Thread: This appeal from business groups, including those normally avoiding public statements, is a big deal: employers know the effects of #LuzonLockdown on their workers and managers. But it's also important to know why they have to appeal for a special session of Congress... 
As one sober source put it, "If things don't turn around many companies and people are going to be on the streets," meaning broke. Why this grim possibility, I asked. The source pointed out some things most non-business owners don't realize:
1. Most companies only have enough cash for 45 days of operations ("if that," cautioned the source). 2. Companies can (and will) lay off workers to buy themselves some time; 3. But if companies with creditors don't get a break, then companies will go into early liquidation...
to get some money back, while there's still money to get back. 4. As it is, less-established firms like startups already have cases where they have laid of 75% of their staff, to save cash and thus, extend their lifespan.
What the above means is even the most enlightened...
What the above means is even the most enlightened...
companies will be in dire straits; as a matter of survival a continued #LuzonLockdown means a lockdown on the economy, which means unless drastic action is taken, the lifespan of many corporations is only slightly longer than the announced lockdown. Then even if government...
says life can go back to normal, there would have been a mass extinction of companies. So the appeal of the business organizations for Congress to step in, is because it requires the government to go further than individual corporations have (in granting consumers a 30-day...
reprieve from bills --what about the corporations and their creditors?) because the whole system is rapidly operating on fumes. Congress and the government can pledge support, and extend fiscal and other assistance to the public. So now, the executive has to propose to Congress.
