Zombie The Coronavirus Financial Thread (Personal, Local, National)

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When the Stimulus check and hump day collide.

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The wealthiest 10% of Americans own 89% of all of the stocks available in the U.S., according to CNBC, citing the latest data from the Federal Reserve.
 
Moderna founders debut on Forbes’ list of 400 richest Americans

The company has previously said it expects to make at least $19.2 billion in sales of its COVID-19 vaccine.
The success of Moderna’s COVID-19 vaccine has minted three new billionaires who had early stakes in the biotech startup.
The company’s now valued at more than $120 billion, larger than beverage giant Diageo and jet engine maker General Electric.
 
HailBlazers said:
Moderna founders debut on Forbes’ list of 400 richest Americans

The company has previously said it expects to make at least $19.2 billion in sales of its COVID-19 vaccine.
The success of Moderna’s COVID-19 vaccine has minted three new billionaires who had early stakes in the biotech startup.
The company’s now valued at more than $120 billion, larger than beverage giant Diageo and jet engine maker General Electric.
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There are three major jet engine makers, GE, Pratt and Whitney and Rolls Royce. I actually applied for a job at GE making jet engines but turned it down when a visit to their facility exposed how poorly that part of the company was run. Those people seemed to hate each other and were quite rude to one another. All of the United Kingdom's major aircraft are powered by Rolls Royce. I'd invest with them.
 
I know a guy who was given 4 million dollars from the Government during Covid. He didn't need it, he never laid anyone off. He made money during this crisis. So he used it to buy two more houses.
And people wonder why there is a lack of trust when the Government is in charge of our tax dollars.
 
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Pinwheel1 said:
I know a guy who was given 4 million dollars from the Government during Covid. He didn't need it, he never laid anyone off. He made money during this crisis. So he used it to buy two more houses.
And people wonder why there is a lack of trust when the Government is in charge of our tax dollars.
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Anecdotes like that are effectively gossip.
 
Lanny said:
Some gossip is true but you can't expect others to accept it's veracity. So, what would be the purpose in bringing up gossip?
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I shared something I was told firsthand by the owner of this company. Someone I have known for 40 years.
I didn't expect most of you to believe it just as I don't believe anything most you say on this board either.
But why would he lie to me about this when it doesn't make him look good? The number was startling and maybe he exaggerated. But the point is that too many companies have received money when they didn't need it..... simply by applying for it. I have numerous clients who also received money when they never shut their doors or laid anyone off. Are you saying you don't?

Sharing is caring Lanny.
 
Pinwheel1 said:
I shared something I was told firsthand by the owner of this company. Someone I have known for 40 years.
I didn't expect most of you to believe it just as I don't believe anything most you say on this board either.
But why would he lie to me about this when it doesn't make him look good? The number was startling and maybe he exaggerated. But the point is that too many companies have received money when they didn't need it..... simply by applying for it. I have numerous clients who also received money when they never shut their doors or laid anyone off. Are you saying you don't?

Sharing is caring Lanny.
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A large number of companies/people scammed the government out of pandemic money. I don't think the main takeaway from that should be 'government bad', though.

It is true that the controls weren't optimal, it was emergency funding. But sometimes you have to do what you can. Hopefully some of the cheaters will eventually be charged.

barfo
 
barfo said:
A large number of companies/people scammed the government out of pandemic money. I don't think the main takeaway from that should be 'government bad', though.

It is true that the controls weren't optimal, it was emergency funding. But sometimes you have to do what you can. Hopefully some of the cheaters will eventually be charged.

barfo
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Not saying the government is bad, just that they are not very competent. It is not their money so they are not very thorough. Government workers tend to go through the motions. What branch of the government do you trust? Back in 86' it was reported that our tax dollars went to
$37 screws, a $7,622 coffee maker, $640 toilet seats ...

Do you think it has gotten better? And now we want to expand the size of the government budget and hope they have gotten more competent. Very scary.
 
Pinwheel1 said:
Not saying the government is bad, just that they are not very competent. It is not their money so they are not very thorough. Government workers tend to go through the motions. What branch of the government do you trust? Back in 86' it was reported that our tax dollars went to
$37 screws, a $7,622 coffee maker, $640 toilet seats ...

Do you think it has gotten better? And now we want to expand the size of the government budget and hope they have gotten more competent. Very scary.
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Not sure what the solution is here. Can't expect corporations to be the government.

"It's not their money" could apply to corporate employees just as much as government employees. Plenty of waste in the corporate world too.

Although probably you'll hate this idea, I'd advocate for outsourcing less government work to corporations and instead have more government employees to do the work. Might make for better accountability.

There are other reforms necessary too, like making it easier to fire bad civil servants. And paying them a market wage for their position.

barfo
 
Pinwheel1 said:
Not saying the government is bad, just that they are not very competent. It is not their money so they are not very thorough. Government workers tend to go through the motions. What branch of the government do you trust? Back in 86' it was reported that our tax dollars went to
$37 screws, a $7,622 coffee maker, $640 toilet seats ...

Do you think it has gotten better? And now we want to expand the size of the government budget and hope they have gotten more competent. Very scary.
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So, why do you think that is? It's mostly because such items need to be mil. spec'd and each has it's own drawing which must be maintained. I saw this on Boeing airplanes that were built for the military. Also, such items cannot be built to civilian standards because aircraft space when in use is expensive. You don't want a broken toilet seat when flying a nuclear mission.
 
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