Coronavirus Recession
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irvinebullhousing
Well-known member
The stimulus 2.2T is really meant to push money to the rich get richer. Small business and little guys those few lucky will get some, the other are not getting any, or promises , there are more coming, but by then those small guys are bk and gone so those funds will not disbursed in time.
usctrojancpa
Well-known member
Kings said:
I've tried calling them and I think the issue is that that my personal and business accounts are linked with the same online ID as I am not getting the "I'm ready" pop up when I log in. I mean the loan would only be $20,833 for me as they cap out us self employed/independent contractor realtors to $100k annual amount so not the end of the world if I don't get it.
Variety via Yahoo Article: Los Angeles Mayor Eric Garcetti Announces Furlough Plan for City Workers
During a press conference on Sunday evening, Los Angeles mayor Eric Garcetti said thousands of city workers will need to be furloughed to lessen the economic impact on the city during the coronavirus crisis.
Garcettit said he?s planning to balance the city?s budget by furloughing the city?s civilian workforce for 26 days. Police officers, firefighters and workers at the Department of Water and Power will not be affected, among other professions, he said. The furloughs would amount to a 10% reduction in pay.
?Until now, it was the biggest economic blow of our lifetime, and it hurt. But there?s no way to sugarcoat this. This is bigger, it will hurt more,? he said during the press conference.
Most businesses across Los Angeles have been closed for weeks at this point, including restaurants, bars, movie theaters, museums, libraries and cultural centers. New federal guidelines were announced last week that indicate when some of those locations may start to open back up. The plan states that once cases of coronavirus start to have a downward trajectory and hospitals can treat patients without crisis care, then states can begin to reopen certain areas. However, strict social distancing rules will still be in place until the coronavirus threat significantly decreases.
https://www.yahoo.com/entertainment/los-angeles-mayor-eric-garcetti-013523376.html
During a press conference on Sunday evening, Los Angeles mayor Eric Garcetti said thousands of city workers will need to be furloughed to lessen the economic impact on the city during the coronavirus crisis.
Garcettit said he?s planning to balance the city?s budget by furloughing the city?s civilian workforce for 26 days. Police officers, firefighters and workers at the Department of Water and Power will not be affected, among other professions, he said. The furloughs would amount to a 10% reduction in pay.
?Until now, it was the biggest economic blow of our lifetime, and it hurt. But there?s no way to sugarcoat this. This is bigger, it will hurt more,? he said during the press conference.
Most businesses across Los Angeles have been closed for weeks at this point, including restaurants, bars, movie theaters, museums, libraries and cultural centers. New federal guidelines were announced last week that indicate when some of those locations may start to open back up. The plan states that once cases of coronavirus start to have a downward trajectory and hospitals can treat patients without crisis care, then states can begin to reopen certain areas. However, strict social distancing rules will still be in place until the coronavirus threat significantly decreases.
https://www.yahoo.com/entertainment/los-angeles-mayor-eric-garcetti-013523376.html
USCTrojanCPA said:
the whole thing is very much a logistical disaster. bofa may have removed the link temporarily as funding has been exhausted, but hopefully this week congress will pass the additional funding and you'll see the link again. otherwise, you might try to see if any of the prior emails they sent had a direct link that could get you back to your application/ppp page.
Business insider article: Oil plunges 321% into negative territory for the first time ever as demand evaporates
Oil prices plunged to a record low and into negative territory on Monday as uncertainty mounted about storage for excess supply.
WTI crude oil futures expiring in May plunged 321%, to -$40.32 a barrel, while Brent crude slid 9.5%, to $25.41 at intrasession lows.
The coronavirus pandemic has torpedoed demand for the commodity, with fuel use in cars and planes slumping.
https://markets.businessinsider.com...crude-oil-wti-falls-to-21-year-low-1029106364
Oil prices plunged to a record low and into negative territory on Monday as uncertainty mounted about storage for excess supply.
WTI crude oil futures expiring in May plunged 321%, to -$40.32 a barrel, while Brent crude slid 9.5%, to $25.41 at intrasession lows.
The coronavirus pandemic has torpedoed demand for the commodity, with fuel use in cars and planes slumping.
https://markets.businessinsider.com...crude-oil-wti-falls-to-21-year-low-1029106364
irvinebullhousing
Well-known member
?Bitcoin = Shitcoin? Jack-Rabbits.
irvinebullhousing
Well-known member
The totally awesome 80?s, man, so many good memories from that decade. In 20 years I will look back at 2020 being the worse time ever in our modern history, and it just started.
Some may say people will forget but I still remember Desert Shield/ Desert Storms, 9/11, like yesterday. This event isn?t going to be forgotten for this entire generation.
Some may say people will forget but I still remember Desert Shield/ Desert Storms, 9/11, like yesterday. This event isn?t going to be forgotten for this entire generation.
Marketwatch Article: Its going to be brutal, billionaire Mark Cuban says of economys recovery from coronavirus, and theres no way to sugarcoat it
The entrepreneur, who boasts a net worth of $4.3 billion, according to Forbes, says that challenges for businesses are manifold and include additional costs that will be incurred to sanitize and retrofit spaces as nearly shutdown economies attempt to reboot after a virus-imposed hibernation.
That said, Cuban believes that small businesses may require at least a third installment of funds to operate through the crisis and is looking to invest in companies that sit outside the criteria for obtaining government-back loans, he said.
https://www.marketwatch.com/story/i...ery-from-coronavirus-2020-04-22?mod=home-page
The entrepreneur, who boasts a net worth of $4.3 billion, according to Forbes, says that challenges for businesses are manifold and include additional costs that will be incurred to sanitize and retrofit spaces as nearly shutdown economies attempt to reboot after a virus-imposed hibernation.
That said, Cuban believes that small businesses may require at least a third installment of funds to operate through the crisis and is looking to invest in companies that sit outside the criteria for obtaining government-back loans, he said.
https://www.marketwatch.com/story/i...ery-from-coronavirus-2020-04-22?mod=home-page
irvinehomeowner
Well-known member
The crude oil issue is going to be far reaching.
Heard on the radio there are 24 tankers just waiting in Long Beach as floating storage. Prior to the pandemic, there would only be 5 or 6 tankers out there at a time.
Heard on the radio there are 24 tankers just waiting in Long Beach as floating storage. Prior to the pandemic, there would only be 5 or 6 tankers out there at a time.
irvinebullhousing
Well-known member
Good idea for money making on this route.
EPA will come to Irvine fast looking for us.
EPA will come to Irvine fast looking for us.
US weekly jobless claims hit 4.4 million, bringing 5-week total to more than 26 million
https://www.cnbc.com/2020/04/23/weekly-jobless-claims.html
https://www.cnbc.com/2020/04/23/weekly-jobless-claims.html
Gap warns it might not have enough cash for operations, as it stops paying rent
Gap said it must take further actions to find liquidity over the next 12 months, such as additional job cuts and new debt financing.
The company said it did not pay rent on its stores in April, which amounts to roughly $115 million in monthly expenses in North America.
https://www.cnbc.com/2020/04/23/gap...h-for-operations-as-it-stops-paying-rent.html
Spend your gap gift cards ASAP?
Gap said it must take further actions to find liquidity over the next 12 months, such as additional job cuts and new debt financing.
The company said it did not pay rent on its stores in April, which amounts to roughly $115 million in monthly expenses in North America.
https://www.cnbc.com/2020/04/23/gap...h-for-operations-as-it-stops-paying-rent.html
Spend your gap gift cards ASAP?
sgip
Well-known member
The mind boggles at how thinly capitalized all these companies are - or are they BS'ing as Harvard was, trying to get some of that sweet, sweet government cash instead of using their own hoard of $$$?
A 30-60 day interruption of business and off to bankruptcy court they go? It's completely understandable for restaurants, Mom and Pop companies as well as a movie theater chain, but a global brand like The Gap to be in this position? Imagine the chaos when a 7.8 hits somewhere in California and wipes out a large number of cities. YOW!
My .02c
A 30-60 day interruption of business and off to bankruptcy court they go? It's completely understandable for restaurants, Mom and Pop companies as well as a movie theater chain, but a global brand like The Gap to be in this position? Imagine the chaos when a 7.8 hits somewhere in California and wipes out a large number of cities. YOW!
My .02c