Scholarship table
Maybe I've been reading the wrong (read: pessimistic) news sources, tweets, articles etc. but I don't trust the nearly 20% bounce from earlier this week.Stimulus/bailout package looks premature -- similar to the completely useless Fed rate cut.- Domestic COVID cases aren't relenting; NYC is shut down & anyone who can get out already has, and there's no national containment strategy.- Ca$h handouts drive short-term demand of essential goods & services but won't be enough for people to survive a prolonged shelter in place order, which would appear to be necessary to stop crazy infection rates in the absence of a vaccine.- One specific sector, but I have no idea who's buying airline equities with any confidence whatsoever. They rose to Feb 2020 peaks based on 90%+ load factors; extensive international flying, high corp demand, etc. The new normal looks like deeply limited domestic demand, unoccupied middle seats, WebEx, canceled events and curtailed international flights. I get the bailout - but DL, UA, AA are burning $50MM cash per day...
Because the bounce today is sucker money. We are nowhere near the bottom of this.
I saw a good tweet talking about the bailout money that Boeing and the airlines are getting."They have iPhones and TVs. Why should they get a handout from taxpayers?"
Bailout = Necessary evil. BA employs 150k people, which helps those people have iPhones and TVs. The “slush fund” is necessary. No share buybacks allowed. We’ve never seen an economic crisis like this in our history. Companies fail, lots of people out of work. Then what? Tax revenue also gets crushed. Deficits further abound. Imagine being a small business owner now and you have ZERO revenue coming in, 50 employees, and you are shut down indefinitely. Brutal situation. I’ve been both a small business owner and a corporate employee. Being an employee is cush AF, as compared to running a small business.
Imagine being a small business owner now and you have ZERO revenue coming in, 50 employees, and you are shut down indefinitely. Brutal situation. I’ve been both a small business owner and a corporate employee. Being an employee is cush AF, as compared to running a small business.
Yep. That’s where I am right now. As a key stakeholder in a 25 person company. We have a global business, but a key point and process to our deliverable is produced in Long Island City, so not only are orders not coming in domestically, we have to put any global orders on hold.I thought the same thing, I worked for PepsiCo before I made the move to where I am now. If I was still there, it would be the most relaxed laidback WFH situation for a month with zero worries (I worked on a pretty inelastic product segment and our group went through 3 lay-off periods during my tenure and didn’t lose a single employee).
It’s not a sucker bounce. [snip]. But this isn’t some dead cat that’s going to be completely erased next week.
Not sure where else to put this. Here seems to make a bit of sense.Delta just called us (we are a vendor) and asked to defer for 90 days a 7 figure bill that they have due next month. I am sure we were not the only vendor called.
I had my first customer send me notification that they were operating on Payment Terms Net 45 rather than any previous set terms until July 31.Still better than 90 days.I'm expecting more.
Sorry to hear that. Pathetic, absolutely f*****in pathetic on their part
At least they communicated that much. I had multiple customers with overdue invoices say some version “we won’t be making payment against overdue invoices until Covid-related business conditions improve”.My favorite were 3 diff Indian customers, each 30+ days overdue who dodged calls and requests repeatedly but responded THE DAY AFTER India’s lockdown was announced saying they couldn’t pay cause “as you know, India is on lockdown”.It’s been fun. Especially cause I know these companies have 8-9 figure annual revenues and they are withholding $5-10-15K payments
The true brave.
I also am hoping for good things for Wags and other small-business owners, but why are they "the true brave"?Nurses aren't truly brave right now? Doctors? Other health-care professionals? Firefighters and cops and soldiers aren't truly brave all the time? Not sure why you would label only small-business owners as truly brave. Seems odd. Serious question.
And of course doctors, nurses, police, firefighters encounter stressful realities - however, they don't have the stress of funding their own profession, worrying about if they are going to get paid, and able to pay others, etc.
Yeah, those people only have to risk their very life. Right now, they are being asked to care for patients with a deadly virus without a mask and little or no PPE, leading to them getting infected, possibly infecting their families, and possibly dying. I'll stick with them being the "true brave".
All of the above are noble and heroic professions as well. Wasn't meant to dis them or others. Why the "true brave?" The entrepreneur lays their own capital on the line, and to succeed has to take something from an idea to a reality. In so doing they build a business that others become dependent upon to also provide a livelihood - not to mention generate tax revenue for the public sector. Until you've had sleepless nights worrying about how you can make payroll, not lay people off - knowing they are good people and good workers - it is hard to fathom the stress.And of course doctors, nurses, police, firefighters encounter stressful realities - however, they don't have the stress of funding their own profession, worrying about if they are going to get paid, and able to pay others, etc.
My girlfriend is an ER doc. Trust me. I get it, and understand the heroism. However, she's yet to be without PPE or masks, thankfully. But yes, risking ones life trumps laying ones cash on the line. So, I stand corrected.