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View Poll Results: What will happen after the Corona epidemic?
The population of Asia will be reduced, accelerating the sustainable development. 6 19.35%
The major civilizations will collapse. 6 19.35%
The human race will end. 19 61.29%
Voters: 31. You may not vote on this poll

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Old 04-02-2020, 06:04 AM   #586
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After the coverage of the arrival of the comfort in NY, I think everybody was aware of the Mercy in LA. Admittedly I first confused this with the comfort, but still... calling attention to well-covered events through near-terrorist acts seems a weird choice.

Last edited by jedidia; 04-02-2020 at 06:06 AM.
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Old 04-02-2020, 02:28 PM   #587
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U.S. weekly unemployment numbers are released every Thursday morning.

Today we find that 6.6 million made new unemployment claims last week.
Doubling the 3.3 million from last week's report, which in turn was several times higher than the previous record.

Last edited by Quick_Nick; 04-02-2020 at 05:58 PM.
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Old 04-02-2020, 07:02 PM   #588
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Found some good information about federal loans & help available for small businesses in the US. Here are some excerpts:

Q&A: How to get aid for a small business hit by virus crisis


They can be, if they’re used to retain or hire workers. Starting Friday, the Small Business Administration is guaranteeing $349 billion in potentially forgivable loans under the rescue package. A business with up to 500 employees, including owners who work solo and freelancers, can borrow up to $10 million to be repaid over two years at an annual rate of 0.5%. The money that’s used to pay salaries can be forgiven, and a portion of money used for rent, mortgage interest and/or utilities can be at least partially forgiven. Payments are deferred for six months.

You technically could get the full amount of the loan forgiven. But if you cut jobs — say you had 10 employees, let them go, and hired back only five — the amount of loan forgiveness will be reduced, and you’ll have to repay some.

But a caveat from the government: Because so many owners are expected to take advantage of the loans, it’s anticipated that no more than 25% of the forgiven amount may be for things other than payroll — rent, mortgage interest and utilities. So there’s a good chance you will have some repayments ahead.

You can learn more about the loans at https://www.sba.gov/funding-programs...on-program-ppp.

The government says this will be a fast, streamlined process — some companies could get money the same day, not like the weeks it takes when applying for a traditional SBA loan. You can apply through any federally insured bank, credit union or farm credit system institution, not just a traditional SBA lender. Most businesses are expected to apply online, through a financial institution’s website.

You don’t need collateral or a personal guarantee. But you’ll need to document your payroll, rent, mortgage interest and utilities expenses. The payroll portion of the loan is based on the monthly average of what a company paid employees during the year prior to the loan being granted.


The government will calculate how much of a loan will be forgiven after June 30. The program covers the period from Feb. 15 through June 30 and owners will need to document how many workers they employed during that time and how much they were paid.

If you’ve laid off workers, you have until June 30 to rehire them — but the sooner you rehire and start paying them, the larger your loan forgiveness will be.

The Federal Reserve is working on a program to provide loans directly to small businesses. The details have not been announced yet.
Individual states, counties and cities may have loans or grants for small businesses. And those that have not yet announced any programs may yet create them — the outbreak has not yet reached its peak. Check online with your state or local agencies that support small businesses.


Yes. The rescue package provides for unemployment benefits for freelancers and independent contractors who haven’t qualified for such help in the past. So millions of people, including wedding photographers, graphic artists and writers, who have lost gigs or projects can get unemployment benefits. They’re also eligible for paycheck protection loans — but if they have both types of loans, they cannot use disaster loan money to cover payroll.
More information is in the full article.
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Old 04-02-2020, 11:03 PM   #589
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My brother was laid off this week. Lots of lessons learned.
The unemployment websites and phone lines are overwhelmed and unavailable.
His unemployment payment will only consider what he made in 2018 so it will be much smaller than if it considered 2019.
He must wait on his unused Paid Time Off to get cashed out before receiving assistance.

And CRUCIALLY, we learned that the CARES Act clauses covering 401k withdrawal (3 years to pay it back, up to $100k) do NOT require plan administrators to allow these CoronaVirus Distributions.
His plan has not allowed them yet, so he would take a penalty if he withdrew from his retirement savings.

Last edited by Quick_Nick; 04-02-2020 at 11:07 PM.
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