04-19-2020, 07:44 AM
I would add to terracore's good point by noting that the airlines (Delta in particular, but also others) were particularly guilty of stock buybacks during the past few very profitable years. Instead of building up some cash reserves for a downturn they knew had to come someday, they inflated their stock prices and executive's net worth. Now that the bottom has fallen out, they expect corporate welfare to pay employees salaries. I'm not saying that the airline industry is universally guilty of this or not worthy of being saved, but they did play that game. I've seen some reports that the feds are attaching strings to the rescue money so that they could end up with equity stakes in some cases. That could get really interesting.