04-04-2020, 04:57 PM
(04-04-2020, 12:19 PM)GMDino Wrote: Oh and the Payroll Protection Program is just as bad.
No guidance for the banks, the form to APPLY changed twice in two days.
No idea what information the banks even need in some cases.
And they will be paying businesses to keep employees on even if they don't need them so the unemployment numbers look good under the guise of helping with cash flow.
I've spent the last week telling businesses how to register with my bank so that the can access the application when it goes live. Along with answering a million questions the SBA till hasn't provided clears answers to address. That being said - as anti- big government as I am - the efficiency of passing the law late Friday March 27, having the applications to the banks by just before mid-night April 2 and supposedly ready to disburse the funds Monday the 6th has been really impressive from a logistically standpoint.
In regards to you last line, many of the business owners I spoke to only have themselves or family on the payroll. For them this money the difference between surviving or literally not being able to re-open if these closures last more than a few more weeks.
Most restaurants in downtown Pittsburgh are closed (not even offering delivery) as no one is downtown working to place orders from those businesses. One guy I'm helping was doing 5% of his normal sales volume operating as takeout only the first week of Allegheny county's stay at home order. The next week he just didn't re-open. When he finally re-opens he will have to drop $5,000 to replace all his food + even more to replace all his paper and plastic supplies he wants to replace as a safety precaution. He has and will continue to pay his employees (not as much as normal), but starting Monday the payroll will be exclusively funded from his personal bank account. And I can tell you he won't be able to afford doing that very long.
If Trump/Congress/ the government is selfishly keeping workers receiving a paycheck I fully support that.
EDIT: Trump Tweeted an hour ago the Paycheck Protection Program is up and running. The fact he wanted until banks with Saturday hours are closed before Tweeting that is the closest he will get to singlehandedly getting my vote. lol
![[Image: Cz_eGI3UUAASnqC.jpg]](https://pbs.twimg.com/media/Cz_eGI3UUAASnqC.jpg)