32 Millionaire CEOs Who Scooped Up Taxpayer Money Meant for Struggling Small Businesses

[ancianita]

https://popular.info/p/32-millionaire-ceos-who-scooped-up

The following is a listing of companies, as of April 21, that received a forgivable loan from the Paycheck Protection Program and have paid their CEO more than $1 million in total compensation. The CEO compensation is based on the latest data available, which is either from 2018 or 2019.

https://cdn.substack.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8309ff05-5b6d-47fd-880b-560d10416303_600x802.png

[Bernardo de La Paz]

1. Boycott list?

[Hoyt]

2. All of those companies together got less than 0.08% of the PPP available funding. If they don't keep

employees on, they'll have to pay it back. I suspect some of those companies may have to pay it back before even using it.

[ancianita]

3. Good to know. But it's more important that they're Big companies with millionaire CEO's.

It's probably most people's view that they shouldn't have gotten one cent.

Unless the House investigates them -- which, given the current lack of meeting except to vote on rescue packages -- I doubt that any of them will be made to pay it back if their legal teams offer some loophole.

[Chainfire]

4. My son's small business, an LLC

with just 6 employees couldn't get a dime of either a local, a state, or the Federal program. (too small to deal with) They closed about a month ago, a week or so before they would have been ordered to close, out of an abundance of caution. However, they will continue to pay for their rent and lights out of....wait for it...The company's savings. My boy told me he could go for a year without being in trouble! That is because my son did not spend every damn dollar he made in the good times. Apparently big business doesn't do that because they don't have to. Uncle Sugar is always waiting around the bend to bail them out. Too big to fail they call it.....

If my son had had 499 employees at each of 5 locations he could have made out like a bandit from the "small business assistance."

Such is life in our Corporatocracy.