Company With Ties To Trump Receives Millions From Small Business Loan Program

[Coyote]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

i'd agree we need this type of oversight when handing out money. the issue is - how much and when it is too much and no longer a grant or loan but paying you to do something? i think most agree we need to be helping others. where it falls apart is by how much we should help. unfortunately since this is the government jacking with everyone, they get to pay. only THEY is US.

shake shack was lauded for giving back a $10mil loan. people went nuts. i read the story and saw they only did it *after* securing other funding. but here i'm torn. employment is employment. shake shack employs thousands, self employed, 1. where do you put your focus? this isn't to pick on anyone or say they don't deserve some help - not at all. just saying we have finite resources and not everyone who needs help, unfortunately, is going to get it.

this had to be done quick. i'd only really care *if* it was done TO GIVE his businesses the help and prioritized them over others. but given we've never been through this before, what process do you use to be "fair"? i'm betting pogos testicles there simply isn't a way TO be fair.

now to continue "to be fair" - i'm confident of that bet. its just a general rule to never gamble with your own genitalia.

where i agree with schiff is we need a post mortem. but ONLY IF that is done to learn. in a true "post mortem" there is no blame there is no assignment of responsibility. only where things broke down as a whole and as a whole how to improve and keep it from happening again. here is where i bet slades privates that schiff isn't about to do a true "post mortem" and is all out to attack.

again.

someone should kick him in the nuts.

again. and again. and again. he can put some of pelosis designer ice cream on them when done.

Agreed that an after action review does need to happen.... Each and every detail of the bailouts needs to be over with a fine toothed comb. Preferably by a non partisan entity, but I doubt there is such a thing in the time of President Trump.
It would be interesting to find out why a large part of the pork put into the stimulus was "necessary"
It would be interesting to see if claims of millions going out then went to various democratic campaign contributions.. To me that would be a big no no.
It would be interesting to see which of the companies that received loans really needed them or were they just hedging their collective bets?
Right now, there are so many loan applications filed and going through the process and by all news reports the fund is dry. It'll be interesting to see which small business' survive and which ones don't. I would hope the process to be fair, and the intent may have been for it to be so, but rarely is anything fair when politicians are involved.

dead on - get as non partisan as we can.

where did the $ go - if to improper sources, follow up; not assign instant guilt.

the problem is w/o guidance on how to hand out the funds, how can you say someone did something wrong with it?

I think you miss the point. This could have been avoided. There were attempts to put in stricter oversight requirements and stronger language in it for guidance that were rejected by the Republicans. That would have provided the guidance.

 

[Coyote]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

Really? You want to play 6 degrees seperation from Trump, a businessman who knows other businessmen who you selectively recognize 1 of the many who would have to be in need of help since it was the Situation and thus gov't who placed those businesses in a bad situation thus has to bail them out as a matter of fairness and principle.
Notice you ignored the many businesses who know or funded Pelosis who's signature and funding helped her friends and donors.
You were silent when Adam Schiff's donor was awarded gov't money that went to Ukraine military aid Schiff lobbied for and they miraculously used a chunk of 5hat money vuying militsry parts from his Ukrainian born donor in California.
Not only were you silent, but you supported Schiffs smokescreen deflection suring his impeachment stunt that claimed Trump did a quid pro quo when it was SCHIFF and Biden involved in Quid Pro Quos with Ukraine.-oops you supported REAL abuse OF POWER AND TREASON TO BOOT!

Umh. What does that have to do with this? Ans. Nothing.

Nice deflection though.

 

[Siete]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

Goldilocks has made his living duping anyone he has business contacts with. Now that he has a key to the bank, and nobody is watching him you can bet he will take any opportunity that presents itself.

 

[Coyote]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

i'd agree we need this type of oversight when handing out money. the issue is - how much and when it is too much and no longer a grant or loan but paying you to do something? i think most agree we need to be helping others. where it falls apart is by how much we should help. unfortunately since this is the government jacking with everyone, they get to pay. only THEY is US.

shake shack was lauded for giving back a $10mil loan. people went nuts. i read the story and saw they only did it *after* securing other funding. but here i'm torn. employment is employment. shake shack employs thousands, self employed, 1. where do you put your focus? this isn't to pick on anyone or say they don't deserve some help - not at all. just saying we have finite resources and not everyone who needs help, unfortunately, is going to get it.

this had to be done quick. i'd only really care *if* it was done TO GIVE his businesses the help and prioritized them over others. but given we've never been through this before, what process do you use to be "fair"? i'm betting pogos testicles there simply isn't a way TO be fair.

now to continue "to be fair" - i'm confident of that bet. its just a general rule to never gamble with your own genitalia.

where i agree with schiff is we need a post mortem. but ONLY IF that is done to learn. in a true "post mortem" there is no blame there is no assignment of responsibility. only where things broke down as a whole and as a whole how to improve and keep it from happening again. here is where i bet slades privates that schiff isn't about to do a true "post mortem" and is all out to attack.

again.

someone should kick him in the nuts.

again. and again. and again. he can put some of pelosis designer ice cream on them when done.

Agreed that an after action review does need to happen.... Each and every detail of the bailouts needs to be over with a fine toothed comb. Preferably by a non partisan entity, but I doubt there is such a thing in the time of President Trump.
It would be interesting to find out why a large part of the pork put into the stimulus was "necessary"
It would be interesting to see if claims of millions going out then went to various democratic campaign contributions.. To me that would be a big no no.
It would be interesting to see which of the companies that received loans really needed them or were they just hedging their collective bets?
Right now, there are so many loan applications filed and going through the process and by all news reports the fund is dry. It'll be interesting to see which small business' survive and which ones don't. I would hope the process to be fair, and the intent may have been for it to be so, but rarely is anything fair when politicians are involved.

Or Republican campaign donations.

 

[Indeependent]

Trump has ties to huge numbers of people in business. ANd you found one that got money from a program designed to hand out money?


Shocking.

Key Terms for those suffering TDS (Trump Defense System): Independent Oversight.

Key Term for you, how about cutting and pasting the part of the article that showed any actual hint of anything wrong?

I haven't made a claim about wrong doing - yet. The point is - the Dems are right. This needs independent oversight, that you guys resist! People who need this money aren't getting it. The real small business!

Should I ask any small businesses if they have received the loans that neither Party has sent out yet?
The Ds are as full of shit as the Rs.

Yes. But in this particular item, the D's are right - there needed to be stricter oversight and there needed to be stronger language defining a small business.

What do you expect any Party members to say?
They all want to pilfer money.
Are you that naive?
Knock if off with the "Ds GOOD" BS already.
They both suck.

 

[Dragonlady]

Trump has ties to huge numbers of people in business. ANd you found one that got money from a program designed to hand out money?


Shocking.

Correll the Trump troll, never met a corrupt act he couldn't support:

https://www.washingtonpost.com/business/2020/04/20/white-house-gop-face-heat-after-hotel-restaurant-chains-helped-run-small-business-program-dry/

Private equity firm with ties to Kushner asks Trump administration to relax rules on loan program: report

thehill.com

As federal small business loans run dry ‘a lot of folks are left behind’

Texas receives the most small-business aid of any state, yet only a fraction of the...

www.houstonchronicle.com

 

[Coyote]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

i'd agree we need this type of oversight when handing out money. the issue is - how much and when it is too much and no longer a grant or loan but paying you to do something? i think most agree we need to be helping others. where it falls apart is by how much we should help. unfortunately since this is the government jacking with everyone, they get to pay. only THEY is US.

shake shack was lauded for giving back a $10mil loan. people went nuts. i read the story and saw they only did it *after* securing other funding. but here i'm torn. employment is employment. shake shack employs thousands, self employed, 1. where do you put your focus? this isn't to pick on anyone or say they don't deserve some help - not at all. just saying we have finite resources and not everyone who needs help, unfortunately, is going to get it.

this had to be done quick. i'd only really care *if* it was done TO GIVE his businesses the help and prioritized them over others. or did trumps businesses also benefit from this (as thousands of other businesses did as well) and the left wants to bitch about it? they bitch about everything it seems. now, given we've never been through this before, what process do you use to be "fair"? i'm betting pogos testicles there simply isn't a way TO be fair. so did he?

now to continue "to be fair" - i'm confident of that bet. its just a general rule to never gamble with your own genitalia.

where i agree with schiff is we need a post mortem. but ONLY IF that is done to learn. in a true "post mortem" there is no blame there is no assignment of responsibility. only where things broke down as a whole and as a whole how to improve and keep it from happening again. here is where i bet slades privates that schiff isn't about to do a true "post mortem" and is all out to attack.

again.

someone should kick him in the nuts.

again. and again. and again. he can put some of pelosis designer ice cream on them when done.

So...you are already assigning a blame to Pelosi and Schiff? You are pinpointing them aren't you? Do you think the Republicans are capable of an honest post mortem these days?

A rushed bill isn't really a good excuse because some of this was addressed in what Pelosi wanted added to the bill.

 

[Coyote]

Trump has ties to huge numbers of people in business. ANd you found one that got money from a program designed to hand out money?


Shocking.

Key Terms for those suffering TDS (Trump Defense System): Independent Oversight.

Key Term for you, how about cutting and pasting the part of the article that showed any actual hint of anything wrong?

I haven't made a claim about wrong doing - yet. The point is - the Dems are right. This needs independent oversight, that you guys resist! People who need this money aren't getting it. The real small business!

Should I ask any small businesses if they have received the loans that neither Party has sent out yet?
The Ds are as full of shit as the Rs.

Yes. But in this particular item, the D's are right - there needed to be stricter oversight and there needed to be stronger language defining a small business.

What do you expect any Party members to say?
They all want to pilfer money.
Are you that naive?
Knock if off with the "Ds GOOD" BS already.
They both suck.

Again. In this particular item - they were right.

Sometimes either parties can get it RIGHT. And for sure - someone got it wrong here.

 

[Indeependent]

Trump has ties to huge numbers of people in business. ANd you found one that got money from a program designed to hand out money?


Shocking.

Key Terms for those suffering TDS (Trump Defense System): Independent Oversight.

Key Term for you, how about cutting and pasting the part of the article that showed any actual hint of anything wrong?

I haven't made a claim about wrong doing - yet. The point is - the Dems are right. This needs independent oversight, that you guys resist! People who need this money aren't getting it. The real small business!

Should I ask any small businesses if they have received the loans that neither Party has sent out yet?
The Ds are as full of shit as the Rs.

Yes. But in this particular item, the D's are right - there needed to be stricter oversight and there needed to be stronger language defining a small business.

What do you expect any Party members to say?
They all want to pilfer money.
Are you that naive?
Knock if off with the "Ds GOOD" BS already.
They both suck.

Again. In this particular item - they were right.

Sometimes either parties can get it RIGHT. And for sure - someone got it wrong here.

That's like saying an analog clock is right once every 12 hours.
Stop letting your emotions make you stupid.

 

[Correll]

Trump has ties to huge numbers of people in business. ANd you found one that got money from a program designed to hand out money?


Shocking.

Correll the Trump troll, never met a corrupt act he couldn't support:

https://www.washingtonpost.com/business/2020/04/20/white-house-gop-face-heat-after-hotel-restaurant-chains-helped-run-small-business-program-dry/

Private equity firm with ties to Kushner asks Trump administration to relax rules on loan program: report

thehill.com

As federal small business loans run dry ‘a lot of folks are left behind’

Texas receives the most small-business aid of any state, yet only a fraction of the...

www.houstonchronicle.com

So, to be clear, you are dropping the claim made in the op, admitting it was nothing and bringing up new weak attacks, wally?

 

[Canon Shooter]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

In the United States, a "small business" is determined by the number of employees, not by revenue. In the United States, that number of employees is 500.

As for other companies not getting the loans, there could be any number of reasons why they didn't get them, and none of those reason will have anything to do with this one company getting a loan...

 

[HaShev]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

Really? You want to play 6 degrees seperation from Trump, a businessman who knows other businessmen who you selectively recognize 1 of the many who would have to be in need of help since it was the Situation and thus gov't who placed those businesses in a bad situation thus has to bail them out as a matter of fairness and principle.
Notice you ignored the many businesses who know or funded Pelosis who's signature and funding helped her friends and donors.
You were silent when Adam Schiff's donor was awarded gov't money that went to Ukraine military aid Schiff lobbied for and they miraculously used a chunk of 5hat money vuying militsry parts from his Ukrainian born donor in California.
Not only were you silent, but you supported Schiffs smokescreen deflection suring his impeachment stunt that claimed Trump did a quid pro quo when it was SCHIFF and Biden involved in Quid Pro Quos with Ukraine.-oops you supported REAL abuse OF POWER AND TREASON TO BOOT!

Umh. What does that have to do with this? Ans. Nothing.

Nice deflection though.

It has to do with the selective tying in for political propaganda and tactic to a subject that as you are saying should only be about the discussion of who should receive the money.
Now 'that' discussion should also stop being selectively discussed. Facts left out: the money is earmarked to be used to keep employees employed, if such a corp wasn't using it for that, then I'm sure the lender would have had an issue with a larg corp taking what's intended to help companies in need maintain staff and remain capable of opening when this is over.
If the Lender did not make the correct judgment then they will be investigated for any self preservation lending to corps they the distributing Bank holds debt on.
Corps if they lie to the distributing bank would be risking charges of loan fraud.

 

[iceberg]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

i'd agree we need this type of oversight when handing out money. the issue is - how much and when it is too much and no longer a grant or loan but paying you to do something? i think most agree we need to be helping others. where it falls apart is by how much we should help. unfortunately since this is the government jacking with everyone, they get to pay. only THEY is US.

shake shack was lauded for giving back a $10mil loan. people went nuts. i read the story and saw they only did it *after* securing other funding. but here i'm torn. employment is employment. shake shack employs thousands, self employed, 1. where do you put your focus? this isn't to pick on anyone or say they don't deserve some help - not at all. just saying we have finite resources and not everyone who needs help, unfortunately, is going to get it.

this had to be done quick. i'd only really care *if* it was done TO GIVE his businesses the help and prioritized them over others. but given we've never been through this before, what process do you use to be "fair"? i'm betting pogos testicles there simply isn't a way TO be fair.

now to continue "to be fair" - i'm confident of that bet. its just a general rule to never gamble with your own genitalia.

where i agree with schiff is we need a post mortem. but ONLY IF that is done to learn. in a true "post mortem" there is no blame there is no assignment of responsibility. only where things broke down as a whole and as a whole how to improve and keep it from happening again. here is where i bet slades privates that schiff isn't about to do a true "post mortem" and is all out to attack.

again.

someone should kick him in the nuts.

again. and again. and again. he can put some of pelosis designer ice cream on them when done.

Agreed that an after action review does need to happen.... Each and every detail of the bailouts needs to be over with a fine toothed comb. Preferably by a non partisan entity, but I doubt there is such a thing in the time of President Trump.
It would be interesting to find out why a large part of the pork put into the stimulus was "necessary"
It would be interesting to see if claims of millions going out then went to various democratic campaign contributions.. To me that would be a big no no.
It would be interesting to see which of the companies that received loans really needed them or were they just hedging their collective bets?
Right now, there are so many loan applications filed and going through the process and by all news reports the fund is dry. It'll be interesting to see which small business' survive and which ones don't. I would hope the process to be fair, and the intent may have been for it to be so, but rarely is anything fair when politicians are involved.

dead on - get as non partisan as we can.

where did the $ go - if to improper sources, follow up; not assign instant guilt.

the problem is w/o guidance on how to hand out the funds, how can you say someone did something wrong with it?

I think you miss the point. This could have been avoided. There were attempts to put in stricter oversight requirements and stronger language in it for guidance that were rejected by the Republicans. That would have provided the guidance.

If this is going 5o be only 2hat the, OTHER side did, then the discussion is pointless. There's enough bullshit all around on this one.

So no I don't miss the point. Our entire government is pretty much a dysfunctional family. Liking cousin Bob over uncle Larry makes zero difference when the family won't work together.

So no. I missed no point at all. I was aiming elsewhere.

 

[iceberg]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

i'd agree we need this type of oversight when handing out money. the issue is - how much and when it is too much and no longer a grant or loan but paying you to do something? i think most agree we need to be helping others. where it falls apart is by how much we should help. unfortunately since this is the government jacking with everyone, they get to pay. only THEY is US.

shake shack was lauded for giving back a $10mil loan. people went nuts. i read the story and saw they only did it *after* securing other funding. but here i'm torn. employment is employment. shake shack employs thousands, self employed, 1. where do you put your focus? this isn't to pick on anyone or say they don't deserve some help - not at all. just saying we have finite resources and not everyone who needs help, unfortunately, is going to get it.

this had to be done quick. i'd only really care *if* it was done TO GIVE his businesses the help and prioritized them over others. but given we've never been through this before, what process do you use to be "fair"? i'm betting pogos testicles there simply isn't a way TO be fair.

now to continue "to be fair" - i'm confident of that bet. its just a general rule to never gamble with your own genitalia.

where i agree with schiff is we need a post mortem. but ONLY IF that is done to learn. in a true "post mortem" there is no blame there is no assignment of responsibility. only where things broke down as a whole and as a whole how to improve and keep it from happening again. here is where i bet slades privates that schiff isn't about to do a true "post mortem" and is all out to attack.

again.

someone should kick him in the nuts.

again. and again. and again. he can put some of pelosis designer ice cream on them when done.

Agreed that an after action review does need to happen.... Each and every detail of the bailouts needs to be over with a fine toothed comb. Preferably by a non partisan entity, but I doubt there is such a thing in the time of President Trump.
It would be interesting to find out why a large part of the pork put into the stimulus was "necessary"
It would be interesting to see if claims of millions going out then went to various democratic campaign contributions.. To me that would be a big no no.
It would be interesting to see which of the companies that received loans really needed them or were they just hedging their collective bets?
Right now, there are so many loan applications filed and going through the process and by all news reports the fund is dry. It'll be interesting to see which small business' survive and which ones don't. I would hope the process to be fair, and the intent may have been for it to be so, but rarely is anything fair when politicians are involved.

Or Republican campaign donations.

How about political donations? Why just worry about the OTHER sides actions?

I have to think that mindset is why we are so dysfunctional.

 

[Coyote]

Trump has ties to huge numbers of people in business. ANd you found one that got money from a program designed to hand out money?


Shocking.

Correll the Trump troll, never met a corrupt act he couldn't support:

https://www.washingtonpost.com/business/2020/04/20/white-house-gop-face-heat-after-hotel-restaurant-chains-helped-run-small-business-program-dry/

Private equity firm with ties to Kushner asks Trump administration to relax rules on loan program: report

thehill.com

As federal small business loans run dry ‘a lot of folks are left behind’

Texas receives the most small-business aid of any state, yet only a fraction of the...

www.houstonchronicle.com

Interesting. Lot

Wow. Just amazing. And Shake Shack, got $10 million, and has ties to Democrats. I wonder how many more can be linked back to both parties?

Certainly possible there are many. AND AGAIN - this brings us back to the real problem with the initial bill - very loose definitions on what constitutes a "small business" and poor oversight. And the Republicans absolutely opposed adding greater oversight or tightening the language. As soon as they began on the bills lobbyists flooded the capital to lobby for their share.

In the meantime a lot of genuine small business' can't get anything.

No, this article was written to try to blame Trump. If you deny it, you are lying. They chose only to highlight association with a single company as though he was sitting there at the bak approving the loan applied for. How convenient.

He put his name on the checks didn't he?

 

[Siete]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

In the United States, a "small business" is determined by the number of employees, not by revenue. In the United States, that number of employees is 500.

As for other companies not getting the loans, there could be any number of reasons why they didn't get them, and none of those reason will have anything to do with this one company getting a loan...

prolly 100's of small businesses that didnt make enough money to qualify for a loan -

 

[Coyote]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

i'd agree we need this type of oversight when handing out money. the issue is - how much and when it is too much and no longer a grant or loan but paying you to do something? i think most agree we need to be helping others. where it falls apart is by how much we should help. unfortunately since this is the government jacking with everyone, they get to pay. only THEY is US.

shake shack was lauded for giving back a $10mil loan. people went nuts. i read the story and saw they only did it *after* securing other funding. but here i'm torn. employment is employment. shake shack employs thousands, self employed, 1. where do you put your focus? this isn't to pick on anyone or say they don't deserve some help - not at all. just saying we have finite resources and not everyone who needs help, unfortunately, is going to get it.

this had to be done quick. i'd only really care *if* it was done TO GIVE his businesses the help and prioritized them over others. but given we've never been through this before, what process do you use to be "fair"? i'm betting pogos testicles there simply isn't a way TO be fair.

now to continue "to be fair" - i'm confident of that bet. its just a general rule to never gamble with your own genitalia.

where i agree with schiff is we need a post mortem. but ONLY IF that is done to learn. in a true "post mortem" there is no blame there is no assignment of responsibility. only where things broke down as a whole and as a whole how to improve and keep it from happening again. here is where i bet slades privates that schiff isn't about to do a true "post mortem" and is all out to attack.

again.

someone should kick him in the nuts.

again. and again. and again. he can put some of pelosis designer ice cream on them when done.

Agreed that an after action review does need to happen.... Each and every detail of the bailouts needs to be over with a fine toothed comb. Preferably by a non partisan entity, but I doubt there is such a thing in the time of President Trump.
It would be interesting to find out why a large part of the pork put into the stimulus was "necessary"
It would be interesting to see if claims of millions going out then went to various democratic campaign contributions.. To me that would be a big no no.
It would be interesting to see which of the companies that received loans really needed them or were they just hedging their collective bets?
Right now, there are so many loan applications filed and going through the process and by all news reports the fund is dry. It'll be interesting to see which small business' survive and which ones don't. I would hope the process to be fair, and the intent may have been for it to be so, but rarely is anything fair when politicians are involved.

Or Republican campaign donations.

How about political donations? Why just worry about the OTHER sides actions?

I have to think that mindset is why we are so dysfunctional.

Dude. I was replying to a post that specified only Democratic campaign donations. If you're going to go off on it, at least try to hit both sides.

 

[Coyote]

Trump has ties to huge numbers of people in business. ANd you found one that got money from a program designed to hand out money?


Shocking.

Key Terms for those suffering TDS (Trump Defense System): Independent Oversight.

Key Term for you, how about cutting and pasting the part of the article that showed any actual hint of anything wrong?

I haven't made a claim about wrong doing - yet. The point is - the Dems are right. This needs independent oversight, that you guys resist! People who need this money aren't getting it. The real small business!

Your walking it back is noted. I like the way you laid the ground work for coming back to it later, to smear Trump again. Where if you are called on how silly it is, you will drop it again. Until the next time.

Pretty smooth. I give you a 8.5 on that one, wally.


View attachment 326232

He's not being smeared - the OP is 100% accurate. That company has close ties with Trump. Now...do you want to make a bet that if it had close ties to Pelosi or Biden, you wouldn't be all over that? Don't lie. We both know the answer.

But this article and others that follow on also address the larger problem - which you conveniently ignore. And that is that the Republicans refused to allow for greater oversight or stricter language on who qualifies. As a result...well, you will see the fall out from it.

 

[iceberg]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

i'd agree we need this type of oversight when handing out money. the issue is - how much and when it is too much and no longer a grant or loan but paying you to do something? i think most agree we need to be helping others. where it falls apart is by how much we should help. unfortunately since this is the government jacking with everyone, they get to pay. only THEY is US.

shake shack was lauded for giving back a $10mil loan. people went nuts. i read the story and saw they only did it *after* securing other funding. but here i'm torn. employment is employment. shake shack employs thousands, self employed, 1. where do you put your focus? this isn't to pick on anyone or say they don't deserve some help - not at all. just saying we have finite resources and not everyone who needs help, unfortunately, is going to get it.

this had to be done quick. i'd only really care *if* it was done TO GIVE his businesses the help and prioritized them over others. or did trumps businesses also benefit from this (as thousands of other businesses did as well) and the left wants to bitch about it? they bitch about everything it seems. now, given we've never been through this before, what process do you use to be "fair"? i'm betting pogos testicles there simply isn't a way TO be fair. so did he?

now to continue "to be fair" - i'm confident of that bet. its just a general rule to never gamble with your own genitalia.

where i agree with schiff is we need a post mortem. but ONLY IF that is done to learn. in a true "post mortem" there is no blame there is no assignment of responsibility. only where things broke down as a whole and as a whole how to improve and keep it from happening again. here is where i bet slades privates that schiff isn't about to do a true "post mortem" and is all out to attack.

again.

someone should kick him in the nuts.

again. and again. and again. he can put some of pelosis designer ice cream on them when done.

So...you are already assigning a blame to Pelosi and Schiff? You are pinpointing them aren't you? Do you think the Republicans are capable of an honest post mortem these days?

A rushed bill isn't really a good excuse because some of this was addressed in what Pelosi wanted added to the bill.

Actually I was gambling with other people's testicle as to what these 2 will do. They are free to prove me wrong.

I am not assigning blame to none. I am saying I believe schiff movies are NOT to fix processes but to blame Trump.

You disagree? Great tell me why. If I'm not being clear, ask for clarification.

As for kicking schiff in the nuts, that's general satisfaction to me. No need to blame him for anything. I'll be glad to refrain from saying things like this as soon as you call out the Trump rhetoric and violent statements towards him.

 

[BS Filter]

Pelosi pretty much assured Democrats will lose the House with her delays of stimulus money and her two $24,000 freezers full of $12/pint ice cream.