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

[Handyman]

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

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Three publicly traded hotel firms say they won't give back PPP money <a href="https://t.co/1TciszKar9">https://t.co/1TciszKar9</a> <a href="https://t.co/6H6luj2hdL">pic.twitter.com/6H6luj2hdL</a></p>— The Hill (@thehill) <a href="https://twitter.com/thehill/status/1254648998511681536?ref_src=twsrc%5Etfw">April 27, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[MinnesotaNorthStar]

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

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Three publicly traded hotel firms say they won't give back PPP money <a href="https://t.co/1TciszKar9">https://t.co/1TciszKar9</a> <a href="https://t.co/6H6luj2hdL">pic.twitter.com/6H6luj2hdL</a></p>— The Hill (@thehill) <a href="https://twitter.com/thehill/status/1254648998511681536?ref_src=twsrc%5Etfw">April 27, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Ashford, Inc has 117 hotels and already furloughed 95% of it's 7000 employees

How is this not fraud?

 

[Deutsche Gopher Fan]

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

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Blame the Democrats for any “lateness” in your Enhanced Unemployment Insurance. I wanted the money to be paid directly, they insisted it be paid by states for distribution. I told them this would happen, especially with many states which have old computers.</p>— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1254747293414305792?ref_src=twsrc%5Etfw">April 27, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[rufus]

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

Ashford, Inc has 117 hotels and already furloughed 95% of it's 7000 employees

How is this not fraud?

When it was the intended plan of the program?

 

[St. Clown]

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

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Blame the Democrats for any “lateness” in your Enhanced Unemployment Insurance. I wanted the money to be paid directly, they insisted it be paid by states for distribution. I told them this would happen, especially with many states which have old computers.</p>— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1254747293414305792?ref_src=twsrc%5Etfw">April 27, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Until 5 years ago, the FRB was operating its MQ systems on computers built in 1984 or earlier. I was on the call when they said as much. They’re still using the crappy proprietary message layouts from back then, too.

 

[dxmnkd316]

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

This is getting more weird at work.

So they furloughed a bunch of people for two weeks with pay. I wasn't in that group. But I will likely be included in the group that gets paid furlough for a week which hasn't been scheduled yet beyond "it will be in Q2".

So essentially, I had to take 1.5 weeks of my vacation by June 30th. Luckily, I already had four days used for the wedding. But in return, I'm getting a week of paid furlough/vacation where I cannot work under any circumstances (check, by the way ). So yay?

 

[The Rube]

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

This is getting more weird at work.

So they furloughed a bunch of people for two weeks with pay. I wasn't in that group. But I will likely be included in the group that gets paid furlough for a week which hasn't been scheduled yet beyond "it will be in Q2".

So essentially, I had to take 1.5 weeks of my vacation by June 30th. Luckily, I already had four days used for the wedding. But in return, I'm getting a week of paid furlough/vacation where I cannot work under any circumstances (check, by the way ). So yay?

I would say if the end result is you still having a job, I'd be okay with it. My work is still contemplating taking volunteers for a 4 day work week, of sorts. Each weekday, x amount of volunteers would have a non-paid day off. I'm in a unique position, since my co-worker is on a personal leave of absence, and there are only 3 others that can perform my job (and 2 of those are my bosses, which limits their availability due to other responsibilities).

I've been through this route before, with that last recession a few years back. Thankfully, no one was laid off due to this course of action. I have a feeling this time the situation is a bit more severe, but I have hope everyone at my branch will be okay. My work actually cares, compared to some other companies out there. I'm very thankful for that.

 

[Handyman]

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

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">The Lakers have returned approximately $4.6 million that they received from a federal government program.<br><br>The program was intended to help small businesses weather the economic burden caused by the coronavirus pandemic.<a href="https://t.co/iPePuma58u">https://t.co/iPePuma58u</a></p>— SportsCenter (@SportsCenter) <a href="https://twitter.com/SportsCenter/status/1254804420946264067?ref_src=twsrc%5Etfw">April 27, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[rufus]

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

Jesus Christ, this entire program is criminal.

People need to go to jail for this.

 

[Handyman]

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

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">NEW: The $175 billion fund meant for health care providers treating coronavirus could be a windfall for big hospital chains instead. One person familiar with discussions among <a href="https://twitter.com/HHSGov?ref_src=twsrc%5Etfw">@HHSGov</a> staffers told <a href="https://twitter.com/Newsweek?ref_src=twsrc%5Etfw">@Newsweek</a>: "Yeah, it's going to be a cluster****." <a href="https://t.co/eeUp5R8pLD">https://t.co/eeUp5R8pLD</a></p>— Andrew Feinberg (@AndrewFeinberg) <a href="https://twitter.com/AndrewFeinberg/status/1254828461153271810?ref_src=twsrc%5Etfw">April 27, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[ScoobyDoo]

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

I see the Republican Economy is working as intended.

 

[The Rube]

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

Jesus Christ, this entire program is criminal.

People need to go to jail for this.

All these returns...I'm guessing the worker in chargeof such things applied for the loan, someone higher up found out about it, and said, "Nah, dog. That's bullsh*," and returned the money.

Well, okay, if push comes to shove, that's what I want to believe.

 

[MinnesotaNorthStar]

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

All these returns...I'm guessing the worker in chargeof such things applied for the loan, someone higher up found out about it, and said, "Nah, dog. That's bullsh*," and returned the money.

Well, okay, if push comes to shove, that's what I want to believe.

No, these decisions aren't made by low level employees. They're returning the money because of bad PR and public backlash...no other reason.

 

[Kepler]

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

All these returns...I'm guessing the worker in chargeof such things applied for the loan, someone higher up found out about it, and said, "Nah, dog. That's bullsh*," and returned the money.

Well, okay, if push comes to shove, that's what I want to believe.

I hope so too. I don't think the recipients are the criminals. DumpCo set it up as a slush fund for themselves and their buddies, but it was overbroad, and honest people return stolen money.

Short of Romanoving the Dump family I don't see us ever getting back the billions they have stolen.

 

[The Rube]

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

No, these decisions aren't made by low level employees. They're returning the money because of bad PR and public backlash...no other reason.

They don't have to be low-level. They want to move up even more, and this was a way of saying, "Hey, look at what I got our company!" And then the smarter people higher up than them told them they were idiots, because of the blowback it would bring.

 

[ScoobyDoo]

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

They don't have to be low-level. They want to move up even more, and this was a way of saying, "Hey, look at what I got our company!" And then the smarter people higher up than them told them they were idiots, because of the blowback it would bring.

rotflmao.

 

[rufus]

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

They don't have to be low-level. They want to move up even more, and this was a way of saying, "Hey, look at what I got our company!" And then the smarter people higher up than them told them they were idiots, because of the blowback it would bring.

your innocence is so precious.

 

[Handyman]

They don't have to be low-level. They want to move up even more, and this was a way of saying, "Hey, look at what I got our company!" And then the smarter people higher up than them told them they were idiots, because of the blowback it would bring.

Nope it is often the attorneys and accountants who do it for the company and it is known. A lot of the big banks gave them the heads up and they ran with it. JPMorgan Chase is being sued over it.

They all wanted it and assumed no one would notice. When the fund went broke it was thrust into the forefront and the backlash killed.

This is corporate greed from the top down. You and Kepler are being naive.

 

[aparch]

Nope it is often the attorneys and accountants who do it for the company and it is known. A lot of the big banks gave them the heads up and they ran with it. JPMorgan Chase is being sued over it.

They all wanted it and assumed no one would notice. When the fund went broke it was thrust into the forefront and the backlash killed.

This is corporate greed from the top down. You and Kepler are being naive.

This.

All of this.

CNBC pointed out one large corp with thousands of employees who had almost 100 million of the small business protection loans used multiple tax ID codes to pretend to be multiple small companies.

Unfortunately, because of the lack of federal guidance, these moves, despite being meant for small businesses, did not have anyone overseeing enforcement of it *until* the PR blowback.


And anyone who thinks that big corps who are announcing they're giving it back are genuinely like Opie from the Andy Griffith show and went "Awww, gee, shucks, I promise to pay it back!" on their own volition needs to get their fu**ing head checked.

This was the rats scurrying in the kitchen in Ratatouille once the light shined on them stealing food.

 

[Kepler]

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

your innocence is so precious.

I don't think Rube's being innocent here and you know how I feel about business and management. He's not saying the execs return the money out of the goodness of their heart. He's saying it's the equivalent of opening your bank statement and seeing that your $3,000 paycheck is instead $3,000,000. Even if you have a larcenous soul and you hate your company you do not spend that money because you know someday, very soon, you will go to jail.

Corporations are insanely risk-averse. In my industry at least they don't do anything that can be perceived as dishonest because they live in terror of the front page of WaPo. I assume all Fortune 500s are like this.

Remember: they don't have to cheat. The fix is in: they own the government. You never steal illegally if you can steal legally. "Give a man a gun he can rob a bank; give man a bank he can rob the world."