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Started By
Message
The Lakers got PPP Money
Posted on 4/27/20 at 11:02 am
Posted on 4/27/20 at 11:02 am
LINK
Side topic, is number of employees the best way to define a "small business"? 500 employees seems like a lot. Maybe something that comes out of this is a good, national definition for a small business.
quote:
The Los Angeles Lakers have returned approximately $4.6 million that they received from a federal government program intended to help small businesses weather the economic burden caused by the coronavirus pandemic, the team said in a statement to ESPN on Monday.
Side topic, is number of employees the best way to define a "small business"? 500 employees seems like a lot. Maybe something that comes out of this is a good, national definition for a small business.
4
Posted on 4/27/20 at 11:03 am to LSUFanHouston
Wow
Posted on 4/27/20 at 11:04 am to LSUFanHouston
So the Lakers have a monthly payroll of approximately $1.84MM. Impressive.
Posted on 4/27/20 at 11:06 am to salty1
quote:
So the Lakers have a monthly payroll of approximately $1.84MM. Impressive.
It'd be more than that...max PPP amount is $20,833 per employee.
Posted on 4/27/20 at 11:07 am to salty1
quote:
So the Lakers have a monthly payroll of approximately $1.84MM. Impressive.
Remember the amounts are capped at 100K/annual per employee.
I'm guessing their actual payroll is much higher.
Posted on 4/27/20 at 6:24 pm to Golfer
...
This post was edited on 10/1/21 at 4:49 pm
Posted on 4/27/20 at 7:41 pm to LSUFanHouston
Posted on 4/28/20 at 10:01 am to LSUFanHouston
They should be ashamed. Having a limited pool of funds, they directly competed with businesses that needed the money.
Congress should be even more ashamed by making this perfectly acceptable. Time matters right now, they don’t seem to understand or care about that.
Congress should be even more ashamed by making this perfectly acceptable. Time matters right now, they don’t seem to understand or care about that.
Posted on 4/28/20 at 6:52 pm to OceanMan
quote:
Time matters right now, they don’t seem to understand or care about that.
Would it have been better to not fund the program for another week while Congress argues about whether the Lakers (or pick another example) are technically a small business? Seems like this is one time where they didn’t let technicalities get in the way of common sense. There is no perfect solution to this issue.
Posted on 4/28/20 at 11:19 pm to DaStain
I thought I heard Mnuchin day today that they were returning it? He definitely said that over a certain amount taken/given would be audited.
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