My world: Everyone at the software companies are working remotely. The chocolate factory shut down yesterday due to not be considered an essential business. The chocolate elve had already left due to health concerns. I handle all the commercial rentals myself so no impact:
I don't intend to lay-off anybody...if this stretches into June or July...then we may look at cutting salaries by 25 to 50%. With the $1,200 everyone is getting already from the gov, and the 4 month unemployment (+$600/week additional), if we have to do layoffs, then the Team will not be totally without funds.
I've seen it reported pretty widely this morning. Apparently the Senate is meeting again this afternoon and may push again for unanimous consent to add $250B more to the pool.
I've had my application in since April 4th, yet to receive any sort of final confirmation from my bank that I've been approved. Uploaded requested documents over a week ago and radio silence since them. Hoping the money gets restocked. [Reply]
Originally Posted by blake5676:
I've seen it reported pretty widely this morning. Apparently the Senate is meeting again this afternoon and may push again for unanimous consent to add $250B more to the pool.
I've had my application in since April 4th, yet to receive any sort of final confirmation from my bank that I've been approved. Uploaded requested documents over a week ago and radio silence since them. Hoping the money gets restocked.
I know that originally they were talking about that if the money ran out that they could pass to put more in. Hopefully they can get it done quickly. [Reply]
Originally Posted by DJ's left nut:
Yeah, there's 'my staff' and then there's 'my staff'...
I've been picking up meals for my finance department peeps a couple times/wk just to thank them for keeping things running. There are 9 people in the dept but most are working from home. 3 of them are coming in and physically writing/posting checks, directing work and cracking whips when needed on the folks back home.
They've been invaluable. More amazingly, one of them put in notice 8 weeks ago (she's moving to Texas) so she knows she's gone around May 1 but even still says she'll probably stick around for awhile to keep helping out. How incredible is that? She's keeping here eye on our long-term prospects knowing full well that she's just not gonna be here for it.
The people you'd go to war with show themselves so damn fast when stuff like this pops up.
Yep. My biggest issue has been making sure everyone is safe, seeing as I'm having to spin a drill with water spraying it at 40k rpm. I've got all the PPE's i have been advised so we should be fine. But the girls have all been warriors about it so I'll do whatever i can to take care of them.
It sucks that iI coudln't get it for my other office, but the girls there are doing what they can and have to. I'm working there some seeing emergencies so i've resorted to paying them what i can when i can but they're doing the unemployment thing. [Reply]
Originally Posted by Mr. Plow:
Hope you hear something soon. We had enough to get through a couple months and I had some alternate ways to make things work if needed what we had wasn't going to make it, but it is a relief to hear that the money should be there today.
Also - just want to say thanks to DJ. I had not thought about putting this into a new, separate account until you mentioned it. Thanks for the great idea man! Should make tracking so much more easy when we need to account for everything.
And in a minor miracle, the bank got the account set up and paylocity got their software turned in 48 hours so the first payroll (drawn yesterday) came out of the new account.
We've done some minor miracle shit on this thing. Some excellent work in many ways by us, but in a lot of ways we had excellent business partners that have come through in a big way. [Reply]
Originally Posted by SAUTO:
Well mine got approved today.
Long story as to why it took so long. But I always seem to have crazy shit happen to me. Like the craziest.
What I don't know (and what I don't think anyone knows right now) is if the taps are dry altogether or if they 'approved' funds have been earmarked already and as such, pulled from the pool even if they haven't been distributed yet.
So the question remains - if you're approved, is there still money earmarked for you that will get sent your way shortly? Or is approval largely an administrative measure and they now have to wait for the treasury to replenish the till before they can submit it?
Originally Posted by DJ's left nut:
What I don't know (and what I don't think anyone knows right now) is if the taps are dry altogether or if they 'approved' funds have been earmarked already and as such, pulled from the pool even if they haven't been distributed yet.
So the question remains - if you're approved, is there still money earmarked for you that will get sent your way shortly? Or is approval largely an administrative measure and they now have to wait for the treasury to replenish the till before they can submit it?
I really couldn't tell ya.
They say if it’s approved the money was there for it. They won’t accept applications now.
Originally Posted by DJ's left nut:
And in a minor miracle, the bank got the account set up and paylocity got their software turned in 48 hours so the first payroll (drawn yesterday) came out of the new account.
We've done some minor miracle shit on this thing. Some excellent work in many ways by us, but in a lot of ways we had excellent business partners that have come through in a big way.
That's one issue that I haven't gotten handled yet. Payroll goes out tomorrow, and we're going to issue that one as normal. Since I'm the one that does payroll, it gives me 2 weeks to get checks or something for this account.
My other option is to just run things as normal and then transfer the amounts needed into my regular account to cover those expenses. At least I would be able to say "Ok, I paid my electric bill for $1,000 out of my normal account and then I transferred $1,000 out of the PPP account to cover."
Hopefully the 2nd option will suffice because I don't want to through all the hassle of changing the auto withdrawals for all the utilities and then changing them back in a couple months. [Reply]
Originally Posted by Mr. Plow:
That's one issue that I haven't gotten handled yet. Payroll goes out tomorrow, and we're going to issue that one as normal. Since I'm the one that does payroll, it gives me 2 weeks to get checks or something for this account.
My other option is to just run things as normal and then transfer the amounts needed into my regular account to cover those expenses. At least I would be able to say "Ok, I paid my electric bill for $1,000 out of my normal account and then I transferred $1,000 out of the PPP account to cover."
Hopefully the 2nd option will suffice because I don't want to through all the hassle of changing the auto withdrawals for all the utilities and then changing them back in a couple months.
Yeah, we were going to do dollar for dollar transfers if we had to. Payroll is X dollars than we'd have made a transfer out of the PPP account into base operating for X dollars down to the cent. Then rent. Then necessary benefits (essentially insurance and 401(k) match).
We were going to be able to point to a specific dollar in, dollar out transaction rather than trying to do a large transfer to cover several 'forgiveable' expenses.
It's all a wild-ass guess anyway but if you think something makes sense...it probably does. [Reply]