Posted on 12/07/2016 1:17:49 PM PST by springwater13
U.S. President-elect Donald Trump plans to nominate professional wrestling magnate and former Senate candidate Linda McMahon as his choice to head the Small Business Administration, transition officials told Reuters on Wednesday.
The announcement was expected later on Wednesday.
McMahon, 68, is a co-founder and former CEO of the professional wrestling franchise WWE, which is based in Stamford, Connecticut. She ran unsuccessfully for a U.S. Senate seat in Connecticut in 2010. She was an early supporter of Trump's presidential campaign.
The SBA, which has at least one office in every U.S. state, provides support to small businesses such as extending loans and making sure they get a percentage of federal contracts.
Trump's announcement, a copy of which was seen by Reuters, said McMahon would be a key player in his effort to generate stronger job growth and roll back federal regulations. He said she had helped the WWE grow from a 13-person operation to a publicly traded global enterprise with more than 800 employees worldwide. Donald Trump is a WWE Hall of Fame member.
(Excerpt) Read more at businessinsider.com ...
Preposterous!
Is that Linda McMahon?
I’m 72 and feel like 40...what’s the problem???
Other people sleep at night... Trump waits.
Would you prefer Millennial snowflakes?
I think the SBA will be part of Trump’s plan to rebuild the inner cities.
I like the way she handles the media...
‘There shouldn’t even be a US small business administration.’
I agree with that. I think it’s just another gov’t lending program, something which eventually leads to bailouts.
Uhuh - it seems buzzwords, bullshyte, trophies for participating, ribbons for “trying”, and having weekly meetings full of Alphafem Poodle Herders with Titles - aren’t quite getting it done.
>>some adults are going to now have to clean it up.
You ever notice they especially seem to get irritated (I guess the NewSpeak is "triggered" now) if you use the word “Salvage” to describe that process?
I hope it will be exploited to the max to rebuild our urban areas.
The SBA does not lend money! See post 99 above.
Hi, All:
I’ve worked at the SBA for just over 6 years as a full time federal employee. I’ll write more in a bit, a LOT more, but trust me when I tell you that the SBA is like virtually ALL federal agencies; we take gigantic piles of taxpayer money and we shovel those piles into flaming pits all day every day, we waste money on a scale that the human mind can scarcely grasp, (maybe not as much as the far larger agencies) and yes, our very existence is unconstitutional and we are a jobs program for illiterate DC residents.
Hair-curling stories coming your way very soon!
What’s the problem? They have experience and are loyal. They get Trump. The McMahon’s have been friends with Donald for decades.
No, the SBA does not make BUSINESS loans (more on the loans that they do make later), they GUARANTEE business loans to people who WOULD NOT GET THE LOAN OTHERWISE... Now why would a bank not lend to Joe Smith without the SBA backing the loan? if you guessed “Because Joe IS creditworthy,” go to the back of the line. If you guessed “Because Joe is NOT creditworthy,” you get the prize.
Now guess what our default rate is vs. regular bank loan default rates? Bell rings in you guess SIGNIFICANLY HIGHER.
Now, who pays when an SBA loan goes bust?
If you guess TAXPAYERS, then my job here is done.
How do you explain these:
sba.gov: "The SBA does not invest directly in small businesses"
Forbes: "... the SBA itself doesn’t loan out any money."
Entrepreneur: "The SBA does not lend money itself, ."
Didn’t I JUST cover that? Didn’t I just say “... the SBA does not make business loans...” Yes, it is true, as I just said in my previous post, that we do not make business loans. We GUARANTEE business loans to people who should not get them, and when they go bust, YOU pay for it.
How much more clear can I be?
ROTF!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.