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

[aparch]

Stop me if you've heard this before... FAA is investigating Boeing and the air worthiness of one of their plane models.

This time, it's the 787 Dreamliner, and a structural load bearing weld of the fuselage body. So far, just eight planes have been found to have this problem.

 

[Slap Shot]

Only eight - comforting.

 

[dxmnkd316]

McNerny kills companies.

 

[ScoobyDoo]

A reminder for anyone impacted:

If your employer is opting in to the President's payroll tax "holiday," keep in mind that it is a loan that you will have to pay back. It is not free money. Your take home pay will be higher for the rest of this year, but you are still on the hook for the taxes that weren't withheld. Those taxes must be repaid between January and April 2021. So your take home pay starting in January will be less than normal while the back taxes are being paid.

Please plan accordingly so you aren't surprised in the New Year.

Thank you for this posting.

This policy is one of the stupidest things I have ever seen. Republicans are stoopid.

 

[FadeToBlack&Gold]

Stop me if you've heard this before... FAA is investigating Boeing and the air worthiness of one of their plane models.

This time, it's the 787 Dreamliner, and a structural load bearing weld of the fuselage body. So far, just eight planes have been found to have this problem.

McBoeing Douglas was perhaps the dumbest merger permitted in the last 25 years.

 

[MissThundercat]

Wyoming/Grandville (Michigan) is about as cheap as Holland. I got knocked backed to part time with paid job, so I picked up Door Dash again. However, I discovered Kentwood/East Grand Rapids is where the money is, and people are willing to tip huge on their Chik-Fil-A orders.

 

[aparch]

This TikTok deal keeps getting modified by all parties. Trump Admin want operations sold. TikTok, prior to Trump, wanted to establish a foothold in the US and is willing to sell the US operations. Chinese governement said they would rather shut down TikTok than see them cave to Trump. Microsoft and Walmart vocally agree to purchase the US operations of TikTok. All while the 15th of September was mentioned as the deadline.

Overnight, Microsoft started lobbing hand grenades as they walked away from the deal claiming that the terms were nothing that they were told.


Now: Trump ally and donor Larry Ellison has aligned Oracle as the leading company to buy TikTok's US operations. But wait, BAW GAWD, THAT'S STEVEN MNUCHIN'S MUSIC!!!

Mnuchin was just on CNBC saying that it was always about the user data stating in the US, Oracle will only be a minor investor and data partner, and that the administration will make sure the deal meets their (ever changing) requirements. Oh! And, the sale deadline was really the 20th, not the 15th.

 

[FadeToBlack&Gold]

This whole thing sounds like big government interfering with & regulating in the free market. I've been told that's bad.

 

[SJHovey]

So here is a question that I have for the group. Basically, if you were in my position, what would you do?

In very early July I uncovered what I believe to be fraud committed against the Paycheck Protection Program (PPP). Basically, I believe that someone obtained a loan for about $1 million for a business that does not exist, except in name only.

The way that I stumbled across it is that I was reviewing the Excel spreadsheet published by the Treasury department containing a list of the loans and I came across a loan given to a "business" located at an address that I happened to be very familiar with (it's owned by a customer of mine). I knew that the business listed in the loan documents had never been located in that location, and with some digging into real estate and business records it became pretty clear to me that someone had simply formed a corporation, searched online for commercial spaces available for lease, and used that as the supposed location of the business.

Once I became convinced that a fraud had occurred, I reported it. I called the Office of Inspector General for the SBA. They have a hotline for reporting fraud, which isn't all that "hot" since they don't answer, just ask you to leave a message, which I did.

I also submitted a fraud report online, which they let you do, outlining what I discovered, telling them I had lots of documents to support what I learned, etc...

Nothing. Complete radio silence for what has now been two months.

I considered a qui tam action, but as I understand it, you actually have to make a recovery, or the government has to make a recovery of the funds before you get paid, and honestly I expect this $1 million is long gone.

What does that leave? The FBI? The US Attorney's office? I suppose. I'm tempted just to let it go, at this point. The only thing that I wonder about, however, is whether this guy made a bunch of applications in a bunch of different business names, because in my digging I found some other "businesses" that he supposedly has connection to. I wasn't able to find any specific PPP loans in those businesses' names, however, loans to companies of less than $150,000 did not include the recipient's name, so if they were smaller loans I couldn't have learned about it.

 

[ScoobyDoo]

So here is a question that I have for the group. Basically, if you were in my position, what would you do?

In very early July I uncovered what I believe to be fraud committed against the Paycheck Protection Program (PPP). Basically, I believe that someone obtained a loan for about $1 million for a business that does not exist, except in name only.

The way that I stumbled across it is that I was reviewing the Excel spreadsheet published by the Treasury department containing a list of the loans and I came across a loan given to a "business" located at an address that I happened to be very familiar with (it's owned by a customer of mine). I knew that the business listed in the loan documents had never been located in that location, and with some digging into real estate and business records it became pretty clear to me that someone had simply formed a corporation, searched online for commercial spaces available for lease, and used that as the supposed location of the business.

Once I became convinced that a fraud had occurred, I reported it. I called the Office of Inspector General for the SBA. They have a hotline for reporting fraud, which isn't all that "hot" since they don't answer, just ask you to leave a message, which I did.

I also submitted a fraud report online, which they let you do, outlining what I discovered, telling them I had lots of documents to support what I learned, etc...

Nothing. Complete radio silence for what has now been two months.

I considered a qui tam action, but as I understand it, you actually have to make a recovery, or the government has to make a recovery of the funds before you get paid, and honestly I expect this $1 million is long gone.

What does that leave? The FBI? The US Attorney's office? I suppose. I'm tempted just to let it go, at this point. The only thing that I wonder about, however, is whether this guy made a bunch of applications in a bunch of different business names, because in my digging I found some other "businesses" that he supposedly has connection to. I wasn't able to find any specific PPP loans in those businesses' names, however, loans to companies of less than $150,000 did not include the recipient's name, so if they were smaller loans I couldn't have learned about it.

Just another example of how we do not have enough resources in white collar crime.

 

[SJHovey]

Just another example of how we do not have enough resources in white collar crime.

Yeah, I'm not going to argue with you about that. My hope in posting this wasn't to start a discussion or fight about Trump, the justice department, how terrible the PPP program is/was, etc... I'm really more curious about what people think they would do if in my position.

 

[ScoobyDoo]

n

Yeah, I'm not going to argue with you about that. My hope in posting this wasn't to start a discussion or fight about Trump, the justice department, how terrible the PPP program is/was, etc... I'm really more curious about what people think they would do if in my position.

I'm honestly not sure but I think the FBI would be my next stop.

 

[FadeToBlack&Gold]

I think you've done all the due diligence you can. If they don't refer it for an investigation/potential prosecution, it's not your job to hound every arm of federal law enforcement.

 

[aparch]

Yeah, I'm not going to argue with you about that. My hope in posting this wasn't to start a discussion or fight about Trump, the justice department, how terrible the PPP program is/was, etc... I'm really more curious about what people think they would do if in my position.

Wow. That's a lot to unpack. Only thing I could think of would be talking to your State AG or a state senator/representative. But unfortunately it does sound like you've done what you can.

This whole thing sounds like big government interfering with & regulating in the free market. I've been told that's bad.

CNBC has been hammering that home all morning. Every single host has questioned this move.

 

[St. Clown]

Yeah, I'm not going to argue with you about that. My hope in posting this wasn't to start a discussion or fight about Trump, the justice department, how terrible the PPP program is/was, etc... I'm really more curious about what people think they would do if in my position.

1) Good on you for all that work. A lot of people wouldn't have bothered.
2) They may have referred it to the necessary investigative branch, be it the Treasury Dept's officers, the FBI, or another agency. They won't necessarily report that to you because they've probably fielded a number of these reports and can't keep up with them all.
4) Or they're also investigating you just for spite. :-D

 

[Handyman]

Yeah...you have pretty much done what you can although contacting Ellison is an idea. The problem is I am not sure any agency has the resources to look into it at the moment. You can also report it (I assume you have) to the US Government Accountability Office.

 

[Kepler]

So here is a question that I have for the group. Basically, if you were in my position, what would you do?

In very early July I uncovered what I believe to be fraud committed against the Paycheck Protection Program (PPP). Basically, I believe that someone obtained a loan for about $1 million for a business that does not exist, except in name only.

The way that I stumbled across it is that I was reviewing the Excel spreadsheet published by the Treasury department containing a list of the loans and I came across a loan given to a "business" located at an address that I happened to be very familiar with (it's owned by a customer of mine). I knew that the business listed in the loan documents had never been located in that location, and with some digging into real estate and business records it became pretty clear to me that someone had simply formed a corporation, searched online for commercial spaces available for lease, and used that as the supposed location of the business.

Once I became convinced that a fraud had occurred, I reported it. I called the Office of Inspector General for the SBA. They have a hotline for reporting fraud, which isn't all that "hot" since they don't answer, just ask you to leave a message, which I did.

I also submitted a fraud report online, which they let you do, outlining what I discovered, telling them I had lots of documents to support what I learned, etc...

Nothing. Complete radio silence for what has now been two months.

I considered a qui tam action, but as I understand it, you actually have to make a recovery, or the government has to make a recovery of the funds before you get paid, and honestly I expect this $1 million is long gone.

What does that leave? The FBI? The US Attorney's office? I suppose. I'm tempted just to let it go, at this point. The only thing that I wonder about, however, is whether this guy made a bunch of applications in a bunch of different business names, because in my digging I found some other "businesses" that he supposedly has connection to. I wasn't able to find any specific PPP loans in those businesses' names, however, loans to companies of less than $150,000 did not include the recipient's name, so if they were smaller loans I couldn't have learned about it.

My advice is maintain your anonymity on the non-zero chance it is connected. You could tie up all your research in a bundle and mail it to the FBI and forget it. If they act on it you have done what you could. If they don't you have avoided the potential blowback of having stumbled onto an insider con which the perps might go to extensive lengths to protect, including coming after your reputation or freedom.

There is also the possibility that the actions triggered by your initial reporting will never involve you. You may have already started wheels turning which you will never observe.

But be safe. Laws are only skin deep, while corruption goes all the way to the bone of coercion. Protect yourself from whoever.

 

[dxmnkd316]

I know this seems insane, but a Manila envelope to the local media isn’t the craziest thing if you want to maintain some semblance of anonymity.

 

[Kepler]

Reaganomics worked exactly as designed.

New research published Monday found that the top 1% of U.S. income earners have taken $50 trillion from the bottom 90% over the past several decades, and that the median worker salary would be around twice as high today as it was in 1945 if pay had kept pace with economic output over that period.

 

[mookie1995]

So here is a question that I have for the group. Basically, if you were in my position, what would you do?

In very early July I uncovered what I believe to be fraud committed against the Paycheck Protection Program (PPP). Basically, I believe that someone obtained a loan for about $1 million for a business that does not exist, except in name only.

The way that I stumbled across it is that I was reviewing the Excel spreadsheet published by the Treasury department containing a list of the loans and I came across a loan given to a "business" located at an address that I happened to be very familiar with (it's owned by a customer of mine). I knew that the business listed in the loan documents had never been located in that location, and with some digging into real estate and business records it became pretty clear to me that someone had simply formed a corporation, searched online for commercial spaces available for lease, and used that as the supposed location of the business.

Once I became convinced that a fraud had occurred, I reported it. I called the Office of Inspector General for the SBA. They have a hotline for reporting fraud, which isn't all that "hot" since they don't answer, just ask you to leave a message, which I did.

I also submitted a fraud report online, which they let you do, outlining what I discovered, telling them I had lots of documents to support what I learned, etc...

Nothing. Complete radio silence for what has now been two months.

I considered a qui tam action, but as I understand it, you actually have to make a recovery, or the government has to make a recovery of the funds before you get paid, and honestly I expect this $1 million is long gone.

What does that leave? The FBI? The US Attorney's office? I suppose. I'm tempted just to let it go, at this point. The only thing that I wonder about, however, is whether this guy made a bunch of applications in a bunch of different business names, because in my digging I found some other "businesses" that he supposedly has connection to. I wasn't able to find any specific PPP loans in those businesses' names, however, loans to companies of less than $150,000 did not include the recipient's name, so if they were smaller loans I couldn't have learned about it.

See if he local tv news is interested? Email the hot Asian reporter looking to move up to network!!