The Lufthansa theater

From March 3, 2020, speculators such as Heinz Hermann Thiele and others gradually bought into the crashing Lufthansa AG. With an experienced sense for the state pandemic Management, they knew what would happen. Employees, the environment and the state budget are burdened, speculators are rewarded. Responsible restructuring would look very different and would be possible.

At the Extraordinary General Meeting of Lufthansa AG on 25 June, the shareholders approved the rescue plan of the federal government. The state is raising 9 billion euros, as a 20 percent share of the shares and as loans. This is to save the German airline that crashed because of the corona pandemic. The state wants to exit from 2023, after the hoped-for redevelopment.

Mr. Thiele is dissatisfied with his state

This decision was uncertain for a long time. In particular, the new main shareholder Heinz Hermann Thiele had threatened to reject the state rescue package at the upcoming Extraordinary General Meeting of shareholders. By the way, Mr. Thiele is a speculator: under the umbrella of the all-dominating “Corona hysteria”, he had quietly and secretly bought his 15.5 percent of the shares from March 3 to 16, 2020. After the public announcement of the rescue package, he was very, very sure and quickly bought the last 5 percent. So goes “boom”

And now Thiele became cheeky: the influence of the state was too great! The state should deliver its billions, it gets a silent participation – that’s enough for the state, it should shut up, the multi-billionaire informed the Merkel government by FAZ. Thus, our respectively his federal chancellor can be publicly presented without comment. She keeps her mouth shut, she has to govern and call the citizens to mouth and nose protection.

Thiele remained cheeky, all the time from the announcement of the rescue program until one Minute before the annual general meeting. Although the capital-hungry federal government has already been as cautious as possible: with the 20 percent, it remains below the 25 percent stake: it does not even want the blocking minority that is possible with it. And it does not propose its own representatives on the supervisory board: it confesses this right exclusively to Lufthansa supervisory board chairman Karl-Ludwig Kley.

But Mr. Thiele was still very very dissatisfied: although his share package retains its billion-dollar value only by the fact that the state or his State enters, on which Thiele has speculated and could rely. Thiele had also hinted: instead of this state bailout, we could go through bankruptcy! Since you could start all over again, could quickly reduce staff and peel out the lucrative core. “I have now sent my consultants, auditors and lawyers,” he announced via the FAZ. They are supposed to renegotiate. So he did not know at all whether he agreed to the rescue package of the federal government, Thiele threatened until the end. This is how his peers deal with his government.

Besides Thiele also Morgan Stanley, BlackRock& Co

This is how the German government, the executive board and the Supervisory Board of Lufthansa bawled until the last day: how will Mr Thiele decide? While he had also delicately hinted: I am in contact with half a dozen of the next largest shareholders. By the way, these are mostly those who have only just started with the beginning of the pandemic, trusting in their state. These are primarily the US investment bank Morgan Stanley with 7.4 percent and other shareholders, which Thiele did not name.

Still known is BlackRock, the ubiquitous, seemingly inconspicuous co - owner of all DAX-and a few hundred other corporations in Germany. Although BlackRock, in contrast to Thiele and Morgan Stanley and the others, was also a Lufthansa shareholder before. But BlackRock & Co never said anything, were not interviewed like Thiele by FAZ and Handelsblatt and Süddeutsche Zeitung for pages. No, these other unknowns-their privacy was respected. They discreetly let Thiele publicly babble and tactic and demonstrate the state.

Thiele was thus able to stage the Lufthansa rescue as a German patriotic act. Together with Minister Scholz and Altmaier Hilfe, he staged himself as the saviour of the “German champion” Lufthansa. Now that Germany and the EU have to fight for German and European “Champions” after the beneficial “globalization” now in economic decline, torn between the USA and China, more recently!

Finally: Mr. Thiele & Co redeem the state and Lufthansa

So then at the annual general meeting, Mr. Thiele & Co redeemed the government, the executive board, the supervisory board, the media and not least the 138,000 (still)employees of Lufthansa: Thiele agreed to the rescue plan.

By the way, the virtual general meeting with a dozen non-telling figures was a ghost meeting, in several respects: only 38 percent of the shareholders were represented, i.e. Thiele, Morgan Stanley, BlackRock and the new unknowns. However, they were not even there at the virtual meeting, but were represented by a couple of correctly dressed suit wearers, well-earning entrepreneur lawyers. E. G. for Thiele, someone from the Munich-based law firm Gauweiler, which belongs to the CSU member of the Bundestag and a large subsidiary of Gauweiler, pressed the button for digital approval.

By the way, an example of how today at shareholder meetings a small radical and partly unknown minority with a minority of shares makes the decisions or has long since baldowert before the public shareholders ' meeting.

This kind of" economic rescue " systemically includes such smear comedies.

Stocks in and out, stocks up and down: the crisis business model

With the beginning of the pandemic measures from the end of February 2020, air traffic had collapsed. And as of March 3, 2020, the new capitalists had joined Lufthansa AG as the new owners. They had gradually bought up share packages of the crashing airline. The longer the Lockdown lasted, the more shares they bought, gradually. They bought more and more shares in a company that was heading towards insolvency. Mysterious, enigmatic, isn’t it?

No, normal anti-social capitalist crisis Business Today. The leading media scare the small and medium - sized shareholders with the crash of the share values. “The economy” is trudging off, the speculators - called investors-are getting in. In any case, such investors, which are never mentioned in the reports for the stupid people, e.g. in the daily stock market report of the state broadcaster ARD. Stocks down-delicious for the professional speculators.

Every move on the securities market, whether up or down – a business, e.g. for BlackRock with the help of the subsidiary Aladdin: the largest data processing plant of Western capitalism speculates in the nanosecond range with all shares of all stock companies of the Western world. Value losses – value gains-the algorithms take advantage of the smallest difference in the second digit behind the comma in a flash and large volume, simultaneously on all exchanges. For a small fee, Aladdin also advises other speculators, including the Financial Supervisory Authority and the ECB and the Federal Reserve Bank. The financial supervisions with wars then in the case of other lubricating comedies such as now in Germany at Wirecard nothing.

Rescue: who will be saved?

After the rescue commitment, CEO Carsten Spohr announced: we have to cut about 22,000 jobs. By the way, he had been planning this for years before the pandemic. And another couple of tens of thousands have been on the shooting list for some time. The rising competition from abroad, especially the low-cost mass airlines such as Ryan Air, has been putting pressure on for a long time. With the founding of the low-cost airline subsidiaries Germanwings and Eurowings and the sale of the catering subsidiary Sky Masters, Spohr had already made a hesitant start. But now with the sticker Corona it should go right up or down, with state aid.

The unions of pilots, flight attendants and ground staff, i.e. Cockpit, UFO and verdi, are being blackmailed: as many employees as possible into as extensive part-time work as possible, falling salaries, reduced contributions to pension schemes, additionally reduced pensions, unpaid leave, voluntary departure with severance pay. On the other hand, no waivers have been forced on shareholders, e.g. not to hide their share packages in financial havens. So the federal government is not helping the employees.

In addition, a comparison: for a good two million self-employed, the state has distributed about 12 billion in crisis aid, as one-time short-term aid of 2,000 to 15,000 euros. There are still a few million jobs, often precarious. The help runs for three months, then must be billed exactly. What is not eligible as operating costs must be repaid. After three months, the crisis is over, isn’t it?

On the other hand, for one company, Lufthansa, with its 138,000 (still)employees, the state spends a similar sum, with years of guarantees, during which the already few employees are becoming fewer and fewer and the fearful remnants are to become poorer and poorer.

What could Mr. Thiele do better?

Thiele quickly diverted a few billion euros from his estimated 13 billion euros of private assets – that’s just the publicly announced value – and bought the Lufthansa shares. Capital is very mobile if it or its capitalist wants it.

Thiele has grown big and rich with his companies Knorr Bremse and Vossloh. Knorr Bremse is a global leader in braking and control systems for rail and commercial vehicles, including subways and agricultural machinery, rail and door technology, air conditioning systems and energy systems. The company Vossloh also produces turnout and rail fastening systems and locomotives.

This could have been further developed if the federal government wanted to relieve the environment and create new jobs: there is a need for public and better functioning and cheaper local transport systems.

And while the German government and the European Commission are now paying close attention to not selling too much to China, Thiele was allowed to sell the Transportation division to China’s largest railway company: China Railway Rolling Stock Corporation, CRRC. This enabled Thiele to buy Lufthansa shares. Instead of the state saying: My Friend, Vossloh Transportation stays in Germany, in Europe! We build rail systems here!

But no, the federal government has Thiele shift his billions into environmentally deadly aviation. And despite all slimy commitments to climate protection, this rescue package is now also being legally and systemically relieved of VAT on aviation fuel.

The economic rescue package weakens the state budget and destroys the environment.

Thiele’s Role Model: Herbert Quandt

The federal government, supported by the European Commission, is marching in a completely different direction with its Thiele or the Thiele with its federal government. Private profit, state-sponsored, instead of environmental and climate protection.

Thiele as one of the richest Germans has as model another of the richest Germans from better times, he admits nostalgically: his model is Herbert Quandt, the silent Nazi great profiteer, who also became very rich with state aid. Thus, in 1959, as one of the richest Germans, he was suddenly able to stand on the mat with a lot of capital and act as a noble saviour at BMW (Handelsblatt: “with parallels to Lufthansa”) and left his heirs with a billionaire’s fortune: a performance-free cash payment of between 500 and 900 million euros per year for the Quandt/Klatten Clan. And he doesn’t even have to give a thousandth of it for donations to the CDU and CSU, so that everything works so well.

State economy: but yes! But it has to be the right state

Thanks to the relations with the CDU, Knorr Bremse became powerful as a long-term large-scale contractor of the then still state – owned Bundesbahn – 80 percent of sales. Like Quandt, Thiele also had nothing against the otherwise criticized state economy. With the help of the CDU state, Thiele came to a lot in the former GDR.

The big entrepreneur is now celebrated in Wirtschaftswoche as a “child of the economic miracle years and upstart in the best sense of the word”: “he has difficulties with trade unions,” he confessed to the Süddeutsche Zeitung. “People want to be led,” he told Wirtschaftswoche. Knorr Bremse therefore does not have a collective agreement. For this must be worked 42 hours a week, and the guide then distributed to the best bonuses.

He usually doesn’t like it that way with the public: Knorr Bremse only went public in 2018. The majority belongs to the Thiele family, clan, parked in a tax-privileged family holding. And: “the inheritance tax is an expropriation-like encroachment on private property,” he confided to the sympathetic business paper FAZ. The family holding company that uses expensive in addition, in the Bavarian celebrity location green forest, the particularly low trades. Over the past few years, the Clan has received millions in dividends from a Luxembourgish letterbox company, reports the Süddeutsche Zeitung, and so on.

Those who pay as little tax as possible get the fattest state aid – Merkel, Altmaier, Scholz, von der Leyen are at the forefront of this. The rows behind seem firmly closed. A state stands firm. Greasy comedy.

BlackRock: 160 letterbox companies for Lufthansa shares

Whoever gets the thickest state aid thus contributes to the fact that the state will continue to have less and less tax revenue in the future. And who will pay back the state bailout debt now?

The federal government owes 128 billion euros to save companies like Lufthansa, which are already heading for recession before the pandemic, without conditions and without co-determination. Germany is also the biggest debt maker in the additional 750 billion bailout package of the European Union. The repayment of this debt has been postponed far into the bad future, is scheduled to begin in 2028 and run until 2058 – for 30 years.

And with what does Germany want to repay its many generous rescue debts? With the help of speculator Thiele? With more taxes with the other big tax refugees obviously not either. The delicately hinted consideration that state aid may only go to companies that do not maintain subsidiaries in financial havens – that was quickly off the table. For this Thiele & Co did not even need to bat an eyelash.

And just as an example, because we are already there, and everything that does not occur in the Tagesschau and in the heute journal and in the FAZ and in the Süddeutsche and in the Staatsfunk Deutschlandfunk: the Lufthansa co-rescuer BlackRock or co-speculator has distributed his Lufthansa shares to 160 letterbox companies. This is the capital of the super-rich BlackRock customers, domiciled in a dozen financial havens between the EU’s flagship state of Luxembourg, Delaware and the Cayman Islands.

The falling Lufthansa AG was finally removed from the DAX, the noble Club of the 30 Most Beautiful stock companies in Germany, because of the already before the pandemic falling share value. In return, the housing group Deutsche Wohnen AG, which is also otherwise rising with profits and increased rents, joined the club. Just so you don’t forget: BlackRock is also a major shareholder at Deutsche Wohnen.

Lucrative illusions: German and European Champions

The European Commission also quickly approved this Lufthansa rescue. Just like the other lucrative smear comedies in the EU. Together with 10 billion euros, the French and Dutch governments are allowed to save the similarly crashed airline Air France/KLM. Whereas the EU actually supports the free market economy and opposes state subsidies, in accordance with the liberal construct of lies, but in reality represents the largest bureaucratically managed state economy.

According to the International Air Transport Association IATA, Western states are now pumping about 120 billion dollars into “their” airlines. With similar speculators and practices. The Trump administration is helping the big four US airlines with 50 billion dollars. Likewise, the fiercest “globalizers” in Europe, the German, French and Dutch governments and the European Commission itself, rely on national and European Champions.

This is irresponsible bullshit. The times are over. When the second largest airline group in Germany, Air Berlin, was recently insolvent and was also supported by state Trara in the short term and then quickly disappeared: did anyone notice? Does anyone remember? The gap was quickly closed.

Even if the old, expensive, national, crashing Champions are not saved, all still desired flights would become possible again in a short time. There is an oversupply. And since fewer people are flying anyway, for many reasons: because many people are earning even less now and in the future anyway, because environmental awareness is taking hold now, because corporations are now prescribing video conferences to their managers, also in order to save the luxurious and imbecile domestic flights of Lufthansa, KLM&Co.

But no: the EU also promotes the antisocial privileges of the very richest capitalists, not only of the locals, but also of those from the most violent and antisocial capital location. Sick health systems, sick economic systems: everything is continued. However, digitized. Which also leads to the ubiquitous major shareholders of Google, Apple, Amazon, Facebook and Microsoft: you know, right?

Not only Germany needs a new government and new investors, but also the European Union needs this. Survival-necessary.