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Big chains need to return PPP fundsWhile mom-and-pops struggle to get a loan through the Payroll Protection Program (PPP), a number of sizable restaurant chains are cashing multimillion-dollar checks from the relief initiative, a cornerstone of federal efforts to help small businesses through the COVID-19 crisis. The parent of the Ruth’s Chris steakhouse chain collected $20 million by applying through each of two subsidiaries. Taco Cabana qualified for a $10 million loan, and Potbelly Sandwich Shop landed a $10 million loan, the largest advance permitted per applicant under the PPP. Kura Sushi, a 25-unit sushi chain, qualified for a loan of just under $6 million. CEO Hajime Uba told investors Tuesday that a portion of the money will be used for owed rent, as permitted under the PPP program. The funds will also be used to continue paying the chain’s chefs, who were not furloughed as the chain temporarily closed all of its restaurants. Management decided that Kura’s menu doesn’t lend itself to takeout and delivery, but opted nonetheless to keep the kitchen staff on payroll. “We made this decision because we believe the near term extent of retention will be lesser than the cost of retraining staff and loss of sales from delayed reopenings,” Uba told financial analysts. “We want to make a best faith effort to use the funds as intended, which is keeping people on payroll,” said Benjamin Porten, Kura’s investor relations manager. “So keeping that in mind as well as the regulations surrounding forgiveness, our labor costs are higher than they would be if we hadn't applied for the loan.” The PPP was part of the $2.2 trillion COVID-19 relief package, popularly known as the CARES Act, that was enacted in late March. The program calls for lending $349 billion to small businesses through the U.S. Small Business Administration (SBA). A small business is defined as an establishment that employs fewer than 500 employees at that one location, a qualification included specifically to help restaurants that are part of a chain or multiconcept group. Places that fit the bill can borrow up to 2.5 times their payroll, up to a maximum amount of $10 million. The loans come due in two years and carry an interest rate of 1%. But the CARES Act specifies that the loans will be forgiven if the borrower meets certain criteria, including spending 75% of the funds on payroll. The program began on April 3 and almost immediately ran into problems. Banks complained that they were not provided with guidelines for screening potential borrowers. The volume of applications crashed lenders’ websites. Places ran out of money in short order. SBA Jovita Carranza and U.S. Treasury Secretary Steve Mnuchin said in a joint statement issued Wednesday that it "the SBA has processed more than 14 years’ worth of loans in less than 14 days...The high demand we have seen underscores the need for hardworking Americans to have access to relief as soon as possible. We want every eligible small business to participate and get the resources they need.” Some restaurant operators have complained about a requirement that furloughed employees be rehired within eight weeks of the loan being awarded. Many establishments are completely closed or offering only takeout and delivery. Why ramp up staffing if sales are low or nonexistent? Yet failing to do so will threaten the forgiveness of their loans. The National Restaurant Association and other industry groups have voiced hopes that restaurants will be provided 60 to 90 days to rehire. Ruth’s Hospitality Group, Potbelly, Taco Cabana and Kura were required to reveal their receipt of the loans because all four are publicly owned and obliged to report material developments to investors. Privately owned chains are not obliged to post notice if they qualify for PPP loans. The approach taken by Ruth’s Chris’ parent—having subsidiaries each seek a loan—is likely to be followed by other big restaurant companies, according to Stifel, a brokerage and investment banker. It aired the possibility in a communication to clients that Chili’s Grill & Bar parent Brinker International might take that route to secure $100 million in PPP loans. Brinker is also the parent of Maggiano’s Little Italy. Taco Cabana is a subsidiary of Fiesta Restaurant Group, which also owns the Pollo Tropical brand. The SBA has not revealed how much of the original $349 billion has been lent to date. Senate Majority Leader Mitch McConnell has already proposed the appropriation of another $250 billion for the program, but Senate Democrats blocked the measure, saying they would prefer a follow-up that provides assistance to hospitals and states. Rep. Nancy Pelosi, speaker of the House of Representatives, and Sen. Chuck Schumer, the Democratic leader in that chamber, have since suggested that an additional $500 billion be channeled into the program. “We urge Congress to appropriate additional funds for the Paycheck Protection Program—a critical and overwhelmingly bipartisan program—at which point we will once again be able to process loan applications, issue loan numbers, and protect millions more paychecks," Mnuchin and Carranza said in their joint statement.61 of 100 SignaturesCreated by Chad McCaslin
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Equitable Access to Rental HousingAbout 78,000 adults have felony convictions in the Charlotte metropolitan area. Local citizens with misdemeanor convictions adds about 195,000 people with records. For someone with a criminal record, a chance to get back on track is more difficult because they are denied a safe place to live before the rental application is completed. It is an established fact that policies ensuring those returning from incarceration have access to reliable and safe housing help reduce recidivism rates. A “Ban the Box” policy that prevents landlords from asking potential renters about their criminal background until it is determined the candidate is qualified to rent will ensure a fair and equitable process for all people applying to rental housing. Full Ordinance Proposal: https://www.dropbox.com/s/15j6a7f3qmtqrnc/FINAL-DRAFT-Equitable Access to Rental Housing Proposal.docx?dl=0652 of 800 SignaturesCreated by Reentry Housing Alliance
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Trump must resign!President Trump is an existential threat to this country, democracy, and society. We will remain in danger as long as he holds this office. He must resign immediately.125 of 200 SignaturesCreated by Ryan Berg
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We are Essential TooThe survival of the independent beauty professionals is at risk. We are facing grave financial hardship. It is imperative that salons and spas are reinstated. Most of this industry is self-employed, in order to feed our families, pay our bills, and generally survive we need to work. We are not given Paid Time Off or Insurance Benefits nor unemployment.15 of 100 SignaturesCreated by Lesli Hill
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No stimulus without helping people in needTime is running out to stop Congress from making a disastrous deal that gives Donald Trump almost everything he wants. Congress is debating the next stimulus bill, and over the weekend news broke that Democratic leaders might agree to a bill that doesn't include funds for the unemployed, doesn't include help for the postal service, doesn't provide vote by mail for the November election. That's bad enough. But the bill also doesn't include any funds for state and local governments. Trump wants to hold that funding hostage to force states to cave to far right protestors and end their lockdowns early, even if it's unsafe. And Democrats appear willing to let him. We have to stop this. Now.28 of 100 SignaturesCreated by Demand Progress
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Petition in Support of Keeping Jim Bridenstine as Administrator of NASA in a Biden AdministrationA robust, energetic, and thriving NASA is vital if we are to reach our nation's goal of returning to the Moon and setting foot on Mars. Continuity is desperately needed in long-term strategy, direction and leadership if we are to stay on target for Mars. We, the broader bi-partisan and non-partisan Space community, feel it is our duty to speak up and state our support for keeping Jim Bridenstine as Administrator of NASA in the event Joe Biden wins the next Presidential election for the following reasons: 1) Bridenstine has been one of the most qualified appointees in the current Administration. He has done more for maintaining NASA’s prestige and reputation with the public than any Administrator in recent memory. 2) By communicating with and inspiring the public, as well as keeping the Agency’s bureaucracy running smoothly, Bridenstine has won the respect and admiration of many across the Space community, including those who initially were skeptical of his appointment. 3) He achieves this through an evident and sincere passion for the exploration of space, not only in extending human presence but also for the progress of science itself. 4) His experience as a former politician and former member of the House Committee on Science, Space, and Technology gives him an ability to work within Congress to accomplish priorities, winning over not just politicians but the public at large. 5) Beyond all else he has shown a profound ability to hold contractors to account, from both old and new space, ensuring the safety of American astronauts as our country returns to launching from US soil in US rockets. We the undersigned appeal to Joe Biden and his transition team to keep Bridenstine’s passionate and effective leadership so we can maintain consistency, and thus continue the progress that has been made in our efforts to expand our understanding and exploration of all that outer space holds for humanity.77 of 100 SignaturesCreated by Adam Taylor
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Open New York State tanning salonsThere are many different types of people that use tanning to benefit them, it helps treat and heal eczema, people use it as therapy, people use it to treat depression and some people use it to manage MS pain. Different studies has shown the UV light kills viruses.53 of 100 SignaturesCreated by Heather Wood
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Recognize Tanning Salons as compliant and essential. REOPEN IN FLORIDA.As stated above, these services that are provided are regulated in an isolated, sanitized environment. Members of the community utilize the tanning to make them feel better, aid specific skin ailments, and boost their health. Please consider the following health benefits that have been linked to UV light treatment : - sustain mental health - psoriasis, eczema, & other skin conditions - Vitamin D (immunity boosting) - S.A.D. - Anxiety/Depression Relief - Thyroid Stimulation19 of 100 SignaturesCreated by Chloë Rimmer
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Help our 2020 Grad Students Graduate with a ceremonyOur children have worked very hard to complete their education and deserve a graduation ceremony. They have had so many things taken away from them ie... school trips, grad night and last half of school year. Let’s help them with a graduation ceremony that they all deserve.31 of 100 SignaturesCreated by Susan Todd
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Massage Therapists. One client at a time.The survival of our businesses as we are facing a grave financial hardship. Most massage therapists are self employed so we owe taxes delaying stimulus checks and unemployment that is being offered to us during this situation. It could take months to receive any income outside of our occupation putting us at risk of financial devastation that we won't be able to recover from.14 of 100 SignaturesCreated by Cynthia Kapaska
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Texas tattoo shops open by April 27Tattoo artists, body piercers, and shop owners are suffering due to these shutdowns. While some have financial help due to the COVID-19 relief bill, it’s still not enough to keep these businesses running and plenty are already going out of business due to these shutdowns. Families are in deep financial hardship, and $1200 is not enough for these shop owners to keep their business going as well as for their homes to be paid. Small business loans are available; however with the increase in these loans many are not getting the help they need, and paying back those loans will only make it worse for these businesses to thrive.156 of 200 SignaturesCreated by Jamie Davis Hass
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Open Texas Hair salonsSo that we can get the economy started again and so that hundreds of thousands of licenced professionals can get back to work and off unemployment. And to help with the emotional well being of individuals effected by this quarantine.24 of 100 SignaturesCreated by Abel Ramon-Miller