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.
Originally Posted by DJ's left nut:
Eh - 3/day during the weekdays.
So...kinda.
But yeah, the last two weeks have been just about on the hour. I've spent the last two days trying to anchor myself to the chair to just not go outside. The fact that my actual day to day workload has petered out to damn near nothing combined with the stress of all this is just a real bad combo.
Should probably go get sunflower seeds or something and then just use little 10 minute intervals to chew on 'em.
Sunflower seeds, coffee, gum, video games, guns, whatever.
I’ve had decent luck fighting anxiety and uncertainty by tying onto some big project and grinding. I used to do pretty well with exercise but since my knees are shot it isn’t the same. Sucks ass when your workload has dried up, but find something and plow hard. Revise your project tracking system, billing system, run some numbers on advertising, put together some proposals, just find something that will make you grind and go get it.
In my line of work there are a lot of uncontrollable variables that can fuck up a guys business. So I can relate. And just the way I’m wired I’m not built to just sit back and rely on my risk management strategies despite putting a lot of work into them. I have to go somewhere with that energy. I’m guessing you’re the same way. Even if you’re not wired like me, smoking still isn’t it.
Last thing then I’ll shut the hell up. When I was a kid I was big and strong, pretty decent athlete could do a lot of things. Most kids that would lead to being cocky and feeling indestructible. But not me. I have a specific allergen that fucks up my life and I get asthma. I haven’t had an attack in years and medication has come a long way since then, but I had an attack when I was probably 12 that I thought was going to get me. I was working as hard as I could to catch my breath. Seriously. I was laying down giving it everything I had and I was just getting further behind. That’s the most scared I’ve ever been. Couple fairly serious car accidents, a damned close call on the farm almost falling off a roof, nothing compares that fear I felt. Accordingly, I’m fairly sensitive to lung issues and why I’m so passionate about what you probably think is a nothing deal.
I’ll crawl off the soapbox now. All the best man. You seem like good people. Best of luck. [Reply]
Originally Posted by DJ's left nut:
Sounds like it will be administered through the local banks.
So...maybe make an appointment quickly.
There's so much shit in there to parse through and dissect that it's still going to be difficult to figure out how it works in practice. But hey, if worst case scenario I end up w/ a 10 year note with no personal guarantee that is 100% backed by the SBA at a rate not to exceed 4% for a million bucks....ugh...that'll suck dicks. But I can proooooobably make that work.
That's another $10K/month I'll have to find in the budget. So...y'know...no profit for 5 years. But it's workable.
The only thing that has me spooked is backing. If I gotta pay it back, I gotta pay it back. Shit happens. But I at least need to GET it first and if banks tighten up and I can't get the engines re-started, that's the nightmare scenario.
From what I've read I think we'll try to reduce any buyout payments by as much as we can, reduce all salaries by 25%, move on from college and part-time staff and let the chips fall where they may. I think that gets us quite a bit of cover here but it's hard to know exactly how much.
But if I can combine that cover with the security of knowing there will at least be the "well now you have to pay this back over 10 years" fallback, so be it.
Yeah, it is what it is. It looks like alot of it will be forgiven if used for certain things so hopefully that will help. [Reply]
Originally Posted by Buehler445:
Sunflower seeds, coffee, gum, video games, guns, whatever.
I’ve had decent luck fighting anxiety and uncertainty by tying onto some big project and grinding. I used to do pretty well with exercise but since my knees are shot it isn’t the same. Sucks ass when your workload has dried up, but find something and plow hard. Revise your project tracking system, billing system, run some numbers on advertising, put together some proposals, just find something that will make you grind and go get it.
In my line of work there are a lot of uncontrollable variables that can **** up a guys business. So I can relate. And just the way I’m wired I’m not built to just sit back and rely on my risk management strategies despite putting a lot of work into them. I have to go somewhere with that energy. I’m guessing you’re the same way. Even if you’re not wired like me, smoking still isn’t it.
Last thing then I’ll shut the hell up. When I was a kid I was big and strong, pretty decent athlete could do a lot of things. Most kids that would lead to being cocky and feeling indestructible. But not me. I have a specific allergen that ****s up my life and I get asthma. I haven’t had an attack in years and medication has come a long way since then, but I had an attack when I was probably 12 that I thought was going to get me. I was working as hard as I could to catch my breath. Seriously. I was laying down giving it everything I had and I was just getting further behind. That’s the most scared I’ve ever been. Couple fairly serious car accidents, a damned close call on the farm almost falling off a roof, nothing compares that fear I felt. Accordingly, I’m fairly sensitive to lung issues and why I’m so passionate about what you probably think is a nothing deal.
I’ll crawl off the soapbox now. All the best man. You seem like good people. Best of luck.
I've put all my energy into masturbation.
Being in the dental field I was my hands so so many damn times a day it's like sandpaper so the lotion from rubbing one out is multifaceted in it's benefits. [Reply]
Originally Posted by O.city:
I've put all my energy into masturbation.
Being in the dental field I was my hands so so many damn times a day it's like sandpaper so the lotion from rubbing one out is multifaceted in it's benefits.
This would all fucking happen during shark week in my house, wouldn't it?
Originally Posted by ChiliConCarnage:
Is that true when the crisis might still kill your spouse? Leaving you not to have to deal with divorce and a bonus possible fat life insurance check?
Screw divorce, Id be praying for the Rona to take her.
I think, from what I read, that the stress of the crisis tends to make people more likely to make major life choices (such as marriage and divorce).
I'm sure there are people out there hoping the virus will make the choice for them (as terrible as that sounds). But with a fatality rate of 2-4%, that will still leave a lot of people married and needing divorces.
I'm just not sure how they are going to pay for the divorce when the economy is a train wreck. Assuming that we get through this crisis in 6 months or so (hoping for the best here), I don't expect my practice to recover for probably a year at the earliest. [Reply]
Originally Posted by Yosef_Malkovitch:
I think, from what I read, that the stress of the crisis tends to make people more likely to make major life choices (such as marriage and divorce).
I'm sure there are people out there hoping the virus will make the choice for them (as terrible as that sounds). But with a fatality rate of 2-4%, that will still leave a lot of people married and needing divorces.
I'm just not sure how they are going to pay for the divorce when the economy is a train wreck. Assuming that we get through this crisis in 6 months or so (hoping for the best here), I don't expect my practice to recover for probably a year at the earliest.
I was a bit tongue in cheek there. Aren't money problems/stress at the root of a lot of divorces? Maybe you'll see a surge once things smooth out a bit. Good luck [Reply]
Originally Posted by notorious:
Just called my local banks and both said the loans will be ran direct through the government.
Looks like it's just really ramping up funding and de-regulating 7(a) loans through the SBA.
Those have always been administered by the banks themselves but ultimately backed by the government. From what I can see, the SBA will essentially 'purchase' the forgiveable obligations from qualified lenders in the event that they certify that the funds were used by the borrower on allowed expenses.
I just don't see how this can be a direct loan program - who in the federal government has the infrastructure for that? The Treasury department damn sure isn't geared up to accept millions of credit applications.
Originally Posted by DJ's left nut:
Looks like it's just really ramping up funding and de-regulating 7(a) loans through the SBA.
Those have always been administered by the banks themselves but ultimately backed by the government. From what I can see, the SBA will essentially 'purchase' the forgiveable obligations from qualified lenders in the event that they certify that the funds were used by the borrower on allowed expenses.
I just don't see how this can be a direct loan program - who in the federal government has the infrastructure for that? The Treasury department damn sure isn't geared up to accept millions of credit applications.
That just cannot be right.
yeah Mnuchin yesterday said that you will go to your local bank and should be able to apply and get money same day. [Reply]
Originally Posted by DJ's left nut:
Looks like it's just really ramping up funding and de-regulating 7(a) loans through the SBA.
Those have always been administered by the banks themselves but ultimately backed by the government. From what I can see, the SBA will essentially 'purchase' the forgiveable obligations from qualified lenders in the event that they certify that the funds were used by the borrower on allowed expenses.
I just don't see how this can be a direct loan program - who in the federal government has the infrastructure for that? The Treasury department damn sure isn't geared up to accept millions of credit applications.
That just cannot be right.
Only way I could see is if they use existing USDA/HUD/whatever infrastructure. If so watch out. [Reply]