yup, and i hate to say it, the democrats allowed it to get republicans to vote for it... both of their faults... the repubs for asking for it and the dems for allowing... if I was a republican I'd be hanging my head in shame right now...
700 billion bail out passed
- Thread starter skidooer1
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yup, and i hate to say it, the democrats allowed it to get republicans to vote for it... both of their faults... the repubs for asking for it and the dems for allowing... if I was a republican I'd be hanging my head in shame right now...
And they all made into making sure they get re-elected next time. Dems better be hanging their heads too. They have done nothing either. The funny part is Obama and McCain are the best each could come up with.
In talking with my boss and my bosses boss, they are worried about the tightening/squeeze on lending.. Most businesses take short term loans (90 days or less) to cover payroll and other expenses while income lags at that current time.... Seems this type of loan or rather not getting this type of loan will have the most dramatic effect on the American people...
It seems to not be talked about as much....
It seems to not be talked about as much....
But, shouldn't businesses be making enough money to pay employees? Unless they are not getting paid for work done and that's another problem. Havén't done the math but what would happen if the bailout started with putting all home mortgages at a low interest rate say 1-3% or even 0. Should keep people in homes and might keep more pork getting put toward special groups.
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what ruffryder says is 100% correct... its a cash flow problem, they take the short loan to cover, say, payroll and use the slower stream of incoming cash to repay, this is VERY common business practice...
I guess it depends on size of business. Our family construction business hasn't had to do that since 1962 when it was started.
I'm still furious over all this. I just wrote to every elected official in Colorado to express my displeasure and I suggest you all do the same in your states.
The Senate last night adopted a new policy it's being refered as...."Sweep It Under The Rug Fast Before Anyone Gets Caught "
Corruption, Corruption, Corruption
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Corruption, Corruption, Corruption
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Doesn't construction normally get paid some in the beginning? I think that might be the difference...
Every great society falls eventually, just look back at history. I just hope myself and my kids are not around when it happens.
I just downloaded the bill. Holy crapp, 409 pages of mumbo jumbo. For one thing, page after page of funding to natural disasters going back to Katrina and the mid-west flooding. http://www.foxnews.com/projects/pdf/AYO08C32_xml.pdf Here it is in case you have trouble sleeping.
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And this concept have some small business owners VERY worried here in the Vail Valley...since that is how they operate every year.
Doesn't hurt construction businesses nearly as much because it is fairly standard to get 50% before they start and 50% when they finish...at least that's how it usually works around here.
Maybe when doing some re-modeling. When building homes you never get anywhere near 50% down. We never took any. Usually had good contracts though. Not trying to argue, it's just not the way we did things.
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Supplicate
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Maybe if you're company is very top heavy. Even when we used to do lots of work for 90 day corporations, there was enough money coming in to cover wages because 95% of the employees were money makers rather then money takers.
Great response....
I think it has more to do with the type of business being done, and the type of billing methods being used.....
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Ollie
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If the feds were interested in dealing with JUST the root cause of the problem and didn't add 200 billion in BS (that is obvious, I am sure there is more that can be found later), then I would have no heart burn with it.
It is not just the republicans that stuffed this bill with pork. The dems did a great job also. They need to kill this bill, and get to work on the root problem in the lending industry. We have a system already in place to take care of emergencies like this.
Ever hear of the disaster relief fund? Pump money into that, let the buisnesses borrow from that and let the morons that caused all this go broke. PRoblem solved and we do it without running up a 700 billion dollar tab.
It is not just the republicans that stuffed this bill with pork. The dems did a great job also. They need to kill this bill, and get to work on the root problem in the lending industry. We have a system already in place to take care of emergencies like this.
Ever hear of the disaster relief fund? Pump money into that, let the buisnesses borrow from that and let the morons that caused all this go broke. PRoblem solved and we do it without running up a 700 billion dollar tab.
No kidding, how about a bill that says you can't add on to a bill with crap that has nothing to do with the original intent of the bill. Oh yea that's how dinosaurs on both sides of the aisle intimidate bill writers.
LMAO yeah but then they cant pass garbage bills to line there pockets with.
Alaska should just leave the union!
Unfortunately, that is called a compromise in washington.....
In our biz , commercial heating and air , we bill as the job progresses with nothing up front. Don't get paid for equiptment till it arrives on sight. Placing an order for approx 200k worth in a few days. It won't arrive for 6-8 weeks. Most vendors will work with you on payments for equipt but some don't so you have to float that until you can bill and it goes thru the customers billing cycle ie: 30 , 60 ,90 days. That can put quite a squeeze on operating capital.
We don't run on loans or lines of credit thank God but at some time we may need to , I hope that time never comes as I don't like the thought of it at all.
The company I worked for prior to starting my own ran on a $2mil line of credit that was bumping up against the limit from time to time and from what I understand that is very very common.
If that credit freezes up you are in a world of hurt and prob out of biz in my mind.
Scary times for sure but I say let the chips fall where they may and bail-out noone.
while we are at we need to fire with our votes all that supported this past bill current bill and the next one they try and run through the system.
I'm gonna go throw up now as what is going on in our counrty is making me ILL
We don't run on loans or lines of credit thank God but at some time we may need to , I hope that time never comes as I don't like the thought of it at all.
The company I worked for prior to starting my own ran on a $2mil line of credit that was bumping up against the limit from time to time and from what I understand that is very very common.
If that credit freezes up you are in a world of hurt and prob out of biz in my mind.
Scary times for sure but I say let the chips fall where they may and bail-out noone.
while we are at we need to fire with our votes all that supported this past bill current bill and the next one they try and run through the system.
I'm gonna go throw up now as what is going on in our counrty is making me ILL
