LOCKED: Coronavirus

posted by O-Trap

At the lower levels, yes.

I think they're trying to account for the not-as-low levels as well, since I believe unemployment is capped at a certain point.  For example, if you were balling along at a $520,000 salary, I don't think they're still offering $5K a week before the $600 kicker.  I don't recall what the cap is, but I believe there is one.
 

posted by iclfan2

This program should help a lot of small businesses. I have been looking into it for my company too. My question is, what happens if you already laid people off (we didn't). Do they lose this free loan opportunity?  

They don't lose eligibility as long as they hire back all employees that they laid off as a result of the crisis.

And if they keep all those employees employed for (I think) a year after the loan, whatever remains on it is forgiven anyway.  It gets switched to a grant, I guess.  Also, I believe the payments on the loan are deferred for at least six months.

I'm actually surprised at how little press it's gotten.  I only know about it because my mom is a Relationship Manager at Key Bank, so they've been basically calling all small business accounts and getting them set up with as much of what's available as possible.

If you have a business banker, I recommend calling them.  If not, at least call up your bank and talk to them about options.

 

It is an 8 week look-back period from the loan origination date.  If the amount borrowed is spent on the prescribed expenses, i.e. payroll, utilities etc..then the loan is forgiven (free of the tax on the forgiveness of debt). The forgiveness can be reduced based on certain factors.

posted by QuakerOats

 

It is an 8 week look-back period from the loan origination date.  If the amount borrowed is spent on the prescribed expenses, i.e. payroll, utilities etc..then the loan is forgiven (free of the tax on the forgiveness of debt). The forgiveness can be reduced based on certain factors.

Gotcha.  Good to know.  Thanks for clearing that up.

posted by QuakerOats

 

It is an 8 week look-back period from the loan origination date.  If the amount borrowed is spent on the prescribed expenses, i.e. payroll, utilities etc..then the loan is forgiven (free of the tax on the forgiveness of debt). The forgiveness can be reduced based on certain factors.

PS – this is a YUGE program that will greatly help employers retain employees so they are there when we get through the knothole and need to ramp back up.

posted by O-Trap

Found some decent info on it:
https://eig.org/news/understanding-the-paycheck-protection-program

Thanks. We've been in contact our bank as well as our tax accountant. We were first worried about eligibility but I think we are good now. It's a good thing to bc we are 100% tourism based and our income in the future won't be there. We were worried about having to lay-off or go to 3 or 4 day weeks. 8-10 weeks of full forgiveable loans should help out a ton of small businesses. People should really apply as soon as possible too, we are going to try and be able to on Friday when the application process can be received by the SBA.

posted by O-Trap

Gotcha.  Good to know.  Thanks for clearing that up.

Still some moving parts…more later today/tomorrow

posted by BR1986FB

I'm with you brother, Call me "Mr Tin Foil" all you want but I'm seeing too many stories about doctors from China being detained at Detroit, Los Angeles, etc airports with vials of H1N1 & SARS in their briefcases by the FBI. One in Los Angeles right about the time this broke in Wuhan, before we knew about it.

Back in September students from China were walking around at Mount Union with these face masks on before Covid was even a thing.

China got drilled in the ass by Trump and I think this was their best "payback" and attempt to become dominant.

I don't believe this pandemic was any accident and I'll stick by my stance of "fuck China.

https://www.zerohedge.com/geopolitical/chinese-biological-experiments-infect-humans-coronavirus-exposed-2015-italian-state

posted by QuakerOats

 

 

https://www.zerohedge.com/geopolitical/chinese-biological-experiments-infect-humans-coronavirus-exposed-2015-italian-state

 

 

 

Yea they are going to create a timeline for this thing and it will be in October of 2019 or earlier that it starts showing up outside of China.  The truth will come out soon.

A projected curve of new cases from Ohio State University predicted Ohio would have 533 new coronavirus cases today. The state reported 348 new cases, putting Ohio below the Ohio State projection curve for three days in a row.

So there’s some good news? Three straight days where new cases didn’t grow as projected? Just wonder if we’re kicking the can down the road, though. If we continue to keep things to a dull roar and start to open back up in say a month, then do we experience the onslaught? 

posted by QuakerOats

 

 

https://www.zerohedge.com/geopolitical/chinese-biological-experiments-infect-humans-coronavirus-exposed-2015-italian-state

 

 

 

If China sends a pandemic our way on purpose, they end up suffering economically as much, if not more than we do.  That makes absolutely zero sense.  It's the same rational as those who said the Jews did 9/11 to make Israel safer.  

Olsterholm debunked that with the quickness on Rogan. He's rather knowledgable, so I'll just believe him.

Let's leave the wacko shit to the Politics Forum.

posted by Automatik

Olsterholm debunked that with the quickness on Rogan. He's rather knowledgable, so I'll just believe him.

Let's leave the wacko shit to the Politics Forum.

Why do we need to have the wacko shit in any forum?

I highly doubt China infected their own country to fuck with the world's economy, however China is no doubt taking notes for the future.  Currently we have one our most important aircraft carriers (USS Teddy Roosevelt) is currently stuck in Guam taking care of sailors who tested positive.  I hope the DoD learns their lesson from this, because their response to all of this (at least the Navy) has been unimpressive.

What China did do is unleash this thing, covered it up till it got out of hand, and then killed thousands of people if not hundreds of thousands.

Right now the conspiracy theory crowd is going bonkers over it.  

posted by Spock

What China did do is unleash this thing, covered it up till it got out of hand, and then killed thousands of people if not hundreds of thousands.

Right now the conspiracy theory crowd is going bonkers over it.  

Those people will go bonkers over any major event that happens. 

posted by Spock

What China did do is unleash this thing, covered it up till it got out of hand, and then killed thousands of people if not hundreds of thousands.

Right now the conspiracy theory crowd is going bonkers over it.  

Curious.... what is the accuracy rate of the conspiracy theory crowd? 

posted by ptown_trojans_1

Curious.... what is the accuracy rate of the conspiracy theory crowd? 

In their opinion? 100%.

posted by OSH

In their opinion? 100%.

I don't think China covering it up is a crazy conspiracy.  Do any of you all trust anything they say right now?  I think accusing them of using this as a weapon is a crazy conspiracy.  I know they don't really give a fuck about hurting their people, but it doesn't add up to why they would want to hurt their own economy. 

I can potentially buy the theory that this was accidentally unleashed from one of their virology labs. I cannot buy that they did it intentionally.

But, yes, I don't believe anything coming from CCP state media.

posted by BR1986FB

A doc in NY had 100% success rate treating 350 patients with Hydroxychloroquine with Z-Paks

Sorry I'm late to the party. Just wanted to comment on this and say, holy fuck that is a terrible site.

If anyone actually wants to review drug-specific info, outcomes, etc... The SIDP is posting informational reviews of various agents that have been theorized to play a role in COVID treatment: https://sidp.org/page-1543429.

Someone else had posted about a site that allowed you to look at county-specific data. I'm not sure if this is the one, but https://infection2020.com/ allows you to see prevalence, total positives, and deaths. Unfortunately, 24-hour trends are only listed at the national level.

Unrelated to the above, my wife and I will benefit greatly from the 6 months pause on interest to public loans; more importantly, we don't have to make payments during those 6 months, and our Public Service Loan Forgiveness clock will keep ticking. Just hit the half-way point and I'm really hoping it will still be around in 5 years.