I knew I didn’t like Tom Brady for a reason. Was Paycheck Protection really intended for those with net worth and income in the millions?
Is there something I’m missing here, like perhaps it was used to pay furloughed employees? Or is it that even the biggest celebrity in the NFL stayed in Boston long enough to absorb its entitlement to something for nothing mindset?
Seems to me Paycheck Protection should have been limited to small businesses whose owners didn’t have any other income and really were struggling.
Not saying it was necessarily the right place for the money to go, but it didn’t go into his pocket. Assuming that no fraud occurred, that money went to the employees of his company.
The PPP program missed the mark. The intentions were good but in many cases, it wasn’t necessary. Coming out of March, it appeared to be a well needed, holy ■■■■ the bed Fred type moment and I’m sure most business owners like myself were very grateful. Then the stimulus kicked in and here came May…the best month in our history, followed very closely by June and then July where people spent money like it was growing on trees. April was the absolute worst month in the history of our company and yet, July was the best and not only was July the best but it beat the previous best month which was May and did so by over 40%. By the end of the year, the bottom line was the best ever…times almost 2! There was no federal income tax on it either. The intent was good but as it turned out, in my case, it was wasted.
It’s great to hear your company is doing so well! That’s wonderful news!
It rattles my cage to see small businesses close up shop. Hair salons, restaurants, even a coffee shop with a catchy name as well as a few auto repair shops now have FOR LEASE signs.
Yet TB12 refuses to disclose how the loan was used. As the petition was started by a Massachusetts petitioner, it appears the love for Brady may even run out in his long time state of residence.
It absolutely helped us get through the tough times, but it probably could have been easier…
But hey, they rolled it out quick and were trying to figure it out as they went along…
And to say it was wasted on your company…how many good employees would you have lost in April without it? You know? Things turned around, but would you have been the same company t capitalize on May if you had to lay everyone off in April?
Pretty crazy days for sure, and generally, this program, like all large governement programs, did a lot of good, but had some waste and complications around the edges. Kind of the best you can do trying to meet a crisis of that scale I think.
At the end of March, I called everyone together. When I saw the fear in the faces staring back at me, it was something I’d never, ever encountered before. At my expense…and mine alone…I sent home everyone over a certain age and those that had medical issues. I kept approximately 15% of the employees on full time but compensated them with a 25% COVID bonus. The rest I placed on 3 days on and 4 days off, alternating between the two groups, to minimize their exposure to this unknown danger. Two weeks later, the program was rolled out and I applied. Do not get me wrong… I’m very grateful and April was the worst month in history and was…by a long shot. It was a disaster and yet we were all ok, with or without the PPP. Everything could have very well gone wrong for the rest of the year but…it didn’t. There was nothing in place to counter that, if that happened and that was my point. I am truly grateful but there’s another part of me that’s ashamed.
The government considers any company less than 500 employees a small business. Those are the companies that employ 75% of Americans. I suspect he qualifies as a small business.
Besides, he loves Donald Trump, so you have to love him.
So someone has an R by their name and I’m automatically supposed to love him? I don’t operate that way.
I think he was a two bit sperm donor to his first son (trotting the globe with a new woman while his ex did all of the parenting in California, gee I wonder why he didn’t get traded to a CA team since he does have a family member there), and I think he spent enough time in MA to learn the entitlement to a handout mindset.
Much as many cons fuss about welfare destroying minorities, most of the entitlement minded here who won’t let taxpayer money, I mean, a program, go to waste are white.
Maybe he’s any number of individuals’ deity of choice. But he isn’t mine.
One of the main reasons many PPP loans went to businesses they weren’t targeted for (at least according to what the feds said the PPP was supposed to be for) was the way they rolled it out…which was large banks handling a lot of the loans.
And larger businesses for better or for worse already have longstanding relationships with these banks, so of course the banks favored them.
This is our system of Rentier Hyper-Capitalism today.
