spin_dry Posted March 19, 2020 Share Posted March 19, 2020 Billionaire entrepreneur Mark Cuban told CNBC on Wednesday that companies that get federal assistance in response to the coronavirus crisis should be prevented from buying back stock ever again. “No buybacks. Not now. Not a year from now. Not 20 years from now. Not ever,” Cuban said on “Squawk Box.” “Because effectively you’re spending taxpayer money to buyback stock and to me that’s just the wrong way to do that.” He also said, “Whatever we do in a bailout, make sure that every worker is compensated and treated equally — in that the executives don’t get rewarded extra to stick around because they got nowhere else to go.” On Tuesday, Cuban first argued that any assistance must be designed to reduce inequality between executives and workers. “If we are going to bail out companies, we need to make sure all employees benefit from a turnaround, not just execs,” Cuban said on Twitter. Cuban, owner of the NBA’s Dallas Mavericks, said he thought any mechanisms of executive compensation — such as equity or repricing existing stock options — should only be allowed if they are offered to all workers. Cuban’s appearance on CNBC came a week after the NBA indefinitely suspended its season after a Utah Jazz player tested positive for COVID-19. Cuban said last week he “obviously was stunned” by the decision to pause the season but agreed it was the right move. Mop He said he has urged Mavericks players to take social distancing efforts seriously. Cuban also said he was putting together a program to help the Mavericks’ hourly employees who cannot work due to the suspension of games 2 Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 19, 2020 Share Posted March 19, 2020 100% spot on 1 Quote Link to comment Share on other sites More sharing options...
1jkw Posted March 19, 2020 Share Posted March 19, 2020 Agreed, without the buybacks the market would look much different. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted March 19, 2020 Gold Member Share Posted March 19, 2020 (edited) Shouldn’t be a bailout for anyone or company. A bailout should be unemployment and food stamps. Edited March 19, 2020 by BOHICA 1 Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 Good call. Any bailouts should come with a whole list of stipulations. That said, should UI for those affected by Covid-19 also come with stipulations? No cigs, no pot, no alcohol, no drugs, no fast food, no filet mignon, etc? Should Covid UI only be used for rent, utilities, WIC approved groceries, child support, etc? 1 Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 19, 2020 Share Posted March 19, 2020 5 minutes ago, AKIQPilot said: Good call. Any bailouts should come with a whole list of stipulations. That said, should UI for those affected by Covid-19 also come with stipulations? No cigs, no pot, no alcohol, no drugs, no fast food, no filet mignon, etc? Should Covid UI only be used for rent, utilities, WIC approved groceries, child support, etc? Are you kidding? UI is not welfare. We pay for it every hour we work. It’s a benefit you are entitled to. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 Just now, f7ben said: Are you kidding? UI is not welfare. We pay for it every hour we work. It’s a benefit you are entitled to. Corona virus bailout for employees is welfare Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 (edited) 17 minutes ago, BOHICA said: Shouldn’t be a bailout for anyone or company. A bailout should be unemployment and food stamps. Yep. Let them fail and re-organize. The focus of aid should be in the mechanisms ALREADY in place. Edited March 19, 2020 by Highmark Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 19, 2020 Share Posted March 19, 2020 2 minutes ago, AKIQPilot said: Corona virus bailout for employees is welfare You said UI Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 1 minute ago, f7ben said: You said UI That is the term being thrown around with regards to helping workers who may struggle during this coronavirus outbreak. Quote Link to comment Share on other sites More sharing options...
racer254 Posted March 19, 2020 Share Posted March 19, 2020 (edited) 37 minutes ago, BOHICA said: Shouldn’t be a bailout for anyone or company. A bailout should be unemployment and food stamps. 18 minutes ago, Highmark said: Yep. Let them fail and re-organize. The focus of aid should be in the mechanisms ALREADY in place. Exactly. And it ends any type of regulation or stipulation that can be manipulated for such things as a bailout. Edited March 19, 2020 by racer254 Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 19, 2020 Share Posted March 19, 2020 16 minutes ago, AKIQPilot said: That is the term being thrown around with regards to helping workers who may struggle during this coronavirus outbreak. Well states UI is a benefit ....any federal subsidy would be an entitlement. Just so we are clear. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 1 minute ago, f7ben said: Well states UI is a benefit ....any federal subsidy would be an entitlement. Just so we are clear. Agreed. So should we put restrictions on these entitlements if given out as a result of Covid-19? 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 2 minutes ago, racer254 said: Exactly. And it ends any type of regulation or stipulation that can be manipulated for such things as a bailout. I have operational insurance for things that most likely could devastate my operations. Fire, tornado's are the main but it might even cover something like this. I think its pretty short sighted if the travel industry hasn't been able to predict something like this massively impacting their operations....especially the cruise line industry. Maybe they can't get insured because of all the issues they've had in the past but maybe that's an indication of an industry that just can't work. Basically like Amtrak. Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 19, 2020 Share Posted March 19, 2020 (edited) 5 minutes ago, AKIQPilot said: Agreed. So should we put restrictions on these entitlements if given out as a result of Covid-19? I don’t think so as far as individuals are concerned. The companies were reckless with their earnings and woefully unprepared for even the slightest downturn. The individuals being impacted by layoffs are just the victims here Edited March 19, 2020 by f7ben Quote Link to comment Share on other sites More sharing options...
Matt Posted March 19, 2020 Share Posted March 19, 2020 The airlines especially can stuff it. They've been buying back their stock for ages and since the last downturn have tacked additional fees onto every goddamn thing they possibly can. Bag fees, change fees, seat selection fees. Surprised they haven't installed pay shitters. Fuck them. Let 'em bleed for a while. But just in case there is a bailout... AAL is especially cheap at the moment. 2 2 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 (edited) 7 minutes ago, f7ben said: I don’t think so as far as individuals are concerned. The companies were reckless with their earnings and woefully unprepared for even the slightest downturn. The individuals being impacted by layoffs are just the victims here Come on Ben....they are not all victims. Most people working a decent job could easily have a couple months raining day fund set aside. If you are laid off you should be eligible for unemployment. Maybe and I mean maybe a bit to cover the gap between the difference in UE wages and actual but the govt doesn't need to take care of everyone wholesale. Oh and FUCK CHINA. We need to make them fucking pay for this. Edited March 19, 2020 by Highmark 1 Quote Link to comment Share on other sites More sharing options...
snopro31 Posted March 19, 2020 Share Posted March 19, 2020 Don’t people have savings? Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 19, 2020 Share Posted March 19, 2020 12 minutes ago, Highmark said: Come on Ben....they are not all victims. Most people working a decent job could easily have a couple months raining day fund set aside. If you are laid off you should be eligible for unemployment. Maybe and I mean maybe a bit to cover the gap between the difference in UE wages and actual but the govt doesn't need to take care of everyone wholesale. Oh and FUCK CHINA. We need to make them fucking pay for this. People making 50-60k aren’t saving a dime. No retirement , no rainy day fund....nothing. You are so far removed from lower middle class it’s impossible to see. These people for the most part are poor. 1 Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 19, 2020 Share Posted March 19, 2020 Just now, snopro31 said: Don’t people have savings? Kill yourself retarded faggot 1 Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 1 minute ago, f7ben said: People making 50-60k aren’t saving a dime. No retirement , no rainy day fund....nothing. You are so far removed from lower middle class it’s impossible to see. These people for the most part are poor. Yep. Ive been saying for years that $5000/month is bordering on poverty. You told me I was fucking stupid many many times. Glad you are finally seeing the light. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 1 hour ago, BOHICA said: Shouldn’t be a bailout for anyone or company. A bailout should be unemployment and food stamps. this ! Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 1 minute ago, f7ben said: People making 50-60k aren’t saving a dime. No retirement , no rainy day fund....nothing. You are so far removed from lower middle class it’s impossible to see. These people for the most part are poor. You are wrong. People can save. They just need to limit their spending. I do agree in higher COL area's than mine it would be much, much more difficult. Have you ever listened to a second of Dave Ramsey's show? Amazing what people can do when they put their mind to it. Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 19, 2020 Share Posted March 19, 2020 1 minute ago, AKIQPilot said: Yep. Ive been saying for years that $5000/month is bordering on poverty. You told me I was fucking stupid many many times. Glad you are finally seeing the light. We were talking about in retirement without bills. 5k per month while paying for a home and raising a family and trying to have any life at all is total poverty Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 38 minutes ago, f7ben said: Well states UI is a benefit ....any federal subsidy would be an entitlement. Just so we are clear. Actualy companies pay about 1-1/4 % of payroll into federal UI. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.