Why do we keep bailing out one of the richest people in the world?
www.bloomberg.com/news/articles/2020-03-16/u-s-airlines-spent-96-of-free-cash-flow-on-buybacks-chart
https://www.investmentwatchblog.com/why-do-we-keep-bailing-out-one-of-the-richest-people-in-the-world/
Saudi Prince’s $78 Million Superyacht Capsizes in Greece
The $78 million luxury superyacht belonging to Saudi Prince Turki bin Mohamed bin Fahd Al Saud recently submerged underwater in Perama, Greece, after being dropped on its side by a lift machine.
The anticipated repairs of the Nourah of Riyad piled up earlier this month after the Turkish-built yacht capsized while being lifted out of the water for repairs at the Megatechnica shipyard.
According to SuperyachtNews, there were no human injuries or pollution exposed to marine life as a result of the incident. However, the shipyard did incur damage from the ship, which was seen at a 45-degree angle after being partially submerged.
https://sputniknews.com/society/202003171078605080-photos-saudi-princes-78-million-superyacht-capsizes-in-greece-/
id-crisis, Democrat Super PAC to Spend $5 Million Attacking Trump over Coronavirus
A Democratic Party-aligned super PAC plans to spend $5 million on digital advertising to attack President Donald Trump’s handling of the coronavirus outbreak — even as the nation struggles with the growing public health threat.
The Washington Post reported Tuesday:
A Democratic super PAC said Tuesday it would spend $5 million on digital advertising flaying President Trump for his response to the novel coronavirus, one of several groups that planned to devote resources to this type of messaging.
…
McGowan said it was critical for outside groups like hers to exact a political price on Trump as his possible Democratic opponents, former vice president Joe Biden and Sen. Bernie Sanders (I-Vt.), aim to project leadership by staying above the fray.
Biden and Sanders have hardly stayed “above the fray.” Neither has offered support to the president, and both have been scathing in their attacks.
Biden — who called Trump’s January travel ban on China “hysterical” and “racist” — criticized the president and released his own plan, while opposing travel bans from China, Europe, “or any other part of the world.”
Sanders called for Trump to be replaced on the coronavirus issue by “experts” and Congress — and said he should be “shut up.”
Former Democratic Party presidential candidate Andrew Yang took a different approach on Tuesday, offering his support to the White House as it considered a temporary, emergency version of his signature campaign idea: $1,000 per month to each American household.
Another former candidate, Michael Bloomberg, pledged $40 million Tuesday to the fight against coronavirus — a small fraction of the fortune he spent on his failed campaign, which cost over half a billion dollars.
According to the Post, the $5 million ad buy is only one of several similar efforts by left-wing groups to capitalize on the coronavirus outbreak.
https://www.breitbart.com/politics/2020/03/17/mid-crisis-democrat-super-pac-to-spend-5-million-attacking-trump-over-coronavirus/
China’s Coronavirus Propaganda Copies U.S. ‘Liberal Media,’ Trump’s Travel Bans ‘Saved Us’
Gordon Chang, Daily Beast columnist and author of The Great U.S.-China Tech War, noted the parallel narratives between America’s left-wing news media and China’s state-run propaganda regarding the coronavirus outbreak. He also praised President Donald Trump’s travel ban measures in response to the viral spread, offering his analysis on Tuesday’s edition of SiriusXM’s Breitbart News Daily with host Alex Marlow.
Marlow recalled news media derision of Trump’s identification of the coronavirus’s origin in China as “racist.” Assorted news media figures and Democrat disparaged the sharing of such information as “xenophobic.”
“When did it become improper to describe a virus based off of where its origin is?” asked Marlow, reflecting on the Ebola virus being alternatively referred to as West Nile virus. “But yet, all of a sudden the president’s a racist here. It just seems like the media always does this.”
“They also suggested the travel ban from Europe was racist — even though the President’s also a Nazi, depending on who you ask, and he banned travel from Germany,” joked Marlow, “but it’s hard to keep up. [Do] you take any of it seriously … or is it just all sort of their usual talking points? ”
Chang replied, “I take this very seriously, because what China is trying to do [is] say that we’re responsible for the coronavirus, and that has enormous implications — not only between China the United States, but around the world — because it does affect our image.”
Chang added, “China is trying to divide the U.S. by slinging these charges of racism, and so therefore they’re trying to undermine the Trump administration and the president himself.”
https://www.breitbart.com/radio/2020/03/17/gordon-chang-chinas-coronavirus-propaganda-copies-u-s-liberal-media-trumps-travel-bans-saved-us/
https://www.middleeastmonitor.com/20200316-saudi-detains-300-officials-in-corruption-probe/
https://www.aljazeera.com/news/2020/03/mbs-crackdown-prompted-arrest-saudi-royals-200311143707752.html
Boeing Seeks 'Tens Of Billions' In Bailouts After Fully Drawing-Down $13Bn Credit Line
A new disclosure on Tuesday afternoon details yet another troubling development for Boeing.
In its latest 8K, the plunging planemaker has completely drawn down its $13.8 billion credit line that it entered in October 2018 as it "navigates current business challenges" exposing just how fast this company is burning through cash.
"As of March 13, 2020, Boeing has fully drawn on the Credit Agreement, consisting of approximately $13.8 billion, which amount includes additional commitments made subsequent to the initial closing date.
For additional information on the terms and conditions of the Credit Agreement, see Boeing's Current Report on Form 8-K dated February 6, 2020.
We continue to have access to revolving credit agreements entered into on October 30, 2019, which have also been disclosed. These facilities, which to date have not been drawn upon, provide us with additional liquidity as we navigate the current business challenges. For additional information on these credit facilities, see Boeing's Current Report on Form 8-K dated October 30, 2019."
This comes just hours after sources told Reuters that Boeing is seeking a bailout of 'tens of billions' in US government loan guarantees amid the Covid-19 crisis.
President Trump has already been on record telling airlines that his administration is prepared to pledge $50 billion in support after passenger activity has fallen off a cliff due to the virus scare.
Boeing was struggling before the virus outbreak, dealing with 737 Max groundings, production halts, and cancellation orders.
https://www.zerohedge.com/markets/boeing-seeks-tens-billions-us-government-loans
Justice Department Announces Antitrust Civil Process Changes for Pendency of COVID-19 Event
https://www.justice.gov/opa/pr/justice-department-announces-antitrust-civil-process-changes-pendency-covid-19-event