What poorly run businesses are those? Have you seen those businesses' financial statements? Do you know anything about their management?Originally Posted by johnnylightnin
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What poorly run businesses are those? Have you seen those businesses' financial statements? Do you know anything about their management?
Airlines have been doing lots of buybacks to prop up their share prices. Capitalize the gains, but socialize the losses?
Which is your point? That we should bail out poorly run states and municipalities or that we should not be passing the payroll protection loans/grants?
There is a policy issue here besides "whatever Trump does will be wrong".
The PPP isn’t about bailing out business. It is about bailing out employees and those providing the real estate for the small business to operate.
In order for the loan to be forgiven, 75% had to be used for payroll. Rent and the portion of mortgage going to interest are also forgiven.
Which allows the business to stay in business.
But it wasn’t about the OWNER. That is the point. The owner doesn’t directly profit. He is just a conduit to paying the employees and landlord. That is how the PPP is designed. Airline bailouts do profit the shareholders.
BUT the owner stays in business because of it. And the owner would have had a full workforce if they hadn't done the idiot Schumer "unemployment on steroids" scheme.
The airlines, too, will stay in business because of the bailouts. Of course if the airlines failed (which they would), AOC would get her dream scenario where the green new deal would be implemented by default.
It was stupid to shut down the economy in the first place. I suspect lots of folks in third world countries will be starving soon because of it. It would have been dumber to have the federal government assume a lot of the powers given to the states, which you seem to be for (until you are against it when it puts Trump in a bad light). I was against Bush's bailout of the automobile industry, and for the most part I am against the bailout of the airlines as well (except it was the government that worked to destroy both of them).
Speaking of AOC....New York should be in great condition after refusing to shell out the 3 billion dollars to Amazon (AOC said it, not me). They can certainly use those funds to shore up any shortfall they may have as a result of this pandemic. Maybe they can actually buy the PPE and hospital equipment they should have had....but blamed the federal government for not giving it to them.
Are you for the feds bailing out the states and cities? If my money goes to bail out New York, I want some say in how New York is run. Taxation without representation was settled a long time ago.
The owner definately profits from this. At least in a lot of scenarios. The PPP has been poorly executed. You want to rag on Trump for that it's a valid criticism although there is plenty of blame to go around in washington.
My company (that I work for, I am not the owner) received a loan despite the fact that we have still been working. So basically everyone under the threshold will be free work for the company (also the rent will be paid). That is definitely going to help out the business and the owner. It will be a big help to the business so I'm not complaining, but it will definitely have a big affect on the bottom line for a bit.
My wife's company ( she is the owner) wasn't approved for a loan in the first round because of the way they incentivized the loans to the banks. We are hoping she gets approved this go round. She actually resumed operations today.
Small businesses could have laid off their workforce and sought forbearance on rent/mortgage. The PPP was meant to avoid the knock-on effects of small business collapse on the rest of the economy.
Letting the airlines collapse wouldn’t end air travel, but it would change ownership structure.
Is Louisiana going to need a bailout?
Sure, I was going to type in that qualifier. You have to state that your business is impacted by COVID, but you don’t have to actually shut down to qualify.
State and local governments should be fully covered for costs incurred directly because of the pandemic.
State and local governments shouldn't get a dime from outside those jurisdictions to cover pre-existing budget shortfalls due to bad decisions on government-sector pensions, benefits for illegals, excessive taxing policies that have eroded their own tax bases, etc.
yes, but that was true before COVID.
I'm ok with that.
I bet it’s way higher then that even. I’m betting 500,000 easily.
Published 2 hours ago
China could have 50 times more coronavirus cases than claimed, Trump administration official says
As the international community, including Chinese citizens, raises questions about the Chinese government's tally of coronavirus cases and the communist nation's mortality rate, new details are emerging about just how far off official government calculations have likely been, Fox News has learned.
Last week, the People's Republic of China increased their official count of fatalities inside Wuhan, the epicenter of the virus outbreak, by 50 percent in just one day, increasing the overall tally by 1,290 people.
US OFFICIALS CONFIRM FULL-SCALE INVESTIGATION OF WHETHER CORONAVIRUS ESCAPED FROM WUHAN LAB
Now, a Trump administration official tells Fox News they estimate the PRC has miscalculated and underreported the true tally nationwide by at least a factor of 50. “PRC numbers as reported today seem to be arithmetically impossible,” the official said.
“Again, we don’t know the real numbers today, but we do know the about 80,000 infections and 4,000 deaths as reported by the Chinese Communist Party propaganda are not even remotely close,” the person added.
Intelligence sources, asked about recent reports of funeral homes in Wuhan becoming overwhelmed by the volume of new corpses and plagued by a shortage of urns to hold virus victims' remains, declined to confirm the existence of classified satellite images. They did affirm, however, that the reporting is within the realm of possibility based on the evidentiary record.
COVID-19 vaccine: The ethical dilemma of 'human challenge trial'Video
In support of this claim, officials point to the existence of seven funeral homes inside Wuhan city with a total incineration capacity of about 2,000 corpses per day. They also flag recent reporting that incinerators have been in near-constant use for 24 hours per day over the past several weeks. They note that, at this rate, the city's incineration capacity nears 60,000 corpses per month.
More
https://www.foxnews.com/politics/chi...-official-says
Does that include loss of excise taxes Louisiana makes from oil and gas due to global demand destruction?
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