and replace the entire C suite, and upper management, no golden parachutes, no bonuses. Hell, if the company is so important that govt need to step in with billions, hold C suit personally responsible. If I fucked up and my company goed bankrupt, I can lose my house, why should a CEO get a bonus for doing the same thing but 100.000 times bigger and worse?
