By Steve Rhodes
I Zoomed with a bunch of college friends last night – it was the second time for the core of us – and it was so much fun. I highly recommend it. And if you can, use a laptop or desktop instead of a phone, because apparently on a phone you can’t see the whole gallery of folks on the call, and that’s half the fun. (And yes, I know Zoom has security issues. Still.)
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PPP Tape
“Small business owners across Chicago have been shut out of the Small Business Administration’s Paycheck Protection Program, commonly referred to as the PPP loan,” Block Club Chicago reports.
And not just Chicago – all across America!
“The program was launched as part of the $2 trillion federal stimulus package to help small businesses survive the coronavirus crisis. The loans are forgivable if used for payroll and other agreed-upon costs.”
A new round of funding is likely to pass through Congress this week, but in the meantime small business folks are needlessly suffering.
“When the program was announced, an arms race erupted between the haves and have nots. Those who had access to resources – accountants, attorneys, reliable and trustworthy lenders – were able to get their applications filed early. Small business owners without those resources were left scrambling, trying to navigate the process with limited knowledge and means.
“Bigger companies ‘used up the funding, leaving little left for those without the resources to apply immediately,'” a local accountant told BCC.
To wit:
“Ruth’s Chris Steak House has long been known for its beefy portions, including a 22- ounce rib-eye. But lately, the upscale chain is getting more attention for the size of the loan it got through the government’s small business aid program,” the Wall Street Journal reports.
“Even though loans are generally capped at $10 million, Ruth’s Hospitality Group Inc. was able to qualify for $20 million under a provision that allowed it to seek loans for each of two subsidiaries.”
The crazy part of this that SBA should simply cancel is that Ruth’s Chris used two separate subsidiaries to evade the $10 million PPP loan cap, and stated it plainly in their SEC disclosure. Why isn’t SBA/Tsy taking back $10 million? https://t.co/yS4bNbMVJH
β David Dayen (@ddayen) April 19, 2020
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“At least two other restaurant chains took advantage of that provision, public filings and interviews show. Brazilian steakhouse chain Fogo de ChaΜo Inc. also got $20 million, and casual-dining company J. Alexander’s Holdings Inc. received $15.1 million.”
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Also: Shake Shack, which we can now call Shamed Shack.
Shake Shack returning $10 million government loan meant for small businesses https://t.co/mUUngM1Kxu
β Stephanie Ruhle (@SRuhle) April 20, 2020
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And Chicago’s own Potbelly.
“Sandwich chain Potbelly Corp., which had sales last year of $410 million and employed 6,000 people, also received $10 million,” Bloomberg reports.
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Here’s Potbelly CEO Alan Johnson. He’s the one on the right.
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EPeeA
“Chicago’s Southeast Environmental Task Force and Clean Power Lake County are among the plaintiffs that have joined the National Resource Defense Council in a lawsuit against the U.S. Environmental Protection Agency’s rollback of reporting and monitoring requirements during the coronavirus pandemic,” WTTW-TV reports.
On March 26, citing the COVID-19 outbreak, the EPA issued a memo that relaxed enforcement of “environmental legal obligations” related to monitoring, integrity testing, sampling, laboratory analysis, training, and reporting or certification, retroactive to March 13.
“The agency stated in the memo it would not seek penalties for violations in situations in which COVID-19 is determined to have been the cause of the noncompliance.
“Environmental organizations at both the national and local level denounced the action, which permits a company to document its noncompliance and the reason for it ‘internally’ and inform EPA about it later. NRDC has dubbed the memo a ‘free pass for polluters.'”
Relaxing pollution regulations during a pandemic of a deadly respiratory illness is like, I dunno, cutting off funding to WHO during a pandemic.
Wait, that happened?
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Trump has often claimed to be an environmentalist, at least once citing as proof that as a developer he had filed many environmental impact statements.
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You could hardly do a better job of destroying America than Trump is doing if you actually tried. It really makes you wonder if he’s not the world’s greatest enemy infiltrator.
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New on the Beachwood . . .
The Universe Is Meaningless
Sorry, folks, it’s physics all the way down.
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ChicagoReddit
With no pollution the Chicago skyline is crystal clear, even in a phone shot, across Lake Michigan from New Buffalo, Michigan. from r/chicago
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ChicagoGram
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ChicagoTube
Chicago Metallic 9″ x 13″ Slice Solutions Brownie Pan on QVC.
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BeachBook
A Beloved Bar Owner Was Skeptical About The Virus. Then He Took A Cruise.
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How Tobacco Companies Led A Devastating 50-Year Infiltration Into Black Communities.
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Are Basketball Superstars More Loyal To Their Sneaker Companies Than Their Teams, And This Is Really A Statement Not A Question.
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Why Has It Always Been So Hard To Fight The Common Cold?
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Competitive Marble Racing Finds Fans In A World Missing Sports.
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TweetWood
A sampling of the delight and disgust you can find @BeachwoodReport.
‘Delusional,’ ‘absolutely false’: Governors cry foul on Trump testing claims https://t.co/lbhYHKKT4f via @nbcnews
β Beachwood Reporter (@BeachwoodReport) April 20, 2020
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When the New England Journal of Medicine is suggesting the White House is running a PPE blockade, around which governors and hospitals have to navigate like blockade runners, you know the federal covid response has entered a new phase of political sadism. https://t.co/gjYne5O3ke
β David Wallace-Wells (@dwallacewells) April 19, 2020
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Every single day the President of the United States tells multiple lies. Why is this not the lead story every single day? https://t.co/lrXTzRWl8G
β Beachwood Reporter (@BeachwoodReport) April 20, 2020
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“Listen, CNN … you people are so pathetic at CNN … your ratings are pathetic” — Trump attacks @JDiamond1 for the second time this briefing after Diamond asks him a straightforward question about his own past statements praising President Xi pic.twitter.com/SVgwdReINv
β Aaron Rupar (@atrupar) April 19, 2020
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The faulty initial coronavrius test was created by the CDC in 2020, three years into Trump’s presidency.
Trump tonight, again: “Look, I told you, we inherited a lot of garbage. We took — they had tests that were no good…it came from somewhere, so whoever came up with it.”
β Daniel Dale (@ddale8) April 20, 2020
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I asked President Trump why he waited until today to use the Defense Production Act for coronavirus testing swabs — more than a month after labs began warning that swab shortages were hurting efforts to ramp up testinghttps://t.co/8bsGfbzw9w https://t.co/dQnLsADvsm
β Alice Miranda Ollstein (@AliceOllstein) April 20, 2020
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Trump finally responds to @colvinj question about the bipartisan calls from governors for more federal leadership in distributing the reagent needed for COVID-19 tests: “We’re in great shape. It’s so easy to get that.”
β Eli Stokols (@EliStokols) April 19, 2020
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Asked why he is reading praise of himself at this time, Trump calls CNN “fake news,” tells a reporter, “You don’t have the brains you were born with.”
β Daniel Dale (@ddale8) April 19, 2020
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Meanwhile . . .
Reminder that Harvard’s endowment is $40 BILLION — the largest in America. https://t.co/HKWq8k98wd
β Jonathan Swan (@jonathanvswan) April 19, 2020
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Nurses blocking cars in Downtown Denver to counter-protest those who are against the State’s “Stay-at-Home” order
All Photos by Alyson McClaran (couldn’t find a twitter to tag)https://t.co/kj526j2T5F pic.twitter.com/aOGxTxjxBn
β Scott Loy (@OhSnapitsScott) April 19, 2020
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“I’m calling on Jesse White and his mystical tumblers to begin flipping at least six feet above … https://t.co/egZxoJo9GA
β Beachwood Reporter (@BeachwoodReport) April 19, 2020
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The Beachwood Q-Tip Line: Ahoy.
Posted on April 20, 2020