[RickFLM4]

Originally Posted by DocL

The definition of a small company is too broad. And to me, a company with 500 employees is a large one. I would say a company with less than 50 should be the limit.

500 employees is not a large company. Large companies have tens of thousands of employees.

[ASAP]

See this is why this is all nonsense... because we are all arguing about the definitions of it and somehow someway someone will get fukd.

How about we scratch saving businesses completely? And just do individual payment plans based solely on income? Oh, that would ruin many businesses? Oh well, welcome to free market capitalism.

Do you think the GOVt's mandate forced these business downturns or a health crisis that scared people from actually going anywhere?... interpretation interpretation there...

Again, shady shady no matter how you spin it.

[ASAP]

Originally Posted by hubbahubba

If the loans were to be given out after 3 months of losses, there is no way I could have been able to keep all employees on payroll. We have cut shifts of many staff, and scaled it to what our revs are now. Are you suggesting that a small business has the ability to float all employees for 3 months? Mine isn't, and I assure you that prior to this mess it was an incredibly vibrant business. Our payroll was about $30k every 2 weeks pre-covid, last payroll was $12k. No way I would or could front that much with an 80% drop in revs without having cash in hand first from the ppp. I am not a bank, and I would venture a guess that a huge percentage of small businesses are in the same boat.

Did the govt destroy your business or the health scare? No business should be saved in true market capitalism... if you laid those people off, then they could qualify for individual stimulus which would be akin to salary assistance. Thats how America works... i don't get how anyone could argue any of this.

I have friends in the liqour business that were hit by a 25% USA tariff... who is helping them? What saving is there for them? Now a lot of business of theirs is also compounded by Corona fears... they may be laid off in a month all while their businesses were dealing with everything at once and tried to help them... No assistance and the payouts are now gone. Where is the GOVT? Oh yea, go and fk yourself lol... this is ridiculous.

[hubbahubba]

Originally Posted by ASAP

Did the govt destroy your business or the health scare? No business should be saved in true market capitalism... if you laid those people off, then they could qualify for individual stimulus which would be akin to salary assistance. Thats how America works... i don't get how anyone could argue any of this.

I have friends in the liqour business that were hit by a 25% USA tariff... who is helping them? What saving is there for them? Now a lot of business of theirs is also compounded by Corona fears... they may be laid off in a month all while their businesses were dealing with everything at once and tried to help them... No assistance and the payouts are now gone. Where is the GOVT? Oh yea, go and fk yourself lol... this is ridiculous.

Destroy is a harsh word. I would call it more of a temporary slow down that has caused about half the staff to be laid off, and hours cut on most of the rest. To answer your question, the mandatory closure of our dining room is what is hurting us. That is 100% health scare, wouldn't you say? I also don't necessarily disagree with you on your statement about individual payments, but that is not how the powers that be chose to go. Since they didn't, and they decided it should be thru payroll, it should go to those who need it most with employees who have been laid off. My point to you is that I don't have $180k to give out to employees over the next 2 months without a normal influx of cash, and I doubt most businesses would either. If you have a magic wand, please let me borrow it.

Are you telling me that your friends in the liquor business didn't pass that cost right on to their consumer? If they didn't, why not? I am no expert on tariff's, but if the same product goes to a different liquor biz, they are hit with the tariff, too, right? End result is the consumer pays. That's how America works too, isn't it?

Bottom line is nobody asked for this, and we need to get through it the best we ALL can. We can quibble on methods all we want while looking in the rear view mirror, but that does nobody any good. We are where we are, so let's make the best of it.

[DocL]

Originally Posted by RickFLM4

500 employees is not a large company. Large companies have tens of thousands of employees.

Well I have four employees, including myself. And most of my friends who own small businesses also have under 50 people. This includes restaurants, medical offices, vape shops, contractors, lawyers, accountants, etc...So yeah, 500 people is a lot in my eyes.

[TrevorM3]

Originally Posted by RickFLM4

Washington Post (saw on Apple News) reporting deal near to add $300M to PPP program funding.

thank you for this upddate.

so i guess you can still apply while this is in progress? then whenever it kicks in they review your app?

[RickFLM4]

Originally Posted by TrevorM3

thank you for this upddate.

so i guess you can still apply while this is in progress? then whenever it kicks in they review your app?

Not sure, but I doubt any banks are taking applications they haven’t already received before more funding is approved. Probably best to call the bank and ask and keep an eye on the news ro get an app in ASAP if you need to wait for more funding to be approved.

[DocL]

BTW RickFLM4, if you wish you can help my business and become a patient of mine. My office is in Boca across from FAU.

[dreamingat30fps]

Originally Posted by DocL

BTW RickFLM4, if you wish you can help my business and become a patient of mine. My office is in Boca across from FAU.

What kind of doctor?

[DocL]

Originally Posted by dreamingat30fps

What kind of doctor?

Dentist and Sleep Apnea.

[RickFLM4]

Originally Posted by DocL

BTW RickFLM4, if you wish you can help my business and become a patient of mine. My office is in Boca across from FAU.

Thanks for the offer, but I'm in Wellington so that's about a 35-40 minute ride. Plus I need to support my existing dentist.

[saeyedoc]

I see that Shake Shack decided to return the $10M they got so more money can go to small struggling restaurants, nice move!
It makes no sense to have an earning cutoff for the personal stimulus money, do you really think someone who makes $100k has that much more savings than someone who makes $99k? Higher earners also tend to have higher expenses, it's not like they can just move somewhere cheaper that quickly.

[flipmeraz]

I got my money in today. Filled out my app a couple weeks ago.

[DocL]

Originally Posted by RickFLM4

Thanks for the offer, but I'm in Wellington so that's about a 35-40 minute ride. Plus I need to support my existing dentist.

But does he/she drive a M3 Comp 6spd?

[RickFLM4]

Believe it or not he has an E46 M3.

[hubbahubba]

Originally Posted by saeyedoc

I see that Shake Shack decided to return the $10M they got so more money can go to small struggling restaurants, nice move!
It makes no sense to have an earning cutoff for the personal stimulus money, do you really think someone who makes $100k has that much more savings than someone who makes $99k? Higher earners also tend to have higher expenses, it's not like they can just move somewhere cheaper that quickly.

It was a nice move by Shake Shack, if they truly didn't need it and actually did it out of the goodness of their hearts, not to assuage a little heat in the kitchen. Pardon the pun.

[hubbahubba]

Originally Posted by flipmeraz

I got my money in today. Filled out my app a couple weeks ago.

Awesome, congrats! What bank did you use?

[TrevorM3]

Originally Posted by flipmeraz

I got my money in today. Filled out my app a couple weeks ago.

congrats, your own bank?


also, not to turn this threadd upside down, but did you guys see Harvard is getting 9 million?

they are worth billions, with a B..

[dsad1]

Originally Posted by hubbahubba

It was a nice move by Shake Shack, if they truly didn't need it and actually did it out of the goodness of their hearts, not to assuage a little heat in the kitchen. Pardon the pun.

I think the better move was to never apply if you knew you didn't need it, or didn't think it was meant for you. That $10MM will probably now be lost in the system.

[hubbahubba]

Originally Posted by dsad1

I think the better move was to never apply if you knew you didn't need it, or didn't think it was meant for you. That $10MM will probably now be lost in the system.

Totally agree.

[Kolyan2k]

$10m will sure find its home ))

[RickFLM4]

If this loan closed and they received the cash, it may just be a loan repayment now and not available for anyone else to borrow. It’s not really clear if it will be available for anyone else even though they said they are returning it to let someone else use it.

I actually don’t fault them for taking the money if they were allowed to do so. But returning it with an open letter that makes it sound like there were a couple of people agonizing over whether or not to apply and how to do it is disingenuous. The have teams of attorneys and bankers advising them. They made the decision to take it and then decided the PR backlash wasn’t worth it so they spun it. At the end of the day, it’s good the taxpayers got the money back, but not sure this really helps anyone except Shake Shake.

https://www.linkedin.com/pulse/shake...randy-garutti/