Well, at least money is still going to the important people…
~
The newly identified trades come as Sen. Richard Burr is under federal investigation for selling stocks ahead of the coronavirus stock market crash.
The chairman of the Senate Intelligence Committee, Richard Burr, sold off almost $47,000 dollars worth of shares in a small Dutch fertilizer company in 2018, just weeks before its stock began a sharp 40% collapse.
Beginning on Sept. 5, 2018, Burr and his wife sold off their stake in the company, OCI, in three days when its shares were priced near their highest point in the last four years.
A month later, the company, which is not traded on a U.S. stock exchange, began to falter, completing its dramatic fall after news that the company failed to meet quarterly earnings expectations.
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“Just on the face of it, it’s unusual. How does he even know this Dutch company exists with all he has to do as chair of the Intelligence Committee and as a senior senator,” Olson said. “How does he have time to research obscure companies in Holland?”
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By selling when they did, the Burrs avoided a decline in share price that the company has yet to recover from. The stock traded at 29 euros a share on Sept. 5, near the high point for the last four years, and fell 42% by the end of that year. OCI’s stock is now selling at about a third of its value compared with when Burr first invested.
And churches (that don’t pay taxes) get to participate in that sweet, sweet socialism…
~
In a development that could challenge the Constitution’s prohibition of any law “respecting an establishment of religion,” the federal government will soon provide money directly to U.S. churches to help them pay pastor salaries and utility bills.
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A key part of the $2 trillion economic relief legislation enacted last month includes about $350 billion for the Small Business Administration to extend loans to small businesses facing financial difficulties as a result of the coronavirus shutdown orders.
Churches and other faith-based organizations, classified as “businesses,” qualify for aid under the program, even if they have an exclusively religious orientation.
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“There is a portion of that revenue that just by virtue of people’s habits and practices doesn’t come back,” Vice President Pence reportedly said in a recent conference call with U.S. pastors.
In introducing the new SBA program, Treasury Secretary Steven Mnuchin said Pence and President Trump “made sure” that churches would be included in the program.
For the most part, the people running companies don’t care about the company. They care about making money from the company, and there is NO long term thinking. Make a quick pile of cash, and if it runs the company into the ground, pocket the cash, get out with a golden parachute, and just go to the next one.
I’m not anti-capitalism, many in business are righteous and progressive. I’ve taken a huge pay cut in my business to keep employees. Benioff’s practically a hippy… Gates is giving it all away. Local journalism is on life support, there isn’t a lot they can cut.
Btw, virus just hit Non Sequitur. It’s been in That a Baby for a while but today’s good. Comic Kingdom doesn’t have much that I follow but none of them have it yet…
Might work, Winslow, if it were truly a local newspaper. But these days, too many (nearly all) “locals” are owned by major chains, with upper “management” that insists on keeping their top-heavy compensation.
braindead Premium Member almost 5 years ago
No Republican* would ever say that. It’s against their religion*.
.
*Now the Party Of Trump
Sanspareil almost 5 years ago
The bar disappeared in the last panel
Silly Season almost 5 years ago
Well, at least money is still going to the important people…
~
The newly identified trades come as Sen. Richard Burr is under federal investigation for selling stocks ahead of the coronavirus stock market crash.
The chairman of the Senate Intelligence Committee, Richard Burr, sold off almost $47,000 dollars worth of shares in a small Dutch fertilizer company in 2018, just weeks before its stock began a sharp 40% collapse.
Beginning on Sept. 5, 2018, Burr and his wife sold off their stake in the company, OCI, in three days when its shares were priced near their highest point in the last four years.
A month later, the company, which is not traded on a U.S. stock exchange, began to falter, completing its dramatic fall after news that the company failed to meet quarterly earnings expectations.
✄
“Just on the face of it, it’s unusual. How does he even know this Dutch company exists with all he has to do as chair of the Intelligence Committee and as a senior senator,” Olson said. “How does he have time to research obscure companies in Holland?”
✄
By selling when they did, the Burrs avoided a decline in share price that the company has yet to recover from. The stock traded at 29 euros a share on Sept. 5, near the high point for the last four years, and fell 42% by the end of that year. OCI’s stock is now selling at about a third of its value compared with when Burr first invested.
~
https://www.propublica.org/article/senate-intel-chair-sold-dutch-fertilizer-stock-in-2018-right-before-a-collapse
Silly Season almost 5 years ago
And churches (that don’t pay taxes) get to participate in that sweet, sweet socialism…
~
In a development that could challenge the Constitution’s prohibition of any law “respecting an establishment of religion,” the federal government will soon provide money directly to U.S. churches to help them pay pastor salaries and utility bills.
✄
A key part of the $2 trillion economic relief legislation enacted last month includes about $350 billion for the Small Business Administration to extend loans to small businesses facing financial difficulties as a result of the coronavirus shutdown orders.
Churches and other faith-based organizations, classified as “businesses,” qualify for aid under the program, even if they have an exclusively religious orientation.
✄
“There is a portion of that revenue that just by virtue of people’s habits and practices doesn’t come back,” Vice President Pence reportedly said in a recent conference call with U.S. pastors.
In introducing the new SBA program, Treasury Secretary Steven Mnuchin said Pence and President Trump “made sure” that churches would be included in the program.
~
https://www.npr.org/sections/coronavirus-live-updates/2020/04/06/828462517/another-break-from-the-past-government-will-help-churches-pay-pastor-salaries
Ignatz Premium Member almost 5 years ago
For the most part, the people running companies don’t care about the company. They care about making money from the company, and there is NO long term thinking. Make a quick pile of cash, and if it runs the company into the ground, pocket the cash, get out with a golden parachute, and just go to the next one.
William Robbins Premium Member almost 5 years ago
I’m not anti-capitalism, many in business are righteous and progressive. I’ve taken a huge pay cut in my business to keep employees. Benioff’s practically a hippy… Gates is giving it all away. Local journalism is on life support, there isn’t a lot they can cut.
William Robbins Premium Member almost 5 years ago
Btw, virus just hit Non Sequitur. It’s been in That a Baby for a while but today’s good. Comic Kingdom doesn’t have much that I follow but none of them have it yet…
gammaguy almost 5 years ago
Might work, Winslow, if it were truly a local newspaper. But these days, too many (nearly all) “locals” are owned by major chains, with upper “management” that insists on keeping their top-heavy compensation.
MichaelSFC90 almost 5 years ago
It’s like saying to a politician, “Want to save the taxpayer money? Have you considered taking a pay cut?”
Cheapskate0 almost 5 years ago
All in all, a great toon from Scott.
On second thought, the last couple of weeks, has Scott changed his spots?