Cruise Lines Shut Out of Stimulus Bill

                           

                   Cruise Lines Shut Out of Stimulus Bill Aid   Barrons

Carnival, Royal Caribbean,and Norwegian Cruise Line Holdings 

  Left to their own devices to find more sources of liquidity        Recipients of aid,Including loans or loan guarantees,                                                                                           

1. Must be “organized in the United States”
2. Under U.S. laws,
3. Have significant US operations and
4. Have a majority of its employees based there                                                                                

Companies are incorporated abroad-Liberia,Panama,Bermuda.                     

• Pay negligible U.S. taxes
• Overwhelmingly use Foreign Crews
• Phillipino,Central American,Ex USSR
• Avoid US and EU employment laws  
• Do not allow Unions
• Pay Less than even US Minimum Wage                                                                                                                                        In line with CYCLOPS urging, Democratic Senators              deleted Cruise Companies from Moscow Mitch proposal.    Pelosi blocked them from House version.                                              
• Royal Caribbean,has secured a commercial credit facility.
•  $2.2 Billion
• Analysts note cruise companies have a year of liquidity.
• Already laid off tens of thousands of non US workers.
• That is, do not deserve NEED a bailout                                                                                                                                                                                                                    In a press briefing last night Trump :                                                     
• Didn’t rule out helping these companies
• Down the road.
• “We are going to work very hard on the cruise-line business
• We are going to try to work something out,”
• Knows the CEOs very well
• Very fine people.
• “Colleagues from the Leisure Business”                                                                                                                                                           IN NANCY WE TRUST