More than 100 CEOs warn Congress of 'catastrophic' consequences for small biz without relief bill

[babylonsister]

More than 100 CEOs warn Congress of 'catastrophic' consequences for small biz without relief bill
The letter, spearheaded by Howard Schultz, chairman emeritus of Starbucks, was also signed by Facebook COO Sheryl Sandberg and Microsoft CEO Satya Nadella.
Image: Howard Schultz
Aug. 3, 2020, 8:00 AM EDT
By Stephanie Ruhle and Rebecca Shabad


WASHINGTON — More than 100 current and former top executives at major U.S. companies are calling on Congress to pass long-term relief for small businesses to ensure they survive the coronavirus pandemic.

In a letter released Monday that was sent to top congressional leaders of both parties in the House and Senate, the CEOs and other executives warn of significant consequences to the economy if Congress doesn't immediately act to save small business.

"By Labor Day, we foresee a wave of permanent closures if the right steps are not taken soon," they wrote. "Allowing small businesses to fail will turn temporary job losses into permanent ones. By year end, the domino effect of lost jobs — as well as the lost services and lost products that small businesses provide — could be catastrophic."

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https://www.nbcnews.com/politics/congress/more-100-ceos-warn-congress-catastrophic-consequences-small-biz-without-n1235613

[JI7]

1. I am a small business owner but I have a problem with continuing to fund businesses which will have

no way of doing well in the current situation.

I would rather people get money directly for themselves so if they do have to shut down the business at least the owners and employees will still get money . And they can still look for other work .

Give people monthly stimulus checks.

[BComplex]

3. I owned a small business for many years, and I totally agree. Giving the money to

individuals would save both the owners of the businesses and their employees.

[Iliyah]

2. First of all, republicans do know the downsize of this . .

and do not care. I'm assuming they get rich quicker and keep majority of the monies up top, with a tiny tickling down effect. That is their logic of a booming economy. Forget COVID-19 since majority of republicans believe that it's a flu or cold, it's a hoax manufactured by Democrats, it's China's fault, herd immunity wherein it basically kills POCs.

That saying about republicans do not know how to govern. That is pretty much on the mark.

Also, republicans are power hungry. In their one way mind, they have installed unqualified judges in all sectors of the justice systems. They have installed the most evil minded people in important positions of the government. These people have created so much harm to the institution of the USA and her people, and will do their best in destroying Democracy, ie voting rights, civil rights.