Stay off Southwest Airlines
It seems to me there might be some benefits if one is planning an expensive vacation. I'm not one to take expensive vacations. Traveling is a pain in the ass for many reasons. There are really only a few places I'm really interested in and they are all in the USA.Quote: GandlerQuote: AxelWolfDo they even sell fully refundable tickets anymore? I haven't seen an option for that lately.
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Yes, but it is cheaper in most (basically all) cases to just buy trip insurance (that is essentially what a refundable ticket is, but it strictly applies to the airline tickets and does not cover anything else and is usually/always more expensive than just buying a nonrefundable seat and third-party insurance). Decent trip insurance should be 2-4% of the total cost, a refundable airline ticket is drastically more expensive (and only covers the airline ticket).
For example, a refundable airline ticket would not help you in anyway if you are stranded at a layover airport for several days with no baggage, but trip insurance would.
Trip insurance just gives you far more protection for a lower price (there is no reason to get both).
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Once got back to port in Galveston and needed to rebook airfare. Probably cost us 1 night cheap hotel and then I think $600 for new airfare.
Once stepdaughter got sick before cruise right at the beginning of pandemic. That was about $1000.
There are so many different variations of travel insurance. You aren’t getting ‘I can’t go on my trip, give me all my money back’ for 2%!
If my flights are canceled to Florida wifey and I will drive. I wanted to drive but wifey’s back doesn’t like two 12 hour days of driving! I will save big $$$ if we drive as rental car for a month in Fla is big $$$. Plus we get the SW miles back for the canceled flight.
Quote: AxelWolfIt seems to me there might be some benefits if one is planning an expensive vacation. I'm not one to take expensive vacations. Traveling is a pain in the ass for many reasons. There are really only a few places I'm really interested in and they are all in the USA.Quote: GandlerQuote: AxelWolfDo they even sell fully refundable tickets anymore? I haven't seen an option for that lately.
link to original post
Yes, but it is cheaper in most (basically all) cases to just buy trip insurance (that is essentially what a refundable ticket is, but it strictly applies to the airline tickets and does not cover anything else and is usually/always more expensive than just buying a nonrefundable seat and third-party insurance). Decent trip insurance should be 2-4% of the total cost, a refundable airline ticket is drastically more expensive (and only covers the airline ticket).
For example, a refundable airline ticket would not help you in anyway if you are stranded at a layover airport for several days with no baggage, but trip insurance would.
Trip insurance just gives you far more protection for a lower price (there is no reason to get both).
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I agree, especially right now it is worse than ever.
Where are the prompt refunds?
Quote: ChumpChangeWATCH: Airport Cop Threatens to Arrest Stranded Passengers Waiting In Line To Reschedule Flights - TYT - YouTube https://www.youtube.com/watch?v=wDel3pwLl0A
Where are the prompt refunds?
link to original post
I cancelled mine and wife’s flights today. Full refund immediately as I paid with points and I think $11 fee.
I also canceled the car rental which was also paid for with….. 190,000 points! Full refund except for a single $35 fee since it is some 3rd party they use. The most amazing thing was there was no wait on hold! I’m now going to drive down. 12 hours first day. Hotel. 4 hours to have lunch with son in Gainesville. Then get to Siesta Key dinner time!
I’m expecting a really big sale when they start flying all their flights.
Quote: ChumpChangePeople are getting their flights cancelled on them and their baggage is being supposedly flown to their destinations without their owners on the same cancelled flights. There's some decades old software for crew scheduling that crashed. There's new management plundering for profits, and the airline is in a grid-down situation. Luggage could be lost for over 30 days. Alternative means of transportation aren't available, or if available at very high prices. This is a developing story, and airline disaster. There's no official communication coming from the airlines. Their customer service lines are unresponsive. There's a couple of missives on reddit from insiders of the airline. I don't fly, so don't ask me about this mess, but Vegas is a transportation hub and it's the holiday season.
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Plundering for profits?
Quote: AZDuffmanQuote: ChumpChangePeople are getting their flights cancelled on them and their baggage is being supposedly flown to their destinations without their owners on the same cancelled flights. There's some decades old software for crew scheduling that crashed. There's new management plundering for profits, and the airline is in a grid-down situation. Luggage could be lost for over 30 days. Alternative means of transportation aren't available, or if available at very high prices. This is a developing story, and airline disaster. There's no official communication coming from the airlines. Their customer service lines are unresponsive. There's a couple of missives on reddit from insiders of the airline. I don't fly, so don't ask me about this mess, but Vegas is a transportation hub and it's the holiday season.
link to original post
Plundering for profits?
link to original post
Southwest did not do well under the previous CEO Gary Kelly. Apparently he knew how bad the tech was, but choose to reduce wages and use the excess cash for stock buybacks rather than updating all of these legacy systems.
Plundering seems like an apt word when a CEO comes in, runs a company into the ground in just a few years, and ejects with a golden multi-million dollar parachute.
Quote: gamerfreakQuote: AZDuffmanQuote: ChumpChangePeople are getting their flights cancelled on them and their baggage is being supposedly flown to their destinations without their owners on the same cancelled flights. There's some decades old software for crew scheduling that crashed. There's new management plundering for profits, and the airline is in a grid-down situation. Luggage could be lost for over 30 days. Alternative means of transportation aren't available, or if available at very high prices. This is a developing story, and airline disaster. There's no official communication coming from the airlines. Their customer service lines are unresponsive. There's a couple of missives on reddit from insiders of the airline. I don't fly, so don't ask me about this mess, but Vegas is a transportation hub and it's the holiday season.
link to original post
Plundering for profits?
link to original post
Southwest did not do well under the previous CEO Gary Kelly. Apparently he knew how bad the tech was, but choose to reduce wages and use the excess cash for stock buybacks rather than updating all of these legacy systems.
Plundering seems like an apt word when a CEO comes in, runs a company into the ground in just a few years, and ejects with a golden multi-million dollar parachute.
link to original post
Gary Kelly was the CEO for close to 16 years. he transitioned the company from a low cost carrier to a mainline carrier. I always liked Kelleher as he was just an odd duck that built a terrific company.
Quote: SOOPOOQuote: ChumpChangeWATCH: Airport Cop Threatens to Arrest Stranded Passengers Waiting In Line To Reschedule Flights - TYT - YouTube https://www.youtube.com/watch?v=wDel3pwLl0A
Where are the prompt refunds?
link to original post
I cancelled mine and wife’s flights today. Full refund immediately as I paid with points and I think $11 fee.
I also canceled the car rental which was also paid for with….. 190,000 points! Full refund except for a single $35 fee since it is some 3rd party they use. The most amazing thing was there was no wait on hold! I’m now going to drive down. 12 hours first day. Hotel. 4 hours to have lunch with son in Gainesville. Then get to Siesta Key dinner time!
I’m expecting a really big sale when they start flying all their flights.
link to original post
Soopoo. I hope you get down soon before the cold sets in. I think next week is going to be down in the 70's. Bring a sweater.
Quote: DRichQuote: gamerfreakQuote: AZDuffmanQuote: ChumpChangePeople are getting their flights cancelled on them and their baggage is being supposedly flown to their destinations without their owners on the same cancelled flights. There's some decades old software for crew scheduling that crashed. There's new management plundering for profits, and the airline is in a grid-down situation. Luggage could be lost for over 30 days. Alternative means of transportation aren't available, or if available at very high prices. This is a developing story, and airline disaster. There's no official communication coming from the airlines. Their customer service lines are unresponsive. There's a couple of missives on reddit from insiders of the airline. I don't fly, so don't ask me about this mess, but Vegas is a transportation hub and it's the holiday season.
link to original post
Plundering for profits?
link to original post
Southwest did not do well under the previous CEO Gary Kelly. Apparently he knew how bad the tech was, but choose to reduce wages and use the excess cash for stock buybacks rather than updating all of these legacy systems.
Plundering seems like an apt word when a CEO comes in, runs a company into the ground in just a few years, and ejects with a golden multi-million dollar parachute.
link to original post
Gary Kelly was the CEO for close to 16 years. he transitioned the company from a low cost carrier to a mainline carrier. I always liked Kelleher as he was just an odd duck that built a terrific company.
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I didn’t realize he was CEO that long, regardless I think he is the most to blame for this fiasco.
Quote: gamerfreakQuote: AZDuffmanQuote: ChumpChangePeople are getting their flights cancelled on them and their baggage is being supposedly flown to their destinations without their owners on the same cancelled flights. There's some decades old software for crew scheduling that crashed. There's new management plundering for profits, and the airline is in a grid-down situation. Luggage could be lost for over 30 days. Alternative means of transportation aren't available, or if available at very high prices. This is a developing story, and airline disaster. There's no official communication coming from the airlines. Their customer service lines are unresponsive. There's a couple of missives on reddit from insiders of the airline. I don't fly, so don't ask me about this mess, but Vegas is a transportation hub and it's the holiday season.
link to original post
Plundering for profits?
link to original post
Southwest did not do well under the previous CEO Gary Kelly. Apparently he knew how bad the tech was, but choose to reduce wages and use the excess cash for stock buybacks rather than updating all of these legacy systems.
Plundering seems like an apt word when a CEO comes in, runs a company into the ground in just a few years, and ejects with a golden multi-million dollar parachute.
link to original post
I fail to see the problem people have with stock buybacks. More corporations should be doing them. And I do not see how taking a carrier from regional to a major is “running it into the ground.”
Quote: AZDuffmanQuote: gamerfreakQuote: AZDuffmanQuote: ChumpChangePeople are getting their flights cancelled on them and their baggage is being supposedly flown to their destinations without their owners on the same cancelled flights. There's some decades old software for crew scheduling that crashed. There's new management plundering for profits, and the airline is in a grid-down situation. Luggage could be lost for over 30 days. Alternative means of transportation aren't available, or if available at very high prices. This is a developing story, and airline disaster. There's no official communication coming from the airlines. Their customer service lines are unresponsive. There's a couple of missives on reddit from insiders of the airline. I don't fly, so don't ask me about this mess, but Vegas is a transportation hub and it's the holiday season.
link to original post
Plundering for profits?
link to original post
Southwest did not do well under the previous CEO Gary Kelly. Apparently he knew how bad the tech was, but choose to reduce wages and use the excess cash for stock buybacks rather than updating all of these legacy systems.
Plundering seems like an apt word when a CEO comes in, runs a company into the ground in just a few years, and ejects with a golden multi-million dollar parachute.
link to original post
I fail to see the problem people have with stock buybacks. More corporations should be doing them. And I do not see how taking a carrier from regional to a major is “running it into the ground.”
link to original post
Southwest has been a booming success until the recent events.
Stock buybacks should be illegal. Companies should be required to give that money to shareholders in the form of dividends. It is the giant scam that allows the stockholders from averting/delaying paying taxes on the income! Warren Buffett is the master at this. Not having BRK give a dividend EVER is the greatest tax avoidance in history.
Quote: SOOPOOQuote: AZDuffmanQuote: gamerfreakQuote: AZDuffmanQuote: ChumpChangePeople are getting their flights cancelled on them and their baggage is being supposedly flown to their destinations without their owners on the same cancelled flights. There's some decades old software for crew scheduling that crashed. There's new management plundering for profits, and the airline is in a grid-down situation. Luggage could be lost for over 30 days. Alternative means of transportation aren't available, or if available at very high prices. This is a developing story, and airline disaster. There's no official communication coming from the airlines. Their customer service lines are unresponsive. There's a couple of missives on reddit from insiders of the airline. I don't fly, so don't ask me about this mess, but Vegas is a transportation hub and it's the holiday season.
link to original post
Plundering for profits?
link to original post
Southwest did not do well under the previous CEO Gary Kelly. Apparently he knew how bad the tech was, but choose to reduce wages and use the excess cash for stock buybacks rather than updating all of these legacy systems.
Plundering seems like an apt word when a CEO comes in, runs a company into the ground in just a few years, and ejects with a golden multi-million dollar parachute.
link to original post
I fail to see the problem people have with stock buybacks. More corporations should be doing them. And I do not see how taking a carrier from regional to a major is “running it into the ground.”
link to original post
Southwest has been a booming success until the recent events.
Stock buybacks should be illegal. Companies should be required to give that money to shareholders in the form of dividends. It is the giant scam that allows the stockholders from averting/delaying paying taxes on the income! Warren Buffett is the master at this. Not having BRK give a dividend EVER is the greatest tax avoidance in history.
link to original post
Not paying taxes? They did pay taxes---AT THE CORPORATE LEVEL! The reason for buybacks over dividends is because too many people do not understand this simple concept. Why should a stockholder have to pay taxes twice?
More companies should be doing buybacks as they are better than dubious investments like Ford buying Volvo then losing how many billions on it? RJ Reynolds buying Nabisco only to have that all broken up 10 years later? Buybacks return money to the owners.
And oh, yeah. They do not escape taxes because we tax capital gains.
Quote: AZDuffmanQuote: SOOPOOQuote: AZDuffmanQuote: gamerfreakQuote: AZDuffmanQuote: ChumpChangePeople are getting their flights cancelled on them and their baggage is being supposedly flown to their destinations without their owners on the same cancelled flights. There's some decades old software for crew scheduling that crashed. There's new management plundering for profits, and the airline is in a grid-down situation. Luggage could be lost for over 30 days. Alternative means of transportation aren't available, or if available at very high prices. This is a developing story, and airline disaster. There's no official communication coming from the airlines. Their customer service lines are unresponsive. There's a couple of missives on reddit from insiders of the airline. I don't fly, so don't ask me about this mess, but Vegas is a transportation hub and it's the holiday season.
link to original post
Plundering for profits?
link to original post
Southwest did not do well under the previous CEO Gary Kelly. Apparently he knew how bad the tech was, but choose to reduce wages and use the excess cash for stock buybacks rather than updating all of these legacy systems.
Plundering seems like an apt word when a CEO comes in, runs a company into the ground in just a few years, and ejects with a golden multi-million dollar parachute.
link to original post
I fail to see the problem people have with stock buybacks. More corporations should be doing them. And I do not see how taking a carrier from regional to a major is “running it into the ground.”
link to original post
Southwest has been a booming success until the recent events.
Stock buybacks should be illegal. Companies should be required to give that money to shareholders in the form of dividends. It is the giant scam that allows the stockholders from averting/delaying paying taxes on the income! Warren Buffett is the master at this. Not having BRK give a dividend EVER is the greatest tax avoidance in history.
link to original post
Not paying taxes? They did pay taxes---AT THE CORPORATE LEVEL! The reason for buybacks over dividends is because too many people do not understand this simple concept. Why should a stockholder have to pay taxes twice?
More companies should be doing buybacks as they are better than dubious investments like Ford buying Volvo then losing how many billions on it? RJ Reynolds buying Nabisco only to have that all broken up 10 years later? Buybacks return money to the owners.
And oh, yeah. They do not escape taxes because we tax capital gains.
link to original post
Warren Buffett has owned his stock for decades and has not paid ONE PENNY in taxes on the shares he has not sold. Assuming he dies before selling he will have paid NO TAXES on the massive accumulation of wealth his entire life, minus whatever lots he has sold. Buybacks fo return money to the owners is a manner that avoids paying what most would consider ‘their fair share’ of taxes. Dividends are treated like income resulting in the shareholder paying ‘his fair share’.
Quote: SOOPOOQuote: AZDuffmanQuote: SOOPOOQuote: AZDuffmanQuote: gamerfreakQuote: AZDuffmanQuote: ChumpChangePeople are getting their flights cancelled on them and their baggage is being supposedly flown to their destinations without their owners on the same cancelled flights. There's some decades old software for crew scheduling that crashed. There's new management plundering for profits, and the airline is in a grid-down situation. Luggage could be lost for over 30 days. Alternative means of transportation aren't available, or if available at very high prices. This is a developing story, and airline disaster. There's no official communication coming from the airlines. Their customer service lines are unresponsive. There's a couple of missives on reddit from insiders of the airline. I don't fly, so don't ask me about this mess, but Vegas is a transportation hub and it's the holiday season.
link to original post
Plundering for profits?
link to original post
Southwest did not do well under the previous CEO Gary Kelly. Apparently he knew how bad the tech was, but choose to reduce wages and use the excess cash for stock buybacks rather than updating all of these legacy systems.
Plundering seems like an apt word when a CEO comes in, runs a company into the ground in just a few years, and ejects with a golden multi-million dollar parachute.
link to original post
I fail to see the problem people have with stock buybacks. More corporations should be doing them. And I do not see how taking a carrier from regional to a major is “running it into the ground.”
link to original post
Southwest has been a booming success until the recent events.
Stock buybacks should be illegal. Companies should be required to give that money to shareholders in the form of dividends. It is the giant scam that allows the stockholders from averting/delaying paying taxes on the income! Warren Buffett is the master at this. Not having BRK give a dividend EVER is the greatest tax avoidance in history.
link to original post
Not paying taxes? They did pay taxes---AT THE CORPORATE LEVEL! The reason for buybacks over dividends is because too many people do not understand this simple concept. Why should a stockholder have to pay taxes twice?
More companies should be doing buybacks as they are better than dubious investments like Ford buying Volvo then losing how many billions on it? RJ Reynolds buying Nabisco only to have that all broken up 10 years later? Buybacks return money to the owners.
And oh, yeah. They do not escape taxes because we tax capital gains.
link to original post
Warren Buffett has owned his stock for decades and has not paid ONE PENNY in taxes on the shares he has not sold. Assuming he dies before selling he will have paid NO TAXES on the massive accumulation of wealth his entire life, minus whatever lots he has sold. Buybacks fo return money to the owners is a manner that avoids paying what most would consider ‘their fair share’ of taxes. Dividends are treated like income resulting in the shareholder paying ‘his fair share’.
link to original post
That doesn’t really hang together. The difference between a stock buyback and a dividend, from Uncle Sam’s point of view, is only the tax rate where a dividend is taxed as ordinary income and a share sold back to the company in a stock buyback is taxed as a capital gain (where if the sold share was held for at least a year, it gets the lower capital gains rate).
If a company is going to return $100m to shareholders via dividend or stock buyback, that whole $100m is going to get taxed by Uncle Sam, just a question of at what rate. Uncle Sam doesn’t care if Warren Buffet or Joe Schmo sold into the buyback and pays the tax, as long as they get to tax the aggregate.
Quote: unJonQuote: SOOPOOQuote: AZDuffmanQuote: SOOPOOQuote: AZDuffmanQuote: gamerfreakQuote: AZDuffmanQuote: ChumpChangePeople are getting their flights cancelled on them and their baggage is being supposedly flown to their destinations without their owners on the same cancelled flights. There's some decades old software for crew scheduling that crashed. There's new management plundering for profits, and the airline is in a grid-down situation. Luggage could be lost for over 30 days. Alternative means of transportation aren't available, or if available at very high prices. This is a developing story, and airline disaster. There's no official communication coming from the airlines. Their customer service lines are unresponsive. There's a couple of missives on reddit from insiders of the airline. I don't fly, so don't ask me about this mess, but Vegas is a transportation hub and it's the holiday season.
link to original post
Plundering for profits?
link to original post
Southwest did not do well under the previous CEO Gary Kelly. Apparently he knew how bad the tech was, but choose to reduce wages and use the excess cash for stock buybacks rather than updating all of these legacy systems.
Plundering seems like an apt word when a CEO comes in, runs a company into the ground in just a few years, and ejects with a golden multi-million dollar parachute.
link to original post
I fail to see the problem people have with stock buybacks. More corporations should be doing them. And I do not see how taking a carrier from regional to a major is “running it into the ground.”
link to original post
Southwest has been a booming success until the recent events.
Stock buybacks should be illegal. Companies should be required to give that money to shareholders in the form of dividends. It is the giant scam that allows the stockholders from averting/delaying paying taxes on the income! Warren Buffett is the master at this. Not having BRK give a dividend EVER is the greatest tax avoidance in history.
link to original post
Not paying taxes? They did pay taxes---AT THE CORPORATE LEVEL! The reason for buybacks over dividends is because too many people do not understand this simple concept. Why should a stockholder have to pay taxes twice?
More companies should be doing buybacks as they are better than dubious investments like Ford buying Volvo then losing how many billions on it? RJ Reynolds buying Nabisco only to have that all broken up 10 years later? Buybacks return money to the owners.
And oh, yeah. They do not escape taxes because we tax capital gains.
link to original post
Warren Buffett has owned his stock for decades and has not paid ONE PENNY in taxes on the shares he has not sold. Assuming he dies before selling he will have paid NO TAXES on the massive accumulation of wealth his entire life, minus whatever lots he has sold. Buybacks fo return money to the owners is a manner that avoids paying what most would consider ‘their fair share’ of taxes. Dividends are treated like income resulting in the shareholder paying ‘his fair share’.
link to original post
That doesn’t really hang together. The difference between a stock buyback and a dividend, from Uncle Sam’s point of view, is only the tax rate where a dividend is taxed as ordinary income and a share sold back to the company in a stock buyback is taxed as a capital gain (where if the sold share was held for at least a year, it gets the lower capital gains rate).
If a company is going to return $100m to shareholders via dividend or stock buyback, that whole $100m is going to get taxed by Uncle Sam, just a question of at what rate. Uncle Sam doesn’t care if Warren Buffet or Joe Schmo sold into the buyback and pays the tax, as long as they get to tax the aggregate.
link to original post
You forgot to mention the dividends are taxed twice. Which is pure theft on the part of our government. As is paying taxes on inflation when you sell.
Quote: unJonQuote: SOOPOOQuote: AZDuffmanQuote: SOOPOOQuote: AZDuffmanQuote: gamerfreakQuote: AZDuffmanQuote: ChumpChangePeople are getting their flights cancelled on them and their baggage is being supposedly flown to their destinations without their owners on the same cancelled flights. There's some decades old software for crew scheduling that crashed. There's new management plundering for profits, and the airline is in a grid-down situation. Luggage could be lost for over 30 days. Alternative means of transportation aren't available, or if available at very high prices. This is a developing story, and airline disaster. There's no official communication coming from the airlines. Their customer service lines are unresponsive. There's a couple of missives on reddit from insiders of the airline. I don't fly, so don't ask me about this mess, but Vegas is a transportation hub and it's the holiday season.
link to original post
Plundering for profits?
link to original post
Southwest did not do well under the previous CEO Gary Kelly. Apparently he knew how bad the tech was, but choose to reduce wages and use the excess cash for stock buybacks rather than updating all of these legacy systems.
Plundering seems like an apt word when a CEO comes in, runs a company into the ground in just a few years, and ejects with a golden multi-million dollar parachute.
link to original post
I fail to see the problem people have with stock buybacks. More corporations should be doing them. And I do not see how taking a carrier from regional to a major is “running it into the ground.”
link to original post
Southwest has been a booming success until the recent events.
Stock buybacks should be illegal. Companies should be required to give that money to shareholders in the form of dividends. It is the giant scam that allows the stockholders from averting/delaying paying taxes on the income! Warren Buffett is the master at this. Not having BRK give a dividend EVER is the greatest tax avoidance in history.
link to original post
Not paying taxes? They did pay taxes---AT THE CORPORATE LEVEL! The reason for buybacks over dividends is because too many people do not understand this simple concept. Why should a stockholder have to pay taxes twice?
More companies should be doing buybacks as they are better than dubious investments like Ford buying Volvo then losing how many billions on it? RJ Reynolds buying Nabisco only to have that all broken up 10 years later? Buybacks return money to the owners.
And oh, yeah. They do not escape taxes because we tax capital gains.
link to original post
Warren Buffett has owned his stock for decades and has not paid ONE PENNY in taxes on the shares he has not sold. Assuming he dies before selling he will have paid NO TAXES on the massive accumulation of wealth his entire life, minus whatever lots he has sold. Buybacks fo return money to the owners is a manner that avoids paying what most would consider ‘their fair share’ of taxes. Dividends are treated like income resulting in the shareholder paying ‘his fair share’.
link to original post
That doesn’t really hang together. The difference between a stock buyback and a dividend, from Uncle Sam’s point of view, is only the tax rate where a dividend is taxed as ordinary income and a share sold back to the company in a stock buyback is taxed as a capital gain (where if the sold share was held for at least a year, it gets the lower capital gains rate).
If a company is going to return $100m to shareholders via dividend or stock buyback, that whole $100m is going to get taxed by Uncle Sam, just a question of at what rate. Uncle Sam doesn’t care if Warren Buffet or Joe Schmo sold into the buyback and pays the tax, as long as they get to tax the aggregate.
link to original post
I guess you just are unaware of the law. If the stocks are not sold during your lifetime then they are NEVER taxed.
Last post on this as it’s a hijack.
Quote: SOOPOO
I guess you just are unaware of the law. If the stocks are not sold during your lifetime then they are NEVER taxed.
It is amazing that people do not understand that you don't have a gain until you sell the stock.
Quote: SOOPOOQuote: unJonQuote: SOOPOOQuote: AZDuffmanQuote: SOOPOOQuote: AZDuffmanQuote: gamerfreakQuote: AZDuffmanQuote: ChumpChangePeople are getting their flights cancelled on them and their baggage is being supposedly flown to their destinations without their owners on the same cancelled flights. There's some decades old software for crew scheduling that crashed. There's new management plundering for profits, and the airline is in a grid-down situation. Luggage could be lost for over 30 days. Alternative means of transportation aren't available, or if available at very high prices. This is a developing story, and airline disaster. There's no official communication coming from the airlines. Their customer service lines are unresponsive. There's a couple of missives on reddit from insiders of the airline. I don't fly, so don't ask me about this mess, but Vegas is a transportation hub and it's the holiday season.
link to original post
Plundering for profits?
link to original post
Southwest did not do well under the previous CEO Gary Kelly. Apparently he knew how bad the tech was, but choose to reduce wages and use the excess cash for stock buybacks rather than updating all of these legacy systems.
Plundering seems like an apt word when a CEO comes in, runs a company into the ground in just a few years, and ejects with a golden multi-million dollar parachute.
link to original post
I fail to see the problem people have with stock buybacks. More corporations should be doing them. And I do not see how taking a carrier from regional to a major is “running it into the ground.”
link to original post
Southwest has been a booming success until the recent events.
Stock buybacks should be illegal. Companies should be required to give that money to shareholders in the form of dividends. It is the giant scam that allows the stockholders from averting/delaying paying taxes on the income! Warren Buffett is the master at this. Not having BRK give a dividend EVER is the greatest tax avoidance in history.
link to original post
Not paying taxes? They did pay taxes---AT THE CORPORATE LEVEL! The reason for buybacks over dividends is because too many people do not understand this simple concept. Why should a stockholder have to pay taxes twice?
More companies should be doing buybacks as they are better than dubious investments like Ford buying Volvo then losing how many billions on it? RJ Reynolds buying Nabisco only to have that all broken up 10 years later? Buybacks return money to the owners.
And oh, yeah. They do not escape taxes because we tax capital gains.
link to original post
Warren Buffett has owned his stock for decades and has not paid ONE PENNY in taxes on the shares he has not sold. Assuming he dies before selling he will have paid NO TAXES on the massive accumulation of wealth his entire life, minus whatever lots he has sold. Buybacks fo return money to the owners is a manner that avoids paying what most would consider ‘their fair share’ of taxes. Dividends are treated like income resulting in the shareholder paying ‘his fair share’.
link to original post
That doesn’t really hang together. The difference between a stock buyback and a dividend, from Uncle Sam’s point of view, is only the tax rate where a dividend is taxed as ordinary income and a share sold back to the company in a stock buyback is taxed as a capital gain (where if the sold share was held for at least a year, it gets the lower capital gains rate).
If a company is going to return $100m to shareholders via dividend or stock buyback, that whole $100m is going to get taxed by Uncle Sam, just a question of at what rate. Uncle Sam doesn’t care if Warren Buffet or Joe Schmo sold into the buyback and pays the tax, as long as they get to tax the aggregate.
link to original post
I guess you just are unaware of the law. If the stocks are not sold during your lifetime then they are NEVER taxed.
Last post on this as it’s a hijack.
link to original post
Huh? Did you read what I wrote. If there’s a stock buyback, then someone sells and US gets to tax that. So Uncle Sam gets to tax the same amount of money (at a different rate) in a dividend or stock buyback.
Quote: unJonQuote: SOOPOOQuote: unJonQuote: SOOPOOQuote: AZDuffmanQuote: SOOPOOQuote: AZDuffmanQuote: gamerfreakQuote: AZDuffmanQuote: ChumpChangePeople are getting their flights cancelled on them and their baggage is being supposedly flown to their destinations without their owners on the same cancelled flights. There's some decades old software for crew scheduling that crashed. There's new management plundering for profits, and the airline is in a grid-down situation. Luggage could be lost for over 30 days. Alternative means of transportation aren't available, or if available at very high prices. This is a developing story, and airline disaster. There's no official communication coming from the airlines. Their customer service lines are unresponsive. There's a couple of missives on reddit from insiders of the airline. I don't fly, so don't ask me about this mess, but Vegas is a transportation hub and it's the holiday season.
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Plundering for profits?
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Southwest did not do well under the previous CEO Gary Kelly. Apparently he knew how bad the tech was, but choose to reduce wages and use the excess cash for stock buybacks rather than updating all of these legacy systems.
Plundering seems like an apt word when a CEO comes in, runs a company into the ground in just a few years, and ejects with a golden multi-million dollar parachute.
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I fail to see the problem people have with stock buybacks. More corporations should be doing them. And I do not see how taking a carrier from regional to a major is “running it into the ground.”
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Southwest has been a booming success until the recent events.
Stock buybacks should be illegal. Companies should be required to give that money to shareholders in the form of dividends. It is the giant scam that allows the stockholders from averting/delaying paying taxes on the income! Warren Buffett is the master at this. Not having BRK give a dividend EVER is the greatest tax avoidance in history.
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Not paying taxes? They did pay taxes---AT THE CORPORATE LEVEL! The reason for buybacks over dividends is because too many people do not understand this simple concept. Why should a stockholder have to pay taxes twice?
More companies should be doing buybacks as they are better than dubious investments like Ford buying Volvo then losing how many billions on it? RJ Reynolds buying Nabisco only to have that all broken up 10 years later? Buybacks return money to the owners.
And oh, yeah. They do not escape taxes because we tax capital gains.
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Warren Buffett has owned his stock for decades and has not paid ONE PENNY in taxes on the shares he has not sold. Assuming he dies before selling he will have paid NO TAXES on the massive accumulation of wealth his entire life, minus whatever lots he has sold. Buybacks fo return money to the owners is a manner that avoids paying what most would consider ‘their fair share’ of taxes. Dividends are treated like income resulting in the shareholder paying ‘his fair share’.
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That doesn’t really hang together. The difference between a stock buyback and a dividend, from Uncle Sam’s point of view, is only the tax rate where a dividend is taxed as ordinary income and a share sold back to the company in a stock buyback is taxed as a capital gain (where if the sold share was held for at least a year, it gets the lower capital gains rate).
If a company is going to return $100m to shareholders via dividend or stock buyback, that whole $100m is going to get taxed by Uncle Sam, just a question of at what rate. Uncle Sam doesn’t care if Warren Buffet or Joe Schmo sold into the buyback and pays the tax, as long as they get to tax the aggregate.
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I guess you just are unaware of the law. If the stocks are not sold during your lifetime then they are NEVER taxed.
Last post on this as it’s a hijack.
link to original post
Huh? Did you read what I wrote. If there’s a stock buyback, then someone sells and US gets to tax that. So Uncle Sam gets to tax the same amount of money (at a different rate) in a dividend or stock buyback.
link to original post
A stock buyback only results in taxes if the seller is selling at a price higher than they bought. This has ABSOLUTELY NOTHING to do with my Warren Buffett example that he pays no taxes on his BRK stock that appreciates during his lifetime. If BRK paid a dividend he would have. You are being obtuse. Why?
Quote: SOOPOOQuote: unJonQuote: SOOPOOQuote: unJonQuote: SOOPOOQuote: AZDuffmanQuote: SOOPOOQuote: AZDuffmanQuote: gamerfreakQuote: AZDuffmanQuote: ChumpChangePeople are getting their flights cancelled on them and their baggage is being supposedly flown to their destinations without their owners on the same cancelled flights. There's some decades old software for crew scheduling that crashed. There's new management plundering for profits, and the airline is in a grid-down situation. Luggage could be lost for over 30 days. Alternative means of transportation aren't available, or if available at very high prices. This is a developing story, and airline disaster. There's no official communication coming from the airlines. Their customer service lines are unresponsive. There's a couple of missives on reddit from insiders of the airline. I don't fly, so don't ask me about this mess, but Vegas is a transportation hub and it's the holiday season.
link to original post
Plundering for profits?
link to original post
Southwest did not do well under the previous CEO Gary Kelly. Apparently he knew how bad the tech was, but choose to reduce wages and use the excess cash for stock buybacks rather than updating all of these legacy systems.
Plundering seems like an apt word when a CEO comes in, runs a company into the ground in just a few years, and ejects with a golden multi-million dollar parachute.
link to original post
I fail to see the problem people have with stock buybacks. More corporations should be doing them. And I do not see how taking a carrier from regional to a major is “running it into the ground.”
link to original post
Southwest has been a booming success until the recent events.
Stock buybacks should be illegal. Companies should be required to give that money to shareholders in the form of dividends. It is the giant scam that allows the stockholders from averting/delaying paying taxes on the income! Warren Buffett is the master at this. Not having BRK give a dividend EVER is the greatest tax avoidance in history.
link to original post
Not paying taxes? They did pay taxes---AT THE CORPORATE LEVEL! The reason for buybacks over dividends is because too many people do not understand this simple concept. Why should a stockholder have to pay taxes twice?
More companies should be doing buybacks as they are better than dubious investments like Ford buying Volvo then losing how many billions on it? RJ Reynolds buying Nabisco only to have that all broken up 10 years later? Buybacks return money to the owners.
And oh, yeah. They do not escape taxes because we tax capital gains.
link to original post
Warren Buffett has owned his stock for decades and has not paid ONE PENNY in taxes on the shares he has not sold. Assuming he dies before selling he will have paid NO TAXES on the massive accumulation of wealth his entire life, minus whatever lots he has sold. Buybacks fo return money to the owners is a manner that avoids paying what most would consider ‘their fair share’ of taxes. Dividends are treated like income resulting in the shareholder paying ‘his fair share’.
link to original post
That doesn’t really hang together. The difference between a stock buyback and a dividend, from Uncle Sam’s point of view, is only the tax rate where a dividend is taxed as ordinary income and a share sold back to the company in a stock buyback is taxed as a capital gain (where if the sold share was held for at least a year, it gets the lower capital gains rate).
If a company is going to return $100m to shareholders via dividend or stock buyback, that whole $100m is going to get taxed by Uncle Sam, just a question of at what rate. Uncle Sam doesn’t care if Warren Buffet or Joe Schmo sold into the buyback and pays the tax, as long as they get to tax the aggregate.
link to original post
I guess you just are unaware of the law. If the stocks are not sold during your lifetime then they are NEVER taxed.
Last post on this as it’s a hijack.
link to original post
Huh? Did you read what I wrote. If there’s a stock buyback, then someone sells and US gets to tax that. So Uncle Sam gets to tax the same amount of money (at a different rate) in a dividend or stock buyback.
link to original post
A stock buyback only results in taxes if the seller is selling at a price higher than they bought. This has ABSOLUTELY NOTHING to do with my Warren Buffett example that he pays no taxes on his BRK stock that appreciates during his lifetime. If BRK paid a dividend he would have. You are being obtuse. Why?
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Yes now I agree with what you wrote. I don’t believe Buffet would have let BRK pay a dividend if stock buybacks were disallowed. He would have ended up, IMO, keeping the money in BRK and buying more portfolio companies.
We have a disagreement about whether companies should be allowed to buy their own stock and, it seems, whether someone should have to pay taxes on unrealized gains in stock. Happy to carry those over to another thread.
Government will get the money it’s entitled to when he dies.
By the way, I’m no fool. I take advantage of the tax rules as much as I can. If I need to sell a stock I’ve had for a long time I try and sell the underperformers which might be around even. So no tax. While the overprtformers I just hold.
Quote: SOOPOOGovernment may get ZERO If he donates to charity in his will they see zero of it in taxes. For whatever he leaves to heirs, that will be subject to inheritance taxes, but not capital gains taxes.
By the way, I’m no fool. I take advantage of the tax rules as much as I can. If I need to sell a stock I’ve had for a long time I try and sell the underperformers which might be around even. So no tax. While the overprtformers I just hold.
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I’m fine with government not getting a bite if it goes to a 501(c) charity.
Quote: SOOPOOGovernment may get ZERO If he donates to charity in his will they see zero of it in taxes. For whatever he leaves to heirs, that will be subject to inheritance taxes, but not capital gains taxes.
Yes, but only amounts over $12,060,000. The first twelve is exempted.
Quote: gordonm888Let's stay on topic please. SouthWest airlines, not Warren Buffett and tax policy
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Sorry.
Do any of you remember when they would occasionally play games on southwest airlines flights? I don't remember where I was going but the flight attendants asked any person that wanted to play a game to take off one shoe and give it to the flight attendant. After collecting shoes from the participants they handed the shoes back out randomly to anyone that was playing. They started from the front of the plane and asked anyone that was missing a shoe to walk down the aisle and find the person that had your shoe and introduce yourself to them and ask them where they were from or where they are going. When it was over we found out that some of the shoes contained coupon books for free drinks.
