Coronavirus in the United States - news and thoughts

This may be helpful
Federal Stimulus Package Makes Loans Available to Small Businesses to Help Keep People Employed

 

He told T what he wanted to hear. That is all that matters to T

 

Thanks.

To put the deaths per million number in perspective relative to the 100,000 deaths number - 300 deaths per million get the US to 100,000.

Spain and Italy are more than half way there. It’s a cumulative number. It doesn’t go down.

I’m not making any claims with any of the above. I’m putting the chart in the context of the 100,000 number now in the public consciousness.

 

Yeah. I know about that. (thanks nonetheless.)

I was referring to our plan to pay out of our reserves. The longer we can do that the further out we push the need for stimulus money which means the further out our staff gets paid. Fortunately because of our propensity for hurricanes we plan for long closings from time to time.

 

Eleven Liberty University students suspected have coronavirus after college president reopened | Daily Mail Online

 

Read the thread that just was moved over here from Swamp Gas. Posts as late as this last weekend along the same lines as: 1) no worse than H1N1 or the flu; 2) this is politically motivated by the MSM. We can see the real danger of policy motivated by clickbait falsehoods, lies, and non-science based decision making.

 

Dr. Dix is saying 200,000 would be a success now “if we do things almost perfectly,” which is horrifying.

 

See comment I. Post 4647.

 

so my wife and I were sick in Feb. A lot of the same symptoms and I went to Duke medical and had a strep and Flu test ran. Tested neg for both and was told it was some virus that they don't know what it was. That being said a lot of it lines up with Wuhan flu, I want to have my blood drawn to see if I have the antibodies, if I do I will donate my plasma as much as I can to try to squash this damn thing

 

That is an accurate summary of the article.

 

Liberty denies it.

Coronavirus: Liberty University disputes New York Times: 'False' news

 

An interestingly worded denial. We are not aware of the claims being true, therefore it is false?

 

Seems to me that's the administration prepping for claims of success (e.g. moving the goalposts), much like trump's 100K statement yesterday.

They could create more room by claiming that anything under 2.2MM means they did everything perfectly. Success!

 

It's a helluva deal - the forgiveness can run 70+% of the original loan amount. I'm working with three companies to file applications ASAP. based upon telephone conversations today, the SBA will issue final guidelines within 7-10 days of legislation being passed so hopefully, lenders will begin taking applications this Friday. If you have a small business (or know someone who does) need to get on this. April will be crazy for SBA lenders!!

Some key parts re business loans:

SEC. 1102. PAYCHECK PROTECTION PROGRAM.
``(F) Participation in the paycheck protection program.--In
an agreement to participate in a loan on a deferred basis under
paragraph (36), the participation by the Administration shall
be 100 percent.''; and
``(ii) the term `covered loan' means a loan made under
this paragraph during the covered period;
``(iii) the term `covered period' means the period
beginning on February 15, 2020 and ending on June 30, 2020;
``(viii) the term `payroll costs'--
``(I) means--
``(aa) the sum of payments of any compensation
with respect to employees that is a--
``(AA) salary, wage, commission, or similar
compensation;
``(BB) payment of cash tip or equivalent;
``(CC) payment for vacation, parental,
family, medical, or sick leave;
``(DD) allowance for dismissal or
separation;
``(EE) payment required for the provisions
of group health care benefits, including
insurance premiums;
``(FF) payment of any retirement benefit;
or
``(GG) payment of State or local tax
assessed on the compensation of employees; and
``(bb) the sum of payments of any compensation
to or income of a sole proprietor or independent
contractor that is a wage, commission, income, net
earnings from self-employment, or similar
compensation and that is in an amount that is not
more than $100,000 in 1 year, as prorated for the
covered period; and
``(II) shall not include--
``(aa) the compensation of an individual
employee in excess of an annual salary of $100,000,
as prorated for the covered period;
``(bb) taxes imposed or withheld under chapters
21, 22, or 24 of the Internal Revenue Code of 1986
during the covered period;
``(cc) any compensation of an employee whose
principal place of residence is outside of the
United States;
``(E) Maximum loan amount.--During the covered period, with
respect to a covered loan, the maximum loan amount shall be the
lesser of--
``(i)(I) the sum of--
``(aa) the product obtained by multiplying--
``(AA) the average total monthly payments by
the applicant for payroll costs incurred during the
1-year period before the date on which the loan is
made, except that, in the case of an applicant that
is seasonal employer, as determined by the
Administrator, the average total monthly payments
for payroll shall be for the 12-week period
beginning February 15, 2019, or at the election of
the eligible recipient, March 1, 2019, and ending
June 30, 2019; by
``(BB) 2.5; and
``(bb) the outstanding amount of a loan under
subsection (b)(2) that was made during the period
beginning on January 31, 2020 and ending on the date on
which covered loans are made available to be refinanced
under the covered loan; or
``(ii) Delegated authority.--
``(I) In general.--For purposes of making covered
loans for the purposes described in clause (i), a
lender approved to make loans under this subsection
shall be deemed to have been delegated authority by the
Administrator to make and approve covered loans,
subject to the provisions of this paragraph.
``(II) Considerations.--In evaluating the
eligibility of a borrower for a covered loan with the
terms described in this paragraph, a lender shall
consider whether the borrower--
``(aa) was in operation on February 15, 2020;
and
``(bb)(AA) had employees for whom the borrower
paid salaries and payroll taxes; or
``(BB) paid independent contractors, as
reported on a Form 1099-MISC.




SEC. 1106. LOAN FORGIVENESS.
(a) Definitions.--In this section--
(1) the term ``covered loan'' means a loan guaranteed under
paragraph (36) of section 7(a) of the Small Business Act (15 U.S.C.
636(a)), as added by section 1102;
(2) the term ``covered mortgage obligation'' means any
indebtedness or debt instrument incurred in the ordinary course of
business that--
(A) is a liability of the borrower;
(B) is a mortgage on real or personal property; and
(C) was incurred before February 15, 2020;
(3) the term ``covered period'' means the 8-week period
beginning on the date of the origination of a covered loan;
(4) the term ``covered rent obligation'' means rent obligated
under a leasing agreement in force before February 15, 2020;
(5) the term ``covered utility payment'' means payment for a
service for the distribution of electricity, gas, water,
transportation, telephone, or internet access for which service
began before February 15, 2020;
(6) the term ``eligible recipient'' means the recipient of a
covered loan;
(7) the term ``expected forgiveness amount'' means the amount
of principal that a lender reasonably expects a borrower to expend
during the covered period on the sum of any--
(A) payroll costs;
(B) payments of interest on any covered mortgage obligation
(which shall not include any prepayment of or payment of
principal on a covered mortgage obligation);
(C) payments on any covered rent obligation; and
(D) covered utility payments; and
(8) the term ``payroll costs'' has the meaning given that term
in paragraph (36) of section 7(a) of the Small Business Act (15
U.S.C. 636(a)), as added by section 1102 of this Act.
(b) Forgiveness.--An eligible recipient shall be eligible for
forgiveness of indebtedness on a covered loan in an amount equal to the
sum of the following costs incurred and payments made during the
covered period:
(1) Payroll costs.
(2) Any payment of interest on any covered mortgage obligation
(which shall not include any prepayment of or payment of principal
on a covered mortgage obligation).
(3) Any payment on any covered rent obligation.
(4) Any covered utility payment.
(c) Treatment of Amounts Forgiven.--
(1) In general.--Amounts which have been forgiven under this
section shall be considered canceled indebtedness by a lender
authorized under section 7(a) of the Small Business Act (15 U.S.C.
636(a)).
(d) Limits on Amount of Forgiveness.--
(1) Amount may not exceed principal.--The amount of loan
forgiveness under this section shall not exceed the principal
amount of the financing made available under the applicable covered
loan.
(2) Reduction based on reduction in number of employees.--
(A) In general.--The amount of loan forgiveness under this
section shall be reduced, but not increased, by multiplying the
amount described in subsection (b) by the quotient obtained by
dividing--
(i) the average number of full-time equivalent
employees per month employed by the eligible recipient
during the covered period; by
(ii)(I) at the election of the borrower--
(aa) the average number of full-time equivalent
employees per month employed by the eligible recipient
during the period beginning on February 15, 2019 and
ending on June 30, 2019; or
(bb) the average number of full-time equivalent
employees per month employed by the eligible recipient
during the period beginning on January 1, 2020 and
ending on February 29, 2020; or
(B) Calculation of average number of employees.--For
purposes of subparagraph (A), the average number of full-time
equivalent employees shall be determined by calculating the
average number of full-time equivalent employees for each pay
period falling within a month.
(3) Reduction relating to salary and wages.--
(A) In general.--The amount of loan forgiveness under this
section shall be reduced by the amount of any reduction in
total salary or wages of any employee described in subparagraph
(B) during the covered period that is in excess of 25 percent
of the total salary or wages of the employee during the most
recent full quarter during which the employee was employed
before the covered period.
(B) Employees described.--An employee described in this
subparagraph is any employee who did not receive, during any
single pay period during 2019, wages or salary at an annualized
rate of pay in an amount more than $100,000.
(4) Tipped workers.--An eligible recipient with tipped
employees described in section 3(m)(2)(A) of the Fair Labor
Standards Act of 1938 (29 U.S.C. 203(m)(2)(A)) may receive
forgiveness for additional wages paid to those employees.
(5) Exemption for re-hires.--
(A) In general.--In a circumstance described in
subparagraph (B), the amount of loan forgiveness under this
section shall be determined without regard to a reduction in
the number of full-time equivalent employees of an eligible
recipient or a reduction in the salary of 1 or more employees
of the eligible recipient, as applicable, during the period
beginning on February 15, 2020 and ending on the date that is
30 days after the date of enactment of this Act.
(B) Circumstances.--A circumstance described in this
subparagraph is a circumstance--
(i) in which--
(I) during the period beginning on February 15,
2020 and ending on the date that is 30 days after the
date of enactment of this Act, there is a reduction, as
compared to February 15, 2020, in the number of full-
time equivalent employees of an eligible recipient; and
(II) not later than June 30, 2020, the eligible
employer has eliminated the reduction in the number of
full-time equivalent employees;
(ii) in which--
(I) during the period beginning on February 15,
2020 and ending on the date that is 30 days after the
date of enactment of this Act, there is a reduction, as
compared to February 15, 2020, in the salary or wages
of 1 or more employees of the eligible recipient; and
(II) not later than June 30, 2020, the eligible
employer has eliminated the reduction in the salary or
wages of such employees; or
(iii) in which the events described in clause (i) and
(ii) occur.

 

The Federalist’s Dangerous Coronavirus Trutherism - The Bulwark

 

A bit of positive news.

 

Global deaths have ticked up to 19% of Closed cases. Possible good news is that it took roughly 20 more hours that it did to go from 17 to 18% Hope that trend continues.

CLOSED CASES
194,926
Cases which had an outcome:

158,700 (81%)
Recovered / Discharged

36,226 (19%)
Deaths

 

NY new numbers

66497 positive
9517 currently in hospital
2352 in ICU
4204 discharged from hospital (+632)

 

Agreed. We are putting our numbers together now. Still looking for affirmative guidance if participating in the PPP program excludes you from the EIDL program. Would like to be able to refi some debt under the EIDL program if possible