I’m appalled that giant conglomerates, subsidiaries and chains would even be thought of 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 sizzling 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 12 months), 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 12 months and its CEO was paid practically $2.three million in 2019. The corporate stories 800 staff and isn’t shut down.
I believed this was supposed to learn “small” companies? What number of of our native companies must shut their doorways as a result of they might not get mortgage cash? These are the individuals that basically want it. Funding ought to have begun at a a lot decrease worker degree and corporations with giant earnings deemed ineligible.
The businesses above and others with related earnings ought to be ashamed and boycotted.