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There’s no fraud involved. Booking was legally allowed to keep the money.
by AbortedLaunch 5y ago
There’s no fraud involved. Booking was legally allowed to keep the money.
- deleted 5y ago[deleted]
- consp 5y agoThis is just PR damage control. Apparently someone calculated the loss would be more than the 65M so instead of reducing the exec payout they just pay back the money.
- elliekelly 5y agoIf they didn’t need the money in the first place why was it given to them?
- NovemberWhiskey 5y agoPerhaps at the time they asked for the money, it wasn't clear whether they were going to need it?
- ergocoder 5y agoAlso, the government could have dictated any vague good-faith terms under the sun like "if you don't need the money, you must return it" and etc. But the government didn't do that.
- Freestyler_3 5y agoThey fired people after they got the money so they kept losses lower that way.
- conductr 5y agoThis is why they should be given something like a DDTL so they have to display a need for money but have assurance that the lending facility is available
- kittiepryde 5y agoThey might have been about to use it as a zero interest loan?
- bpodgursky 5y agoWhy do you keep your own tax deductions? Do you think people only kept their stimulus check if they were hard-up for cash? The tax system isn't about paying what you feel you should owe. The government bailed out an entire industry and tried to pay out (somewhat) evenly over it. Why should some of the companies be obligated to forgo that cash just because they handled the pandemic better than their competitors?
- elliekelly 5y agoI didn't ask why they took it. I asked why it was given to them.
- nielsbot 5y agoI think this is partly explained by "we need to move quickly to help", versus taking time to design and implement some sort of means testing. I will note that PPP loans in the US are loans, and are only forgiven if you can link the funds to employees' salaries. The percentage of the loan that can be used for owners' salaries is also capped.
- AbortedLaunch 5y agoIt was given to them to keep on their employees for the duration of the aid. The aid covered up to 90% of salaries, the percentage dependent on the revenue drop during that period.
- s1artibartfast 5y agoWhy do they get 400 million a year in other government subsides despite being wildly profitable? Seems like the CFO and executives are worth every cent they are paid.
- akie 5y agoThat’s an almost sociopathic way of looking at society. Government is the organization that we, the people, have created to accomplish our common goals. If you think that government is just a big fat cow that needs to be fleeced, and that people who are doing just that are worthy of praise, then I consider you with the same esteem as someone who steals from their neighbors.
- conductr 5y agoBoth stealing from neighbors and taking advantage of the govt are very common acts and it's naive to think otherwise
- akie 5y agoI never said it’s uncommon, I just said I completely and utterly detest the people who do this kind of thing.
- s1artibartfast 5y agoI think that the problem lies with the the voters and politicians who set up programs with explicit purpose of giving cash to mega corporations that don't need it. It isn't reasonable to put out a sign that says "free cows" and then blame the those who apply for and receive the cow. The solution is to stop giving handouts to corporations with billions in profit, not rely on them to refuse the free money.
- landemva 5y agoIt is government that steals income tax from my neighbors and from me.
- cinntaile 5y agoBecause they fulfilled the criteria required to receive the money.
- jacquesm 5y agoIt was given to them because the travel branch was hard hit due to COVID and the government handed out this money to avoid lay-offs. In no way was it intended for bonus payments, the fact that that wasn't forbidden doesn't mean it was permitted.
- bpodgursky 5y agoIn a free society, the default is that anything not forbidden is permitted.
- jacquesm 5y agoThis money came with some very explicit strings attached about what it was intended for, that you weren't allowed to go buy yachts with it was not made explicit but even so it should be f'ing obvious. https://business.gov.nl/subsidy/corona-crisis-temporary-emergency-measure-now/ https://business.gov.nl/subsidy/corona-crisis-temporary-emer...
- elliekelly 5y agoOh wow, it even explicitly says it’s not to be used for bonuses.
- markus92 5y agoThat was added after this scandal first unearthed.