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Business, Economics, and Taxes: Capitalism. Yay? >=(

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Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

dxmnkd316 said:
Examples?

Because large companies complaining about liquidity should sell their stock to raise money. God I ****ing hate bailouts to these companies when they’ve been buying back billions in stock for years.
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.
 
dxmnkd316 said:
Examples?
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https://www.cnbc.com/2020/04/24/public-companies-split-on-whether-to-return-small-business-loans.html

Davis said the PPP loan helps him keep his 215 skilled workers on the job at Digimarc, a Beaverton, Oregon-based tech company that creates invisible digital identifiers for everything from driver's licenses to bank notes. The SBA funds are critical, he said, since the company is currently operating at a loss and only generates some $23 million in annual revenue.

"The notion that we're a big tech company with access to big capital is flawed," he said. "To return [the PPP funds] would be breaching fiduciary duty."
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"Biolase has approximately 150 employees and is well under the 500-employee defined maximum for companies to participate in the PPP," company spokesman Todd Kehrli wrote in an email. He added that Biolase doesn't have plans to return the funds.

"Given the current economic situation, it was unlikely Biolase could access public equity markets to raise cash to help make up for the significant lost revenue we experienced," he added. "The PPP was essential in helping maintain Biolase as a viable business moving forward."

Others emphasized that being public doesn't necessarily mean access to sufficient capital whenever needed. That's especially true among small- or micro-cap companies, said Audrey Chang, a spokeswoman for travel company Lindblad Expeditions.

"Lindblad does not have a substantial market value, rather it is a micro-cap company with a $250 million market capitalization. The company does not have ready access to capital, although we are exploring these options," she wrote in an email.
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I do agree that some companies should be selling stocks they're sitting on to raise capital; but yet these companies seem to be in line with the spirit of the original rules.

I'll listen to those smarter than I explain why these companies should be burned at the stake. :)
 
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Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

aparch said:
[I do agree that some companies should be selling stocks they're sitting on to raise capital; but yet these companies seem to be in line with the spirit of the original rules.

I'll listen to those smarter than I explain why these companies should be burned at the stake. :)
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You implied these were large publicly traded companies
aparch said:
So slight change of topic, but not by much; I'm slightly annoyed with the finger pointing articles at large publicly traded companies that don't have the liquidity AND meet employee cap set forth in the spirit (and recently formalized) of the PPP loan.

These companies actually need it, and yet they're being lumped in with the large corps who obviously scammed the system.
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I assumed you meant large corps. Not those as small as digimarc. I misunderstood.
 
dxmnkd316 said:
I assumed you meant large corps. Not those as small as digimarc. I misunderstood.
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My mistake. I was unsure how to express that they're small companies who have a large presence in the stock market.

It seems like companies like Digimarc have been lumped in with Shake Shack and others when discussing the leeches on the PPP loans.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

aparch said:
My mistake. I was unsure how to express that they're small companies who have a large presence in the stock market.

It seems like companies like Digimarc have been lumped in with Shake Shack and others when discussing the leeches on the PPP loans.
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That, and please correct if I am wrong, where are franchises in this? Can they apply since they are not corporate?
 
aparch said:
So slight change of topic, but not by much; I'm slightly annoyed with the finger pointing articles at large publicly traded companies that don't have the liquidity AND meet employee cap set forth in the spirit (and recently formalized) of the PPP loan.

These companies actually need it, and yet they're being lumped in with the large corps who obviously scammed the system.
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If they're publicly traded and need liquidity, they can sell some of those stock shares they've spent the last two decades buying back, so their top execs have nice pay packages.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Canadians are receiving $2000/month and their GDP per capita is about 2/3 of ours. So when you're struggling to pay rent remember - it's not that they couldn't help us more, it's that they chose not to.</p>— Albert Lee For Congress &#55356;&#57145; (@AlbertLee2020) <a href="https://twitter.com/AlbertLee2020/status/1254208161591857158?ref_src=twsrc%5Etfw">April 26, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

But instead in a land where Citizens United is considered sound legal precedence we value business owners above all else.
 
Slap Shot said:
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Canadians are receiving $2000/month and their GDP per capita is about 2/3 of ours. So when you're struggling to pay rent remember - it's not that they couldn't help us more, it's that they chose not to.</p>— Albert Lee For Congress �� (@AlbertLee2020) <a href="https://twitter.com/AlbertLee2020/status/1254208161591857158?ref_src=twsrc%5Etfw">April 26, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

But instead in a land where Citizens United is considered sound legal precedence we value business owners above all else.
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I’m sure no Canadian will go back to work when this is over. Their entire economy will just come to a halt!
 
Deutsche Gopher Fan said:
Honest question, where’s the vitriol? Handy said you guys were naive but I didn’t think anyone was name calling or spewing vitriol. You were really sensitive last night too and i think this may be a tad overreaction...
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Like racism, or sexism.... it is the victim who gets to decide
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

The Rube said:
My aunt was VP of a major bank, and she flat out said VP doesn't mean sh*.

The big biz companies...a lot gets lost in the translation, so to speak.
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I work for a bank, one of the biggest 5 in the nation. My bank gets sued quite often. We seemed to get fined more often than sued some years. Holding an officer title ([Division Officer), VP, P, EVP, C?O) has meaning. To go with the perks - sometimes very few - the title brings, it means you can be named much more easily in a lawsuit brought both by the government and any party suing the company.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

aparch said:
My mistake. I was unsure how to express that they're small companies who have a large presence in the stock market.

It seems like companies like Digimarc have been lumped in with Shake Shack and others when discussing the leeches on the PPP loans.
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Oh no...they are exactly who SHOULD be getting money. Without it they are in trouble. Ruth Chris would survive easily. Hotel chains have ways to survive.

The money should have been prioritized towards companies in need, not the ones who could get their applications in first.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

aparch said:
It appears, from Googling, that individual franchisees can apply of they meet the criteria. The Franchisors cannot apply on their behalf. *Glares at Potbelly Sandwiches*

Also, the motherfu**ing LA Lakers applied for (and received) a PPP loan? :mad:
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I posted that earlier :)

And yes franchises can apply. (and depending on the structure should be able to) My buddy is a franchise owner. The loss of money is on him and him alone. Corporate does not fund anything, they just give him access to their supply chain and obviously all recipes and methods of advertising. (they also have bankers they deal with who helped for a fee)

If you go to the SBA web site it has a list of all the franchises that meet the qualifications for SBA loans in general and his company is one of the ones listed. (that is how he bought the store) Obviously not all franchises are the same but in the case of his he easily meets all of the criteria. He got his SBA bridge loans already but still nothing for PPP. Thankfully his business is doing fine because he is not a sitdown restaurant.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

1st quarter GDP down 4.8%

And that was just two to three weeks at the end of March, and for the most part in certain locations.

We're now a month into Q2 at what's essentially been nationwide lockdown, with many places still having another month of restrictions in place through May.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Spartanforlife4 said:
1st quarter GDP down 4.8%

And that was just two to three weeks at the end of March, and for the most part in certain locations.

We're now a month into Q2 at what's essentially been nationwide lockdown, with many places still having another month of restrictions in place through May.
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Wait, 4.8% annualized or Q1 relative to Q4-2020 or year-over-year?

EDit: Annualized.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">This is stunning: Nearly half of the Q1 decline in GDP can be attributed to healthcare, which is presumably delaying of elective procedures.<br><br>It's a strange reality that in the midst of a pandemic, we have a healthcare-led recession. <a href="https://t.co/G3IezQkEzX">pic.twitter.com/G3IezQkEzX</a></p>— Justin Wolfers (@JustinWolfers) <a href="https://twitter.com/JustinWolfers/status/1255479750593859584?ref_src=twsrc%5Etfw">April 29, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
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