Thread: CoronaVirus ==> Empty Shelves

Originally Posted by FenceFurniture

Ahh, that's probably a "nope". The story comes from the USA, so is based on whatever their tax system/self employed system/company system is - certainly different to ours to some extent.

The first clue was the tax rate of 59% - I've never see a rate that high here, but you only had to click on the link in the original post here to see it goes an American site that published it in 2008.

Anyhoo, as you say, it's irrelevant, and certainly is irrelevant to this thread.

Mate your response is like a politicians one playing with semantics. Play with the tax rate percentages all you like, the principal of the parable does not change.
I don’t know why people don’t like the truth, I for one am quite happy they pay/generate all the tax they do, I don’t know where else we are going to get it from bar smokes and pokies

Originally Posted by Beardy

Mate your response is like a politicians one playing with semantics. Play with the tax rate percentages all you like, the principal of the parable does not change.
I don’t know why people don’t like the truth, I for one am quite happy they pay/generate all the tax they do, I don’t know where else we are going to get it from bar smokes and pokies

Thank you Beardy, a breath of sanity. I couldn't have summed it up better:

1) The principle of the parable does not change
2) I don’t know why people don’t like the truth (me either!)
3) I am quite happy they pay/generate all the tax they do. The more the merrier!

I don't really want to spend the time going back through this thread to find the reference or references from posters quoting John Hopkins as a primary source, but according to Worldometer, John Hopkins source their data from the Worldometer database.
source: Worldometer - About us
quote: Worldometer's Covid-19 data is trusted and used by Johns Hopkins CSSE, Financial Times, The New York Times, Business Insider, and many others.

not that it really matters.







Has anyone else noticed that Scott from Marketing is starting to look a little the worse for wear in the last few days?

Originally Posted by ian

Has anyone else noticed that Scott from Marketing is starting to look a little the worse for wear in the last few days?

No I haven't noticed. But it would not surprise me if he is with the burden he is carrying right now. I would be more concerned if I noticed that he is fresh, carefree and relaxed. That surely would not be a good sign.

It wouldn't matter who was PM at the moment, who ever it is would be under enormous pressure, also all those who have the responsibility of advising, developing strategies and most of all the front line medical personnel, it won't hurt a few people here to take a chill pill and display a bit more respect, no one is perfect but everyone is trying their best regardless of anyone's particular view.

Originally Posted by Beardy

Mate your response is like a politicians one playing with semantics. Play with the tax rate percentages all you like, the principal of the parable does not change.
I don’t know why people don’t like the truth, I for one am quite happy they pay/generate all the tax they do, I don’t know where else we are going to get it from bar smokes and pokies

Nah, I'm not disagreeing with the basic principle at all. I was only pointing that you rebuttal was based on it being PAYG tax in Australia, where it's actually based on the USA system - whatever that is (and the first clue for me to that was the 59% rate). That's all - I have no other argument with it. It's a bit lame, but....

Originally Posted by ian

I don't really want to spend the time going back through this thread to find the reference or references from posters quoting John Hopkins as a primary source, but according to Worldometer, John Hopkins source their data from the Worldometer database.

Thanks Ian. I've just been sent another important Covid-19 study result done by JHU:

Study: COVID-19 Impacts Men, Women More Than All Other Genders Combined | The Babylon Bee

A week ago, who would have thought hat a Liberal PM would come out with this much cred
Prime Minister Scott Morrison to spend $130 billion on wages scheme to support jobs during coronavirus pandemic - ABC News (Australian Broadcasting Corporation)

Bravo.
Well done, Scott.



Now to sort out a good plan for people paying rent

Originally Posted by ian

Has anyone else noticed that Scott from Marketing is starting to look a little the worse for wear in the last few days?

I don't think I've watched him for about 3 days, but I'll bet he's not sleeping too well. Damned tough job at the moment, and probably about as tough as the front line medical staff, but in a different way. That doesn't change the fact that he was slow on the uptake, which has made it more difficult than it needed to be, but yeah, very stressful time for him and the Cabinet.

It might be the making of him as a PM actually, especially if we can continue in what appears to be a relatively good position, compared to other countries. In the last 48 hours the USA has increased cases by 32% (which is less than doubling every 3 days), and ours have increased by 25%. Deaths for USA (3170) up 45%, Aust (18) 12½%.

An increase of 26% per day results in doubling every three days.

Originally Posted by ian

Now to sort out a good plan for people paying rent

Well if the job retention/wages scheme works out well then surely that will greatly reduce the need for rent relief.

A message at 11am Sunday was what prompted me to post on Sunday. We had to fill in a risk assessment for working from home and fill in a capability inventory. Monday we were told, if possible to work from home. News last night basically confirmed it - even the Police Commissioner Referred to it as a lock down this afternoon.
However an email this afternoon has me wondering. Summarised as follows: schools, TAFE and Unis are considered to be essential services therefore they are to stay open. All the new rules eg. 2 persons max etc don’t apply. Basically the only one mentioned was the 1.5m rule.
So, is it work from home, work from work, online classes, actual classes ???
Hopefully someone will clarify this tomorrow.

As predicted, Virgin Airlines has started rattling the begging bowl for a staggering $1,400 million. Must admire their chutzpah.

According to their last financial report (2019) they lost about $1,000 million in the previous two years, and had balance day "interest-bearing liabilities - bank loans and bonds - of just over $3,000 million. Because they are not trading profitably they must borrow even more just to pay the interest!

Last week they had a market capitalisation of around $600 million. With debt of $3,000 mill their debt:equity ratio is a staggering 5:1. This is well into junk bond territory. Any D:E ratio above 2:1 is usually viewed as adventurous. And the company owes another $1,700 mill to its clients for airfares paid in advance.

And the company has virtually no collateral - almost all its aircraft are leased. Oh, and the lease payments must still continue even though the fleet is not flying.

And they want a loan of $1,400 milllion, even though they have virtually zero ability to make interest payments in the foreseeable future or to may loan repayments. If approved it will become a grant, not a loan - shall we call it a zero interest non-repayable loan?

Virgin has about 10,000 employees; That $1,400 mill amounts to $140,000 per job.

Pure chutzpah.

Originally Posted by GraemeCook

Virgin has about 10,000 employees; That $1,400 mill amounts to $140,000 per job.

Pure chutzpah.

Dont forget the fat bonuses to all the executive.....

Originally Posted by GraemeCook

As predicted, Virgin Airlines has started rattling the begging bowl for a staggering $1,400 million. Must admire their chutzpah.

I read that too, and they're taking quotes out of the climate change industry playbook to support their case saying they are at a "tipping point" (and possibly even in unchartered waters)...

Is it also true that Qantas has its hand out for $4.5 billion too?

Maybe we can't afford air travel? Perhaps we could go back to coal powered steam ships... oh,oh..we knocked that on the head, didn't we?