margarita25
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Florida will need it soon enough IMO.
I say park it the Gulf of Mexico.
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Florida will need it soon enough IMO.
I am not talking about CEOS and executives. I am talking about businesses that need to keep running. Businesses who employ workers.
There are many mom and pop shops that are getting loans now too. I know a few whose loans are pending.
I am not saying 'America is most importantly' CEOS and corporations. Those are your words.
I don't see any problem with any of this. They are loans after all.
interesting in my small sampling every single small business (by my definition less than 50 employees) did not get a dime, but those with over 200 did - go figure.
JMO
I'm not really sure what to make of Las Vegas' mayor, Carolyn Goodman's logic regarding opening up Las Vegas. She's basically on board for opening up all the casinos but doesn't seem to take any responsibility if the plan backfires. She was on CNN today, offering up all of Las Vegas' workers saying they'd all be fine with being the placebo group in an experiment to get them back to work. Yikes.
She's talking about how few cases they have because they have taken the proper measures. However, with 40 million visitors a year how can they gamble with their citizen's lives?
I'm sorry, but this is impossible. As I've mentioned before, the first group of humans is usually the lab workers and scientists themselves. Are they representative of All Humans? No. Not at all. None of them are toddlers. None of them are very elderly. None of them are cancer patients. None of them are taking immune suppressants (you can't work in a viral lab if you have those issues - or if you have lupus or if you have RA). They are disproportionately male (if not all male - in many cases, first run of viral testing is in men).
Further, how long has it been? Did they then go expose themselves to several variants of COVid? No, they did not. They can't, because they have only limited strains in Britain. Being an island, that's always the case. They need to test it in New York.
No one should be injected with a vaccine that has that kind of testing. The next rounds of testing should involve the entire British military. Then it's a waiting game. We know that military members have been exposed but they would need to completely drop social distancing and see if the vaccine works. Has Britain done this? No. It's two weeks between exposure and symptoms. They need to vaccinate the entire military (and they do not have the manufacturing capacity to do this yet), and then wait a month. Deliberately allow CV+ people to remain untreated and within the population.
At that point, we still won't know how the elderly and the compromised will deal with it, but the results will be highly suggestive. Before the US will allow it, they'll give the vaccine to all military members first (for strategic as well as medical reasons) and deploy them as usual all over the world, and make no attempt to isolate them. Let them have shore leave. Let's hope that the vaccinated can't still be carriers, right? Do we know that right now? No, we do not.
I'd give that process 6 months. People who specialize in safe development of vaccines would be cringing (as they'd have done it differently) but the FDA and our government do allow for this kind of testing.
But no way would I want our entire military vaccinated until UK does theirs first and we see results. I'd want a two month experiment in Britain. They're obviously going to start giving it to all comers unless some major change comes in their thinking. If, in two months, UK is down to virtually zero cases, then I think we should test in the US. Let them be the guinea pigs, as they seem intent on doing it.
I do wonder how many Brits will actually go for the vaccine under these circumstances. It will be a leap of faith with a dose of science.
I used to work in a building that was built in the 1950s before most commercial buildings had air conditioning. It had horizontal windows, very much like my high school, where the bottom window opening outward like a awning window. In the 70s they decided to install central air. They sealed all the windows and lowered the ceiling to hide the pipes and venting.And this is the thing my mom misses the most - lunch in tiny cafes here distancing is impossible.
Saw the mayor interview. Sounds like she doesn't see coronavirus as a problem. IMO she will - soon.you would have to have a death wish to go to Vegas
Not a smart bet!
Shake Shack will return it's $10Mil Loan^^sbm
Big businesses were able to snap up the PPP dollars designated for small businesses because the program was touted as "first come first serve" which provided the perfect window for the ugly 100+ Public Companies to cut in line days before the program gained congressional approval. The small businesses in need were scrambling to comply with the SBA loan application checklist and trying to get through the 800 number when the big boys were already on direct dial -- if not called by their bankers first! Let me be clear, they were not looking for the forgivable loans but very cheap dollars.
The reality is that all these large firms were fed the details by the Washington insiders and lobbyists before the bill was signed. And I promise the same thing is going on right now while politicians have been horse-trading behind closed doors for days as part of the art to refill the program dollars.
Is it any wonder that having been caught, they're all pledging to give back the money?
ETA: add link
Ruth's Chris and other chain restaurants got big PPP loans when small business' couldn't - CNN
As a result of a heavily lobbied exemption, larger food-service operations landed $10 million loans from the PPP. These include Potbelly (PBPB) Sandwich Shop and Shake Shack (SHAK), which has upward of $100 million in cash on hand, as well as Fiesta Restaurant Group Inc (FRGI)., the owner of Taco
Cabana.
In my backyard??I say park it the Gulf of Mexico.
How did they take the news?
I have the same people year after year.....no contract ....no deposit. I have only received one payment but have left the check untouched.
More info about the PPP program from the U.S. Small Business Administration is at Paycheck Protection Program. Excerpts below:
"Notice: Lapse in Appropriations
The SBA is currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding.
Other Assistance
Enhanced Debt Relief is also available in SBA’s other business loan programs to help small businesses overcome the challenges created by this health crisis.
For information on traditional SBA lending options, please click here.
SBA provides local assistance via 68 district offices and a nationwide network of resource partners. To find resources near you, please click here. "
Paycheck Protection Program Loan Information
"The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program."
... "Who Can Apply The following entities affected by Coronavirus (COVID-19) may be eligible:
... "Through April 16, 2020, the SBA has guaranteed 1,661,367 loans under the Paycheck Protection Program. For more information on loan activity, click here."
- Any small business concern that meets SBA’s size standards (either the industry based sized standard or the alternative size standard)
- Any business, 501(c)(3) non-profit organization, 501(c)(19) veterans organization, or Tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of:
- 500 employees, or
- That meets the SBA industry size standard if more than 500
- Any business with a NAICS Code that begins with 72 (Accommodations and Food Services) that has more than one physical location and employs less than 500 per location
- Sole proprietors, independent contractors, and self-employed persons"
Hope this is useful. [Note: I have no personal experience with small businesses or these programs.]
I'm not really sure what to make of Las Vegas' mayor, Carolyn Goodman's logic regarding opening up Las Vegas. She's basically on board for opening up all the casinos but doesn't seem to take any responsibility if the plan backfires. She was on CNN today, offering up all of Las Vegas' workers saying they'd all be fine with being the placebo group in an experiment to get them back to work. Yikes.
She's talking about how few cases they have because they have taken the proper measures. However, with 40 million visitors a year how can they gamble with their citizen's lives?
you would have to have a death wish to go to Vegas
Not a smart bet!
That's why we have several programs. We have the cash payouts that go to individuals. And we have the low interest business loans.
I would like to see more of the small businesses getting the loans. But when looking at the big picture, we as a nation, need to find the most effective way to rebuild our economy and keep it from collapsing. So these mid size, successful, profitable companies need to be kept afloat to accomplish that quicker.
The smaller businesses with 5 to 10 people---they will not have the same impact on our economy, positive or negative. And if they fail, it will be much easier for a small business to reorganise and come back, then a very large company. JMO
RBM:Thing is: with the flu there are various strains- when they make the vaccine every year they try to guess (for lack of a better word) what strains will be present. Sometimes they are wrong, and when they are the vaccine doesn't work, although they say one should still get the vaccine ( I never have): However, with the coronavirus, i don't think there is the same concern (different strains- though there could be i guess). so this seems to be horse of a different color.