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Post by Deleted on Mar 26, 2020 12:32:13 GMT
Senate passed the measure 98-0 last night, goes to the house, and the President will sign it by this weekend hopefully. Huge checks heading to most by April/May. For the unemployed some will get full or near full working wage unemployment benefits. Small businesses will get forgivable loans (wonder what attachments these loans will have). Anyway, a bridge that might get us over these trouble waters we find ourselves in.
Hopefully, our Hobby, our way of life will survive this. Stay safe.
What do you think?
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Post by ptc on Mar 26, 2020 13:37:53 GMT
Bring retired, not much of an implact for us. But, I feel good for small businesses like Wood's that are getting some much needed help.
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Post by Adam on Mar 26, 2020 14:33:38 GMT
I think it is good for the people who will benefit and need the money. I wont see a penny, and I am OK with that.
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Post by JDaddy on Mar 26, 2020 15:51:52 GMT
I find out today! Still working from home...
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Post by Joe Saggese on Mar 26, 2020 16:27:56 GMT
I wont get one but like Adam said, Im ok with that.
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Post by Deleted on Mar 26, 2020 16:57:10 GMT
Cheryl and I won't see any CV-19 money as we receive our pay as is. My son will be compensated as will Cheryl's daughter and her husband. Her brother Ken will also receive money as well. The stimulus packages introduced in North America are a good and necessary thing. This money will allow people to carry on and will help both of our economies somewhat. I am very happy to see small businesses receive help as well. They do a lot to drive the economy! Now if our governments can just do something about the profiteering that is going on that will go a long way to instill trust with our peoples.
Gary.
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Post by dennym57 on Mar 27, 2020 14:30:51 GMT
I'm retired so it doesn't affect me, but all the small business here need it. This is the slow time here so store's aren't making money anyway.
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Post by Country Joe on Mar 28, 2020 4:21:40 GMT
We are both retired so I don't think it will have any effect on us. I'm glad that those who have been negatively affected will be getting some help. Whatever happens, I was running trains tonight so I'm a happy camper.
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Post by Deleted on Mar 29, 2020 0:09:14 GMT
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Post by Deleted on Mar 29, 2020 0:54:05 GMT
Guesstimate states we'll receive $2,400. I wanna put it toward a few trains bills and the wife wants to put it toward a new fridge. Guess we're getting a new fridge ...
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Post by Deleted on Mar 29, 2020 3:14:07 GMT
I'm glad we have two fridges!
Gary.
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Post by Deleted on Mar 29, 2020 8:25:35 GMT
I'm glad we have two fridges! Gary. We also have two. One in the kitchen and one in the basement just outside the traincave. She wants one with french doors and freezer on the bottom.
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Post by Deleted on Mar 29, 2020 14:42:24 GMT
I'm glad we have two fridges! Gary. We also have two. One in the kitchen and one in the basement just outside the traincave. She wants one with french doors and freezer on the bottom. We have one of those,(SAMSUNG), great fridge. I highly recommend them! Gary.
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Post by Deleted on Mar 30, 2020 12:35:54 GMT
Small businesses will get forgivable loans (wonder what attachments these loans will have).
The attachment for "forgivable" is you have to pay all of your employees full pay. For doing that you can get a forgivable loan and tax credits to offset you payroll cost. It currently costs my company $40,000 a month to stay closed. That is the cost of nonoperating expenses ie., insurance, property taxes, and other fixed costs. Add the payroll in and it is $94,000 per month. We will not make a profit this year and the tax credits "may" carry over to next years. It is a joke for small businesses. If you do not pay payroll, you are can get a straight loan that has to be paid back at the prime rate plus .5% interest. By the time this is over we will be permanently closed or deeply in debt with depleted cash reserves. For my company, we have little debt and a solid reserve of money. We can hold our own for multiple months, but we will deplete our cash reserves which have been saved for ongoing depreciated upgrades. The airlines industry is going to get $45 billion in a flat out grant. Without grants to small business, I predict this will be the final end for Mom and Pop business. Most of them do not have the cash reserves to last very long. 75% will not reopen and we employee 50 million Americans.
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Post by ptc on Mar 30, 2020 13:21:17 GMT
"Without grants to small business, I predict this will be the final end for Mom and Pop business. Most of them do not have the cash reserves to last very long. 75% will not reopen and they employee 50 million people."
I agree, Wood, this has to be addressed. Too much at stake for too many people.
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