News Summary from Different Sources.
U.S. Capitalism 101
*American Airlines earns $7.6B/year in profit
*During boom times it upped fees & made service worse
*Instead of saving cash for rainy day it enriched execs with $15B in stock buybacks
*Now rainy day comes & airlines want a $50B bailout
American Airlines has spent more than $15B enriching its shareholders by buying back its stock in the past 6 years. Any bailout needs to be an equity investment that dilutes or wipes out existing shareholders and provides cash to pay employees. https://t.co/2uawK3pHlr
— Henry Blodget (@hblodget) March 16, 2020