The pizza chain where a kid can be a kid is now looking to destroy 7 billion of its famous prize tickets after filing for bankruptcy this past summer due to the steep drop in business during the COVID-19 pandemic.
According to the <a href="https://nypost.com/2020/09/16/chuck-e-cheese-wants-to-destroy-7-billion-prize-tickets-amid-bankruptcy/">New York Post</a>, Chuck E. Cheese parent-company CEC Entertainment said in a court filing on Monday that the heavy supply of prize tickets are no longer needed. The tickets are valued at $9 million—$0.0013 per ticket.
<blockquote>The industry’s “rapid move toward contactless service” amid the COVID-19 pandemic accelerated CEC’s efforts to phase out the paper tickets, along with the “muncher” machines that count them, in favor of electronic tickets, the company said.
But CEC had placed orders for tickets based on how many it had needed before the virus hit, causing “enough tickets to fill approximately 65 40-foot cargo shipping containers” to build up in the supply chain, according to the filing.
CEC asked a Texas bankruptcy court to approve settlements allowing three of its vendors to scrap the excess tickets at a cost of about $2.3 million, roughly $1 million less than the cost of circulating them.
The company also got assurances through its negotiations with vendors that the tickets would not be circulated to the general public, according to the court filing.</blockquote>
In the court filing, James A. Howell, CEC’s chief financial officer, said that the company had to ensure the tickets did not circulate in the general public due to their high value of redemption.
“Since prize tickets are redeemable by guests at significantly higher value than the cost of prize tickets, the debtors instead need to arrange for the destruction of the remaining stock of prize tickets in the supply chain to mitigate any risk of these tickets being circulated to the general public,” Howell said.
Three months after the government shut down the U.S. economy due to the COVID-19 pandemic, the pizza and arcade franchise Chuck E. Cheese filed for bankruptcy to offset the massive losses it incurred. According to <a href="https://www.newsweek.com/after-news-bankruptcy-whats-next-chuck-e-cheese-1511249">Newsweek</a>, the franchise accrued nearly $1 billion in debt with 527 locations in 47 states.
“Founded in 1977, the kids party playhouse has suffered in recent years and the Coronavirus pandemic has really put a strain on their finances,” the outlet reported. “The company apparently tried to <a href="https://www.foodandwine.com/news/local-restaurant-on-delivery-app-actually-chuck-e-cheese-pasquallys" target="_blank" rel="nofollow noopener noreferrer">sell pizzas under the bogus name</a> of ‘Pasqually’s’ on Grubhub and Seamless in some regions, but that probably won’t save the entire enterprise.”
Should Chuck E. Cheese flounder, it will be the second major business to go under due to the sweeping COVID-19 restrictions that have rendered buffets, arcades, and playgrounds literally untouchable. In May of this year, the popular buffet chain Souplantation, known as Sweet Tomatoes outside of Southern California, <a href="https://www.dailywire.com/news/popular-buffet-chain-souplantation-sweet-tomatoes-closes-permanently-due-to-covid-19">regretfully announced</a> it will be closing all locations permanently due to the pandemic.
Following Souplantation’s unfortunate announcement, fast-food chain Steak N Shake <a href="https://www.dailywire.com/news/fast-food-chain-steak-n-shake-closes-10-of-locations-permanently-due-to-shutdowns">announced</a> it would be closing 10% of its locations due to the shutdowns.
In March, the National Restaurant Association <a href="https://www.dailywire.com/news/national-restaurant-association-11-of-restaurants-could-be-lost-in-pandemic">predicted that 11%</a> of restaurants could be closing permanently. Hudson Riehle, the Association’s senior vice president of research, said the data shows the industry is in “uncharted territory.”
RELATED: <a href="https://www.dailywire.com/news/dunkin-will-permanently-close-450-stores">Dunkin’ Will Permanently Close 450 Stores</a>
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Chuck E Cheese entrance. Chuck E. Cheese&#8217;s is a chain of

Bankrupt Chuck E. Cheese Looks To Destroy 7 Billion Prize Tickets

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On Friday afternoon, the city council in the small town of Atwater, California defied California Governor Gavin Newsom’s stay-at-home order and voted to declare itself a “sanctuary city” for businesses. The city council <a href="https://www.atwater.org/wp-content/uploads/2020/05/May-15-2020-Special-Meeting-Notice-1.pdf">stated</a> that its move &#8220;affirms the city&#8217;s commitment to fundamental constitutional rights,&#8221; <a href="https://abc30.com/atwater-sanctuary-city-council-open-businesses-coronavirus/6186252/">ABC30</a> reported.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<a href="https://twitter.com/hashtag/BREAKING?src=hash&amp;ref_src=twsrc%5Etfw">#BREAKING</a> City of Atwater declares itself “Sanctuary City” for all businesses. Non profits like churches are covered in this resolution. <a href="https://twitter.com/ABC30?ref_src=twsrc%5Etfw">@ABC30</a> <a href="https://t.co/DQGjqhkZwa">pic.twitter.com/DQGjqhkZwa</a>
&mdash; Vanessa Vasconcelos (@VanessaABC30) <a href="https://twitter.com/VanessaABC30/status/1261384045784489984?ref_src=twsrc%5Etfw">May 15, 2020</a></blockquote>
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Atwater Mayor Paul Creighton exhorted, &#8220;This is America. You have the choice. It&#8217;s time for the government to stop dictating another month, another three months, six months. When is it going to end? When everyone is bankrupt?&#8221;
&#8220;At the Friday meeting, most people coming up to speak were for the sanctuary city reopening, not to mention members of the City Council and the Mayor voicing approval as well,&#8221; the <a href="https://californiaglobe.com/section-2/atwater-declares-itself-a-sanctuary-city-ends-all-lockdown-orders/">California Globe</a> reported.
Councilman Brian Raymond, who proposed the sanctuary city declaration, noted that some Californian cities, such as <a href="https://www.coalinga.com/DocumentCenter/View/828/LetterFromMayor41120">Coalinga</a>, have simply declared that all businesses as being essential. But Raymond also noted that no city had declared itself a sanctuary city for businesses until Atwater.
Although the city, which is located in Merced County and has a population of roughly 28,000, is open for business, businesses that are regulated by the state could have their licenses revoked, which may inhibit them from opening. Creighton advised, &#8220;We&#8217;re not looking to jeopardize anyone&#8217;s business. That&#8217;s a license you hold with the state of California. So, we don&#8217;t want to cause any harm there, use your best judgment.”
Churches will be permitted to reopen; Victory Baptist church pastor Richard Miller announced that on Sunday he would hold outdoor services, adding that having temporarily held service online had “actually helped us to be more educated on how to keep things clean and reach out to people who can&#8217;t make it out to church.”
“Counties that feel their area is ahead of California&#8217;s curve are required to meet certain guidelines to move further into Phase 2. Merced County is not one of the counties approved to do so,” ABC30 noted.
On May 5, as California moved to Stage 2 of reopening, Newsom stated, “We’re not going back to normal. It’s a new normal with adaptations and modifications, until we get to immunity and a vaccine.” The <a href="https://www.sfgate.com/bayarea/article/Four-stages-reopen-California-businesses-Newsom-15231931.php">San Francisco Chronicle</a> noted of Stage 2:
<blockquote>Schools, summer programs, childcare facilities and low-risk businesses will reopen with adaptations and modifications to promote social distancing … Dr. Sonia Angell Angel, director of the California Department of Public Health, said retail may be allowed to reopen with curbside pickup and non-essential manufacturing for products such as clothing and toys could restart.</blockquote>
The Chronicle reported on May 5, “The new Bay Area order prohibits most retail from opening through May 31. Alameda, Contra Costa, Marin, San Francisco, San Mateo and Santa Clara have allowed essential businesses such as grocery stores to remain open during the pandemic and on Monday allowed outdoor retailers such as plant nurseries to welcome back customers.”
The Daily Wire, headed by bestselling author and popular podcast host Ben Shapiro, is a leading provider of conservative news, cutting through the mainstream media’s rhetoric to provide readers the most important, relevant, and engaging stories of the day. Get inside access to The Daily Wire by becoming a <a href="https://www.dailywire.com/subscribe">member</a>.

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CA City Defies Newsom, Declares Itself ‘Sanctuary City’ For Businesses

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Gavin Newsom

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People have been baiting Instacart shoppers with big dollar tips and then switching them down to zero at the last minute.
Given the high-demand for at-home grocery delivery during the pandemic, Instacart shoppers need to be prudent in who they select and promise of a big tip is a sure-fire way of enticing them. While some people have paid their pledged dollar amount, others are gaming the system by pledging as much $50 and then switching it out for zero in the final minutes.
&#8220;Before accepting a &#8216;batch&#8217; &#8212; which can consist of one or a few orders from different customers &#8212; workers can see the items requested, the store location, the payment Instacart provides workers for the job, and the tip being offered,&#8221; reported <a href="https://www.cnn.com/2020/04/09/tech/instacart-shoppers-tip-baiting/index.html">CNN Business</a>. &#8220;Instacart allows customers to change a tip for up to three days.&#8221;
Annaliisa Arambula, an Instacart shopper from Portland, Oregon, who herself got swindled out of a $55 tip, said its demoralizing to know that people do not appreciate the work they are doing.
&#8220;It&#8217;s very demoralizing. I don&#8217;t pretend to be a hero, like a nurse in a hospital &#8230; but I literally am exposing myself [to coronavirus] and when I return home, exposing my own family to the possibility of transmitting this disease,&#8221; said Arambula. &#8220;When you know that it&#8217;s somebody who&#8217;s just doing it to game the system and to get their order when they want it, it&#8217;s really frustrating.&#8221;
Arambula&#8217;s husband has diabetes and is currently out of work. They have been relying on her Instacart gig to help pay the bills.
Jenifer G., an Instacart shopper out of Pennsylvania, described how a customer pledged a $32.94 tip only to have it drop down to zero on delivery. She described the situation as a &#8220;crapshoot,&#8221; noting that they are happening in affluent communities.
&#8220;It&#8217;s a crapshoot,&#8221; said Jenifer G. &#8220;These are affluent communities that I&#8217;m delivering to. There&#8217;s almost no need to not tip, especially because not only is this a convenience for you but we&#8217;re in a pandemic right now.&#8221;
Instacart has faced intense scrutiny in recent works for failing to protect their workers. Jennifer G. believes that the app should have a 10% flat tip no matter what during this pandemic.
Despite those difficult stories, an Instacart spokesperson told CNN Business that the company has also seen an uptick in people adding more to the tip upon delivery. The spokesperson also said that Instacart removed the &#8220;None&#8221; tip option, forcing people to write $0. The app also provides a rating system and the option for people to leave feedback. In emails, Instacart has been encouraging customers to tip above and beyond what they normally would.
Bryant Greening, an attorney and co-founder of Chicago-based law firm LegalRideshare, said that customers may be liable for litigation.
&#8220;It&#8217;s truly evil to bait and switch in this type of environment,&#8221; said Greening. &#8220;Their livelihood and well-being are on the line. When these shoppers and drivers see a high tip, it&#8217;s an opportunity for them to put food on the table, so they&#8217;re more willing to take a risk on their health to achieve that goal.&#8221;

Instacart shoppper during Coronavirus

People Are Baiting Instacart Shoppers With Big Dollar Tips And Then Switching To Zero

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Even though the government ordered businesses to shut down for public health purposes, sending an economic shockwave across America, former Fox News contributor and left-wing political pundit Sally Kohn says it&#8217;s false to say businesses were &#8220;forced&#8221; to layoff employees.
In a series of tweets on Thursday, Kohn, who regularly appears on CNN, said that while she acknowledges CEOs have been put in a difficult position, she ultimately felt that they have been falsely portrayed as victims.
&#8220;I&#8217;m really tired of reading how business owners are &#8216;forced&#8217; to layoff workers,&#8221; she tweeted. &#8220;No one made them do that. They *chose* to do that. Not saying it isn&#8217;t a hard choice, during a hard time, but to say they were *forced* obscures their agency AND casts owners/CEOs as the victims.&#8221;
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I&#39;m really tired of reading how business owners are &quot;forced&quot; to layoff workers. No one made them do that. They *chose* to do that. Not saying it isn&#39;t a hard choice, during a hard time, but to say they were *forced* obscures their agency AND casts owners/CEOs as the victims.
&mdash; Sally Kohn (@sallykohn) <a href="https://twitter.com/sallykohn/status/1248238463327121408?ref_src=twsrc%5Etfw">April 9, 2020</a></blockquote>
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Naturally, Kohn&#8217;s tweet prompted swift backlash, with people noting that businesses have no money to pay people, which would mean they were forced to lay people off due to economic circumstances.
&#8220;A business literally not having the money to pay their employees is not a choice,&#8221; <a href="https://twitter.com/TheLaurenChen/status/1248289109887660036?s=20">tweeted</a> political commentator Lauren Chen. &#8220;You could say &#8216;It&#8217;s still a choice to lay them off, even if they can&#8217;t pay them.&#8217; But then that would force employees to quit, potentially making them ineligible for certain unemployment benefits. I&#8217;m guessing you&#8217;ve never had to deal with payroll, accounting, or unemployment policy if you really don&#8217;t understand why you&#8217;re getting a ratio right now.&#8221;
&#8220;I was literally forced, literally, by the cold hard fact that I now don&#8217;t have a business income stream to pay all my people. Its called math,&#8221; responded one user.
&#8220;Companies do not want to lay off workers,&#8221; responded another user. &#8220;It has been almost impossible lately to find dedicated and drug-free help. Then they need trained. All of that costs money. No one is laying off people right now if they can afford to keep them on.&#8221;
&#8220;I am not a business owner, but if the business can&#8217;t pay employees right now because there are no customers, doesn&#8217;t letting them go allow them to file for unemployment? It seems like local business owners here have been pretty distraught about letting go of their staff,&#8221; responded another.
After this ratio went on for hours, Sally Kohn later responded to her critics, accusing them of lacking nuance and that it enables CEOs to exploit workers in other ways.
&#8220;Grasp the nuance of what I&#8217;m saying. I am NOT saying that it&#8217;s not a hard, sometimes impossible decision. But it&#8217;s still a DECISION. A CHOICE,&#8221; she tweeted. &#8220;Think about the meaning/implications of the word forced. No one is literally being forced to layoff workers.&#8221;
&#8220;AND that attitude in general, that business owners/CEOs take certain steps because they HAVE TO as opposed to because they CHOOSE TO, helps mask exploitation of workers in general in a million other ways — &#8216;have no choice&#8217; but to pay low wages, no benefits, etc.&#8221; she concluded.
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AND that attitude in general, that business owners/CEOs take certain steps because they HAVE TO as opposed to because they CHOOSE TO, helps mask exploitation of workers in general in a million other ways — &quot;have no choice&quot; but to pay low wages, no benefits, etc.
&mdash; Sally Kohn (@sallykohn) <a href="https://twitter.com/sallykohn/status/1248246071274303490?ref_src=twsrc%5Etfw">April 9, 2020</a></blockquote>
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As <a href="https://www.dailywire.com/news/unemployment-claims-top-6-million-for-second-straight-week-even-higher-than-predicted">reported</a> by The Daily Wire&#8217;s Tim Pearce, approximately 6.6 million Americans applied for unemployment in the past week, even higher than what economists predicted.

Kohn

Sally Kohn: Businesses Chose To Layoff Employees, Wrong To Say ‘Forced’

Sally Kohn

Even though the government ordered businesses to shut down for public health purposes, sending an economic shockwave across America, former Fox News

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The coronavirus COVID-19 that originated in China may be the last straw that finally has triggered American companies to exit China. In the Global manufacturing consulting firm Kearney’s seventh annual Reshoring Index released on Tuesday, co-author Patrick Van den Bossche writes:
<blockquote>Three decades ago, U.S. producers began manufacturing and sourcing in China for one reason: costs. The trade war brought a second dimension more fully into the equation―risk―as tariffs and the threat of disrupted China imports prompted companies to weigh surety of supply more fully alongside costs. COVID-19 brings a third dimension more fully into the mix­, and arguably to the fore: resilience―the ability to foresee and adapt to unforeseen systemic shocks.</blockquote>
As Kenneth Rapoza writes in <a href="https://www.forbes.com/sites/kenrapoza/2020/04/07/new-data-shows-us-companies-are-definitely-leaving-china/#1fd3fc1d40fe">Forbes,</a> the Kearnsey report revealed a “dramatic reversal” because domestic U.S. manufacturing in 2019 outdid 14 Asian exporters tracked in the study. Rapoza notes succinctly, “Manufacturing imports from China were the hardest hit.”
Rapoza opines that other nations in southeast Asia and Mexico may become primary target spots for American companies. He adds, “The new SARS coronavirus has literally closed the economies of the Western world and created a public relations nightmare for China.”
The Kearney report states that companies “will be compelled to go much further in rethinking their sourcing strategies, (and) their entire supply chains.”
In mid-March, Senator Marco Rubio (R-FL) <a href="https://www.foxnews.com/world/chinese-deny-americans-coronavirus-drugs">told Fox News</a> of <a href="http://www.xinhuanet.com/2020-03/04/c_1125660473.htm">an article</a> in Xinhua, the Chinese state-run media agency, that stated: “If China retaliates against the United States at this time, in addition to announcing a travel ban on the United States, it will also announce strategic control over medical products and ban exports to the United States. Then the United States will be caught in the ocean of new coronaviruses … Also according to the U.S. CDC officials, most of the drugs in the United States are imported…If China banned exports, the United States will fall into the hell of a new coronavirus pneumonia epidemic … We should say righteously that the U.S. owes China an apology, the world owes China a ‘thank you.’”
Rubio warned &#8220;they can threaten to cut us off from our pharmaceutical supplies, they could trigger a domestic problem here that would make it difficult or us to confront them. It&#8217;s a tremendous amount of leverage.&#8221;
Senator Tom Cotton, who introduced a bill to protect the United States from dependence on China for pharmaceuticals, stated, “The Chinese Communist Party has threatened to cut off America&#8217;s access to vital drugs in the midst of a pandemic caused by its own failures. It&#8217;s time to pull America&#8217;s supply chains for life-saving medicine out of China and make the CCP pay for contributing to this global emergency.”
Cotton’s Senate <a href="https://www.cotton.senate.gov/files/documents/Cotton%20Gallagher%20Bill%20FINAL.pdf">website</a> noted how dependent the United States is on the supply of pharmaceuticals from China:
<blockquote>Today, most active pharmaceutical ingredients (APIs) used for drugs in the United States are made in China, including 95% of U.S. imports of ibuprofen, 70% of acetaminophen, and 40-45% of Penicillin. This vulnerable state of affairs is due to the Chinese Communist Party having spent a generation cornering this strategic market.</blockquote>
Rapoza concludes in Forbes, “China is the go-to source for ibuprofen, hazmat suits, rubber gloves, surgical masks, ventilators … companies will want to hedge their supply chain strategy by spreading their risks. That doesn’t mean a full abandonment of China. It does mean China’s days as the go-to manufacturing hub for the Western world are over.”
&nbsp;

bye bye message in light box

Report: American Companies Are Leaving China

China

The coronavirus COVID-19 that originated in China may be the last straw that finally has triggered American companies to exit China. In the Global

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On Tuesday, Senate Majority Leader Mitch McConnell (R-KY) indicated he would try to obtain more funding for the small-business loan program Congress created last month, stating, “The small-business Paycheck Protection Program needs more funding. Congress needs to act with speed and total focus to provide more money for this uncontroversial bipartisan program.”
<a href="https://www.wsj.com/articles/mcconnell-says-small-business-loan-program-needs-more-funding-11586275489">The Wall Street Journal</a> reported, “The Treasury Department is expected to request at least $200 billion more for the program on Tuesday, and Mr. McConnell will need the consent of Senate Minority Leader Chuck Schumer (D., N.Y.) to pass the funding this week. With lawmakers out of town, Mr. McConnell said he hoped to pass the measure through unanimous consent or a voice vote.”
“Texas Senator Marco Rubio, the chairman of the Small Business Committee, estimated the program needs an additional $200-$250 billion,” <a href="https://www.dailymail.co.uk/news/article-8197075/Senate-rush-250-billion-bailout-small-businesses-early-Thursday.html">The Daily Mail</a> noted.
The Journal added, “Lenders have been inundated with applications for the funds since the program launched on Friday. The loans, capped at a maximum of $10 million for businesses with fewer than 500 employees, are intended to cover roughly two months of essential costs, and the government will forgive the debt if businesses don’t lay off workers … The <a href="https://www.wsj.com/articles/fed-preparing-to-purchase-new-small-business-payroll-loans-11586194588?mod=article_inline">Federal Reserve said Monday it would create a new program</a> to finance the loans lenders make to small businesses, freeing up more lending capacity.”
<a href="https://www.washingtonpost.com/us-policy/2020/04/06/trump-democrats-coronavirus-stimulus-trillion/">The Washington Post</a> added, “Wells Fargo didn’t begin taking applications until Saturday and by Monday morning said it had reached the $10 billion cap it had set for loans under the program. To deal with the crushing demand, the Federal Reserve launched a system for banks to offload these assets so they could originate more loans.”
McConnell’s <a href="https://www.republicanleader.senate.gov/newsroom/press-releases/mcconnell-statement-on-additional-funding-for-paycheck-protection-program">statement</a> read:
<blockquote>Twelve days ago, the Senate passed the largest rescue package in American history. Our bipartisan CARES Act provided more than $2 trillion in relief for workers and families, resources for hospitals and healthcare providers, and emergency lending to blunt mass layoffs and help workers continue to get paid. As the administration works to implement this historic legislation and push money out the door, Senate Republicans believe any potential further action will need to be tailored to the actual needs of our nation, not plucked off preexisting partisan wish lists.
Even as the CARES Act continues to come online, one such need is already clear: The small-business Paycheck Protection Program needs more funding. This bold legislation from Chairman Marco Rubio, Chairman Susan Collins, Senator Ben Cardin, and Senator Jeanne Shaheen is providing emergency liquidity to Main Street businesses nationwide to keep paychecks coming.
In just a few days, this program has become overwhelmingly popular. Thanks to the hard work of small businesses and lenders, billions of dollars have already landed and tens of billions more are already in the pipeline. Jobs are literally being saved as we speak. But as Secretary Mnuchin has explained, Congress needs to quickly provide more funding or this crucial program will run dry. That cannot happen. Nearly 10 million Americans filed for unemployment in just the last two weeks. This is already a record-shattering tragedy and every day counts.
Congress needs to act with speed and total focus to provide more money for this uncontroversial bipartisan program. I will work with Leader Schumer and hope to approve further funding for the Paycheck Protection Program by unanimous consent or voice vote during the next scheduled Senate session on Thursday.</blockquote>
Missouri Senator Josh Hawley has suggested that the federal government directly finance companies so they can pay employees, asserting, “We seem to be on a roller coaster that is currently plunging down. personally do not want to ride that roller coaster and find where the bottom is. And I don&#8217;t think American workers should be forced to.&#8221;

Congress Works Toward Finalizing Coronavirus Stimulus Bill

McConnell: We Hope To Approve Further Funding For Small Businesses On Thursday

Mitch McConnell

On Tuesday, Senate Majority Leader Mitch McConnell (R-KY) indicated he would try to obtain more funding for the small-business loan program Congress

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Speaking to Maria Bartiromo of Fox Business on Tuesday, Treasury Secretary Steven Mnuchin offered comfort to small business owners, noting, “If you can’t get the loans today or tomorrow, don’t worry. There will be money; if we run out of money we’ll go back for more,” adding, “I know the president is very much looking at how we can reopen parts of the economy.”
Bartiromo stated, “We’re in lockdown. Do you think that this next eight weeks they’ll open up in the time that they can actually use the money and make sure that the employee has the money but they’re also going to actually get revenue in so that they can open up again? Because this is an eight-week period that they’re giving money to employees and they’ve got no revenue. They’re in lockdown. So at some point, they may have to fire that person anyway, because they won’t make it.”
Mnuchin answered:
<blockquote>Well, Maria, the whole point of them hiring these people now is because they have no revenues. The government is giving them money to pay their employees. And if eight weeks from now we need more money, we’ll go back to Congress. But the whole purpose of this is we understand small business has no revenues, and that’s no fault of their own; that’s because of the coronavirus. We’re going to kill this virus, and during this period the president wants to make sure that employees are paid.
So the whole purpose of this is people have zero revenues. Go take the loan, pay your employees, use the 25% overhead and pay rent and electricity and other things, and at the end of the period, as long as you use the money for what you’re supposed to use, the loan will be forgiven. And the only time we’d ever come back against somebody is if the money was used for fraudulent purposes … Now let me just encourage everybody out there: If you can’t get the loans today or tomorrow, don’t worry. There will be money; if we run out of money we’ll go back for more.</blockquote>
Bartiromo asked bluntly, “Do you think this shutdown is going to go longer then eight weeks?”
Mnuchin replied, “Maria, I hope not; I hope we can get back to the point — I think everything I hear from the medical professionals —in many places we are close to the worst point; they’re beginning to peak, and I think then things are going to get better, and I know the president is very much looking at how we can reopen parts of the economy. There are parts of the country like New York, where obviously this is very, very concerning; there are other parts of the country where it’s not; and so he’s meeting with the task force and the medical professionals and getting posted on this every day.”
Mnuchin asserted that more than 3,000 lenders backed by the Small Business Administration are participating in the program. Fox Business noted, “As of Monday afternoon, more than 130,000 loans worth more than $40 billion had been paid, a senior administration official told FOX Business. Companies may borrow up to 2.5 times their payroll, or up to $10 million, which can be used for payroll and other expenses, like insurance premiums, mortgages, rent or utilities through June 30. The loans, which are guaranteed by the federal government, will be fully forgiven if 75 percent of the money goes toward keeping workers employed, according to the SBA.”
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Members Of The Coronavirus Task Force Hold Press Briefing

WATCH: Mnuchin To Small Business Owners: ‘Don’t Worry. There Will Be Money’

Steve Mnuchin

Speaking to Maria Bartiromo of Fox Business on Tuesday, Treasury Secretary Steven Mnuchin offered comfort to small business owners, noting, “If you can’t

WATCH: Mnuchin To Small Business Owners: ‘Don’t Worry. There Will Be Money’ | The Daily Wire

https://www.dailywire.com/news/watch-mnuchin-to-small-business-owners-dont-worry-there-will-be-money/

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