Posted on 04/24/2020 8:04:36 PM PDT by ameribbean expat
The $3 billion firm, which is publicly held, had 26,000 employees in 18 states before the pandemic. AutoNation used separate tax identification numbers assigned to dozens of its more than 300 locations to apply for at least $266 million in funds for separate dealerships, including Jaguar and Land Rover of Bethesda, Porsche Orlando and Lexus of Cerritos, outside Los Angeles, according to the documents.
(Excerpt) Read more at washingtonpost.com ...
Except maybe if he’s an illegal plumber in California then Gabby Nuisance can help.
Small businesses don’t have the resources to hire lawyers to get the loans.
As always, billions of our money are passed out with absolutely no oversight or accounting to ensure that they go to small businesses or small franchisees.
That is because the Dems are “overseeing” the distribution. Loathe them.
I noticed they cherry-pick the luxury car dealers. How many sales do they really get, what is their break even point? How are they structured? Each dealer may be part of a network but not necessarily have access to capital. Should McDonalds franchises be eligible?
Treasury gives big public companies until May 7 to return loans meant for small businesses
You need an accountant, not a lawyer
The business was required to certify it was not part of a larger group of interrelated business interests. To put it bluntly, the lied, and committed fraud, to obtain these loans. Hope the government goes after them.
Those who need it most never get it. This is always blamed on ......Republicans.
This is criminal. The money is intended for SMALL businesses.
Someone should check this company to see what they gave in the way of political contributions. I wonder if there might be a connection with loans being given to friends of politicians.
Eff the US government. Feeding We the People to the wolves at every turn. Start with civil disobedience and then onto BOOOOOOGALOOOOO
Small business my a##, been waiting for over a month now for both the PPP and the SNB loans, go on line to check progress cant be done, no info no nothing. Coming to a head where we will defy this friggin order and the fighting begins
They qualified small business as 500 employees or less. My 2 person company that contracts out everything can’t compete with a 500 person company.
This is, another, case of lawyers doing their job and lawmakers not.
Treasury has given publicly traded companies until May 7 to cough it up.
I hope all of AutoNation future would-be customers move their business to some competitor.
The auto industry is way over leveraged with millions of units out on lease plans that were unrealistic from the get-go. Almost every lease is upside down if it goes more that three yeaars and you have some sold on cheap payments—but for years beyond a potential resale value.
Yeah, I’m guessing most big franchised businesses got away with this.
No money for mom-and-pop Small Businesses.
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