Major cruise lines could be left out of the coronavirus stimulus bailout

CNBC ^ | March 26, 2020 | Lauren Hirsch

[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.

[Jeff Chandler]

thousands were trapped . . . get plastered . . . get it on with women you just met . . . stuff their faces at the buffets.

You should write advertising copy for them.

[gcparent]

Ensenada is worse than Tiajuana.

[A_Niceguy_in_CA]

The average company pay for a crew member on Panama flagged Carnival Cruiselines is $20/day for 10-18 hour shift for the average of 1000 crew members per ship. They do share tips 1/1000 and share a sleeping area with 7-11 others, and share 1-2 bathrooms, and get free rice, beans, bread, and water with option to purchase beer for only $1.50 cup. Before Covid-19, they sometimes received passenger leftovers to eat.

[gcparent]

Thats sad. But the ship was not built or registered in the usa and most employees are not americans. How is that our problem? Tourism down in Europe. Is that our problem?