I’m appalled that giant conglomerates, subsidiaries and chains would even be thought-about for the Paycheck Safety Program, as a part of the sooner $350 billion in federal help.
CBS Information’ headline on its web site reads: “Paycheck Safety Program billions went to giant firms and missed virus scorching spots.” Some examples from CBS embody Ruth’s Chris Steak Home receiving $20 million (greater than 5,000 staff and $468 million in income final yr), Potbelly and Shake Shack, each with in depth income and worth. CBS additionally shares that Quantum, a publicly traded firm that makes laptop storage units, acquired $10 million from this system, reported greater than $400 million in gross sales final yr and its CEO was paid practically $2.three million in 2019. The corporate experiences 800 staff and isn’t shut down.
I believed this was supposed to profit “small” companies? What number of of our native companies should shut their doorways as a result of they might not get mortgage cash? These are the folks that basically want it. Funding ought to have begun at a a lot decrease worker stage and firms with giant income deemed ineligible.
The businesses above and others with related income must be ashamed and boycotted.