Sunday, April 18, 2010

Airline bailout anyone?

No doubt Gordon Brown will be handing over my money, before the end of the week, to corporate welfare junkies in the airline industry, due to the current Ash spillover from Iceland.

If he does, my question to Gordon will be this:

"Seeing as I was due to fly out to Singapore this week, for a week-long trip, which would otherwise have generated a significant cash-flow for my business, and perhaps offered me future opportunities, will I also be getting a bail-out?"

Well, we already know the answer to that:

"No, small fry. Your job is to pay for the bail-outs to my friends, and all their voters ... sorry, employees ... who work for them. I already know you're not voting, so why would I bail you out with your own money? So shut up, and get on with it."


Andrew said...

What a short sighted viewpoint? The banks were bailed out to the tune of billions and this crisis was caused by mis-management , fraud and greed within our banking industry. The airline industry is dominated by UK carriers who employ thousands in the UK . The volcano eruption was an act of God and the airlines were grounded by force. Not only did the airlines lose revenues but they have had to compensate passengers and pay hotel bills etc. How can this be fair? More to the point - how can Airlines survive without compensation - and if they don't, then it is more job losses and the decline of an industry where the UK is strong. The UK doesn’t really have manufacture or a very credible banking or insurance industry anymore so we should protect the airline industry in my opinion . I am sorry to hear about you business trip but this type of event should be covered by insurance? It is amazing how an "act of God" is not covered by insurance. Once again the insurance companies get away without paying compensation. Does anyone know what they actually insure? They don’t cover situations caused by industrial action or Acts of God . Yet the airlines have to pay compensation for something totally beyond their control. Something is very wrong here in my view.

Jack Maturin said...

Simple answer to this one, Andrew.

No bailouts to anyone, ever.

Not to me, not to British Airways, not to you, not to the banks, not to anyone.

Let the markets work out who is running their businesses properly, rather than central planners stealing from the successful to reward the unsuccessful.

You keep rewarding failure, and punishing success, and you'll get more failure and less success.

You need to read 'Human Action', Andrew. You will find all of your answers there.