Shake Shack and other big publicly traded firms got funds before the Paycheck Protection Program — aimed at rescuing small businesses — ran out of money.Five of the companies AP identified were previously under investigation by financial and other regulators, including firms that paid penalties to resolve allegations.
Without that loan, “we would most certainly be forced to reduce headcount. We owe it to our employees — who’ve stuck with us through a long and difficult turnaround — to do everything we can to save their jobs during this crisis,” company spokesman Bob Wientzen wrote in an email. Chief executive Ian Dickinson said his company wouldn’t have folded without the $1.9 million loan it received. But, he said, he welcomed the money and would’ve had to let go more employees than he already has without it.
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This underscores either Mnuchin's incompetence rolling out the plan or his corruption in planning the distribution of funds. A review of how many were Goldman Sachs clients should be in order. How could anyone approve the bulk of funds going to so few. Recoveries must be demanded
“If it’s called “looting” when poor people steal groceries during a disaster, what’s it called when the Senate tries to smash and grab billions for corporate executives during a pandemic” ~Erin Ryan morninggloria Answer: Mitching GOPCorruption
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Mnuchin, Pelosi say 'very close' to a deal on second round of small business loansThe $349 billion rescue loan program ran out of money on Thursday, just two weeks after it was launched to help small businesses struggling with the financial hit of the coronavirus pandemic. He need inflate market for You Friends , whonis your friend? Jo Morgan Let do this! Help!
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In Race for Small-Business Loans, Winning Hinged on Where Firms BankThe small businesses that received government aid weren’t always the ones with the greatest needs or the best chances to survive the pandemic. When it comes to corporates and businesses who are worth millions and billions of worth, these sick govt wouldn't even bat an eye to bail them out but when it comes to bailout the people, they'd required messy criteria to be eligible for it. Fuck the corporate govt. This wasn’t built into the PPP. You could have written this article before it went live This IS HORRIFYING TO THOSE IN THE MOST NEED.. HOW WILL WE EVER BE ABLE TO PULL THRU,W/OUT SERIOUS CONSIDERATIONS MADE. IN ADDITION TO THE CREDITORS ETC, SMALL BIZ OWNERS WILL Need TIME TO GET BUSINESS GENERATING CASH FLOW DOES NOT HAPPEN IMMEDIATELY.
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Source: USATODAY - 🏆 100. / 63 Read more »