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High manager salaries and billion dollar aid despite Corona? Federal government wants to make an example

2020-03-28T22:03:47.262Z


In return, German corporations must make sacrifices for government aid due to the corona pandemic. Federal Minister of Economics Altmaier speaks in an interview about a precedent.


In return, German corporations must make sacrifices for government aid due to the corona pandemic. Federal Minister of Economics Altmaier speaks in an interview about a precedent.

  • The corona pandemic is having a dramatic impact on many industries.
  • Germany is one of the industrial giants - Sars-CoV-2 , however, presents the nation with a major challenge .
  • Here you will find news on economic development - Click here for the previous reports.
  • All developments on the corona epidemic in Germany - also: Our guide through reporting.
  • Update from 8.30 p.m .: The call for the state rescue fund from the economy is great because of the losses due to the corona pandemic - but how about the other way around? Large companies are willing to do their part to cushion the

    financial distress ? Federal Minister of Economics Peter Altmaier makes an interesting statement in the Frankfurter Allgemeine Sonntagszeitung .

    Corona crisis: Altmaier demands that the managers be accommodating

    According to the government politician (CDU), board members and managers are asked to waive part of their salary due to the economic slump due to Covid-19 . "It is important to me that board members and executives also make a contribution in emergency situations, especially when it comes to bonus payments, " the 64-year-old appeals.

    Union politician Altmeier has already set a precedent : "We have just approved a loan for a large company in the travel industry and have acted accordingly." It is also clear who it is. The travel group TUI itself announced that it is the tourism giant. CEO Friedrich Joussen and colleagues have to accept financial losses so that a bridging loan of EUR 1.8 billion flows from the state development bank KfW.

    Some industries are affected by the Corona crisis even more than others, so it is good if help is provided quickly and consistently. The travel bans triggered by Corona hit TUI particularly hard, and now the Federal Government is helping KfW with loans of over € 1.8 billion.

    - MP Stephan Weil (@MpStephanWeil) March 27, 2020

    Short-time work allowance due to Corona: same regulation for trainees?

    Update from 5.40 p.m .: The German Chamber of Commerce and Industry has asked the Federal Government to extend the regulations for short-time work benefits * to apprentices in times of the coronavirus crisis . Otherwise, companies would find themselves forced to dismiss the trainee. President of the trade, Hans Peter Wollseifer, told the WamS : "We urgently need to prevent companies that have been severely affected by the crisis from doing nothing other than terminate their training relationships".

    Achim Dercks, Deputy General Manager of the German Chamber of Commerce and Industry (DIHK), is tapping into the same line and demands that companies in the crisis “should be able to receive short-time work benefits for trainees from day one”.

    According to reports, the Federal Government assumes that it will pay short-term economic benefits in 2.15 million cases. The Federal Employment Agency assumes 60 percent of the income, for people with children the amount increases to 67 percent. The companies affected by the short-time work allowance are reimbursed for social contributions .

    The approximately 1.3 million trainees in Germany have so far been exempt from this regulation: According to the Federal Training Act, companies must continue to pay the full training allowance for six weeks even without work. And that would be why many companies would fall into trouble. Due to the virus infection of Sars-CoV-2, the Federal Republic is forced to take drastic reactions that put public life to the test, as Merkur.de * reports.

    Corona bottleneck in Germany: medical products instead of sports fashion and cars

    Source article: Given the spread of Sars-CoV-2, there is a bottleneck with regard to medical equipment and also protective clothing. Some countries are already more affected, in Germany preparations are being made to at least prepare for an acute increase in emergencies with a diagnosis of lung disease Covid-19 . Local companies have changed their production in this regard and, contrary to their other operations, have started to manufacture medical equipment.

    At the textile manufacturer Trigema alone, the announcement that production of respiratory masks * would begin triggered an order rush. "Municipalities, police authorities, hospitals, just about everyone" volunteered to order masks, Wolfgang Grupp, Trigema boss, told the Neue Osnabrücker Zeitung . The boss of the sporting goods manufacturer announced that his company would produce around 100,000 protective masks next week, and production had already started this week. In total, Trigema has accepted orders for over 300,000 masks until Easter.

    +

    Many companies are changing their production capacities in times of the corona crisis.

    © AFP / LUCAS BARIOULET

    But there is also criticism: With a price of six euros and the purchase of at least 1000 pieces , the masks from Trigema are not exactly cheap. He was even accused of "rip-off" in this regard, says Grupp, who defends himself for the pricing policy: "I can't produce a disposable product, it just won't work, that would ruin us." International textile companies such as the Italian luxury brand Prada had recently entered the market in the manufacture of protective masks and protective clothing .

    Corona pandemic: 3D printer from Daimler for medical components

    Daimler plans to make its 3D printers available as part of the fight against corona: Jörg Burzer, board member of the automotive giant, offered support in the procurement of missing medical devices and said: "We are ready with our highly competent team and our years of experience Experience in 3D printing technology to make our contribution to the production of medical devices. "

    To this end, the company is in contact with the state government of Baden-Württemberg, among others. "Our 3D printers are definitely available," said Burzer. They could be used for the manufacture of medical components made of both plastic and metal. These devices are usually used in vehicle construction primarily for the development of prototypes.

    Numerous hospitals in the chronically underfunded sector * warn of the danger that, due to a lack of equipment, even existing beds in intensive care units will soon be unusable.

    PF with dpa

    * Merkur.de is an offer of the nationwide Ippen digital network

    Rubric list picture: © AFP / TOBIAS SCHWARZ

    Source: merkur

    All news articles on 2020-03-28

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