The program so far has given about $42 billion in loans to restaurants, bars and lodging companies. But many restaurants burned through loans quickly because the original terms of the program required them to use the money within eight weeks in order to get loan forgiveness. Many establishments couldn’t reopen but paid staffers not to work anyway. Then when they reopened with revenue limited by social distancing, they couldn’t afford their full payrolls. Congress changed the spending requirement to 24 weeks in early June, but that was too late for many restaurants. … [Read more...] about With loan money gone, restaurants are at mercy of virus
Florida hurricane when will it hit
This is a typical area for June storms to form and could continue to be a hot spot over the next month or more. Part of the reason is that shallower coastal waters through the Caribbean and Gulf warm faster than the rest of the Atlantic. … [Read more...] about Atlantic hurricane season: Where do tropical storms form in June?
“This presents a practical problem, because government officials and residents in hurricane-prone states use this season to inform their funding choices, public awareness campaigns, and preparation decisions," Murphy said in the letter. “Accordingly, an official season that does not accurately predict major storm activity could result in readiness being compromised and people and property being harmed." … [Read more...] about With storms in May, Florida lawmaker wants a longer hurricane season