Posted on 04/22/2020 7:06:29 PM PDT by BurgessKoch
Jamie Black-Lewis felt like she won the lottery after getting two forgivable loans through the Paycheck Protection Program.
Black-Lewis saw the $177,000 and $43,800 loans, one for each of the spas she owns in Washington state, as a lifeline she could use for payroll and other business expenses.
She’d halted pay for the 35 employees — including herself — at Oasis Medspa & Salon, in Woodinville, and Amai Day Spa, in Bothell, in mid-March, when nonessential businesses in Washington closed due to the coronavirus pandemic.
When Black-Lewis convened a virtual employee meeting to explain her good fortune, she expected jubilation and relief that paychecks would resume in full even though the staff — primarily hourly employees — couldn’t work.
She got a different reaction.
“It was a firestorm of hatred about the situation,” Black-Lewis said.
The animosity is an unintended consequence of the $2.2 trillion coronavirus relief package enacted last month.
The law, the CARES Act, offered $349 billion in loans for small businesses struggling as a result of Covid-19. Banks, backstopped by the federal government, can fully forgive the loans under certain conditions.
Among them, the bulk of funds must go toward payroll, salaries must remain intact and employee head count must not decrease. Businesses have until June 30 to rehire laid-off or furloughed workers.
Black-Lewis was trying to meet these rules, especially after her bank reiterated she must continue to pay workers for loan forgiveness.
The anger came from employees who’d determined they’d make more money by collecting unemployment benefits than their normal paychecks.
(Excerpt) Read more at cnbc.com ...
BS. The you don't believe in the basic theory of supply and demand. You are being an idiot.
It's been a long time coming... and it's going to be a bigger KICK in the A$$ than anyone expected or realized!
The woman who heads the Maine Department of Labor said just that....if employees refuse to return to work they will lose their unemployment benefits.
Jeebuz, my spelling is atrocious tonight.
>>>Obama care passed in ‘09 right after his coronation. The nation wide lay-offs started then.
Fake news. The Patient Protection and Affordable Care Act, also the Affordable Care Act (ACA) or colloquially known as Obamacare, is a United States federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010.
“they’d make more money by collecting unemployment benefits’
I’ll put on my shocked face.
I can’t believe it, but I do!!!
Weigh in with one of your crackpot theories as to how supply and demand means wages can be raised to any level.
If I hire a telemarketer to replace a bookkeeper I have the same headcount. If I hire someone to upgrade my computers and have one less office worker I have the same headcount, if I hire a marketing person to prepare a marketing plan to replace an accountant I have the same headcount.
Do NOT give any of your Roll Blue crap.
M Piss Losley said in '09 that we had to pass it to see what was in it.
Go away ROLCON Troll.
I think they go 39 weeks which would be more like October/November.
If 3 business offer a service but can’t make a profit using US labor then one goes out of business. Then the other 2 can supply the service using US labor. Get it. Or are you still befuddled?
But the loans are forgivable, so they will forgive her.
Proof of the age old line “No good deed goes unpunished”.
It was an extra $600.00.
I think the poster was referring to the expanded UE, that has a $600/ wk kicker.
Only under specific circumstances as it relates to wages, rent/lease utilities.
WOW!!!
So if someone was getting paid 500 a week (these aren’t top line jobs, many of them) then they are getting 850 a week now.
I’d HATE my boss if he kept me on the payroll at a job like that :)
And especially if it’s a job and not a career.
So much waste in that bill.
Re:14 - Agreed, 100%.
This is really a study in character. Please use it to determine who your topline employees are - and do what you can to retain them.
I could understand if people were afraid to return because of COVID-19. But it sounds though, as more and more of these sorts of stories come out, that some people are just gaming the system.
Wow, just WOW, my head is blown away!
>>>M Piss Losley said in ‘09 that we had to pass it to see what was in it.
I know facts are hard but Google is easy. Pelosi made that statement when she was speaking at the National Association of Counties’ annual Legislative Conference on 9 March 2010.
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