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United States Businesses Government Technology

Shutdown Hits Industries Nationwide (wsj.com) 664

The partial government shutdown is affecting a wide range of business and financial concerns nationwide. From a report: Shuttered government offices are stalling the approval of new loans, initial public offerings, the processing of tax documents, and the approval of new products such as prescription drugs, among other effects. While some programs are reopening on a temporary basis or providing workarounds for affected companies, most services won't return to normal until the government fully reopens and 800,000 federal workers sift through the backlog.

Here is a round up of the impact: The partial closure of the Securities and Exchange Commission is delaying the ability of companies to open the IPO market. Companies that were seeking to list shares in January are delaying plans since the regulator has stopped reviewing and approving new and pending corporate registration statements. Airlines expect to have sluggish revenue growth in the first quarter in part because of revenue lost from government travel cancellations. Delta Air Lines Inc. Chief Executive Ed Bastian, for instance, said the shutdown would cost his airline $25 million in lost revenue from government travel. The U.S. Food and Drug Administration has dramatically curtailed inspections of domestic facilities at food-processing companies during the shutdown, though unpaid inspectors have resumed work inspecting higher-risk products such as fresh fruits and vegetables, eggs, seafood and dairy products.

At the Internal Revenue Service, the shutdown has created delays in getting some employer identification numbers, holding up some routine business deals. Some small-business loans are also stuck in limbo. The Small Business Administration has stopped approving routine loans that the agency backs to ensure entrepreneurs have access to funds, halting their plans for expansion and repairs and forcing some owners to consider costlier sources of cash. The government process for reviewing proposed mergers has been slowed by the shutdown, but it is still operating. Businesses that have government contracts are feeling the strain across a variety of industries, including the building of highways and bridges.

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Shutdown Hits Industries Nationwide

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  • Trump owns it (Score:5, Informative)

    by Anonymous Coward on Monday January 21, 2019 @11:10AM (#57995966)

    “I am proud to shut down the government for border security, Chuck. I will take the mantle. I will be the one to shut it down. I’m not going to blame you for it.”

    Donald Trump

    • I never thought I'd live in a time when a US prez needs a spanking. That's at least the usual cure for a sullen kid in the terrible two that throws a tantrum for not getting the toy he wants.

  • by DatbeDank ( 4580343 ) on Monday January 21, 2019 @11:17AM (#57996006)

    If the government can't be assed to get it self running properly, then anything that previously requires some government oversight should be allowed to move forward without the shutdown government holding them back.

    Delayed IPO? Go on ahead with going public.
    New Drug? Not a problem, do your studies and use some good judgement. Besides if you fail you get sued which is a nice trade off.
    Tax Payments? Sucks to be you government, can't figure yourself out your crap can't get paid.
    Airport Security? No more lines at the airport.
    Air traffic Control? Anarchy of the skies!

    The last one was a joke. ATC should be airport employees and not FAA employees like how it is in everywhere else in the world.

    • by mysidia ( 191772 )

      Besides if you fail you get sued which is a nice trade off.

      I agree the government's failure to review and approve lawful applications within X days
      (No more than, for example, 10 days) should result in automatic forced approval.

      The risk of being sued requires the courts to be funded and operating, which they probably won't be for too longer.

    • and you won't like the results.

      Delayed IPO? Great Depression 2.0 New Drug? Snake Oil. Tax Payments? They already have your money, you won't get your refund. Airport Security? 9/11 2.0

      The FDA isn't inspecting food right now. If this keeps up sooner or later we're gonna have an outbreak. If you have small children they're going to die. Same if you're elderly.

      Folks really, really underestimate how important and beneficial the government is. That's because most of the time you're dealing with Governm
      • Airport Security? 9/11 2.0

        Any time the run tests on what security screeners actually catch, it's something like an 70% failure rate [forbes.com] - for things like guns. It is laughable to claim they are the reason we've not had more serious incidents.

        A this point airline passengers are savvy enough there's never going to be a 9/11 2.0, even if you simply abolished the TSA...

        You could easily replace that whole meaningless machinery with randomly placed undercover armed security on planes (the airlines could handle that,

        • I'm not worried about TSA -- the real security measures are things like reinforced flight deck doors + 2-person rule, non-cooperation with hijackers, etc. None of those are controlled by TSA. If you're worried about bombs, you can have airport police sweep a line with explosive-sniffing dogs and hand-search any luggage that they alert on.

          I'm worried about air traffic control. Stressful as hell job that's made more stressful by worries about money, and consequences of failure can be a disaster.

      • Let's address this:

        1. How in God's name is an IPO going to cause depression 2.0? If Goldman and the other Banks underwrite a junk business that's on them and I recall a few IPOs that went under the open price. No depression there.

        2. You mean like all of the essential oil peddlers who have been claiming all sorts of things even before the government shutdown?

        3.The IRS has around $200 of my money because I correctly calculated how much I should send to the government. So no refunds aren't a big deal. If you'r

      • Hell I don't think that's really hitting it home enough. If a shutdown allowed business to run free, businesses would literally start lobbying to shutdown our government every chance they could get. They would literally spending millions on ads to incite enough anger on any one topic to force shutdowns all of the time. It literally rewards businesses for successfully launching campaigns to end or government on a continual basis. The entire point is to make it hurt when a the government shuts down so tha

    • by werepants ( 1912634 ) on Monday January 21, 2019 @12:18PM (#57996508)

      This right here is the problem with modern politics. People like you have given no real thought to what life was actually like 100+ years ago, and sit and criticize the foundations of the very institution that allows you to be a complacent armchair critic in the first place.

      Without government, there's a good chance you wouldn't be literate.
      Without government, we wouldn't have had the research dollars (or more importantly) the free speech protections that enable science and ultimately lead to things like the computer and network infrastructure that you are using to bitch and moan.
      Without government, you would stand a very good chance of not being here in the first place, thanks to childhood mortality prior to sanitation mandates, food inspection, food stamps and vaccination requirements lowering childhood mortality from 300/1000 in the early 1900's to less than 1/1000 today.
      Without government, there would be nothing to keep anybody who wanted to from taking all of your possessions, or enslaving you, or just killing you for entertainment.
      Without government, companies can and will put things like radium in your beverage, they will put workers in harm's way to save a few bucks, and they will keep you busy 16 hours a day, 7 days a week so you don't have time to post ignorant rants on the internet in the first place.

      Life was brutal and short prior to effective government. There are still plenty of places today that are governed weakly or not at all, and childhood mortality remains extremely high in these places.

      The problem is, making big changes to life requires years or even generations - you don't build up an economy in a month, and you don't destroy it in a month. You don't produce a vibrant scientific community, or a skilled workforce, or a powerful military, or an innovative tech sector without serious patience and investment. But people like you swallow the GOP's bullshit line that "government IS the problem" without giving a moment's thought to the real sources of prosperity - those being stability, knowledge, trade, and liberty.

      If you want to live in a place without a powerful, liberal government, go ahead - even in this day and age, there are plenty of countries like that available. But don't sabotage mine because you're too shortsighted to understand where your comfortable life comes from.

  • by Vanyle ( 5553318 ) on Monday January 21, 2019 @11:19AM (#57996028)

    Why is everything here getting so political? I read about this on every other news feeds, I don't need it here as well.

    • by bobbied ( 2522392 ) on Monday January 21, 2019 @11:26AM (#57996086)

      Why is everything here getting so political? I read about this on every other news feeds, I don't need it here as well.

      Then WHY did you click on this story and post a comment?

      It's not like it wasn't readily apparent what this story was about and what the comments would look like.

    • by rsilvergun ( 571051 ) on Monday January 21, 2019 @11:37AM (#57996176)
      this massively impacts our lives. If this keeps up the economy will tank. Then we're gonna start seeing mass layoffs to boost stock prices.

      Politics impact every aspect of your life. This is the "Stuff that matters" part of the tag line. There's a taboo on talking about them because our ruling class would like very much for you and me to leave all that icky government stuff up to them.
    • The problem is that the Republican party is now run by an admitted racist, sexist, senile bastard.

      The rest of the Republican party openly pisses on the constitution by doing things like preventing a sitting President from appointing Justices to the Supreme Court.

      This is the new way: once the Republic ass hats return to the normalcy of at least pretending to be bi-partisan then the Slashdot world will return to more of a normalcy.

      https://en.wikipedia.org/wiki/Racial_views_of_Donald_Trump

  • by RyanFenton ( 230700 ) on Monday January 21, 2019 @11:26AM (#57996088)

    Reminds me of a LOT of cyberpunk scenarios, where international companies and mobs start carving up nations, using people's conservative traditions to make a mockery of everything those traditions mean, in order to take everything from them.

    Explains that odd twist in the smile that pops up on Republican faces when they tell bald-faced lies more than most anything else.

    Ryan Fenton

    • using people's conservative traditions to make a mockery of everything those traditions mea

      like christmas being a celebration of materialism?

    • by guruevi ( 827432 )

      The interesting thing is that the ONLY times in history when someone used people's values and traditions and turned them against them was borne out of socialism. Hitler, Stalin, Franco, Mussolini, Pol Pot, Chavez all appealed to people's disdain for corporations and government and willingness to give up everything for 'free stuff'. Your life may be miserable, but it would be a lot more miserable if you believe the government can help you, at least (healthy market) corporations have limits and a reason to ke

      • Not really - as the other poster alluded to, all throughout history, traditions like Christmas were used in all kinds of ways. Traditions are partly rules, used as rules tend to be used.

        In the age of Mercantilism, pilgrim groups were pushed to give to their causes and trading partners, but to ask for little, and never show any extravagance for the riches they were shipping back.

        That's basically making virtue and tradition out of feudalistic ideals. Really a classic reproduction of the cyberpunk view of mo

  • by b0s0z0ku ( 752509 ) on Monday January 21, 2019 @11:34AM (#57996152)

    FDA, Air Traffic Control, Parks Service, etc are all needed. But yet the media chooses to harp on the plight of the poor TSA smurfs. You know, the people who say "papers please" before you're boarding a flight in your own country and make you pass through a nudie-scanner or get your crotch groped by them. Yeah, yeah, they're "just doing their jobs." Guess what? If no one was willing to do the job, the job wouldn't be so obnoxious.

    Keep everything else, but if TSA were all fired (but we kept real security measures like armed crew, air marshals, reinforced/locked flight deck doors, and a policy of non-cooperation with hijackers), and replaced with private security, it would be a net gain for freedom in the USA.

    As it is, the TSA was mostly created as corporate welfare for airlines. It took security out of their hands, thus washed their hands of liability. Strict ID checks also make re-sale of tickets more difficult, thus protect airlines' revenue stream from change fees.

  • by bobstreo ( 1320787 ) on Monday January 21, 2019 @11:41AM (#57996200)

    generating a large list of people who should never be re-elected.

    Politics in the US should be about what is best for the country, not some personal/political grudges or egregious self interest/self promotion.

    If political parties have lost sight of that, voters should make their voices heard (loudly) If voters can't be bothered to fix this mess, they deserve their representation.

    • Comment removed based on user account deletion
  • by PPH ( 736903 )

    Called in to work the current tax season. Without pay.

    If there's anyone who should be comfortable with working, opening their pay envelope and finding nothing, it's the IRS. Welcome to the club.

  • Sigh. (Score:5, Insightful)

    by ledow ( 319597 ) on Monday January 21, 2019 @11:58AM (#57996354) Homepage

    Meanwhile, in civilised countries, if a budget approval isn't given, the previous authorised budget is automatically continued until such time as a new budget is approved.

    Nobody goes unpaid.
    Government doesn't get shutdown.
    Nobody has to implement emergency measures.
    Everything carries on as it did before until someone can get changes approved and sign off on the new budget.
    At no point does anything go any more unfunded/underfunded than it already was before the new budget was proposed.

    It's almost like those other countries spotted what a stupid idea "shut down the government", including using it as blackmail, was many, many, many centuries ago and worked around it.

    • Yeah I'm thinking we need a law like this on the books, they didn't pass the stupid wall budget when the R's had the whole legislature, I don't see why they should hold things up for it now.
    • Re:Sigh. (Score:4, Insightful)

      by ClickOnThis ( 137803 ) on Monday January 21, 2019 @02:44PM (#57997670) Journal

      Meanwhile, in civilised countries, if a budget approval isn't given, the previous authorised budget is automatically continued until such time as a new budget is approved.

      In may countries (particularly those with parliaments) a failure to pass a budget is considered a vote of non-confidence, and it triggers an election. And yes, the government continues to operate with the old budget until a new one is passed, perhaps by a newly-elected government.

      And votes of non-confidence are not restricted to budgets. They can be about almost anything important (like Brexit -- see UK current events). In short, the government can fall at any time, and an election ensues.

      If only the USA worked like that.

      On account of being a democracy and run by the people, we are the only nation in the world that has to keep a government four years, no matter what it does. -- Will Rogers

  • by ripvlan ( 2609033 ) on Monday January 21, 2019 @12:59PM (#57996786)

    A local beer company says they may not be able to make "new" summer beers. The labels must be inspected and approved by the government (yes -- the labels, on the can). Their plan is to bring back last years summer beer because those labels are approved. There is a deadline for them to meet the summer demand - but with an expected backlog they still aren't sure they can make it.

    Imagine - government killing innovation.

    I hope they haven't started making that beer yet. It would be a money loser if it was already in the pipeline. sure they could come out with it later - but who wants to buy a Summer Ale during October Fest?

    The shutdown is having a wide impact across several industries.

  • by SkOink ( 212592 ) on Monday January 21, 2019 @01:21PM (#57996966) Homepage

    Congress can end this shutdown without the president's support or approval. They can pass a budget bill, and send it to the president. If he vetoes it, they can vote to override the veto.

    I don't understand why more people aren't holding Congress to task on this. They literally don't need the president's buy-in at all to get a budget passed.

    • by Dragonslicer ( 991472 ) on Monday January 21, 2019 @02:04PM (#57997338)
      The House of Representatives already passed a budget (which included something like $1.5 billion for border security) on their first day of the year. The Senate hasn't voted on it because Mitch McConnell, the Senate Majority Leader, has refused to call for a vote on any budget that would be vetoed.
      • It should be noted that the bill passed by the House in January passed the Senate 93-6 in December. Pelosi chose it because it passed the Senate by a massive majority already.

        (The bill passed the house in December, went to the Senate where it was amended and passed 93-6 and Trump said he'd sign it. It needed to go back to the House because of the amendments, but Trump "changed his mind" and Paul Ryan had one last "fuck you" to deliver to the country and did not bring it up for a vote. Since there is a ne

    • It is only a $5 billion pet project; hardly worth costing the country more than $5 billion in another manufactured crisis.

      Remember the last manufactured crisis to create a hostage situation? Literally kidnapping children and holding them hostage; so how anybody couldn't see that this completely predictable if they were paying attention to his threats to his own party over his wall a year ago-- who didn't give it to him either.

      The shutdown began before the Democrats got into office; he had a compromise he r

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