03-27-2020, 12:41 AM
Looks like Trump will be one of those bailed out by the $2 Trillion stimulus.
"According to the Swamptastic provisions of the bailout bill, small businesses aren’t just those with under 500 employees (as is the traditional definition). A specific exception has been made for some specific grifters in government who own hotels and restaurants:
Per NYT:
“… on Page 15 of the bill, there is a section with the title “Business Concerns With More Than 1 Physical Location.” It says this change in federal law will apply to companies that fit “a North American Industry Classification System code beginning with 72” — a reference that turns out to mean the hotel and restaurant industry.
The provision says that if a company owns multiple hotels, even if the overall hotel or restaurant chain has more than 500 employees — the limit to qualify for treatment as a small business — it will still be able to take advantage of the small-business benefits offered in the rescue package.
That means loans from the federal government worth up to 2.5 times the firm’s monthly payroll that will not have to be repaid if the company uses them to keep paying employees during any coronavirus shutdowns.”
https://wolfstreet.com/2020/03/26/a-word...t-appears/
"According to the Swamptastic provisions of the bailout bill, small businesses aren’t just those with under 500 employees (as is the traditional definition). A specific exception has been made for some specific grifters in government who own hotels and restaurants:
Per NYT:
“… on Page 15 of the bill, there is a section with the title “Business Concerns With More Than 1 Physical Location.” It says this change in federal law will apply to companies that fit “a North American Industry Classification System code beginning with 72” — a reference that turns out to mean the hotel and restaurant industry.
The provision says that if a company owns multiple hotels, even if the overall hotel or restaurant chain has more than 500 employees — the limit to qualify for treatment as a small business — it will still be able to take advantage of the small-business benefits offered in the rescue package.
That means loans from the federal government worth up to 2.5 times the firm’s monthly payroll that will not have to be repaid if the company uses them to keep paying employees during any coronavirus shutdowns.”
https://wolfstreet.com/2020/03/26/a-word...t-appears/
