Ackerman encouraging Trump and corporate America to shut down country for 30 days.
Ackerman’s plea is calling for country shut down “the only option to rescue the economy” on CNBC’s “Halftime Report”.
Bill Ackerman, founder and CEO of Pershing Square Capital Management, called on President Trump to “shut down the country for 30 days” in an interview with CNBC’s “Halftime Report.”
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Ackerman sees a country shutdown as the only option of saving the economy. “America will end as we know it, I’m sorry to say so, unless we take this option…Capitalism does not work in an 18-month shutdown, capitalism can work in a 30-day shutdown…(but) no business can survive a period of 18 months without revenue.” Ackerman said.
Ackerman urged US companies to put an end to their stock buyback programs and instead use the money they’ve stockpiled from corporate tax relief for helping consumers and businesses.
Ackerman believes the airline, hotel and restaurant industries “will go first.”
“The only shared sacrifice that is going on right now is in the health-care community, the nurses, the doctors, the people taking care of patients. Those people are making enormous sacrifices.”
Ackerman, by the way, said during the “Halftime Report” interview, that he is aggressively buying up Hilton, Restaurant Brands and Starbucks stocks at deep, deep discounts of 50%+.
And again by the way, on March 18, the benchmark was “last 29.5% off its record high” at the end of the trading day on March 18.
Thanks to CNBC’s Eamon Javers, Thomas Frank and Maggie Fitzgerald.
Also read: Podcast: Warning: Coronavirus Fears Leading To Global Recession, Podcast: Coronavirus Declared Pandemic. What Happens Next?, Coronavirus Now Reality in Real Estate Dealings
