Let me tell you about Ember, a small business owner. Her PPP loan through Bank BAC of America was approved for $76,773. A year later, BofA sent her an email that they were retroactively qualifying her for just $4,377! Is this really how Bank of America chooses to treat their best customers? I wrote in
Month: August 2021
Tara Moore | Getty Images When the onset of the Covid-19 pandemic sent shock waves through the U.S. economy, its also prompted worries about how the ensuing downturn could affect Social Security. The program’s trust funds were already running low. At the same time, the Social Security Administration was faced with the unprecedented task of
Gleb Savchenko and Elena Samodanova have listed their five-bedroom, 3.5 bathroom Laurel Canyon Hills home they once shared for 3.19 million. Savchenko, 37, a pro on Dancing With the Stars, and the Sharknado actress split in November, after 14 years of marriage, and filed for divorce earlier this year. During an episode of the Whine Down
In this article UAL United Airlines pilot Steve Lindland receives a COVID-19 vaccine from RN Sandra Manella at United’s onsite clinic at O’Hare International Airport on March 09, 2021 in Chicago, Illinois. Scott Olson | Getty Images United Airlines will require its 67,000 U.S. employees to get vaccinated against Covid by no later than Oct.
In this article DRLCO-DK A crane loads a shipping container branded A.P. Moller-Maersk onto a freight ship. Balint Porneczi | Bloomberg | Getty Images Maersk, the world’s largest container shipping firm, has posted a sharp increase in second-quarter earnings as congestions and bottlenecks continue to drive up shipping rates. The company on Friday reported earnings
In this article NVAX DKNG HOOD DBX SPCE YELP Billionaire entrepreneur Richard Branson prepares to spray champagne after flying with a crew in Virgin Galactic’s passenger rocket plane VSS Unity to the edge of space at Spaceport America near Truth or Consequences, New Mexico, U.S., July 11, 2021. Joe Skipper | Reuters Check out the
SpaceX stacks Starship prototype 20 on top of Super Heavy rocket Booster 4 on August 6, 2011. @elonmusk on Twitter Elon Musk’s SpaceX stacked a Starship prototype rocket on top of a Super Heavy rocket booster for the first time on Friday morning, giving a look at the scale of the combined nearly 400-foot-tall vehicle.
By Kerry Hannon, Next Avenue Here’s the latest discouraging news for older job applicants: Hiring managers around the world have serious concerns about the abilities of people 45+ to learn new technologies and skills and to work with other generations, even though when they hire them, 87% of those employees perform as well, or better, than colleagues
In a sign of the political divide over death taxes, Iowa is repealing its inheritance tax, with a phased-in reduction of the tax bite retroactive to January 1, and full repeal as of January 1, 2025. Abolishing the state inheritance tax was a key priority for Republican Governor Kim Reynolds; it was part of a
The Biden administration announced Friday it will extend the payment pause for federal student loan borrowers through January 2022. Since March 2020, the borrowers have been given the option to press the pause button on their monthly bills, without interest accruing on their debt. Some 90% of borrowers have been doing so. The pause was
Construction workers pouring wet concrete on a road. With 20% of the planned infrastructure bill, or $110 billion, dedicated for the construction of roads and bridges, small constructions firms are hoping for a long-term boom in business. Jung Getty As small businesses recover from labor constraints and business losses due to Covid-19, a bipartisan infrastructure
Cofounder of InstaLend, a non-bank real estate lender providing loans on single-family and multi-family properties for acquisition and rehab. When you’re applying to a real estate lender for your first fix and flip loan, there’s a lot to keep track of. While you might have gone through a lending process when you purchased the home you
In this article WMT A Walmart package is unloaded from a trailer to be sorted at a FedEx ground hub in Hagerstown, Maryland. Andrew Harrer | Bloomberg | Getty Images Walmart is giving weekly bonuses to warehouse workers, as the retail giant competes in a tight labor market and ramps up for the holiday season,
In this article NCLH The Norwegian Dawn cruise ship arriving in the French Mediterranean port of Marseille, July 27, 2021. Gerard Bottino | SOPA Images | LightRocket | Getty Images Norwegian Cruise Line reported mixed second-quarter results on Friday ahead of its first cruises in the U.S. since last year. Shares of the company fell
U.S. stock index futures were little changed during overnight trading on Thursday, ahead of Friday’s highly anticipated jobs report. Futures contracts tied to the Dow Jones Industrial Average dipped 24 points. S&P 500 futures and Nasdaq 100 futures were flat. Stocks finished Thursday’s session in the green, with the S&P 500 rising 0.6% to close
Vlad Tenev and Baiju Bhatt attend Robinhood Markets IPO Listing Day on July 29, 2021 in New York City. Cindy Ord | Getty Images Shares of Robinhood are popping again on Friday as the volatile stock heads to end its first full week of trading up nearly 70%. Robinhood shares rose 13% to $57.85 on
Private equity funds are the greatest wealth builders ever invented on Wall Street. So why have the retail versions of the dealmakers’ funds, peddled by Merrill Lynch and other brokers, performed so poorly? by Antoine Gara and Jason Bisnoff Former Merrill Lynch broker Kurt Stein vividly remembers the day in the spring of 2011 when
The Small Business Administration (SBA) has just made a number of updates to the regulations governing PPP loans that are being welcomed by borrowers and their advisors. These new rules will save tens of thousands of hours for borrowers, accountants, banks and the SBA. Please join Brandon Ketron, JD, CPA and I on Saturday August
Hunter Hastings / 500px | 500px | Getty Images Although everyone wants to leave the pandemic behind, the loss of the financial relief many families received because of the crisis will be less easy to part with. Stimulus checks, more generous jobless benefits, expanded money to feed children and other aid and protections kept the
Founder of Apartment Loan Store a Commercial Mortgage Firm. Author of “The Encyclopedia of Commercial Real Estate Advice,” Publisher- Wiley. I am a commercial mortgage banker. One afternoon in June of 2018, I found myself pleading with my client who had fallen madly in love with an overpriced, vintage 16-unit apartment complex in the hip
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