About 300 companies that received as much as half a billion dollars in pandemic-related government loans have filed for bankruptcy, according to a Wall Street Journal analysis of government data and court filings.
Many of the companies, which employ a total of about 23,400 workers, say the funds from the Paycheck Protection Program weren’t enough to keep them going as the coronavirus and lack of additional stimulus payments weighed on their businesses.
I get the feeling this was more about pumping money into the economy then anything else. Otherwise how could they turn a blind eye to rampant fraudulent use of these funds ?
Apologies for doing this here...I'm trying to cancel my subscription with you guys. I've had two very unpleasant phone calls and multiple attempts at trying to do it over email after rude conversations on phone. Would you please cancel it as a courtesy. Thank you
A two pronged approach was needed. Companies needed the monies to keep going but if nobody has income to patronize said companies, the monies only delay the inevitable. So stimulus for companies and citizens is what was needed.
With cases, hospitalisations and deaths at current rates causing more states to implement restrictions there will be more businesses casualties. The likely impact of the pandemic was shamelessly played down by many all the way through
Reminds me of the lefts Lord & Savior and the bs deal with Solyndra. If you guys had a journalist in the building maybe they could poke around and discover something newsworthy instead of regurgitating the lefts propaganda? journalismisdead longlivepropaganda !
So I stopped at the addiction store on the way home. They sell nicotine, caffeine, high sugar drinks and candy, highly refined carbs, alcohol and addictive 'energy' drinks. Some people call these convenience stores? Follow me for more insights.
That’s a pretty good percentage. Not even 1% of total PPP funds. Must have worked for most. Waiting for the article talking about the other 99.9% that stayed in business so far.
Minor error 🥴
The government isn't well known for growing wealth.
RealDonaldTrump cronies obviously didn't spend a whole lot to save ANYTHING. Bank accounts are larger......for a few.
guess who was in charge of distributing those funds
Turns out paying people not to work isn’t good policy.
Trump single handedly created the perception US voter fraud as a soft landing for his loss and sadly his gullable supported, the far right media & a scared GOP supported it! Other than there is no fraud issue. As trumps lawyers repeated losses prove, was is it now 30
Wasn’t supposed to last forever! Should have stopped liberal governors and mayors from running these businesses into the ground!
Greed kept all of the taxpayers $.
Trump's calling card.
The DOJ need to do and exhaustive investigation , Where is this stimulus money is ,and if this company’s really qualify for this help,,,
This is after Corporations got a 14% tax cut from 35% -21%. Did they re-invest in their companies? Did they share the wealth with their employers? Did they save for a rainy day short fall, IE COVID pandemic? Nope, knew will always be bailed out again.
Now do Wall Streets 2nd bailout in 12 years?
Which companies are these?
Follow the money!
When children hear the secret plans of adults, they often accidentally tell to the others（The video is the daughter of the mayor of New York）
How is that republican trickle down economics workin out?
And these same scam artist who accepted the money are looking for morons in congress to 'help' themselves with yet more bailout money. They don't call them spendthrifts in congress for nothing. Another round of corporate welfare?
Here’s a novel idea... maybe, just maybe give all that stimulus money to the citizens🇺🇸 Because here’s the thing, the tricky part... there was no plan behind the stimulus package. If there were, we would’ve seen Trump actively participate in the fight against Covid-19 MaskUp
No surprise here...there was little adherence to guidelines so economy suffered
roberttorres117 For 2 months, 6 months ago. We have just 19 employees. Our issue is we have employees out for quarantine or actual covid. We're getting close to not being able to get the work done. No money coming in also means no money going out.
And yet the small businesses you wouldn’t even look at that were in dire need of those funds...we’re still here. Fix MAINSTREET Lending program. AV Matters/corporate/live events industry/ all suffering because of your incompetence!marcorubio GovRonDeSantis realDonaldTrump
Thank you local government shutdowns
That was six months ago. The government has failed us.
I need someone to check my math. $500,000,000,000 went to 300 firms?
I hope Joe Biden is ready. He is about to be handed an economic disaster of an economy.
WE NEED TO WATER THE PLANTS almost once in 34 hours may be / SOME TREES IN THE FOREST depend upon RAIN / same is the COMPANIES ISSUES / be glad I AM ABLE TO TYPE HELWETT PACKARD / umm*** STOICK EXCHANGE *** the university Sydney ECONOMY ** AUSTRALIA / aud * bbc world *** CBI *$$$
Support the individuals the businesses can be rebuilt if the people are still there when this is over.
McConnell and gang were toooo busy taking a break and then pushing his sole mission in life padding the courts so that special interests could be well served. Heroes Act passed in the congress months ago. President was MIA as usual.
Gotta love that trickle down economics : (
Because the wealthy like always, just took the cash and ran
WE NEED TO WATER THE PLANTS almost once in 34 hours may be / SOME TREES IN THE FOREST depend upon RAIN / same is the COMPANIES ISSUES / be glad I AM ABLE TO TYPE HELWETT PACKARD / umm*** STOICK EXCHANGE *** the university Sydney ECONOMY ** AUSTRALIA / aud * bbc world *** CBI *$$$
!⃝ 𝗧𝗵𝗶𝘀 𝗰𝗹𝗮𝗶𝗺 𝗶𝘀 𝗱𝗶𝘀𝗽𝘂𝘁𝗲𝗱
how is that even possible? $500B and still go bust?
I guess you can only stay locked down for so long.
Because they pocketed the money
PPP...payroll protection program...saved jobs for 2 months and companies faced the same crappy outlook because our overseers felt it was more important to lock us down from a virus with a 99.5% survival rate...so there's that.