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List of private companies that took PPP
Posted on 5/20/20 at 6:06 pm
Posted on 5/20/20 at 6:06 pm
Does such a list exist? If one wanted to know which private companies got PPP funds, is it possible to do?
3
Posted on 5/20/20 at 6:53 pm to MaxDraft
Highly doubt it. Why would private company records be available for the public?
Posted on 5/20/20 at 7:32 pm to MaxDraft
quote:
If one wanted to know which private companies got PPP funds,
what would one do with this information?
BTW, Grand Construction Company is a private company that took PPP funds. so there’s one for your list
Posted on 5/20/20 at 7:36 pm to HailToTheChiz
quote:
Why would private company records be available for the public?
Doesn't it involve taxpayer money? I see no reason for it to be classified information.
Posted on 5/20/20 at 8:27 pm to wheelr
I received PPP funds and agree it should be public info.
Posted on 5/20/20 at 8:28 pm to cgrand
quote:
what would one do with this information?
Well, to be candid it would be useful intel for companies in direct competition with each other. If one company had too many employees to qualify, but another company in the same industry was able to, they would have an advantage in weathering the storm and not having to lay people off. The larger company (even if only bigger by 20 employees) would have to dig into cash reserves to avoid a lay off while the smaller PPP funded company could use the Fed's money to stay afloat.
I don't fault the smaller company from taking the money...I would have done the same thing. But, it's just as important for the slightly larger ones to make it through this, too.
Posted on 5/21/20 at 1:15 am to MaxDraft
I doubt it, a few weeks ago when CNBC reported that the Lakers were returning PPP money.
CNBC stated that since the Lakers were a private entity, they only learned this because of their voluntary press release.
CNBC stated that since the Lakers were a private entity, they only learned this because of their voluntary press release.
Posted on 5/21/20 at 5:16 am to MaxDraft
Useful intel? The only way I could think it would be useful is if a company did receive it and decided to temporarily charge lower prices to give a death blow to the competition. This would cause future issues for that company though. Just seems shady.
If you are just trying to prove that there’s little difference between 499 and 501, you’re right. Bottomline is there had to be limits. It wasn’t “fair” for a lot of businesses. Also, if they had cash reserves it sounds like they in fact are making it through this.
If you are just trying to prove that there’s little difference between 499 and 501, you’re right. Bottomline is there had to be limits. It wasn’t “fair” for a lot of businesses. Also, if they had cash reserves it sounds like they in fact are making it through this.
Posted on 5/21/20 at 6:16 am to MaxDraft
quote:
Well, to be candid it would be useful intel for companies in direct competition with each other.
so what you really want to know is whether your slightly smaller competitors got a loan while yours didn’t? again, let’s say you had that list...what strategies would be useful to you as leverage?
Posted on 5/21/20 at 6:43 am to wheelr
quote:
Doesn't it involve taxpayer money?
Does it? I always operated on the fact this was fake money created by the government
Posted on 5/21/20 at 7:10 am to cgrand
quote:
what strategies would be useful to you as leverage?
Well, let's say one works in an industry that has on-call hourly employees who are also paid a "guarantee" for being available to work whenever needed. Let's say your company is the only one who has always paid this guarantee, even during non-COVID-19 situations. Now, a smaller competitor gets PPP and all of the sudden starts paying a guarantee too, and since PPP is free money let's say maybe their PPP-funded guarantee pays higher than the one your company has always paid.
That's useful intel to know if they've all of the sudden woke up to the fact paying a guarantee is good for your employees or are they now paying a guarantee because they got free money and they're using it to recruit against you. Knowing if they got PPP would help determine if them doing this was likely to be short term. As a larger company you could decide whether to ride it out or pull more out of your cash reserves to increase your guarantee. That's just one example.
Posted on 5/21/20 at 11:44 am to MaxDraft
Can you explain how it is useful? You plan to undercut pricing on a struggling competitor or something?
Seems more like you’ve got a nosey bone to pick.
Seems more like you’ve got a nosey bone to pick.
Posted on 5/21/20 at 12:55 pm to TigerDeBaiter
quote:
Can you explain how it is useful?
How do you not understand how it would be useful? It doesn't matter anyways. I'm close enough to my competition to just ask...they all took it. Now I know and it is already proving itself to be useful knowledge.
Posted on 5/21/20 at 2:36 pm to MaxDraft
quote:
How do you not understand how it would be useful? It doesn't matter anyways. I'm close enough to my competition to just ask...they all took it. Now I know and it is already proving itself to be useful knowledge.
Are you looking to get that list to call and pitch those companies on your "Expert Help" on getting their loan forgiven for just a percentage of the loan?
Posted on 5/21/20 at 3:15 pm to MaxDraft
quote:
Well, let's say one works in an industry that has on-call hourly employees who are also paid a "guarantee" for being available to work whenever needed. Let's say your company is the only one who has always paid this guarantee, even during non-COVID-19 situations. Now, a smaller competitor gets PPP and all of the sudden starts paying a guarantee too, and since PPP is free money let's say maybe their PPP-funded guarantee pays higher than the one your company has always paid.
That's useful intel to know if they've all of the sudden woke up to the fact paying a guarantee is good for your employees or are they now paying a guarantee because they got free money and they're using it to recruit against you. Knowing if they got PPP would help determine if them doing this was likely to be short term. As a larger company you could decide whether to ride it out or pull more out of your cash reserves to increase your guarantee. That's just one example.
If you were managing/incentivizing your employees properly, along with performing proper exit interviews - you'd have all this information without making baseless assumptions against your competitors that have potential legal ramifications.
This post was edited on 5/21/20 at 3:18 pm
Posted on 5/21/20 at 3:21 pm to MaxDraft
quote:Seems odd that you would need information about something as relatively minor as that to determine how to manage your company.
Well, let's say one works in an industry that has on-call hourly employees who are also paid a "guarantee" for being available to work whenever needed. Let's say your company is the only one who has always paid this guarantee, even during non-COVID-19 situations. Now, a smaller competitor gets PPP and all of the sudden starts paying a guarantee too, and since PPP is free money let's say maybe their PPP-funded guarantee pays higher than the one your company has always paid.
That's useful intel to know if they've all of the sudden woke up to the fact paying a guarantee is good for your employees or are they now paying a guarantee because they got free money and they're using it to recruit against you. Knowing if they got PPP would help determine if them doing this was likely to be short term. As a larger company you could decide whether to ride it out or pull more out of your cash reserves to increase your guarantee. That's just one example.
Posted on 5/21/20 at 5:02 pm to NOSHAU
Given that you have zero idea what industry I'm in and the dynamics at play, it seems odd that you would feel qualified to even respond.
My question was simply, "is there a list available?" Not, "how would you run my business?"
My question was simply, "is there a list available?" Not, "how would you run my business?"
Posted on 5/21/20 at 5:03 pm to Golfer
quote:
have potential legal ramifications.
What legal ramifications? There are none.
Posted on 5/21/20 at 6:20 pm to MaxDraft
quote:
How do you not understand how it would be useful? It doesn't matter anyways. I'm close enough to my competition to just ask...they all took it. Now I know and it is already proving itself to be useful knowledge.
I wanted to hear it from you.
At the end of the day good businesses are going to overcome challenges, and short sighted scumbags will always be chasing their tail.
Carry on.
Posted on 5/21/20 at 6:46 pm to TigerDeBaiter
quote:
At the end of the day good businesses are going to overcome challenges, and short sighted scumbags will always be chasing their tail.
Thank you, Jack Welch. I appreciate your glorious insight.
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