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Started By
Message
2
Posted on 4/16/20 at 12:57 pm to Revelator
quote:
Can monies from another program be diverted to the PPP?
No.
But can he call it defense funding and spend DoD funds. Maybe. But that’s a tough sell and the DoD doesn’t have an extra $250 billion lying around when their budget is $715 billion a year. Trump did get wall funding from them though but that was only a billion or two.
Posted on 4/16/20 at 1:04 pm to trinidadtiger
quote:
This is nonsense. Tell her to pass it, no negotiation
Please let them do this, should have stood firm last time, dealing with a fricking spoiled 5 year old
Posted on 4/16/20 at 1:06 pm to TerryDawg03
quote:
Which ones? Please elaborate.
I'm not the dolt that started this part of the thread, but I do have an opinion or two. And I'm not being critical of Trump, Mnuchin, etc... I think they're in an impossible situation, which is exactly why we need to open everything up in a matter of days.
Elaborating - I'll cut to the chase like this. I have a friend whose family owns a fairly large dealership (Phoenix). They employ about 300 people. The business generates $5-8 million profit annually. They have credit set up with several banks ... deep lines of credit available to them. They have not been forced to shut the business down, and are seeing about a 20% reduction in revenue (is all).
They applied and received a more than $3.5 million PPP. Most of this will be converted to a grant, and then will in large part drop to the bottom line.
Compare this to a small retailer that has been forced to close, has received a PPP of $75,000, and will turn that around to pay employees who aren't actually working. This small business owner, if he/she survives, will certainly burn through things like savings, equity in property, etc.
The "guidelines" created this dichotomy of outcomes, and what's even more ridiculous is tens of thousands of ma/pa will not even get PPP, but I guarantee you every dealership, or other businesses with say 250+ employees were first in line at the trough.
Posted on 4/16/20 at 1:10 pm to JuiceTerry
quote:
Are we really gonna act
Nope, seems you are the only one acting. Acting like you know something that you don't.
Enough with the faux "gotcha" attempts
Posted on 4/16/20 at 1:14 pm to SSpaniel
quote:
Which guidelines are those?
Jesus Avoid social gatherings in groups of more than 10 people
Avoid eating or drinking in bars, restaurants or food courts
Avoid discretionary travel and shopping trips and social visits
Bars, restaurants, food courts, gymns and all other indoor and outdoor venues where people in large groups congregate should be closed
It's rich that you believe these had zero effect on small business.. Bizarre, really
Posted on 4/16/20 at 1:16 pm to JuiceTerry
quote:
Avoid social gatherings in groups of more than 10 people Avoid eating or drinking in bars, restaurants or food courts Avoid discretionary travel and shopping trips and social visits Bars, restaurants, food courts, gymns and all other indoor and outdoor venues where people in large groups congregate should be closed It's rich that you believe these had zero effect on small business.. Bizarre, really
I'll take deflection for $2000, Alex.
Okay, Juicy Fruit, please enlighten us on how this whole situation should have been handled. Don't leave out any details or anything that can be open for interpretation.
This post was edited on 4/16/20 at 1:19 pm
Posted on 4/16/20 at 1:19 pm to JuiceTerry
quote:
Avoid social gatherings in groups of more than 10 people
Avoid eating or drinking in bars, restaurants or food courts
Avoid discretionary travel and shopping trips and social visits
Bars, restaurants, food courts, gymns and all other indoor and outdoor venues where people in large groups congregate should be closed
It's rich that you believe these had zero effect on small business.. Bizarre, really
Are you of the opinion that Trump wants these in place and is not in favor of opening the economy back up? Sweet Jesus you're dense.
Posted on 4/16/20 at 1:20 pm to Day Man
quote:
Sweet Jesus you're dense.
Unfortunately, that is very true.
Posted on 4/16/20 at 1:24 pm to idlewatcher
quote:
I'm amazed that 1.6M small businesses somehow netted $369B bucks to essentially wipe out the PPP
I'm not. My small business of 8 employees ate up 125k. Another client with 347 employees ate up 3.2 mil.
Posted on 4/16/20 at 1:24 pm to David_DJS
quote:
but I guarantee you every dealership, or other businesses with say 250+ employees were first in line at the trough.
This has nothing to do with government though. We got ours because we were out ahead of it. A lot of businesses haven't even begun the process. That's on them.
That's like you bitching the grocery store ran out of TP because you didn't wake up earlier than the people in line in front of you.
This post was edited on 4/16/20 at 1:25 pm
Posted on 4/16/20 at 1:25 pm to JuiceTerry
quote:
It's rich that you believe these had zero effect on small business.. Bizarre, really
Actually, what's bizarre is that you think that you a) have a point and b) that the two situations are even remotely the same. That's what's bizarre.
Posted on 4/16/20 at 1:26 pm to SSpaniel
quote:
Actually, what's bizarre is that you think that you a) have a point and b) that the two situations are even remotely the same. That's what's bizarre.
Posted on 4/16/20 at 1:27 pm to JuiceTerry
quote:
Are we really gonna act like the white house guidelines had nothing to do with the current situation for small business?
Obvious troll is obvious.
Posted on 4/16/20 at 1:28 pm to dgnx6
quote:
This has nothing to do with government though. We got ours because we were out ahead of it. A lot of businesses haven't even begun the process. That's on them.
You need to do some reading. You're wrong about this.
Moreover, you missed my point entirely. And it has everything to do with how the program was administered (the guidelines).
And don't forget what I posted - I don't blame Trump or Mnuchin, etc. I think the situation is impossible. But the question asked was - what about the program (guidelines) left tens of thousands of small businesses out in the cold?
Posted on 4/16/20 at 1:30 pm to Day Man
quote:
Are you of the opinion that Trump wants these in place and is not in favor of opening the economy back up?
That's not even a decent non sequitur He put them in place, they affected small business
Full stop
It's weird that facts bother people
Posted on 4/16/20 at 1:32 pm to JuiceTerry
quote:HalfWhit is that you?
He put them in place, they affected small business
Full stop
Posted on 4/16/20 at 1:33 pm to JuiceTerry
quote:
Full stop
Oh shite, he said "full stop". Gotta acquiesce to the juicy one now.
Posted on 4/16/20 at 1:37 pm to JuiceTerry
quote:
It's weird that facts bother people
Even weirder when one doesn't present facts but here we are.
Posted on 4/16/20 at 1:48 pm to David_DJS
quote:
They applied and received a more than $3.5 million PPP. Most of this will be converted to a grant, and then will in large part drop to the bottom line.
That $3.5MM should be covering payroll, benefits and retirement, with up to 25% to rent and other particular overhead items. This required documentation and a statement that their business was impacted adversely by COVID-19.
There will be reviews when the loan forgiveness stage comes around. If they don’t show all of that going to cover the approved expenses, they may be looking at repayment rather than it dropping to the bottom line. If it does, something smells fishy.
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