Do Nothing

JM Ashby
Written by JM Ashby

(Cartoonist - Adam Zyglis)

In other news, the number of coronavirus cases in the United States increased to 10,000 this morning; double the number from two days ago.

The actual number of cases is likely far higher, it's just that testing is so limited we can't see it.

Meanwhile, the European Union's top Brexit negotiator, Michel Barnier, has tested positive for the virus. So, there's another limit on ongoing Brexit talks.

Finally, various industries are now asking Congress for up to $2 trillion in bailouts and that includes Boeing.

Boeing Co on Tuesday called for a $60 billion bailout in access to public and private liquidity, including loan guarantees, for the struggling U.S. aerospace manufacturing industry, which faces huge losses from the pandemic.

The U.S. planemaker has told lawmakers it needs significant government support to meet liquidity needs and it cannot raise that in current market conditions, people briefed on the matter said.

I know Boeing is more or less a national institution that we rely on for many things from civilian air travel to national defense and commercial satellites, but part of me also wants to tell them to get fucked and file for bankruptcy.

A Boeing bailout was floated to Congress before the coronavirus even existed because they so badly mishandled their 737 Max program. Boeing self-regulated themselves into multiple plane crashes that killed hundreds and led to canceled orders for said planes.

Rather than a bailout, Boeing should be temporarily placed into receivership.

I'm a little more sympathetic to the restaurant associations asking for a bailout because they didn't ask for this and they're far more vital to the economy.

  • Christopher Foxx

    but part of me also wants to tell them to get fucked and file for bankruptcy

    All of me does.

  • muselet

    Nationalize Boeing, disband its board of directors, then sell it to a competent company. That’s drastic, but less so than my first option, firing the board into the sun.

    I’ve been keeping a low public profile lately, not exactly sheltering in place, but staying away from people as much as possible (says every introvert in the world, “I’ve been training for this moment my entire life!”). I have also been getting takeout. It’s not going to make up for restaurants’ lost business, but it’s as much as one person can do.


  • gescove

    I’m with you. Boeing’s woes are self-inflicted. My vengeful side says tell them to get bent.

    • Christopher Foxx

      My rational side says tell them to get bent. Yes, their involved in “many things from civilian air travel to national defense and commercial satellites”, but so are many other companies. If Boeing were to vanish there would be a disruption, and then others would step in and start to fill the gap.

      And those others may be far less inclined to decide to purposefully engineer things so that people die.

      The alternative is to just make it clear to other companies that designing things knowing they will kill is ok. Hell, go ahead and do it and we’ll make the taxpayers eat the loss.