Now that the $2 trillion coronavirus relief package has passed 96-0 in the United States Senate I am confident it will soon get through the House. The proposal includes $500 billion in loans for larger industries. I did read somewhere that one out of every five companies now is a zombie company – the walking dead, that earns just enough money to continue operating and service debt, but is unable to pay off their debt. The planned $500 billion Treasury Department fund would be subject to scrutiny via public reporting of transactions, as well as a new dedicated watchdog and accountability committee. The package won’t likely help them and I expect a rise in bankruptcies.
Here are Ten Commandments that responsible CEO/ CFOs and corporate boards may benefit from.