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 $340 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 the most funds at $20 million—by applying for the maximum amount through two subsidiaries. Eighteen of the 88 companies...
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This sux!
Unfettered capitalism combined with a corrupt administration = screw the little guys. Sadly, I am not surprised.
This is a transfer of wealth with the federal government and banks deciding who wins and who loses. Both Republican and Dem small business owners were passed up.
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Isn’t this an inherent problem? The least deserving companies will have the most resources to navigate the process to receive these funds
Those 26 companies with over $100M revenue a year definitely don't need the bailout realDonaldTrump
Food sucks
RuthsChris do the right thing and give it back!
Ruth Chris steakhouse chain is manifestly NOT a small business. For shame that they are siphoning up all the money from the little guys. This needs to be called out for what it is. Fraud.
WSJ - Please explain - I thought PPP was to preserve employee payrolls - right? or not. ? An employee is an important person, no matter who they work for, right? Please explain.
Didn’t it say SBA loans for business with 500 or less employees? How did those 18 companies make it through
boycottruthschris they are canceled along with shakeshack
this is bullshit. if you're making 100m, you dont need a bailout
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Some Not-So-Small Companies Are Getting Small-Business Loans Under PPPThe Paycheck Protection Program was meant for small businesses, but some big, publicly traded companies have cashed in too, including sandwich chain Potbelly, video storage company Quantum and coal producer Hallador Energy, each of which got $10 million. Greed!!! The program is just an extension of Trump's pay to play philosophy. He sees public office as a mechanism to transfer taxpayer assets to his private account. Graphic from OpenSecrets These are the places that have ripped off the small businessman! We need to not eat at RuthsChris & Potbelly & let them deal with the consequences!
Source: NPR - 🏆 96. / 63 Read more »
Trump says deal on small business package could come MondayTrump says negotiations are continuing and a deal on additional funding for small businesses could come Monday He says a lot of things... CNN joining the Trump bullshit session. Me changing the channel.
Source: cnnbrk - 🏆 393. / 55 Read more »
Top Democrats, Mnuchin say they're close to deal for small business loan program fundingTop Democrats and Treasury Sec. Mnuchin said on Sunday they were close to deal for additional funding of the small business loan program. Oh, it's the Demorats that get the credit? 🙄🙄🙄🙄 Like how they gave millions to the Kennedy center?
Source: NBCNews - 🏆 10. / 86 Read more »
Why the scheme to help small business isn’t workingEven firms that were thriving before the pandemic may find it hard to service additional debt taken on through Britain's business interruption loans I've noticed some product in grocery stores are being marked down b/c it appears they are not selling. I was wondering how many products that will be true of as well as the availability of future of fresh fruits and vegetables in about one to 2 weeks time.
Source: TheEconomist - 🏆 6. / 92 Read more »
Small business deal nearsIt appears one of the dumbest thing this Congress and administration have done in the coronavirus response process is about to get undone, via a bipartisan deal to add funds to the paycheck protection program 'This is a tremendous opportunity to restructure things to our vision.' -James Clyburn, Democrat. Democrats have stalled this for partisan reasons to fund irrelevant nonsense. They were busy making sure banks and investors were paid first.
Source: politico - 🏆 381. / 59 Read more »
Mnuchin, Democrats Say They Are Close on Small-Business Funding AgreementThe Treasury secretary said a package could include funds for the Paycheck Protection Program, $75 billion for hospitals and $25 billion to expand national testing. How PrinceCharles predicted that We have very shot time' to save humanity before coronavirus enters...COVIDー19 ClimateChange History will look back at this dick face and know where we went wrong Hopefully they get the PaycheckProtectionProgram back funded because the small business owners need this to keep their employees on the payroll.
Source: WSJ - 🏆 98. / 63 Read more »