Cruiselines and Corona Virus Aid

[klfrodo]

Did any of the major players in the cruise industry receive Corona Virus bail out money?

[LHT28]

don't think so

[CruiserBruce]

None reported, but the Treasury Department is slowly releasing the list of recipients. You can find the current list, and probably be shocked by who did receive funds.

[ColeThornton]

No, and I hope the government doesn't give the Corona Cash to any foreign companies.

[Philob]

According to this article Carnival did not directly from the US gov't, but used some accounting footwork to raise money.

 

https://thepointsguy.com/news/carnival-did-not-receive-bailout/

[ldubs]

11 minutes ago, ColeThornton said:

No, and I hope the government doesn't give the Corona Cash to any foreign companies.

 

X2.  The way the first stimulus was structured cruise lines did not meet the test for relief.  I hope the same rules about organization under US laws and with significant operations and employees on US soil stay in place for future relief packages.   

 

[klfrodo]

If foreign companies can't and cruiselines can't and companies who don't pay taxes can't, the why the Catholic Church?

 

https://www.cbsnews.com/news/catholic-church-coronavirus-aid-lobbying/

[navybankerteacher]

The aid was intended for US corporations - to help them keep US jobs going — neither aim would have been met by aid to cruise companies.

 

Down the road, one small plus might be a reduction of cruise lines’ fixed costs.  If there are insolvency-based  reorganizations, the existing stock holders may very well be wiped out. New stock might be issued to the holders of unsecured debt in lieu of cash payments.  That would substantially reduce the massive interest obligations the operators would have to pay, possibly enabling them to operate on lower fare income.

 

As things stand now, the existing companies must devote huge sums (Carnival’s 12% debt taken on to tide them over the COVID situation requires hundreds of millions of dollars in annual interest payments — think how much fares could be cut if those debt holders got downgraded to stockholder status through a financial restructuring).

Edited July 10, 2020 by navybankerteacher

[navybankerteacher]

9 minutes ago, klfrodo said:

If foreign companies can't and cruiselines can't and companies who don't pay taxes can't, the why the Catholic Church?

 

https://www.cbsnews.com/news/catholic-church-coronavirus-aid-lobbying/

The aid in question was aimed at US parishes and dioceses - so not foreign.  And that aid does help keep schools and hospitals solvent

[klfrodo]

22 minutes ago, navybankerteacher said:

The aid in question was aimed at US parishes and dioceses - so not foreign.  And that aid does help keep schools and hospitals solvent

Do US parishes and dioceses pay taxes?

Offsets their losses and payouts to molestation victims too.

[navybankerteacher]

2 minutes ago, klfrodo said:

Do US parishes and dioceses pay taxes?

Offsets their losses and payouts to molestation victims too.

I do not believe they do, but their employees do; and the underlying purpose was to maintain employment.

 

Of course the molestation thing is disgusting - but I do not think costs related to criminal activity would be covered. 

[mom says]

31 minutes ago, klfrodo said:

Do US parishes and dioceses pay taxes?

Offsets their losses and payouts to molestation victims too.

The discussion is about relief packages to cruiselines ( or the lack thereof). Can we keep it there and not veer off on personal tangents?

[c-boy]

[ldubs]

20 minutes ago, c-boy said:

 

haha, this expression is terrific!  

[navybankerteacher]

On 7/10/2020 at 7:40 PM, ldubs said:

 

haha, this expression is terrific!  

More and more posts on CC have me feeling just that way.

[klfrodo]

Guess I shouldn't be too upset that the Catholic church received Covid-19 relief money. So did the Church of Scientology, Latter Day Saints, and other religious organizations.

Just don't understand how they can be tax exempt and get federal bail out money. If part of the reason is because they donate to relief organizations or their employees pay federal taxes, I'm not why why cruiselines like Carnival or Royal are kept out. They donate millions to hurricane relief efforts. They probably did more for Puerto Rico than the current administration did. Their US based employees pay US taxes.

Just don't understand the distinction.

 

I was just going to let this thread go to bed but someone resurrected from page 3.

[ldubs]

2 hours ago, klfrodo said:

Guess I shouldn't be too upset that the Catholic church received Covid-19 relief money. So did the Church of Scientology, Latter Day Saints, and other religious organizations.

Just don't understand how they can be tax exempt and get federal bail out money. If part of the reason is because they donate to relief organizations or their employees pay federal taxes, I'm not why why cruiselines like Carnival or Royal are kept out. They donate millions to hurricane relief efforts. They probably did more for Puerto Rico than the current administration did. Their US based employees pay US taxes.

Just don't understand the distinction.

 

I was just going to let this thread go to bed but someone resurrected from page 3.

 

Not sure what you mean by page 3.  

 

The stimulus requirements, as I understand them, require a significant amount of the operations and employees to be on US soil.   I suppose if an institution meets the req's then they are eligible.   

 

I think, for the sake of peace and harmony, discussions involving religion should be avoided on these forums.  Well, other than the where, when & how of services on board or ashore that is.  I don't mean most of us are not capable of a discussion.  But there are trolls out there that will try to wind people up.   

[navybankerteacher]

9 hours ago, klfrodo said:

Guess I shouldn't be too upset that the Catholic church received Covid-19 relief money. So did the Church of Scientology, Latter Day Saints, and other religious organizations.

Just don't understand how they can be tax exempt and get federal bail out money. If part of the reason is because they donate to relief organizations or their employees pay federal taxes, I'm not why why cruiselines like Carnival or Royal are kept out. They donate millions to hurricane relief efforts. They probably did more for Puerto Rico than the current administration did. Their US based employees pay US taxes.

Just don't understand the distinction.

 

I was just going to let this thread go to bed but someone resurrected from page 3.

The underlying purpose of bailout money was to keep people employed. A tax exempt organization can have a lot of (tax paying) employees needing to keep their jobs —— as do regular domestic business which (because of operating losses or simply clever accounting) also do not themselves pay taxes  - but still have tax-paying employees who need to keep their jobs.

[SelectSys]

11 hours ago, klfrodo said:

Guess I shouldn't be too upset that the Catholic church received Covid-19 relief money. So did the Church of Scientology, Latter Day Saints, and other religious organizations.

Just don't understand how they can be tax exempt and get federal bail out money. 

 

A simple search will let you discover that any and all kinds of tax exempt organizations received aid.  While the organizations themselves may not pay taxes on revenue, their employees most certainly do.  So far no political "litmus tests" are required to get aid as far as I know.  Look around and maybe a nonprofit you agree with has received help.

 

 

 

 

Edited July 12, 2020 by SelectSys

[ontheweb]

12 hours ago, klfrodo said:

Guess I shouldn't be too upset that the Catholic church received Covid-19 relief money. So did the Church of Scientology, Latter Day Saints, and other religious organizations.

Just don't understand how they can be tax exempt and get federal bail out money. If part of the reason is because they donate to relief organizations or their employees pay federal taxes, I'm not why why cruiselines like Carnival or Royal are kept out. They donate millions to hurricane relief efforts. They probably did more for Puerto Rico than the current administration did. Their US based employees pay US taxes.

Just don't understand the distinction.

 

I was just going to let this thread go to bed but someone resurrected from page 3.

There are a lot of non tax paying entities that are not religious, for instance charities like say the United Way. And there are others that are affiliated, but not the Church itself, like say Catholic Charities.