CARES Act Paycheck Protection Program???? - Page 8
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  1. #141
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    Gee, Shake Shack returns their load, Ruth Chris Steak house gets twice the max, or whatever

    But we need no oversight on the fund that is supposed to help large companies.

    While Chase, WF, and Bank of America were telling you to check the website, they had a team working with these guys to get their loans done

    Remember that when making a banking decision

    But hey we get a thousand bucks per employee

  2. #142
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    Quote Originally Posted by gustafson View Post
    Gee, Shake Shack returns their load, Ruth Chris Steak house gets twice the max, or whatever

    But we need no oversight on the fund that is supposed to help large companies.

    While Chase, WF, and Bank of America were telling you to check the website, they had a team working with these guys to get their loans done

    Remember that when making a banking decision

    But hey we get a thousand bucks per employee

    Quote Originally Posted by gustafson View Post

    Be honest, there will be time to check things in the future

    As for $1000/employee, apparently that means that your employees gross $100/week on average?


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    Think Snow Eh!
    Ox

  3. #143
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    Quote Originally Posted by gustafson View Post
    Remember that when making a banking decision
    Also that Wachovia got caught laundering mexican drug money:

    Wachovia pays $160 million to settle drug money probe - Reuters

    And that part of the deal was they'd be bought out by Wells Fargo, remember those assholes? The ones that opened up phony
    accounts and insurance policies for their customers?

    Banks. They figured it out, best way to rob a bank, is to BE ONE.

  4. #144
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    Quote Originally Posted by Ox View Post
    As for $1000/employee, apparently that means that your employees gross $100/week on average?
    Different SBA loan program. He's talking about the advance payment on the EIDL.

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  6. #145
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    Quote Originally Posted by Ox View Post
    As for $1000/employee, apparently that means that your employees gross $100/week on average?


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    Think Snow Eh!
    Ox
    I was grousing about how they 'promised' us a 10k grant and then backed out and said 1k per employee. It is actually included in the application

    Not that I 'deserve' a 10k grant, but as they were giving money to Shake Shack, they were telling little guys that there was not enough money for what they promised

  7. #146
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    Quote Originally Posted by motion guru View Post
    We partnered with MTorres out of Spain . . . we did the control system design and build, they did the 128ft by 300ft gantry pick and place structure for handling the wing spars. Takes a bit of real estate to make a 777 wing.
    Doo they stuff the whole completed part in an autoclave ?

  8. #147
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    Quote Originally Posted by alphonso View Post
    Two hours after I posted this, bank called me and said money is in my account. I asked how are they going to know that I use the money for payroll. "We're just going to look at your payroll records for the next 8 weeks." That should be easy enough since my people all bank at this bank.
    We were emailed that the money was in our account Friday afternoon. The conditions that must be met to apply for forgiveness are fairly simple: You keep your workers employed and don't use more than 25% of the funds for rent. Any other use of the funds will be repayable by the date specified in the loan document, at 1% interest. It is roughly the same payback as a short-term LOC only with a stupidly low interest rate—which means that at the end of 8 weeks it will behoove us some of us to read the tea leaves and see what allocation makes financial sense...

    Oh, and a spreadsheet to document each withdrawl from that account is in process now and is being sent to our CPA.

  9. #148
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    Quote Originally Posted by gustafson View Post
    I was grousing about how they 'promised' us a 10k grant and then backed out and said 1k per employee. It is actually included in the application

    Not that I 'deserve' a 10k grant, but as they were giving money to Shake Shack, they were telling little guys that there was not enough money for what they promised

    Well, up tuh now I never heard of The Shake Shack, but how many employees doo they have?

    The $10M shouldn't be for the company to pocket, it is to pay employee payroll while closed, or understaffed, while taking them back off of unemployment.
    So - now - after public outrage - in steads of them going back on payroll - they are staying on Unemployment?

    I don't know the situation, but that is the scenario that I am expecting.
    Non-investigating journalism?


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    Ox

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    Quote Originally Posted by Ox View Post
    Well, up tuh now I never heard of The Shake Shack, but how many employees doo they have?

    The $10M shouldn't be for the company to pocket, it is to pay employee payroll while closed, or understaffed, while taking them back off of unemployment.
    So - now - after public outrage - in steads of them going back on payroll - they are staying on Unemployment?

    I don't know the situation, but that is the scenario that I am expecting.
    Non-investigating journalism?


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    Ox
    C'mon OX. this is not about them going back on unemployment, it was the promise of a 'small business' bailout

    They secured other financing after they realized the optics no doubt

    459 mill in revenue, not what most people consider 'small'

    And again, there is a much larger pot of money available for actual big companies
    https://www.washingtonpost.com/busin...s-program-dry/

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    Quote Originally Posted by Ox View Post
    So - now - after public outrage - in steads of them going back on payroll - they are staying on Unemployment?Ox
    Efforts to insert language into the act that would have prohibited earning more by staying home were defeated. If you're an employer and see a broader economic picture it's clearly counter to the intent of the act, but if you're one of those getting more money to stay off work it tells you who to vote for...

  12. #151
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    Quote Originally Posted by Oldwrench View Post
    Efforts to insert language into the act that would have prohibited earning more by staying home were defeated. If you're an employer and see a broader economic picture it's clearly counter to the intent of the act, but if you're one of those getting more money to stay off work it tells you who to vote for...
    A friend of mine who is still working asked to be laid off. He’d make $300/wk more on unemployment than he does as a mold maker. *His numbers, I didn’t fact check him.*

  13. #152
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    Quote Originally Posted by digger doug View Post
    Doo they stuff the whole completed part in an autoclave ?

    yup . . .


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    Wow. Just wow...

  16. #154
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    Quote Originally Posted by Oldwrench View Post
    Efforts to insert language into the act that would have prohibited earning more by staying home were defeated. If you're an employer and see a broader economic picture it's clearly counter to the intent of the act, but if you're one of those getting more money to stay off work it tells you who to vote for...
    This is true, and it is not counterproductive to what they are trying to do
    Many states have downright miserly UI,


    The point is to not have people in the position to 'have' to go to work and get sick for financial reasons


    So, no it is not counter to the intent of the act

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    That'd make one hell of a pizza.

  18. #156
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    Quote Originally Posted by motion guru View Post
    yup . . .
    I got to see them install one of the 787 fuselage autoclaves in Japan. Not as big as this one, though. The door locking mechanisms are very neat.

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    Quote Originally Posted by Oldwrench View Post
    Efforts to insert language into the act that would have prohibited earning more by staying home were defeated. If you're an employer and see a broader economic picture it's clearly counter to the intent of the act, but if you're one of those getting more money to stay off work it tells you who to vote for...
    I have heard, from reputable sources, that a lot of that had to do with the age of many unemployment offices computer systems. A lot of them are in COBOL and, without a lot of reprogramming, couldn't handle it the way they wanted to originally. Just adding $600 to every check, though, is easy to do.

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    Quote Originally Posted by gustafson View Post
    The point is to not have people in the position to 'have' to go to work and get sick for financial reasons...So, no it is not counter to the intent of the act
    The intent of the Act was to preserve people's jobs, which implies aid to Joe Lunchpail's employer rather than aid directly to him. If Joe should decide it's to his immediate financial interest to stay home when there is work waiting, then Joe's employer just might be forced to replace him and eat that portion of the PPP loan devoted to preserving Joe's slot. Which, cruel exploiter of the proletariat that I am, would be what I'd do, however regretfully. Fortunately my plant is in a right-to-work state and a long, long way from UAW influence, so I have more options than an employer in the Rust Belt.

    I would respectfully ask that you kindly temper your condemnation unless you are meeting a payroll more than $10K/week. That puts a different complexion on matters.

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  22. #159
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    There are people going to play that "I doan wunna git sick'n die" card as long as they can git paid to stay home.

    It's time to go to werk!

    This whole country has shut down essentially as sympathy pains for NY and Detroit.


    My daughter werks at a very large hospital in Columbus, and they have people laid off for Petey's sakes!
    Let alone the ones out here in the corn fields that aint had hardly anyone come through the door in weeks.

    AMAZING how healthy everyone is when they think it's safer to stay home than go to the hospital...



    ----------------

    Think Snow Eh!
    Ox

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  24. #160
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    Quote Originally Posted by Ox View Post
    There are people going to play that "I doan wunna git sick'n die" card as long as they can git paid to stay home.

    It's time to go to werk!

    This whole country has shut down essentially as sympathy pains for NY and Detroit.


    My daughter werks at a very large hospital in Columbus, and they have people laid off for Petey's sakes!
    Let alone the ones out here in the corn fields that aint had hardly anyone come through the door in weeks.

    AMAZING how healthy everyone is when they think it's safer to stay home than go to the hospital...



    ----------------

    Think Snow Eh!
    Ox
    There are also patients that should be getting treatments that aren't because all elective surgeries are cancelled. Yes, they can get by with postponing but I would not consider postponing early stage cancer surgery as purely elective.

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