jay

Fuck covid.

[jay @michaelkern81]

@shallowcrick @KDKA Lakers Several MLS teams. Buccaneers several NASCAR teams as well.

[jay @michaelkern81]

@shallowcrick @KDKA They weren’t the only professional sports team to receive the loan. The business receives the loan not the owner is what I am saying.

[jay @michaelkern81]

@Stephan23588445 @KDKA They busted many business for fraud early on and still are. You cannot blame a business for using this program if they did everything legally and within the program rules. Mad at anyone blame the politicians and the SBA that designed it. It worked for the penguins as they said

[jay @michaelkern81]

@Stephan23588445 @KDKA And for the leg work you had to prove payroll, rent and utilities to a point. The application was simple yes and designed to be quick as businesses needed the cash quickly. My bank had underwriters look everything over. Then they sent to SBA for approval.

[jay @michaelkern81]

@Stephan23588445 @KDKA The PPP average Loan amount was 107k. So please explain how it only helped large businesses? Local news is only reporting on penguins loan becuase its a sexy name and can be considered controversial. Here is a link for stats of the PPP. https://t.co/V11OWvoU3u

[jay @michaelkern81]

@Stephan23588445 @KDKA Everyday people and the news reporters don’t understand what it takes to keep a business moving and people employed. Cash flow is the life blood for any business even the penguins with only 175 employees. People think that businesses have this giant bank account with endless cash

[jay @michaelkern81]

@Stephan23588445 @KDKA Just because they are a pro sports team doesn’t mean covid didn’t crush their cash flow. Which it definitely did with no fans. Even if they had 100million in bank they wouldn’t have enough for their expenses. Payroll(which includes 401k, taxes, healthcare), rent, utilities etc

[jay @michaelkern81]

@Stephan23588445 @KDKA It kept my small business open. 35 employees with yearly sales around 35 million. PPP was to help business with under 500 employees keep their employees. Pens employ 175 people with sales around 185 million with operating income around 35 million for 2018/2019.

[jay @michaelkern81]

@theethanmcnew @CharDeeMacDen12 @VinceKane412 @KDPomp Yes moss has less catches and more yards. Double the touchdowns as Hines. No comparison.

[jay @michaelkern81]

@HCoach71 @KDKA The billionaire bought the house. Not the penguins. Penguins pay the rent not the billionaire. They kept majority of their 175 employees and some were furloughed. They are still paying those peoples healthcare. Read up on PPP.

[jay @michaelkern81]

@shallowcrick @KDKA A billionaire bought the house. Not the penguins.

[jay @michaelkern81]

@CDinco7 @KDKA Their bank and the sba had to approve the application originally. Many have been busted for fraud already. But what this article is reporting on isn’t fraud. It’s fake news to sell clicks and ad dollars.

[jay @michaelkern81]

@CDinco7 @KDKA It’s not free money unless you prove you used it for payroll, kept same number of FTE’s and used no more than 40% for other expense such as rent, utilities etc. the news keeps reporting like something is wrong. Google ppp forgiveness. They have to apply to make it a grant.

[jay @michaelkern81]

@Stephan23588445 @KDKA Yours was free. This is a loan if they don’t use 60% for payroll. Also, they were allowed to use it for rent and other expense. To have it turn into a grant they have to apply for forgiveness to the SBA

[jay @michaelkern81]

@markadwilliams @KDKA Read up on PPP. Fake news doesn’t even understand it.

[jay @michaelkern81]

@KDKA This isn’t news. This is the news and people not understanding the PPP. They can use it for rent, payroll and other expenses. At least 60% is for payroll and they must keep same number of employees. If they don’t meet that requirement, it becomes a loan.

[jay @michaelkern81]

@CDinco7 @KDKA They can use it for what they want. If they don’t use it for payroll of at least 60% it becomes a loan.

[jay @michaelkern81]

@KDKA Hey @kdka, repost this now that you say the last employee clocked out on July 7th. What terrible reporting.

[jay @michaelkern81]

@Totalblamblamm @KDKA Hotels needed the PPP. They were hit very hard and hotel industry will not recover. Especially hotels in downtown. It’s a ghost town. Will never be the same

[jay @michaelkern81]

@Totalblamblamm @KDKA It’s a loan to cover at least 60% of payroll and other expenses. Article now says the employees haven’t worked since July. Not March. There is an app for forgiveness turning it into a grant. If they don’t meet requirements it stays as a Loan.