Bailout Rules for Infected Corporations

Some years ago, I wrote a piece about Bombardier receiving tax-payers subsidies. In that piece I suggested some rules that should be put in place for such loans and subsidies.  As we are about to grant similar multi-billion handouts to major corporations, I thought I would repeat the rules as to how we should deal with the current crisis.

My own position is that no corporations should receive public funds, period.  However, until we straighten out our economy to be self-supporting, I would be prepared to lend affected industries the money they need, but only under certain conditions:

1. The company cannot issue dividends or share buy-backs or any other kind of profit-sharing until the loan is repaid in full;
2. No executive bonuses or similar payments to be paid until the loan is fully repaid;
3. No executive salaries or other payments to be increased until the loan is fully repaid;
4. If the company goes bankrupt (or similar), the taxpayer loan is in first place for repayment after wages and salaries.

Who on earth could object to this?  It gets the company the cash it needs and gives executives every incentive to repay the taxpayer as quickly as possible.  I would push this idea for any and all companies seeking tax-payer assistance.

Agora’s World of Work

The photography app Agora has announced the winner of their 2020 Images of Work contest. It is a stunning image:

Washing Water Lilies by @ptkhanhhvnh

 

Agora’s site displays all 50 finalists and there are some wonderful images in there.  I was most attracted to:

Working in the heights by @phamhuytrung

 

The sound of bamboo brooms by @tuan1368

Gibran’s The Prophet on Talking

You talk when you cease to be at peace with your thoughts;

And when you can no longer dwell in the solitude of your heart you live in your lips, and sound is a diversion and a pastime.

And in much of your talking, thinking is half murdered.

For thought is a bird of space, that in a cage of words many indeed unfold its wings but cannot fly.

There are those among you who seek the talkative through fear of being alone.

The silence of aloneness reveals to their eyes their naked selves and they would escape.

And there are those who talk, and without knowledge or forethought reveal a truth which they themselves do not understand.

And there are those who have the truth within them, but they tell it not in words.

In the bosom of such as these the spirit dwells in rhythmic silence.

When you meet your friend on the roadside or in the market place, let the spirit in you move your lips and direct your tongue.

Let the voice within your voice speak to the ear of his ear;

For his soul will keep the truth of your heart as the taste of the wine is remembered

When the colour is forgotten and the vessel is no more.

Image: Fall 2

Grandview 17th March 1920

“Vancouver World”, 19300317, p.20

Happy St. Patrick’s Day!

Even though most celebrations have been cancelled, Guinness can still produce an ad to carry us though.