31–40 of 354 posts
You can get a $5-10 Million loan for 14 employees at a nail salon? https://pppreport.org/company/snappy+nails+s+p+a+9+inc Damn.
Worth noting that they will owe this back unless they can show it was used for payroll purposes. How they got that much money in the first place is a definite mystery though.
You can get a $5-10 Million loan for 14 employees at a nail salon? https://pppreport.org/company/snappy+nails+s+p+a+9+inc Damn.
Worth noting that they will owe this back unless they can show it was used for payroll purposes. How they got that much money in the first place is a definite mystery though.
You can get a $5-10 Million loan for 14 employees at a nail salon? https://pppreport.org/company/snappy+nails+s+p+a+9+inc Damn.
Worth noting that they will owe this back unless they can show it was used for payroll purposes. How they got that much money in the first place is a definite mystery though.
Of particular reference here - startups that laid off employees and /then/ applied for a PPP loan
https://layoffs.fyi/2020/07/06/these-startups-received-ppp-b...
I was surprised that O'Reilly had a loan for $5-$10 million. https://pppreport.org/company/o+reilly+media+inc They seem like a company where most people can work from home. EDIT: I totally forgot about their conference business. That makes more sense.
That's probably true, but the PPP loan covers economic impacts as a result of COVID-19, which can be things like "nobody wants to buy our books that are primarily sold as training materials." 340 people might include sales or actual book production, but it's hard to say without more transparency what the money actually went to/for.
You can get a $5-10 Million loan for 14 employees at a nail salon? https://pppreport.org/company/snappy+nails+s+p+a+9+inc Damn.
How about this chiropractor? https://pppreport.org/company/connelly+chiropractic+inc
There are several scenarios that frustrate me. Examples like law firms or physicians' offices. These are relatively small firms with very wealthy principals. They are asking for taxpayer money to maintain their wealthy lifestyles, so they don't have to sacrifice their Bentleys to pay staffers. Examples: Thomas J Henry in San Antonio. LLCs and franchisees that probably have millions of dollars in holdings and cash, bu…
To see how deep money and time-saving habits run, watch this documentary about Warren Buffet, where he goes to McDonald's and gets a cheap meal. https://www.youtube.com/watch?v=PB5krSvFAPY (3 minutes in)
Just looking through my home town for businesses I know about... A fair number of them I know carried on with business as usual and had no financial problems (one I used to work for). Seems wrong when there are lots of people in the same town lining up outside the unemployment office every day...
If you give people at the bottom a choice to not work, by giving them cash directly, then they would have better negotiating power versus employers.
The employers would then have to raise wages, and therefore prices. That means consumers who were proportionally consuming more than others have to consume less as more of the wealth goes towards paying higher wages. And we don’t want that as a society.
So we make the aid contingent upon an employer who might bless you with a furlough so you can collect the temporary generous unemployment, but also yank it away in case your menial work is necessary and they can go back to paying you near minimum living wages.
Earlier quoted context omitted.
Worth noting that they will owe this back unless they can show it was used for payroll purposes. How they got that much money in the first place is a definite mystery though.
How does this actually work? Is this effectively "Free Payroll" for a few months or is it more complicated than that?