It wasn’t just Ruth’s Chris or Shake Shack that got coronavirus aid from the U.S. government. Dozens of publicly traded companies received forgivable loans totaling more than $500 million from the Small Business Administration’s Paycheck Protection Program, according to a Wall Street Journal analysis.
Shake Shack Inc. was the biggest recipient by market capitalization, while Ruth’s Hospitality Group Inc. got $20 million—by applying for the maximum amount through two subsidiaries. Two dozen of the 124 companies employed more...
Boycotting !
Pure Tech Plumbing small but its mine ! Worked hard to get to the level I am at with no funding . All hard work and lots of sacrifice . Now I need cause of stop work order . Bow May re open construction but have no money to start up again . I am not even asking for free money !
Private citizens should forego purchasing goods/services from these companies in protest.
Intentional!
Good to know! I won't be returning to any of them.
Public companies...this is such BS. Capitalism is dead.
Yes but aren’t the loans forgiveable if they don’t let any employees go over a 90 day period? While I agree it should go to smaller business with less top line revenue, it may save tons of jobs for those that can’t afford to be out of work.
Where is the complete list to shame them to death for ruining regular small business and the economy... boicott them not the lockdowns
What about the ones that did not disclose a loan?
So basically, the companies with attorneys on the payroll.
This is crazy
SMALL Business
The program had a specific list of criteria. These companies met that criteria. Ease up the the spikes and pitchforks. They followed the rules.
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SBA warns big companies on seeking small business loans after backlashThe guidance doesn't change the formal rules of the program and wouldn't necessarily stop large companies from continuing to seek the aid. Shouldn't there be built-in protections for actual small businesses in the application process? After they already had their share of the huge stimulus scam phew...we need those coronavirus emails released ASAP . I don't like big companies applying for this also but it is not their fault. If you are too stupid to write legislation that goes to the people who need it you get what you deserve. To blame this is disingenuous to say the least but you are to blame not them.
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Publice companies got $550M of loans intended for 'small businesses' - Business InsiderAshford Hospitality Trust claimed the largest PPP loan — $30.1 million — followed by Meritage Hospitality Group, which claimed $29.1 million. Maybe the owners are Ugandans. 😂😂😂😂 The way Western media can brand us as professional corrupt people, now you know, universality 🐷🐷🐷🐷🐷 Scroll their names at bottom of tv screen 📺
Source: BusinessInsider - 🏆 729. / 51 Read more »
Some U.S. companies will keep small business loans, defying backlashSeveral publicly listed companies worth hundreds of millions of dollars said on Friday they had no plans to return funding they received under a U.S. government program providing emergency loans to small businesses, even though some of their peers have started to do so. Government fucks things up all the time, yet people out there wanting Government to run every aspect of our lives... GTFO! SHAME THEM SHAME ...MiMedx Group Inc (Digimarc Corp (DMRC.O), and ZAGG Inc (ZAGG.O).....shame !!!!!
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Face it, no one in Washington wants to fix the small business loan program - Business InsiderNo one in Washington will stop big corporations with plenty of access to cash from taking money meant for small businesses. They must not want to.
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How to fix the failed small business loan program - Business InsiderOpinion | Congress' small business loan program failed those who needed it most. Here's how to fix it. By lexir, Megan Niedermeyer, and Jeanette Quick of GustoHQ lexir GustoHQ It was designed to fail or in the alternative it was a scam
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Companies face harder time getting government-backed loans meant for small businesses hurt by coronavirusThousands of small businesses continue to be shut out of the Paycheck Protection Program as Fortune 500 companies secure millions in forgivable loans. The system is, and always has been, rigged. Covid has merely pulled the curtain back. This is criminal, plain and simple
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