Tag: Bailout

Movie Theater Business Urges Congressional Leaders to Fund Bailout

Leaders of the nation’s movie theater business, which has been hammered by the COVID-19 pandemic, are urging Congress to provide bailout funds so the industry can survive.

The letter urges Senate Majority Leader Mitch McConnell, House Speaker Nancy Pelosi, Senate Democratic Leader Chuck Schumer, and House Republican Leader Kevin McCarthy to redirect unallocated funds from the CARES Act to proposals that help businesses that have suffered the steepest revenue drops due to the pandemic. The National Association of Theatre Owners, the Directors Guild of America, the Motion Picture Association and more than 70 directors, producers, and writers signed the letter.

Signers include Wes Anderson, Judd Apatow, James Cameron, Alfonso Cuarón, Clint Eastwood, Paul Feig, Greta Gerwig,
Evan Goldberg, Barry Jenkins, Patty Jenkins, Ang Lee, Sam Mendes, Steve McQueen, Christopher Nolan, David O. Russell,
Martin Scorsese, M. Night Shyamalan, Zack Snyder, Steven Soderbergh, Denis Villeneuve, Taika Waititi, James Wan and Lulu

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U.S. Airlines Make Urgent Call for New Bailout Ahead of October 1 Job Cuts | Investing News

By David Shepardson and Tracy Rucinski

WASHINGTON/CHICAGO (Reuters) – Major U.S. airlines launched a last-ditch bid to persuade Congress to grant them a new $25 billion bailout to help avert tens of thousands of employee furloughs set to begin Oct. 1.

The chief executives of American Airlines

, United Airlines

and JetBlue Airways

and major aviation unions held a news conference on Capitol Hill on Tuesday afternoon calling for a six-month extension of a payroll support program that consisted primarily of grants in exchange for keeping workers on the payroll.

“We’re not going to give up,” American Airlines CEO Doug Parker said, affirming that the airline would furlough some 19,000 on Oct. 1 without fresh aid.

He reiterated, however, that the company itself is not at risk without assistance. “American Airlines is going to be fine,” Parker said.

On Monday, two key Republican senators introduced legislation that would authorize another

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