Cruise line bailout ? Why

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  #16  
Old 03-24-2020, 02:30 PM
gatorbill1 gatorbill1 is offline
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I was scheduled for a Hawaii and French Polynesia cruise April 3rd. I got an email from NCL that stated if you are over 70 and have a health condition you could not board ship. When I called them to cancel and get a refund because they were not allowing me to board ship, I was told they were giving only a cruise credit for future cruise, which I probably couldn't go on anyway if same conditions apply. Challenged credit card which is now pending. They canceled cruise consequentially and are now maybe offering a refund in 90 days or so.
We need to help them?????
  #17  
Old 03-25-2020, 06:31 AM
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Agree with you Rollie. Nicely said.
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  #18  
Old 03-25-2020, 08:57 AM
Investment Painting Contractors Investment Painting Contractors is offline
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Quote:
Originally Posted by OrangeBlossomBaby View Post
Regarding the cruise lines - they do NOT PAY TAXES to the USA. The companies themselves - do not pay taxes for those ships that harbor in the USA - because the ships are registered under foreign flags. The money that -would- go to them, if approved, would be money collected from American taxpayers.

I love taking cruises. I'd love to take some more of them. But if they aren't allowed to sail from our shores right now, then they are NOT buying supplies from these US ports, and those thousands of employees will be laid off or terminated, due to lack of work. They are grossly underpaid, so their unemployment benefits will be minimal.

If you bail out the cruise ships, which can't go anywhere or pick up passengers or buy supplies, then those employees will get NOTHING from the bail out. They will still be out of work, the supply companies will still not get revenue for NOT supplying the ships that aren't going anywhere.

There is absolutely no reason to funnel a cent of taxpayer money into any of these cruise lines.
Union Dockworkers are paid an average of $147,000 a year with a benefits package of at least $30,000. I wish I had been that underpaid.

The ships bring in thousands of tourists everyday. The ships pay very high port fees. They buy local food. The tourist support tour companies , the attractions, local eateries, shops etc. Plus since many people have 401Ks which are tied to the stock market it helps the majority of the American Public. All of these people are paying taxes. The bail out is to insure that a company still exists after the virus. Thus everybody returns to work.


Give the workers a Fish they eat for a day. Give them a fishing pole (THE COMPANIES) They eat forever. Len
  #19  
Old 03-25-2020, 09:01 AM
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That is why big business might need a bailout. All of the fallout (employees, support businesses, etc.) that flourish if they are succesful.

Go to a small manufacturing town that the major business had left, and see what remains. I lived in one. It is not pretty.
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  #20  
Old 03-26-2020, 08:54 AM
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In 2018 the cruise industry had over 13 million people embarking via US & Puerto Rico ports. That is estimated to have brought over $24 billion to the economy, of that over $17 billion was spent by the cruise lines.
  #21  
Old 03-26-2020, 09:14 AM
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Quote:
Originally Posted by Investment Painting Contractors View Post
Union Dockworkers are paid an average of $147,000 a year with a benefits package of at least $30,000. I wish I had been that underpaid.

The ships bring in thousands of tourists everyday. The ships pay very high port fees. They buy local food. The tourist support tour companies , the attractions, local eateries, shops etc. Plus since many people have 401Ks which are tied to the stock market it helps the majority of the American Public. All of these people are paying taxes. The bail out is to insure that a company still exists after the virus. Thus everybody returns to work.


Give the workers a Fish they eat for a day. Give them a fishing pole (THE COMPANIES) They eat forever. Len
Many people do not equate with the majority. The majority of the American Public can't afford to take a cruise, let alone invest in Carnival, even at the current rate of $9.30/share.

The USA should not be bearing the brunt of the cost to maintain and bail out these cruise lines. Of all the country flags that fly on these ships, have any of those countries stepped up to contribute? Not even asking if they've contributed as much as the USA wants to contribute. Just if they've done so at all.

You register most of your ships under some other countries' flags to avoid paying American taxes, then you should expect those other countries to bail you out.
  #22  
Old 03-26-2020, 10:12 AM
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Please carefully read SPK 7851s Post. You don't have to own cruise co stock to BENIFIT. All those taxes help us all out. Len
  #23  
Old 03-26-2020, 10:17 AM
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Quote:
Originally Posted by OrangeBlossomBaby View Post
Many people do not equate with the majority. The majority of the American Public can't afford to take a cruise, let alone invest in Carnival, even at the current rate of $9.30/share.

The USA should not be bearing the brunt of the cost to maintain and bail out these cruise lines. Of all the country flags that fly on these ships, have any of those countries stepped up to contribute? Not even asking if they've contributed as much as the USA wants to contribute. Just if they've done so at all.

You register most of your ships under some other countries' flags to avoid paying American taxes, then you should expect those other countries to bail you out.
I totally disagree.

Thanks for the perspective, Len. That is a large sum of money infused into our economy and affords many employment.
  #24  
Old 03-26-2020, 10:36 AM
Marvic 1 Marvic 1 is offline
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Some interesting reading from the Verge website:
Don’t bail out the cruise industry
They’re not really US companies.
Carnival Corporation is incorporated in Panama.
Royal Caribbean is incorporated in Liberia.
Norwegian Cruise Line is incorporated in Bermuda.
And while they operate offices in Miami, Florida, they are all incorporated in countries with very different labor, tax, and other laws than those of the US. Their ships fly flags of these countries.
What’s more, a large number of cruise ship employees are from Europe, the Caribbean islands, and the Philippines.
These companies are not big job creators for US citizens in the way that other bailout targets like Boeing or airlines like Delta, United, and American are.
  #25  
Old 03-26-2020, 10:46 AM
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Any financial counselor worth their salt will tell an individual that they need to have an "emergency fund" to get through tough times. If this applies to an individual why not for corporations as well? The airline industry has been making record profits for quite a while now, why haven't they socked away some of those profits for a situation such as this? I'm tired of seeing my taxes go to bail out incompetent businessmen.
Another gripe I have is the pork that was ladled by the truck load into this so-called stimulus bill. Millions going to:

The John F. Kennedy Center for the Performing Arts, which has been closed until May, would get $25 million so it can reopen its doors once the crisis is over.

The Smithsonian Institution would get $7.5 million to help with teleworking, deep cleaning and overtime for security, medical staff, and zoo keepers.

Museums, libraries and arts organizations across the country, which have been closing because of the pandemic, could get a boost from grants to state arts and humanities organizations.

States, which have been postponing primaries, would get additional funds to make voting safer such as expanding early voting and the ability to vote by mail.

This is just some of the pork in this bill that I pulled from a USA Today article, dig a little and you will find even more pork that has nothing to do with helping out the people who really need assistance. There is no form of life lower and more despicable than a politician.
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