State Department urges all Americans to stop foreign travel

State Department issues level four travel advisory

In a dramatic step to slow the coronavirus pandemic, the State Department on Thursday ordered Americans to avoid all foreign travel while urging citizens overseas to either return home or prepare to shelter in place. The department issued a level four health advisory as deaths in Italy for the first time surpassed those in China where the virus started. The grim statistic is the clearest sign that Europe has become the new ground zero in the crisis.

The Department also warned that Americans abroad should return as soon as possible unless they are ready to remain out of the country "for an indefinite period." "In countries where commercial departure options remain available, U.S. citizens who live in the United States should arrange for immediate return to the United States, unless they are prepared to remain abroad for an indefinite period," the advisory stated.

"U.S. citizens who live abroad should avoid all international travel. Many countries are experiencing COVID-19 outbreaks and implementing travel restrictions and mandatory quarantines, closing borders, and prohibiting non-citizens from entry with little advance notice. Airlines have cancelled many international flights and several cruise operators have suspended operations or cancelled trips. If you choose to travel internationally, your travel plans may be severely disrupted, and you may be forced to remain outside of the United States for an indefinite timeframe." Level four travel advisories are the highest level according to the State Department's website. While travel advisories usually deal with individual nations, this advisory is international in scope. Secretary of State Mike Pompeo recently said the United States will spare no effort to protect its people, and is working to get those stranded abroad home.

https://justthenews.com/government/security/state-department-americans-abroad-come-home-or-prepare-shelter-place

https://travel.state.gov/content/travel/en/traveladvisories/ea/travel-advisory-alert-global-level-4-health-advisory-issue.html

A Disgusted Nikki Haley Quits Boeing's Board In Protest Over Bailout Demand

While Boeing's shareholders await to see if they will be granted a taxpayer-funded bailout, or if all those billions they greedily pocketed from the company's stock buybacks instead of forcing the company to allocate toward a rainy day fund may have doomed if not the airplane manufacturer, which will promptly re-emerge from Chapter 11 with a clean balance sheet, then themselves, today the first casualty of the Boeing crisis emerged when Nikki Haley, the former U.S. ambassador to the United Nations, announced she was leaving Boeing’s board after less than a year, saying she opposes the planemaker’s decision to seek a U.S. bailout amid the coronavirus crisis. "I cannot support a move to lean on the federal government for a stimulus or bailout that prioritizes our company over others and relies on taxpayers to guarantee our financial position,” Haley said in a March 16 letter that Boeing disclosed late on Thursday, one day after it was revealed that the company is seeking a $60BN bailout. "I have long held strong convictions that this is not the role of government" she added.

Whatever one thinks of Haley, she is absolutely correct on on this issue: that Boeing wasted tens of billions to push its stock artificially higher by repurchasing its stock in hopes of lifting management equity-linked comp and making its shareholders richer instead of even pretending to plan for a less than perfect future is inexcusable, and no bailout of Boeing should ever be allowed. If Boeing needs the funds, it can sell stock and raise cash - the opposite of what it did for decades. If that is insufficient, Boeing should file a prepackaged Chapter 11 where the creditors take over all the equity and the company emerges from bankruptcy debt-free in one day. Without a dollar of debt, Boeing should be able to weather any disruption no matter how long, and once the economy normalizes it can rehire all the workers that had been laid off. In short, Boeing will survive but its existing shareholders will be liquidated, as they should in any system even vaguely resembling capitalism. “Covid-19 is the biggest threat of all time to the airline/aerospace ecosystem and augurs sharp production cuts and liquidity issues” for Boeing, said Cai von Rumohr, an analyst at Cowen & Co. “It’s hard to tell where the stock may bottom.”

Well, if it bottoms at 0, so be it. It's called a bankruptcy process and countless companies have emerged from it, and gone on to a prosperous, debt-free future. And with the aid of a DIP loan - whether private or public-funded - not one Boeing employee has to lose their job, especially since with a new and clean balance sheet, Boeing will no longer face an existential crisis to produce every single day. Haley, who was elected to two terms as South Carolina governor, is a rising star in Republican politics who is widely expected to consider a run for president herself in 2024. She is one of the few people who left President Donald Trump’s administration on good terms, finding ways to occasionally distance herself from the boss but remaining a steadfast supporter after announcing her resignation as U.N. ambassador in October 2018.

https://www.zerohedge.com/economics/disgusted-nikki-haley-quits-boeings-board-protest-over-bailout-demands

>>8483790

>>8483824

Larger point is possibly signaling this company, isn't too big to fail. We will be seeing much moar of this as events unfold in this financial restructuring we are currently under going. NO Corporation should be too big to fail, they should rest on their own laurels just as the rest of the country has had to do at the expense of them.