Police frequency
Huge multi-million dollar public companies in the U.S. have been abusing a relief fund and depriving small businesses of vital tax-backed loans by claiming hundreds of millions of dollars not intended for them from the Paycheck Protection Program. Research…
But the data shows that large public companies with thousands of employees and deep pockets are abusing the program and claiming relief dollars through the scheme, depriving smaller businesses of tax-backed funds that could save them from going under. Many of the public companies claiming loans thought the scheme have a market value of over $100 million, with some even claiming the maximum $10 million allowed through the scheme.
Public companies that have received funding from the PPP include metal working giant DMC Global, which has a $405 million market value, biotech company Wave Life Sciences ($286 million), biopharmaceutical company Mannkind ($273m) and Fiesta Restaurant Group ($186 million).
At least 94 publicly traded companies have been recipients of taxpayer-backed loans, and according to AP around 25 percent of these companies warned investors in the run up to the crisis that their ability to remain viable was in doubt.
According to the U.S. Small Business Administration, 4,400 of the approved loans exceeded $5 million when nationally the typical amount requested from the program was $206,000.
If the $243.4 million claimed by the corporate giants had been split fairly between typical businesses requesting money through the program, over 1,100 more businesses could have received funds.
'The intent of this money was not for big public companies that had access to capital,' Treasury Secretary Steven Mnuchin said when addressing the issue during Tuesday's White House press briefing.
Public companies that have received funding from the PPP include metal working giant DMC Global, which has a $405 million market value, biotech company Wave Life Sciences ($286 million), biopharmaceutical company Mannkind ($273m) and Fiesta Restaurant Group ($186 million).
At least 94 publicly traded companies have been recipients of taxpayer-backed loans, and according to AP around 25 percent of these companies warned investors in the run up to the crisis that their ability to remain viable was in doubt.
According to the U.S. Small Business Administration, 4,400 of the approved loans exceeded $5 million when nationally the typical amount requested from the program was $206,000.
If the $243.4 million claimed by the corporate giants had been split fairly between typical businesses requesting money through the program, over 1,100 more businesses could have received funds.
'The intent of this money was not for big public companies that had access to capital,' Treasury Secretary Steven Mnuchin said when addressing the issue during Tuesday's White House press briefing.
AP NEWS
AP: Publicly traded firms get $365M in small-business loans
Companies with thousands of employees, past penalties from government investigations and risks of financial failure even before the coronavirus walloped the economy were among those receiving...
Media is too big
VIEW IN TELEGRAM
Full Tucker Carlson Segment Blasting Trump’s Feckless EO (from The Columbia Bugle)
This marked the second week of protests in North Carolina, with Tuesday's event drawing a larger crowd of around 1,000 at its peak and political leaders joining in. Protesters were seen flouting social distancing altogether Tuesday, with people packing much closer together than the six feet guidelines and ignoring health warnings to wear masks. Raleigh, North Carolina: Police bikes are seen at the front of crowds in Raleigh. Hundreds are packed into the roads, with social distancing totally disregarded.
Forwarded from Donald J. Trump NOT [FAKE]
Please open Telegram to view this post
VIEW IN TELEGRAM
This media is not supported in your browser
VIEW IN TELEGRAM
WARNING: GRAPHIC CONTENT! The attack on the Israeli military occurred this morning at a checkpoint in the Jerusalem area. The attacker's van shot down one of the fighters, then the attacker used a knife. The attacker was eliminated.
Hundreds were ordered off beaches and cited in one California community over the weekend by police enforcing a shelter-in-place order meant to slow the spread of coronavirus.The Pacifica Police Department said in a news release that between Friday and Sunday, officers patrolling Linda Mar Beach were forced to order 275 visitors off the beach, after learning they resided more than five miles away. "We found an alarming number of those folks had, in fact, traveled more than five miles to come to those beaches and hiking trails," Pacifica Police Capt. Chris Clements told KTVU. Clements said that even though beach parking was closed, crowds came in droves, some from as far away as Sacramento, more than 100 miles away. "Please stay home," Clements told KTVU. "These orders are in place to protect everybody's health.
This media is not supported in your browser
VIEW IN TELEGRAM
Nigerians burning down Chinese businesses in retaliation for attacks on Africans in China.
Blustery conditions created a treacherous situation at a Minnesota lakefront as homes and businesses were threatened by a wall of ice. The National Weather Service (NWS) Twin Cities office said gusts over 50 mph were expected throughout the region on Monday, as a cold front and storm system moved through the area. The strong winds led to an "ice shove" on Mille Lacs Lake, a large lake roughly 100 miles north of the Minneapolis-St. Paul area. According to the National Oceanic and Atmospheric Administration, an ice shove is created when "wind, and currents, changes in temperature" push ice onto the shore. One home's deck was damaged as the ice seeped through a railing and built up to the rear windows on building. Homeowners put plywood over their rear windows and doors to prevent any future damage. The phenomenon is common along the popular lake, according to FOX9.
This media is not supported in your browser
VIEW IN TELEGRAM
The California Department of Parks and Recreation said on Twitter, "While it’s our mission to keep you outdoors & active, it’s also our mission to keep you safe," and urged, "Please don’t take any road trips to parks & beaches now and let’s all do our part to #FlattenTheCurve.