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| Domagoj T:
Let me try to explain then. I, as a private individual, have a job that provides me with certain income. That income is nowhere near the amount needed to cover all my desires, so I have to budget it. After I pay for my food, clothes, electricity bills and housing, I have some left over that I can either spend on fun stuff, or tuck away in some sort of savings (stocks, socks, doesn't matter). It's usually a bit of both fun and savings. That savings is used for times when I need to buy a new washing machine, fix the car or I lose a job. I need to cut back on my pleasure spending so I have a safety net during the rainy days, because the government will not bail me out. With businesses, it's the same thing. No one will help a business overcome sudden loss of activity. Unless they are a huge corporation that is just "too big to fail". Boeing will happily pay out hundreds of millions in bonuses per year to their senior management, but will not set aside anything for rainy days. When those rains come, they expect others to pull them out of the muck. I certainly can blame the management for prioritizing their private interests over the interests of the business and the employees. |
| SilverSolder:
--- Quote from: Domagoj T on March 20, 2020, 05:41:40 pm ---Let me try to explain then. I, as a private individual, have a job that provides me with certain income. That income is nowhere near the amount needed to cover all my desires, so I have to budget it. After I pay for my food, clothes, electricity bills and housing, I have some left over that I can either spend on fun stuff, or tuck away in some sort of savings (stocks, socks, doesn't matter). It's usually a bit of both fun and savings. That savings is used for times when I need to buy a new washing machine, fix the car or I lose a job. I need to cut back on my pleasure spending so I have a safety net during the rainy days, because the government will not bail me out. With businesses, it's the same thing. No one will help a business overcome sudden loss of activity. Unless they are a huge corporation that is just "too big to fail". Boeing will happily pay out hundreds of millions in bonuses per year to their senior management, but will not set aside anything for rainy days. When those rains come, they expect others to pull them out of the muck. I certainly can blame the management for prioritizing their private interests over the interests of the business and the employees. --- End quote --- As a private individual, you have social insurance (unemployment insurance) and health care, nobody is going to be left starving. Not that I disagree with you, though, when corporations go down because of mismanagement (e.g. the Boeing Max scandal). They might try to sweep that little booboo up under cover of the corona thing. |
| SiliconWizard:
--- Quote from: Domagoj T on March 20, 2020, 05:41:40 pm ---Let me try to explain then. I, as a private individual, have a job that provides me with certain income. That income is nowhere near the amount needed to cover all my desires, so I have to budget it. After I pay for my food, clothes, electricity bills and housing, I have some left over that I can either spend on fun stuff, or tuck away in some sort of savings (stocks, socks, doesn't matter). It's usually a bit of both fun and savings. That savings is used for times when I need to buy a new washing machine, fix the car or I lose a job. I need to cut back on my pleasure spending so I have a safety net during the rainy days, because the government will not bail me out. With businesses, it's the same thing. No one will help a business overcome sudden loss of activity. --- End quote --- As SilverSolder said, in many countries you have some kind of social insurance. What you're saying here is that you are blaming some companies not to build enough "cushion" (I think this is the proper financial term). Thing is, first, you'd always have to determine how much - and in case of a major downtime, any amount you have decided on will probably not be enough to save much. Second, once a private company goes public, major decisions like this can't be made by the company's executives only. Major shareholders will get to eventually decide on things like this. Shareholders will usually prevent any company from building up too much cushion - because this is just "sleeping" cash. You're probably hoping for a complete change of system here... |
| Domagoj T:
--- Quote from: SilverSolder on March 20, 2020, 05:51:56 pm ---As a private individual, you have social insurance (unemployment insurance) and health care, nobody is going to be left starving. --- End quote --- --- Quote from: SiliconWizard on March 20, 2020, 06:19:44 pm ---As SilverSolder said, in many countries you have some kind of social insurance. --- End quote --- Sure, but since we're talking about Boeing and USA bailout, let's take a look at US numbers. There are 34 million people in US that live below poverty line. There were more than half a million people that were homeless in 2018. Social insurance does exist in theory, but it's not nearly as farm and fuzzy as the bailouts for big companies, which are sized to produced "business as usual" effect. Personal social insurance is of much lower quality. Boeing is asking for "a minimum of 60 billion for aerospace manufacturing industry", of course they are the biggest player. --- Quote from: SilverSolder on March 20, 2020, 05:51:56 pm ---Not that I disagree with you, though, when corporations go down because of mismanagement (e.g. the Boeing Max scandal). They might try to sweep that little booboo up under cover of the corona thing. --- End quote --- Seems like, for Boeing, corona is the best thing that happened since sliced bread. Thousand new airplanes are grounded, but airlines are not, or barely, operating anyway, so no pressure. --- Quote from: SiliconWizard on March 20, 2020, 06:19:44 pm ---What you're saying here is that you are blaming some companies not to build enough "cushion" (I think this is the proper financial term). Thing is, first, you'd always have to determine how much - and in case of a major downtime, any amount you have decided on will probably not be enough to save much. --- End quote --- About three months worth of operation should do it. --- Quote from: SiliconWizard on March 20, 2020, 06:19:44 pm ---Second, once a private company goes public, major decisions like this can't be made by the company's executives only. Major shareholders will get to eventually decide on things like this. Shareholders will usually prevent any company from building up too much cushion - because this is just "sleeping" cash. --- End quote --- Open market will regulate that. If your company doesn't prepare for an unforeseen event as well as competition, you'll be taken over. If you prepare better than competition, you can take them over. --- Quote from: SiliconWizard on March 20, 2020, 06:19:44 pm ---You're probably hoping for a complete change of system here... --- End quote --- Sure. I'd like to see some changes. |
| EEVblog:
--- Quote from: Domagoj T on March 20, 2020, 10:06:40 pm ---Seems like, for Boeing, corona is the best thing that happened since sliced bread. Thousand new airplanes are grounded, but airlines are not, or barely, operating anyway, so no pressure. --- End quote --- Yep :phew: Well, at least for those involved in the 737MAX. Uncle Sam will helicopter drop in some free cash, and they get oodles more time to solve the problems. |
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