News and notes from around the interweb:
- Lyft is looking to build hotel partnerships the idea is that room rates include airport transportation and a Lyft is ordered automatically when the guest touches down at the airport.
- Ryanair prepares for hard Brexit by applying for UK Air Operators Certificate which would allow them to continue serving domestic routes.
- IATA reports safety of African airlines is improving
- Motel 6s in Washington State freely gave out guest information to federal immigration authorities. (HT: Kalboz) We already knew that Motel 6s in Phoenix were doing that.
Motel 6 Phoenix – Northern Avenue, Credit: Motel 6 - Despite benefiting from lower corporate tax rates, American Express says fourth quarter earnings will take a $2.4 billion hit from the recently-passed tax bill because they have to account for taxation of earnings they hold overseas and “adjustments to the company’s deferred tax assets and liabilities.”
- Man faces charges for sexually assaulting woman on a Spirit Airlines Las Vegas – Detroit flight. He admits he might have “un-done the woman’s bra to play with it” and that he also unzipped the woman’s pants trying to touch her “but was unsuccessful.” What I’m perplexed by is the uncertainty, how could he not know if he did it?
Copyright: boarding1now / 123RF Stock Photo
Actually – the AMEX piece is somewhat a positive news despite how the author framed the article. AMEX is finally bringing cash they hoarded overseas back into the US, which means they will have more funds to hopefully invest in products, employees, technology, etc.
In the past the cash was a worthless stockpile they couldn’t move around much and made their cash flow sheet look pretty, but now the cash will start to be put into work for them.
However, I wouldn’t be surprised if the bulk of the cash is used to prop up stock prices and bolster returns to shareholders rather than investments (wages, innovation, domestic growth, etc) benefiting the US economy.
Right, because returns to shareholders don’t benefit the economy? I forgot, shareholders = rich people = essentially evil hitlers.
I sense snarkiness.
Trends and studies have proven time and time over the rich keeps getting richer with the % those accounting for a lopsided amount of our economy continues to get smaller while the middle class is disappearing.
Clearly what companies have been doing (returning bulk of profits to shareholders) is not working for the US economy.
When the baby boomers depart, we will have a huge income inequality problem on our hands and I sincerely hope those in the top 10% will wake up before it’s too late which at that point we will have much bigger problem on our hands than the US economy or Wall Street.
I say that as a shareholder of multiple companies and as someone who is very fortunate to have a relatively comfortable life thus far financially.
LOL, I sense a non-economist professing to know facts that don’t exist and are really just based on one man’s anecdote-based belief system. Seriously…nothing you said is supportable.
Seems to me that Golfingboy is making polite fact based comments and Rob is just hot air trolling.
Ok Hin, you and Golfingboy can go agree about “facts” like how the U.S. economy isn’t working and how return on capital is a bad thing. Make sure you put your money where your mouth is and sell your stocks if that’s what you think. And we wonder why the rich get richer?
Rob, sounds like you have life all figured out. Good luck
Golfingboy mentioned several facts, with the wealth inequality as a prime example of one such fact.
@Golfingboy: “In the past the cash was a worthless stockpile”
They could use the post-tax value as collateral to borrow (as Apple did) so that statement is incorrect.
@Golfingboy:
“Clearly what companies have been doing (returning bulk of profits to shareholders) is not working for the US economy.”
Your proposal to prevent capital going to its highest-valued use will cause:
“rich keeps getting richer” (sic)
“continues to get smaller while the middle class is disappearing”. (sic)
Sounds like Mr. Ramamoorthy is well qualified to be the US Attorney General and the US President.
“Clearly what companies have been doing…is not working for the US economy.” What fact could possibly support a laughable conclusion like that when the US economy has been the largest on the planet for the past 130 years and counting?
When I get a higher dividend that is reinvested to buy more stock, why do I feel like I’m not helping the economy? Thanks for easing my conscience. Must be the trickle down effect??