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Big Businesses Sucked Up Initial PPP Funding, But More Is in the Works

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  • Reports show that publicly traded companies received $243.4 million of the total $349 billion of funding in the Paycheck Protection Program, which was designed for small businesses struggling as a result of the coronavirus.
  • Some chain restaurants were also able to get their hands on as much as $20 million while mom and pop shops across the country were left with nothing during the first round of funding distribution.
  • The Senate has approved a second round of PPP funding, with some specifically set aside for community vendors. The House is expected to vote on the funds Thursday.

Big Businesses Get Big Bucks

New reports indicate that public companies received $243.4 million of the total $349 billion in federal funding meant to go to small businesses struggling as a result of the coronavirus. 

The figures come from CNBC’s analysis of research from Morgan Stanley. In the report, CNBC compiled the biggest public companies receiving and accepting money from the Paycheck Protection Program. While the program was designed for small businesses to get funding, many were actually left empty-handed when funding went dry in under two weeks. 

Still, bigger businesses ended up getting a decent share. The biggest company on CNBC’s list was DMC Global, which has a market cap of $405 million and received $6.7 million from the PPP loan. Several other companies with market caps over 200 million also received funding. 

While not on CNBC’s list, two of the companies who ended up with the most money were restaurant chains Ruth’s Chris and Fogo De Chao, both of which took home $20 million. According to the Wall Street Journal, PPP loans were generally capped at $10 million, but Ruth’s Hospitality Group, which owns Ruth’s Chris Steakhouse was able to qualify for $20 million by seeking separate loans for each of its two subsidiaries. Fogo De Chao used the same strategy. 

Frustrations With PPP Funding

Consumers are not pleased with big companies taking money from a fund that could be helping mom and pop shops in higher need. There is a petition on Change.org with over 220,000 signatures demanding that Ruth’s Chris return its $20 million.

“Many small businesses are now being told there is no money left for them, and they cannot pay their employees, and may have to close forever,” the petition says. “This is a travesty, and a disgusting display of corporate greed during a time of disaster.”

Consumers are not alone with their frustrations. Rep. Nydia Velázquez (D-NY), the House Small Business Committee Chairwoman, said that the PPP needs more “transparency and safeguards” so small businesses are protected.

New Wave of PPP Funding

More funding for small businesses is in the works. On Tuesday, the Senate passed a $484 billion interim coronavirus funding bill. $310 billion of this is set to replenish the PPP, and $60 billion of that is going to small lenders and community banks.

Another $75 billion is going to hospitals, and $25 billion is going to testing expansions. There will also be $60 billion set aside for emergency disaster loan grants that will help communities in underserved areas. The House is expected to vote on the bill on Thursday. 

The biggest concern small business owners have about this second wave of funding is the possibility of it running out just as quickly as the first round. According to Forbes, that is a strong possibility. 

During the first wave of funding, 1.6 million applicants were approved. The Treasury Department said that the Small Business Association “processed more than 14 years’ worth of loans in less than 14 days.”

It is unclear how many businesses applied or attempted to apply, but it can be assumed that many more are going to try. Forbes says that there are roughly 30 million small businesses in the country and they employ close to half of the country’s workforce. 

See what others are saying: (NPR) (GQ) (The Hill)

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NJ Woman Charged for Assaulting Staples Customer Who Asked Her to Correctly Wear a Mask

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  • New Jersey Police have charged 25-year-old Terri Thomas with second-degree aggravated assault for violently tossing a woman with a cane to the ground at a Staples store last Wednesday.
  • Thomas attacked 54-year-old Margot Kagan for telling her to wear her face mask properly.
  • Kagan, who police say had a liver transplant four months ago, was hospitalized and is recovering from a leg injury that required surgery as a result of the incident. 

The Incident

Police in New Jersey said Tuesday that they arrested and charged a woman caught on surveillance video attacking a fellow Staples customer who told her to correctly wear her mask. 

The dispute happened inside a Hackensack Staples store last Wednesday when 54-year-old Margot Kagan was using the copy machine. Kagan, who police said had a liver transplant four months ago, noticed 25-year-old Terri Thomas walk by with her mask below her mouth. 

Kagan told a local news station that she told Thomas, “You should really put a mask on,” and warned her that she was endangering everyone. However, the remarks made Thomas angry she reportedly began yelling.

The surveillance footage shows Thomas walking towards Kagan, who lifts her cane to keep Thomas away. Thomas then reaches for the cane and violently tosses Kagan to the ground.

Thomas walks out of view for a few seconds and when she returns, Kagan sticks her leg out to trip Thomas, but Thomas ultimately walks away unharmed and leaves the store. 

Injuries and Charges 

Kagan was hospitalized after the attack and police said she left with a fractured left tibia that required surgery. However, Kagan later told ABC 7 she suffered a broken knee and required a steel plate to be put in. She also claims she’s been told by doctors that she won’t be able to put weight on her leg for seven to 10 weeks. 

As far as Thomas, police have charged her with second-degree aggravated assault and she was released on a summons pending a court appearance on August 24. In New Jersey, the charge is punishable by 5-10 years in jail, and fines as high as $150,000.

Hackensack police are encouraging anyone who witnessed the crime or have any information to reach out to them. 

See what others are saying: (ABC7) (NJ.com) (NBC News)

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Aurora Police Apologize for Drawing Weapons on Black Family in Mistaken Stop

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  • Police drew guns on a Black family in Aurora, Colorado on Sunday who they believed were in a stolen vehicle, ordering the group out of the car and facedown down on the ground. 
  • The passengers were girls between the ages of 6 and 17 and video shows them sobbing in fear during the incident, with at least two minors in handcuffs. 
  • The adult female driver was able to confirm that the car was not stolen and police explained that the car had the same plate information as a car reported stolen in a different state. They also blamed the mixup on the fact that the family’s car was reported stolen earlier this year, even though Aurora police returned it back to them a day later. 
  • The city’s new police chief apologized and offered them therapy resources. She also said officers followed protocol but should be allowed to use discretion to deviate in situations like this and has ordered her team to look at new training practices.

What Happened? 

Police in Aurora, Colorado apologized Monday for drawing weapons on a Black family after mistaking their car for another stolen vehicle. 

On Sunday, August 2, Brittney Gilliam decided to take her 6-year-old daughter, 12-year-old sister, and 14 and 17-year-old nieces out to get their nails done. Gilliam told CNN that her niece had just gotten back in the car after looking to see if the nail salon they wanted to go to was open. At this point, she and the girls were parked in a parking lot with the car turned off.

That’s when Aurora police pulled up behind the vehicle with guns drawn. Then, police allegedly yelled at the group to put their hands out of the window and get out of the car.

She said the family exited the vehicle and were told to lay face down on the ground. At that time, police handcuffed Gilliam, her 12-year-old sister, and 17-year-old niece. Gilliam claims that police would not explain why she was pulled over until she was handcuffed. Then, they pulled her away to verify her claim that the car was not stolen as the children remained on the ground. 

A bystander named Jennifer Wurtz began recorded the incident after the family was handcuffed. The footage is about 12 and a half minutes long, but a shorter minute in a half-second clip went viral on Twitter. That clip shows the minors facedown on the floor sobbing as police try to keep onlookers away.

Eventually, police sit the children up and in the longer video, Wurtz can be heard pressing the officers about why they had drawn guns on children. 

Police repeatedly asked her to stop interfering, however, they did say she had the right to film. Wurtz stopped pointing the phone towards the scene, but continued to criticize the stop and asked for the officers’ names.

As frustration from onlookers grew, one officer explained that this was a “high-risk stop” and that police were following procedure.

The onlookers were still angry about the policy being used against children and became angrier after learning that the car was in fact, not stolen. 

What Caused the Confusion? 

As far as what the mixup actually was, Gilliam explained that she had reported her car stolen in February, but that case was cleared up. In fact, her attorney told CNN that when her vehicle was stolen, it was actually returned to her the next day by Aurora police. 

In a statement late Monday, Intern Chief of Police Vanessa Wilson said that after the stop, police realized the car Gilliam was driving was not stolen. Instead, another vehicle with the same plate information but from a different state had been. The Associated Press reported that the vehicle was a motorcycle from Montana. 

In her statement, Wilson said “The confusion may have been due, in part, to the fact that the stopped car was reported stolen. After realizing the mistake, officers immediately unhandcuffed everyone involved, explained what happened and apologized.”

“I have called (Gilliam’s) family to apologize and to offer any help we can provide, especially for the children who may have been traumatized by yesterday’s events,” she continued. “I have reached out to our victim advocates so we can offer age-appropriate therapy that the city will cover.”

Outrage and Apology 

Still, that did little to put the community at ease, especially since the incident comes amid widespread frustration over how Black people are treated by police. Frustrations are especially high in Aurora, where police have faced security for the 2019 death of Elijah McClain. McClain was an unarmed Black man who was stopped by officers as he walked home after he was reported as a suspicious person in a ski mask. 

During the confrontation, officers placed him in a chokehold and paramedics injected him with ketamine to sedate him. He then suffered a heart attack in the ambulance and was declared brain dead days later before being taken off life support. 

Just last month, two officers were fired for reenacting the chokehold in a photo near the memorial site for Elijah McClain A third officer was fired for not alerting supervisors about the photo while a fourth resigned before a disciplinary hearing about the incident. 

So this latest incident piled on the existing outrage against the local department and police policies in general. And many, including Gilliam, felt that the stolen car mixup did not justify how the young girls were treated. 

“That’s police brutality,” she told KUSA. “There’s no excuse why you didn’t handle it a different type of way. … You could have even told them, ‘Step off to the side let me ask your mom or your auntie a few questions so we can get this cleared up.’ ”

In her statement, Chief Wilson confirmed that a suspect in a stolen vehicle is a high-risk stop, and said officers followed procedures they are trained to carry out. However, she added that the department, “must allow our officers to have discretion and to deviate from this process when different scenarios present themselves.”

Wilson added that an internal investigation into this incident has been opened and said she had directed her team to look at new practices and training. Her promises to reexamine department practices are especially significant because that same Monday night, Aurora’s city council voted to make Wilson the city’s permanent police chief. 

See what others are saying: (Denver Post) (CNN) (Sentinel Colorado)

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260 Campers and Staffers at Georgia Summer Camp Tested COVID-19 Positive

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  • In Georgia, 260 people at a summer camp tested positive for the coronavirus in June, per a report from the CDC. 
  • In total, 597 Georgia residents were at the camp, meaning there was at least a 44% attack rate. 
  • Campers, as well as a good portion of the staff, were 17 and under. The vast majority of those who tested positive were aged 17 or under, contradicting the narrative that kids are less likely to get and spread COVID-19. 
  • Officials believe a variety of factors contributed to this outbreak, including campers not being required to wear masks, being lodged in close quarters, engaging in indoor activities, and participating in daily singing and cheering that likely promoted disease spread.

Campers Test Positive

In Georgia, 260 campers and staffers at an overnight summer camp tested positive for the coronavirus in June, according to a recently released report from the Centers for Disease Control and Prevention.

This data contradicts the narrative that children are less likely to fall ill with and spread COVID-19, which many are relying on in the push to open schools back up in the fall. According to the CDC, 597 Georgia residents were at the camp, meaning the camp had a 44% attack rate. That rate is likely even higher, as test results from just 58% of those at the camp were available.

While the CDC referred to the camp just as “Camp A,” many reports have since identified the camp as YMCA Camp High Harbour, which closed following the outbreak. The median age of campers there is 12, while the median age for staffers is 17. According to NBC News, 231 of those 260 people who tested positive were aged 17 or under.

The outbreak started when a teenage staff member left the camp after developing chills. The next day, that staff member tested positive for the coronavirus. The camp then began sending kids home until it was fully shut down three days later. It was recommended that everyone get tested for the virus and isolate if positive. 

How Did the Outbreak Spread?

Officials believe that while the camp followed a good chunk of the CDC’s suggested safety guidelines, the size of the outbreak might be tied to the fact that the camp neglected to implement a few key rules. For example, while staff at the camp were required to wear masks, the roughly 360 campers were not. The camp also did not utilize ventilation protocols, like keeping windows and doors open to allow air to circulate. Activities took place both indoors and outdoors, including “daily vigorous singing and cheering” which could have promoted disease spread. 

“The multiple measures adopted by the camp were not sufficient to prevent an outbreak in the context of substantial community transmission,” the CDC said in their report. “Relatively large cohorts sleeping in the same cabin and engaging in regular singing and cheering likely contributed to transmission.”

The CDC also believes that asymptomatic spread was common and factored into the high case rate. The organization also believes that it is possible that some of the cases could have been tied to outbreaks outside of the camp given the spikes the state of Georgia saw throughout June and July. 

The biggest takeaway from this outbreak, though, is the way that the disease spread among young people. It has commonly been believed that children are not as susceptible to the virus as adults; however, as officials receive new data, that belief is being questioned. 

“This investigation adds to the body of evidence demonstrating that children of all ages are susceptible to SARS-CoV-2 infection and, contrary to early reports, might play an important role in transmission,” the CDC wrote. 

Questions of School Safety

This case is adding to concerns that there could be severe outbreaks when schools open up in the fall. 

“We are not ready to have full in-person contact consisting of hundreds of students, faculty and staff with the expectation that no one spread or contracts COVID-19,” Dooly County Schools Superintendent Craig Lockhart told the Atlanta Journal-Constitution. “We are not ready to return to in-person schooling and be highly confident that we can protect employees and students.”

Georgia in particular has seen rapid case spikes throughout the state. The safety of schools was further called into question on Monday when it was reported that 260 employees from Gwinnett County School District, the largest school district in the state, either tested positive or were exposed to the coronavirus. They are currently being excluded from work as a result.

It is unclear if these events will change the way the state handles its school reopening strategies or if new policies will be implemented as a result of them.

See what others are saying: (NBC News) (Atlanta Journal-Constitution) (Washington Post)

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