Tag: business

How business owners should handle the trend of COVID-19 surcharges

The Paycheck Protection Program (PPP) portion of the Coronavirus Aid, Relief, and Economic Security Act (CARES) was hailed as a revolutionary life line to small businesses that had to shutter their doors against the plague. Basically, the Feds said: Keep your expenses up, pay your staff so they don’t have to go on assistance, and not only will we loan you the cash to do so, so long as you can prove it was spent stimulating your business, we’ll not only forgive the loan, it won’t be taxed as income. Right said, Fed. But some sharp-eyed readers of the letter ... Read more

CVS opens 1,000 drive-through COVID-19 testing sites across 30 states

May 29 (UPI) — U.S. pharmacy chain CVS on Friday opened 1,000 additional COVID-19 drive-through test sites at locations across more than 30 states and in Washington, D.C. Most of the new test sites are located in communities with the greatest need for support as measured by the Centers for Disease Control and Prevention’s Social Vulnerability Index, company officials said. “It’s no small feat to operationalize 1,000 test sites in weeks under trying circumstances, which is a credit to our employees and their unwavering commitment to being part of the solution,” said CVS Chief Executive Larry Merlo. “Our testing strategy ... Read more

Uber introduces $50 Hourly rate option

May 29 (UPI) — Uber launched a new feature called Hourly that allows riders to book trips by the hour and add destinations within that time frame as needed, the company announced Friday. The ride-hailing company expects to introduce the option Tuesday in 12 cities — Atlanta; Chicago; Dallas; Houston; Miami; Orlando, Fla.; Philadelphia; Phoenix; Seattle; Tacoma, Wash.; Tampa Bay, Fla.; and Washington, D.C. The company tested the feature in locations across Australia, Africa, Europe and the Middle East. “While we’re encouraging riders to continue following local health guidelines and travel only as necessary, we’ve also been listening to their ... Read more

Tesla: Elon Musk qualifies for $770 million compensation

May 29 (UPI) — Tesla announced in its Thursday filing with the Securities and Exchange Commission that founder Elon Musk has qualified for a compensation package worth some $770 million after the company reached certain growth goals. The package, which was adopted in 2018, does not award Musk, who is also the founder of SpaceX, a salary but tied his compensation to the company’s financial performance. It was not clear in the filing if Musk exercised the option. “While our stockholders benefit from each incremental increase in Tesla’s performance and stock price, aligning their interests with Mr. Musk’s incentives, the ... Read more

Black Small Business Owner Breaks Down After Minneapolis Riots Consume His Life’s Work

A small business owner in Minnesota is reeling after the result of his life’s work was ravaged by rioters. Scores Sports Bar, a Minneapolis business owned by a man named K.B. Balla, was ransacked Wednesday night as ongoing protests turned violent. The destruction happened as demonstrations over the case of George Floyd, who was allegedly murdered by a Minneapolis Police Department officer, gradually gave way to rioting. A viral video of the encounter between Floyd and police shows an officer kneeling on the man’s neck despite repeated exclamations from bystanders — and Floyd himself — that he wasn’t able to ... Read more

Stocks recover after President Donald Trump’s announcement on Hong Kong

May 29 (UPI) — President Donald Trump‘s planned news conference on China shook up stocks early Friday, but the major indexes mostly recovered by the end the day after his announcement revealed no changes to trade with Beijing. The Dow Jones Industrial Average dipped more than 360 points in early Friday trading, but made up most of the losses to end the day down 17.53 points, less than 0.1 percent. The S&P 500 gained 0.5 percent and the Nasdaq Composite was up 1.3 percent at the end of trading. The three major indexes finished the month of May with strong ... Read more

2020 Pandemic. Did Any Business Have a Pandemic Plan? Did the Military?

USS Roosevelt As we watch major industries such as the airlines implode, I wonder how many had a plan for a pandemic? After seeing the utter debacle of the USS Roosevelt, I was scratching my head wondering if the Navy had any contingency plan for biological warfare, particularly regarding its most important and powerful element, the aircraft carrier? It’s as if everyone was taken by surprise. I did my first slideshow on How To Prepare For And Survive The Inevitable Pandemic around twenty years ago. I incorporated pandemic preparation and survival into the very first draft of The Green Beret ... Read more

Conspiracy Theories and the Civil War

In the months leading up to the Civil War, fear festered in southern living rooms and legislative chambers. Newspapers reported that the newly elected president, Abraham Lincoln, held a “hatred of the South and its institutions [that would] cause him to use all the power at hand to destroy our country” and that his vice president, Hannibal Hamlin, was not only sympathetic to the plight of black Americans but was himself part black—“what we call,” the editor of one Charleston, South Carolina, paper stated, “a mulatto.” Warnings circulated in pamphlets and the press that an antislavery federal government would inspire ... Read more

$10B for small business rescue loans to go to CDFIs, SBA says

May 28 (UPI) — The U.S. Small Business Administration said Thursday that $10 billion for a second round of small business rescue loans will be designated for Community Development Financial Institutions. The SBA made the announcement after consulting with the U.S. Treasury Department, a statement shows. The second round of funding is for the Paycheck Protection Program, designed to help small businesses keep workers on payroll amid the COVID-19 pandemic. CFDFIs are private financial institutions that focus on affordable lending to help low-income communities. “The forgivable loan program, PPP, is dedicated to providing emergency capital to sustain our nation’s small ... Read more

Dow slides 147 points as major indexes fall flat on Thursday

May 28 (UPI) — The major U.S. stock indexes closed flat on Thursday, ending the day with slight losses after gains earlier in the week. The Dow Jones Industrial Average closed down 147.63 points, or 0.58 percent and the S&P 500 dropped 0.21 percent. The Nasdaq Composite was on pace for six consecutive positive sessions on the strength of rising tech stocks but ultimately ended the day down 0.46 percent as stocks began to dip. Netflix stock closed down 1.54 percent, Amazon fell 0.39 percent, Microsoft dropped 0.23 percent and Google‘s parent company, Alphabet, declined 0.14 percent. Facebook, Amazon, Apple, ... Read more