Posted on 03/26/2020 11:57:09 AM PDT by C19fan
Cruise lines are among the businesses that have suffered the most fallout from the coronavirus outbreak. And the major ones could get left out of the bailout fund included in the $2 trillion stimulus bill the Senate passed Wednesday night. The bill allocates $500 billion to distressed businesses that can apply for loans or guarantees from a fund overseen by Treasury Secretary Steven Mnuchin. To be eligible for that relief, however, a company must be “created or organized in the United States or under the laws of the United States” and “have significant operations in and a majority of its employees based in the United States.”
Several major cruise lines, however, are not incorporated in America. Carnival, for example, is incorporated in Panama, although it has a U.S. entity and a headquarters in Miami. Its shares trade on the New York Stock Exchange. Cruise lines also typically employ many foreign workers on their ships, who can be exempt from U.S. minimum wage requirements.
(Excerpt) Read more at cnbc.com ...
Exactly. These cruise lines made a business decision to avoid US taxes and now they will avoid the benefit of those taxes.
Most cruise ships are registered in foreign countries and their crews entirely composed of foreigners. Why should the USA give them one dime?
You pays your monies, you takes your chances.
Many of the lines would play ball in the USA if it wasn’t for the union loving Jones Act.
they’ll carve out something for the cruise lines in the next pork-ulus bill...
Florida too important
Princess incorporated in Bermuda.
Exactly. And it’s a luxury service. Tighten the belt, Princess.
They fly their flags under and pay taxes to foreign countries. Let THOSE countries bail them out.
They don't even HIRE Americans as anyone who's cruised knows.
More people here on FR need to learn about this before criticizing the cruise lines. If they all had to follow this rule, there would be no cruises.
Exactly! They flag their ships in Liberia etc solely so they can avoid US corporate taxes. Their employees are mostly foreign. They are not a critical industry like aviation. They should get nothing. Tell them to go begging to Liberia.
Not a single f’ing dime!
“They don’t even HIRE Americans as anyone who’s cruised knows.”
They can’t hire Americans. If they did that at American pay scale, there would be no cruises because they’d be unaffordable. The cruise employees are rock stars in their home countries; scoring a job with a cruise line is about as good as it gets. It’s not an easy life, but they’re taking care of their families.
Carnival Cruise Lines - Wal-Mart of the Seas
The Jones Act is ridiculous. We’ve heard for a few years that that was going to be ended, but it never has. So stupid. On a cruise to Hawaii, round-trip from LA — USA to USA — the ship has to stop in Mexico or Canada once.
“Major cruise lines could be left out of the coronavirus stimulus bailout”
If they are foreign-owned then they should not even get one thin dime!
Exactly. And if they did, I doubt you'd get near the service you do from say, the Filipinos.
“they’ll carve out something for the cruise lines in the next pork-ulus bill... Florida too important”
Major cruise ports in Florida, California, etc., hire so many Americans. Also, their call centers are based here. Lots of American employees.
Your screen name....lol.
“Carnival Cruise Lines - Wal-Mart of the Seas”
Ghetto of the Seas. We were on ONE. Dreadful.
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