The Senate Passed $484 billion Bill

[The VOR]

This is great news!! So when the House Democrats pass the bill, can I finally get an abortion?

You are an abortion.

 

[OldLady]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

Not everyone works for a small business? the self-employed? Cut backs in staff when a place is still open? I think some of these folks got "laid off" by their employers before the PPP was established. They all plan to get called back to work as soon as their boss can reopen. There are a LOT of people working in this country.

Nope, sorry, but self employed and "gig workers" (Uber and Lyft), are eligible for this program as well.

Self-Employment, 1099s, and the Paycheck Protection Program | Bench Accounting

If you're self-employed, you're still eligible for the Paycheck Protection Program. Here's how it works.

bench.co

All small businesses qualify for the Payment Protection Program.


This includes:


Sole proprietors who report income and pay taxes on a Schedule C in your personal tax return.


Independent contractors who collect 1099-MISC forms.


Gig economy workers who take on-call jobs provided by companies such as Uber, Lyft, TaskRabbit, and Instacart.


The only stipulation is that your business was operational as of February 15, 2020. If you started your business after that date, you will not be eligible for this program.

Mnucin also said, and did Trump, all those who aren't supposed to receive PPP are going to give it back. No vetting? Give me a f'n break. I say they all got caught in this magnificent way to fleece the ever lasting **** out of the US taxpayer and citizens.

I have no idea what you're talking about.

Todays press conference is where I heard T & M talk. Your article was released around the same time. Maybe that is why.

I'm just glad there's finally an agreement. There are still a lot of fishermen around here waiting for round #2. A lot of trouble accessing the program to apply, they said. My boss got through and was approved just one day before they ran out of funds. Phew!

what is it like day by day there? the supply chain disruption has farmers (dairy and otherwise) dumping product because they can't get it to market.

but i would imagine people in that position are pretty hard hit but i'd like to understand more of the impact of this on them.

The Virus has shrunk the market dramatically. 80% of high end seafood is eaten in restaurants. And they sell a lot to Japan and China. Here's a good article from the Maine Lobstermen's Association. Go to "Effects of Covid 19"

COVID-19 Updates for the Lobster Industry - Maine Lobstermen's Association

Go to DMR Notices     Go to Effect on the Industry   Go to Resources and Notices for Direct-to-Consumer sales  Go to Small Business Information     Go to public letters in support of Maine’s Lobster Fishery For the most up-to-date news about Covid-19 in Maine: CLICK HERE DMR Notices See wet...

mainelobstermen.org

 

[Tijn Von Ingersleben]

Nope....Not a Socialist nation...NOPE!

 

[OldLady]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

Pelosi blocked this for weeks, and even now can’t be bothered to vote tomorrow on it.

Pelosi got what she wanted--more aid for hospitals and for testing. Republicans didn't want that, for some reason, but they settled.
Yeah, how horrible of her.

And the House is in recess and needs to return to D.C. for the vote. Give them a break.

 

[Admiral Rockwell Tory]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

I'm sure it's helping. Do you know how much money it would cost to keep all those people working?

he's got a beat up trump point. i don't think he gives a **** about the details or even being "correct" in why.

This program is for 500 employees or less. That means large companies have to figure out a way to survive. So of course they had to layoff employees. No other choice really.

500 employees or less is what they said, but big companies have managed to figure out how to get some of the money. Ruth's Chris Steak House got a whole bunch of money, but in the public uproar, they decided to give the money back. Same with Snack Shack.

But, there are other large companies who are keeping the money, even though they aren't supposed to qualify.

Shake Shack Is Returning Its Federal Bailout Check. What About Other Restaurant Chains?

The Payroll Protection Program small-business loan program was open to any restaurant business that had no more than 500 workers per location. Some publicly traded restaurant companies tapped the money.

www.barrons.com

As part of the Cares Act, the government’s Covid-19 rescue package, Congress provided $349 billion to help small businesses keep paying their employees. The Paycheck Protection Program, or PPP, is overseen by the Small Business Administration. Commercial banks give out the money as loans that will be forgiven if the small businesses hire back their workers by June. Although the program was meant to help businesses with 500 or fewer employees, big hotel and restaurant chains successfully lobbied to be included.

“The PPP came with no user manual and it was extremely confusing,” said an open letter from Shake Shack’s chief executive Randy Garutti and its founder and chairman Danny Meyer. The program was open to any restaurant business that had no more than 500 workers per location. Since each Shake Shack has about 45 employees, they wrote, the chain applied, and got $10 million last week through its regular lender JPMorgan Chase (JPM).

There are 189 Shake Shacks with nearly 8,000 workers, said the executives.

“[W]hen it was announced that funding for the PPP had been exhausted, businesses across the country were understandably up in arms,” they continued. “We now know that the first phase of the PPP was underfunded, and many who need it most, haven’t gotten any assistance.“

Trump and Mnucin also said that Harvard is giving back what they got as their endowments are huge.

If this is such a good program, and only for small businesses, then how in the hell did major chains get the money? Oh wait..............instead of counting all their locations and employees, they considered one location to be one business, even if it is part of a chain. That is the loophole they used because it is so poorly written.

Who wrote it? Democrats!

 

[Admiral Rockwell Tory]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

Not everyone works for a small business? the self-employed? Cut backs in staff when a place is still open? I think some of these folks got "laid off" by their employers before the PPP was established. They all plan to get called back to work as soon as their boss can reopen. There are a LOT of people working in this country.

Nope, sorry, but self employed and "gig workers" (Uber and Lyft), are eligible for this program as well.

Self-Employment, 1099s, and the Paycheck Protection Program | Bench Accounting

If you're self-employed, you're still eligible for the Paycheck Protection Program. Here's how it works.

bench.co

All small businesses qualify for the Payment Protection Program.


This includes:


Sole proprietors who report income and pay taxes on a Schedule C in your personal tax return.


Independent contractors who collect 1099-MISC forms.


Gig economy workers who take on-call jobs provided by companies such as Uber, Lyft, TaskRabbit, and Instacart.


The only stipulation is that your business was operational as of February 15, 2020. If you started your business after that date, you will not be eligible for this program.

Mnucin also said, and did Trump, all those who aren't supposed to receive PPP are going to give it back. No vetting? Give me a f'n break. I say they all got caught in this magnificent way to fleece the ever lasting **** out of the US taxpayer and citizens.

I have no idea what you're talking about.

Todays press conference is where I heard T & M talk. Your article was released around the same time. Maybe that is why.

I'm just glad there's finally an agreement. There are still a lot of fishermen around here waiting for round #2. A lot of trouble accessing the program to apply, they said. My boss got through and was approved just one day before they ran out of funds. Phew!

Your pimp qualifies as a small business?

 

[Weatherman2020]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

Pelosi blocked this for weeks, and even now can’t be bothered to vote tomorrow on it.

Pelosi got what she wanted--more aid for hospitals and for testing. Republicans didn't want that, for some reason, but they settled.
Yeah, how horrible of her.

And the House is in recess and needs to return to D.C. for the vote. Give them a break.

And you know this how?
Nice to be on paid vacation during a national crisis.

 

[Dragonlady]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

The loan is foregiveable, but what happens if the business goes bankrupt between now and the time they can effectively re-open? What guarantees are there that the workers will be paid? Giving money to corporations never works out well for their workers.

Look at how the franchise companies made sure that their corporate coffers got a big cut of the "small business loans". Franchise fees are just part of the franchise owners expenses which these large corporations will continue to receive, as they eat up tens of millions of dollars of "small business" loans, leaving family run operations, the real small businesses, out in the cold.

 

[Weatherman2020]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

The loan is foregiveable, but what happens if the business goes bankrupt between now and the time they can effectively re-open? What guarantees are there that the workers will be paid? Giving money to corporations never works out well for their workers.

Look at how the franchise companies made sure that their corporate coffers got a big cut of the "small business loans". Franchise fees are just part of the franchise owners expenses which these large corporations will continue to receive, as they eat up tens of millions of dollars of "small business" loans, leaving family run operations, the real small businesses, out in the cold.

Pelosi cares.

 

[OldLady]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

Pelosi blocked this for weeks, and even now can’t be bothered to vote tomorrow on it.

Pelosi got what she wanted--more aid for hospitals and for testing. Republicans didn't want that, for some reason, but they settled.
Yeah, how horrible of her.

And the House is in recess and needs to return to D.C. for the vote. Give them a break.

And you know this how?
Nice to be on paid vacation during a national crisis.

They've been in recess for weeks; extended their break due to the outbreak.

 

[okfine]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

The loan is foregiveable, but what happens if the business goes bankrupt between now and the time they can effectively re-open? What guarantees are there that the workers will be paid? Giving money to corporations never works out well for their workers.

Look at how the franchise companies made sure that their corporate coffers got a big cut of the "small business loans". Franchise fees are just part of the franchise owners expenses which these large corporations will continue to receive, as they eat up tens of millions of dollars of "small business" loans, leaving family run operations, the real small businesses, out in the cold.

To get PPP you have to show your business records like P&L, etc. and have a good relationship with a bank cause that's who sponsors the SBA loan. If you look bad on paper... SOL

 

[Ray From Cleveland]

What about the democrat majority in the House? The last we heard from Pelosi was a puff piece about her chocolate addiction while she relaxes at home.

Maybe chocolate makes her horny? LOL

Hey! Give us some warning next time you make a comment like that. Some of us are eating you know.

 

[Ray From Cleveland]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

I'm sure it's helping. Do you know how much money it would cost to keep all those people working?

he's got a beat up trump point. i don't think he gives a **** about the details or even being "correct" in why.

This program is for 500 employees or less. That means large companies have to figure out a way to survive. So of course they had to layoff employees. No other choice really.

500 employees or less is what they said, but big companies have managed to figure out how to get some of the money. Ruth's Chris Steak House got a whole bunch of money, but in the public uproar, they decided to give the money back. Same with Snack Shack.

But, there are other large companies who are keeping the money, even though they aren't supposed to qualify.

Shake Shack Is Returning Its Federal Bailout Check. What About Other Restaurant Chains?

The Payroll Protection Program small-business loan program was open to any restaurant business that had no more than 500 workers per location. Some publicly traded restaurant companies tapped the money.

www.barrons.com

As part of the Cares Act, the government’s Covid-19 rescue package, Congress provided $349 billion to help small businesses keep paying their employees. The Paycheck Protection Program, or PPP, is overseen by the Small Business Administration. Commercial banks give out the money as loans that will be forgiven if the small businesses hire back their workers by June. Although the program was meant to help businesses with 500 or fewer employees, big hotel and restaurant chains successfully lobbied to be included.

“The PPP came with no user manual and it was extremely confusing,” said an open letter from Shake Shack’s chief executive Randy Garutti and its founder and chairman Danny Meyer. The program was open to any restaurant business that had no more than 500 workers per location. Since each Shake Shack has about 45 employees, they wrote, the chain applied, and got $10 million last week through its regular lender JPMorgan Chase (JPM).

There are 189 Shake Shacks with nearly 8,000 workers, said the executives.

“[W]hen it was announced that funding for the PPP had been exhausted, businesses across the country were understandably up in arms,” they continued. “We now know that the first phase of the PPP was underfunded, and many who need it most, haven’t gotten any assistance.“

Trump and Mnucin also said that Harvard is giving back what they got as their endowments are huge and NEVER should have got any as of that statement.

Trump is going to ASK, REQUEST it. We'll see if any of them, including Harvard, give it back. Askin' ain't gettin'.
President Trump said Tuesday that he is going to ask large businesses and institutions such as Harvard University to return money that they received as part of a coronavirus relief package.
“I’m going to request it,” Trump told reporters at the White House, singling out the Ivy League school. “Harvard is going to pay back the money. They shouldn’t be taking it.”

i blame our collective government for not being able to work together so this doesn't happen. don't really care whether they like each other or not anymore.

but this is what happens when we move quick and not together. we're all to blame really.

The way I look at it, we're going to pay for it one way or the other: either through PPP or through unemployment. Yes, it's a shame a lot of ACTUALLY SMALL businesses (around here 500 employees would be a giant business) got pushed aside. But we're going to pay one way or the other, so it's not making my blood pressure go up much.

And who knew Harvard was a small business? lol

Between business and government when it comes to handling money, I'll choose business every time.

 

[iceberg]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

Not everyone works for a small business? the self-employed? Cut backs in staff when a place is still open? I think some of these folks got "laid off" by their employers before the PPP was established. They all plan to get called back to work as soon as their boss can reopen. There are a LOT of people working in this country.

Nope, sorry, but self employed and "gig workers" (Uber and Lyft), are eligible for this program as well.

Self-Employment, 1099s, and the Paycheck Protection Program | Bench Accounting

If you're self-employed, you're still eligible for the Paycheck Protection Program. Here's how it works.

bench.co

All small businesses qualify for the Payment Protection Program.


This includes:


Sole proprietors who report income and pay taxes on a Schedule C in your personal tax return.


Independent contractors who collect 1099-MISC forms.


Gig economy workers who take on-call jobs provided by companies such as Uber, Lyft, TaskRabbit, and Instacart.


The only stipulation is that your business was operational as of February 15, 2020. If you started your business after that date, you will not be eligible for this program.

Mnucin also said, and did Trump, all those who aren't supposed to receive PPP are going to give it back. No vetting? Give me a f'n break. I say they all got caught in this magnificent way to fleece the ever lasting **** out of the US taxpayer and citizens.

I have no idea what you're talking about.

Todays press conference is where I heard T & M talk. Your article was released around the same time. Maybe that is why.

I'm just glad there's finally an agreement. There are still a lot of fishermen around here waiting for round #2. A lot of trouble accessing the program to apply, they said. My boss got through and was approved just one day before they ran out of funds. Phew!

what is it like day by day there? the supply chain disruption has farmers (dairy and otherwise) dumping product because they can't get it to market.

but i would imagine people in that position are pretty hard hit but i'd like to understand more of the impact of this on them.

The Virus has shrunk the market dramatically. 80% of high end seafood is eaten in restaurants. And they sell a lot to Japan and China. Here's a good article from the Maine Lobstermen's Association. Go to "Effects of Covid 19"

COVID-19 Updates for the Lobster Industry - Maine Lobstermen's Association

Go to DMR Notices     Go to Effect on the Industry   Go to Resources and Notices for Direct-to-Consumer sales  Go to Small Business Information     Go to public letters in support of Maine’s Lobster Fishery For the most up-to-date news about Covid-19 in Maine: CLICK HERE DMR Notices See wet...

mainelobstermen.org

Thank you

 

[Ray From Cleveland]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

I'm sure it's helping. Do you know how much money it would cost to keep all those people working?

he's got a beat up trump point. i don't think he gives a **** about the details or even being "correct" in why.

This program is for 500 employees or less. That means large companies have to figure out a way to survive. So of course they had to layoff employees. No other choice really.

500 employees or less is what they said, but big companies have managed to figure out how to get some of the money. Ruth's Chris Steak House got a whole bunch of money, but in the public uproar, they decided to give the money back. Same with Snack Shack.

But, there are other large companies who are keeping the money, even though they aren't supposed to qualify.

Shake Shack Is Returning Its Federal Bailout Check. What About Other Restaurant Chains?

The Payroll Protection Program small-business loan program was open to any restaurant business that had no more than 500 workers per location. Some publicly traded restaurant companies tapped the money.

www.barrons.com

As part of the Cares Act, the government’s Covid-19 rescue package, Congress provided $349 billion to help small businesses keep paying their employees. The Paycheck Protection Program, or PPP, is overseen by the Small Business Administration. Commercial banks give out the money as loans that will be forgiven if the small businesses hire back their workers by June. Although the program was meant to help businesses with 500 or fewer employees, big hotel and restaurant chains successfully lobbied to be included.

“The PPP came with no user manual and it was extremely confusing,” said an open letter from Shake Shack’s chief executive Randy Garutti and its founder and chairman Danny Meyer. The program was open to any restaurant business that had no more than 500 workers per location. Since each Shake Shack has about 45 employees, they wrote, the chain applied, and got $10 million last week through its regular lender JPMorgan Chase (JPM).

There are 189 Shake Shacks with nearly 8,000 workers, said the executives.

“[W]hen it was announced that funding for the PPP had been exhausted, businesses across the country were understandably up in arms,” they continued. “We now know that the first phase of the PPP was underfunded, and many who need it most, haven’t gotten any assistance.“

I believe when it comes to franchises, it gets more complicated than that. A franchise is owned by an individual or perhaps a small company. If you are a franchise owner of that outlet, and you are losing thousands every day, and you can't get money from the company since they really never directly paid you anyway. Your only choice is to lay a lot of people off, or close down completely.

 

[iceberg]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

I'm sure it's helping. Do you know how much money it would cost to keep all those people working?

he's got a beat up trump point. i don't think he gives a **** about the details or even being "correct" in why.

This program is for 500 employees or less. That means large companies have to figure out a way to survive. So of course they had to layoff employees. No other choice really.

500 employees or less is what they said, but big companies have managed to figure out how to get some of the money. Ruth's Chris Steak House got a whole bunch of money, but in the public uproar, they decided to give the money back. Same with Snack Shack.

But, there are other large companies who are keeping the money, even though they aren't supposed to qualify.

Shake Shack Is Returning Its Federal Bailout Check. What About Other Restaurant Chains?

The Payroll Protection Program small-business loan program was open to any restaurant business that had no more than 500 workers per location. Some publicly traded restaurant companies tapped the money.

www.barrons.com

As part of the Cares Act, the government’s Covid-19 rescue package, Congress provided $349 billion to help small businesses keep paying their employees. The Paycheck Protection Program, or PPP, is overseen by the Small Business Administration. Commercial banks give out the money as loans that will be forgiven if the small businesses hire back their workers by June. Although the program was meant to help businesses with 500 or fewer employees, big hotel and restaurant chains successfully lobbied to be included.

“The PPP came with no user manual and it was extremely confusing,” said an open letter from Shake Shack’s chief executive Randy Garutti and its founder and chairman Danny Meyer. The program was open to any restaurant business that had no more than 500 workers per location. Since each Shake Shack has about 45 employees, they wrote, the chain applied, and got $10 million last week through its regular lender JPMorgan Chase (JPM).

There are 189 Shake Shacks with nearly 8,000 workers, said the executives.

“[W]hen it was announced that funding for the PPP had been exhausted, businesses across the country were understandably up in arms,” they continued. “We now know that the first phase of the PPP was underfunded, and many who need it most, haven’t gotten any assistance.“

I believe when it comes to franchises, it gets more complicated than that. A franchise is owned by an individual or perhaps a small company. If you are a franchise owner of that outlet, and you are losing thousands every day, and you can't get money from the company since they really never directly paid you anyway. Your only choice is to lay a lot of people off, or close down completely.

Very good points. A local McDonald's could be a small business of a local franchise.

 

[Ray From Cleveland]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

I'm sure it's helping. Do you know how much money it would cost to keep all those people working?

he's got a beat up trump point. i don't think he gives a **** about the details or even being "correct" in why.

This program is for 500 employees or less. That means large companies have to figure out a way to survive. So of course they had to layoff employees. No other choice really.

Are you talking Big Business who have shareholders, get huge bonuses and buybacks?

I'm just stating what the bill supposedly says. Do you really think big businesses will all survive something like this? Were you around during the housing crash???

 

[Ray From Cleveland]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

I'm sure it's helping. Do you know how much money it would cost to keep all those people working?

he's got a beat up trump point. i don't think he gives a **** about the details or even being "correct" in why.

This program is for 500 employees or less. That means large companies have to figure out a way to survive. So of course they had to layoff employees. No other choice really.

500 employees or less is what they said, but big companies have managed to figure out how to get some of the money. Ruth's Chris Steak House got a whole bunch of money, but in the public uproar, they decided to give the money back. Same with Snack Shack.

But, there are other large companies who are keeping the money, even though they aren't supposed to qualify.

Shake Shack Is Returning Its Federal Bailout Check. What About Other Restaurant Chains?

The Payroll Protection Program small-business loan program was open to any restaurant business that had no more than 500 workers per location. Some publicly traded restaurant companies tapped the money.

www.barrons.com

As part of the Cares Act, the government’s Covid-19 rescue package, Congress provided $349 billion to help small businesses keep paying their employees. The Paycheck Protection Program, or PPP, is overseen by the Small Business Administration. Commercial banks give out the money as loans that will be forgiven if the small businesses hire back their workers by June. Although the program was meant to help businesses with 500 or fewer employees, big hotel and restaurant chains successfully lobbied to be included.

“The PPP came with no user manual and it was extremely confusing,” said an open letter from Shake Shack’s chief executive Randy Garutti and its founder and chairman Danny Meyer. The program was open to any restaurant business that had no more than 500 workers per location. Since each Shake Shack has about 45 employees, they wrote, the chain applied, and got $10 million last week through its regular lender JPMorgan Chase (JPM).

There are 189 Shake Shacks with nearly 8,000 workers, said the executives.

“[W]hen it was announced that funding for the PPP had been exhausted, businesses across the country were understandably up in arms,” they continued. “We now know that the first phase of the PPP was underfunded, and many who need it most, haven’t gotten any assistance.“

I believe when it comes to franchises, it gets more complicated than that. A franchise is owned by an individual or perhaps a small company. If you are a franchise owner of that outlet, and you are losing thousands every day, and you can't get money from the company since they really never directly paid you anyway. Your only choice is to lay a lot of people off, or close down completely.

Very good points. A local McDonald's could be a small business of a local franchise.

I believe that's what they are. If anything, the franchise owner pays the company, not the other way around. Since the employee base is dependent on the franchise owner, he is in a way a small business.

 

[okfine]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

I'm sure it's helping. Do you know how much money it would cost to keep all those people working?

he's got a beat up trump point. i don't think he gives a **** about the details or even being "correct" in why.

This program is for 500 employees or less. That means large companies have to figure out a way to survive. So of course they had to layoff employees. No other choice really.

Are you talking Big Business who have shareholders, get huge bonuses and buybacks?

I'm just stating what the bill supposedly says. Do you really think big businesses will all survive something like this? Were you around during the housing crash???

If they don't, in with the new.

Sure was and so was Mnucin.

 

[iceberg]

You know, the Payroll Protection Program is a forgiveable loan to small business owners so they can keep people on the payroll and continue to pay them, even if furloughed, so that they can restart quicker when the pandemic is over.

If Trump has this great plan in place, why in the hell is unemployment spiking through the roof? Isn't the plan supposed to work in place of welfare?

Not everyone works for a small business? the self-employed? Cut backs in staff when a place is still open? I think some of these folks got "laid off" by their employers before the PPP was established. They all plan to get called back to work as soon as their boss can reopen. There are a LOT of people working in this country.

Nope, sorry, but self employed and "gig workers" (Uber and Lyft), are eligible for this program as well.

Self-Employment, 1099s, and the Paycheck Protection Program | Bench Accounting

If you're self-employed, you're still eligible for the Paycheck Protection Program. Here's how it works.

bench.co

All small businesses qualify for the Payment Protection Program.


This includes:


Sole proprietors who report income and pay taxes on a Schedule C in your personal tax return.


Independent contractors who collect 1099-MISC forms.


Gig economy workers who take on-call jobs provided by companies such as Uber, Lyft, TaskRabbit, and Instacart.


The only stipulation is that your business was operational as of February 15, 2020. If you started your business after that date, you will not be eligible for this program.

Mnucin also said, and did Trump, all those who aren't supposed to receive PPP are going to give it back. No vetting? Give me a f'n break. I say they all got caught in this magnificent way to fleece the ever lasting **** out of the US taxpayer and citizens.

I have no idea what you're talking about.

Todays press conference is where I heard T & M talk. Your article was released around the same time. Maybe that is why.

I'm just glad there's finally an agreement. There are still a lot of fishermen around here waiting for round #2. A lot of trouble accessing the program to apply, they said. My boss got through and was approved just one day before they ran out of funds. Phew!

what is it like day by day there? the supply chain disruption has farmers (dairy and otherwise) dumping product because they can't get it to market.

but i would imagine people in that position are pretty hard hit but i'd like to understand more of the impact of this on them.

The Virus has shrunk the market dramatically. 80% of high end seafood is eaten in restaurants. And they sell a lot to Japan and China. Here's a good article from the Maine Lobstermen's Association. Go to "Effects of Covid 19"

COVID-19 Updates for the Lobster Industry - Maine Lobstermen's Association

Go to DMR Notices     Go to Effect on the Industry   Go to Resources and Notices for Direct-to-Consumer sales  Go to Small Business Information     Go to public letters in support of Maine’s Lobster Fishery For the most up-to-date news about Covid-19 in Maine: CLICK HERE DMR Notices See wet...

mainelobstermen.org

Sounds like just using common sense and pleading for others to do the same. Hope people cooperate.