It's the economy, stupid! (Finance-related news)

[Day]

Well there are guidelines the businesses must meet to be considered small business to receive the loans, as long as they aren't being fraudulent i cant fault any business for taking advantage, as a business owner youd be retarded not to

[Kanriel]

Pizza Hut ain’t dying during a pandemic, pizza delivery places might be one of the safest businesses during all this. Sounds like a bad run of luck for that franchise owner.

The biggest struggle with Hut atm is stupid company policy. They decided a couple years ago to change the internal metric of "on time" from under 39min, to under 30min. Then they started putting the on time % as a pass/fail on internal inspections. So the only way to possibly hit this in any busier store is to just have a bunch of extra drivers sitting around, because the time to make an order is:

Dead slow, fast cook = 10-12min
Medium business, fast cook = 14-17min
Rush time, fast cook = 19-23min

And good fucking luck if you don't have a fast cook, which we won't pay anyone above minimum wage to do.

So during any rush, with basically any cook, you need every delivery to be tossed into a bag and delivered in under 10min. Not too difficulty for most places if the driver knows the area, but sadly a bunch of GPS warriors exist in the profession, and then you have shitty markings on apartments and the sort, and sub10 becomes hard to do.

The thing is that the on time metric is entirely set by big Pizza Hut corporate, but the franchises are who has to follow them. And they just upped it to need to be over 75% on time, which is under 30min now. Which is just absurd to try. My store, one of two delivery Huts in a 60k~ pop town, and the delivery store by far closer than any other pizza place to at least 5 different neighborhoods of hundreds of homes each, had to cut our delivery area when they first changed this on time metric. By my calculations we cut out about 1/3 of our deliveries, and we sure as fuck didn't get it back from repeat customers cause we were "faster" to them. And since this metric is getting pushed harder, even during this pandemic we can't just add our old area back and go back to serving thousands more customers.

So don't let them cry about labor costs and shit, Pizza Hut has fucked itself on their own policies.

[Day]

seems like several of us could use a glance or two at this

https://www.sba.gov/funding-programs...ection-program

[Jaybar]

Well there are guidelines the businesses must meet to be considered small business to receive the loans, as long as they aren't being fraudulent i cant fault any business for taking advantage, as a business owner youd be retarded not to

I'll take Business Ethics for 400, please.

[Jaybar]

seems like several of us could use a glance or two at this

https://www.sba.gov/funding-programs...ection-program

Doesn't look like it forbids the same crap the first time around. Anyone that got fucked on the first round could already have shuttered its doors and this is a little too late for them.

[Day]

I'll take Business Ethics for 400, please.

we arent solving business corruption and bad practices in the middle of a pandemic

[Jaybar]

we arent solving business corruption and bad practices in the middle of a pandemic

Why not.

[Salodin]

Well there are guidelines the businesses must meet to be considered small business to receive the loans, as long as they aren't being fraudulent i cant fault any business for taking advantage, as a business owner youd be retarded not to

Sure, I won't blame them for not leaving money on the table. Capitalism babeh!

I'm blaming the system for allowing them the opportunity to begin with, and blaming companies that took money while also complaining about government giving out handouts.

seems like several of us could use a glance or two at this

https://www.sba.gov/funding-programs...ection-program

Great, took em long enough to extend it. They still didn't fix obvious shit, like archis case, where he didnt do enough business with one single bank so none of his banks apparently wanted to give him the loan. Also, hopefully we dont have more DC lawyers taking 5-10million in free money.

Sent from my SM-G975U using Tapatalk

[archibaldcrane]

It only covers payroll for an individual employee up to 100k (prorated for the term of relief covered).

Just please learn a little bit about the program.

[Day]

Why not.

we couldnt solve it before its certainly not happening now, we have culture wars over pancake syrup and masks to fight

[Mythe_Seraph]

Remember when people were mad at banks for having slow processes and high benchmarks for applicants because they were trying hard to ensure the money went to equitable sources. There was absolutely zero infrastructure to create, accept, process, review, approve and then fulfill these applications. Part of the original idea was to identify businesses who had adequate reserves and to serve those who needed it first and people started citing “well the program says first come first serve.” So banks generally were forced to go with that in the second round specifically. And now you’re seeing where the money is going and people are still upset.

Can’t make everyone happy.

[archibaldcrane]

Also PPP is for businesses with fewer than 500 employees (that's their "small business" definition)

[archibaldcrane]

Also PPP is for businesses with fewer than 500 employees (that's their "small business" definition)

Here's all the stuff for larger businesses

https://www.everycrsreport.com/reports/IN11368.html

[Salodin]

It only covers payroll for an individual employee up to 100k (prorated for the term of relief covered).

Just please learn a little bit about the program.

No, it doesnt, like the first Google link says otherwise cmon

https://www.google.com/url?q=https:/...HMMV588ARx7dXN

Subject to reductions of course, but even up to 25% of the loan can be used for nonpayroll expenses and forgiven.

Sent from my SM-G975U using Tapatalk

[Day]

No, it doesnt, like the first Google link says otherwise cmon

https://www.google.com/url?q=https:/...HMMV588ARx7dXN

Subject to reductions of course, but even up to 25% of the loan can be used for nonpayroll expenses and forgiven.

Sent from my SM-G975U using Tapatalk

For each individual employee, the total amount of cash compensation eligible for forgiveness may not exceed an annual salary of $100,000, as prorated for the covered period.

from your link

[Salodin]

from your link

Yeah, did you read the rest of that paragraph and whats below it? Or you just hit ctrl F and went for it?

Sent from my SM-G975U using Tapatalk

[Day]

thought we discussed yesterday that only 60% of the loan needs to go to payroll to be forgiven, what are you currently arguing?

[Salodin]

thought we discussed yesterday that only 60% of the loan needs to go to payroll to be forgiven, what are you currently arguing?

It only covers payroll for an individual employee up to 100k (prorated for the term of relief covered).

Just please learn a little bit about the program.

Dudes acting like, first off, 100k in loan forgiveness per employee is nbd. Nevermind nonpayroll expenses can be forgiven too.

My issue is thats fine, if business that actually need it got the money. Most didnt. And infact, it seems a lot of powerfully connected businesses that likely would have survived without it got money as well. Pretty shitty, but you weren't asking me.

Sent from my SM-G975U using Tapatalk

[archibaldcrane]

Serious question Salo

Do you have an extra chromosome

[Salodin]

Nah

Sent from my SM-G975U using Tapatalk