Elizabeth Warren just laid out 8 conditions that companies should accept for government bailout money during the coronavirus crisis
Sen. Elizabeth Warren unveiled eight conditions on Monday that companies must accept for emergency federal funding during the coronavirus crisis.to aid the airline industry, which has been battered by a wave of cancellations as the coronavirus spreads, compelling Americans to cancel travel plans and stay home. It would be part of a $1 trillion stimulus plan to shore up the economy and inject it with a deluge of cash.
"Let me be clear: We're not doing no-strings-attached bailouts that enrich shareholders or pay CEO bonuses. Period," WarrenCompanies must maintain payrolls and use federal funds to keep people working.Companies would be permanently banned from engaging in stock buybacks. Businesses would have to provide at least one seat to workers on their board of directors, though it could be more depending on size of the rescue package.Corporate boards must get shareholder approval for all political spending.
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