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☆ The world of government contract jobs is incredibly complex. Here are the basics.
▼ + stars: | 2024-04-21 | by ( Ana Altchek | ) www.businessinsider.com time to read: +7 min

This lets the government tackle specific jobs and projects quickly without all the steps of regular government hiring and bureaucratic obstacles. Thomson ReutersThere are a wide range of large government contracting companies that the government regularly makes deals with. John Breth, 40, worked in government contracting roles for 12 years before starting his own contracting company. If awarded the contract, you have to meet specific requirements set by the government, which may involve getting clearances or certifications. Once you understand the landscape better, you'll be able to recognize which jobs you qualify for and define your path forward.

Persons: —, Lockheed Martin, Lauren Irizarry, John Breth, Kevin Jennings, Jennings, you'll Organizations: Service, Department of Labor, Business, Raytheon, Thomson Reuters, Defense, Lockheed, Boeing, Northrop Grumman, Judge, US Small Business Administration Locations: Woburn, sba.gov

☆ Arizona ruling puts abortion politics in the spotlight in battleground state
▼ + stars: | 2024-04-10 | by ( Arit John | ) edition.cnn.com time to read: +8 min

They’ll also have a chance to vote directly on the abortion ban the court has revived – abortion rights groups are currently in the signature gathering process, which has gained a new level of urgency. He added that he would not sign a federal abortion ban if one was passed through Congress. Katie Hobbs to “come up with an immediate common sense solution that Arizonans can support.” She also said she’s opposed to a federal abortion ban. Since then, abortion rights have proven to be a driving issue nationwide. Arizona is one of nearly a dozen states that could have an abortion rights measures on the November ballot.

Persons: Donald Trump, They’ll, ”, Barrett Marson, “ It’s, Trump, ” Trump, Juan Ciscomani, Kari Lake, Ruben Gallego, Katie Hobbs, “, she’s, Gallego, Lake, Roe, Wade, Doug Ducey, Weeks, Hobbs, Stacy Pearson, –, Joe Biden, Biden, Kamala Harris, ” Harris, ‘, ” Biden, Harris, ” Hobbs, CNN’s Anderson Cooper, Marjorie Dannenfelser, “ We’ve, Chris Love, we’ve, ” CNN’s Kate Sullivan, Ebony Davis, Ali Main Organizations: CNN, Donald Trump . Arizona, Senate, Arizona GOP, Hartsfield, Jackson Atlanta International Airport, Republicans, GOP, Democratic Rep, Democratic, Republican, Biden, Trump, Arizona, SBA, ”, Abortion Locations: Arizona, Hobbs, Tucson

☆ Abortion: As Trump contorts, will his potential running mates bend with him?
▼ + stars: | 2024-04-10 | by ( Steve Contorno | ) edition.cnn.com time to read: +7 min

Kristi Noem said Donald Trump was “exactly right” to want states in charge of abortion access in America. For Noem, Scott and others in consideration to become Trump’s running mate, the former president’s latest contortions around abortion present a new challenge as they compete for his attention. Trump angered several anti-abortion leaders this week by refusing to back a federal abortion ban while embracing exceptions that Republicans throughout the country have for years opposed as morally questionable. But for a party that has long defined life as beginning at conception, Trump’s latest evolution on abortion will test those aspiring to run with him. “That’s just a fact.”Rubio was an early co-sponsor of South Carolina Sen. Lindsey Graham’s bill to ban abortion nationwide 15 weeks into a pregnancy.

Persons: Kristi Noem, Donald Trump, Unaddressed, Sen, Tim Scott, ”, Scott, Trump, Wade, Mike Pence, “, it’s, Noem, Byron Donalds, Ohio Sen, J.D, Vance, Trump’s, ” Vance, Florida Sen, Marco Rubio, Rubio, ” Rubio, “ That’s, South Carolina Sen, Lindsey Graham’s, Roe, ” Trump, Kari Lake, Marjorie Dannenfelser, Susan B, Anthony Pro, Elise Stefanik, Stefanik, ” CNN’s Kristen Holmes, Manu Raju, Kit Maher, Alison Main Organizations: CNN, South Dakota Gov, Capitol, Trump, South Carolina Republican, Indiana, Manhattan, Florida Rep, Republicans, South, Monday, Democratic, Arizona Supreme, Senate, Republican, New, Arizona Senate, America, SBA, New York Republican Locations: America, Texas, California, Ohio, Florida, South Carolina, Graham, New York, Arizona

CNN —Donald Trump made an unexpected declaration Tuesday when probed about a six-week abortion ban that will soon take effect in his home state of Florida. “We’ll be making a statement next week on abortion,” the former president told reporters in Grand Rapids, Michigan. Other close advisers, however, have expressed concern that Trump will give further ammunition to Democrats by supporting any new restrictions on abortion. “It was bound to happen at some point where he needed to clarify his position,” a Trump adviser told CNN. Ron DeSantis was courting the state’s evangelical community by running to Trump’s right on the issue.

Persons: Donald Trump, “, ”, Trump, Roe, Wade, Kellyanne, Conway, Carolina Sen, Lindsey Graham, Ralph Reed, ” Graham, Joe Biden’s, ” Roe, greenlit, Sunshine State –, they’re, it’s, it’ll, ” Trump, Sid, Trump’s, Vincent Haley, Ross Worthington, Haley, Worthington, she’s, Lindsey Graham’s, Susan B, Anthony Pro, Brian Hughes, — I’ve, — Trump, Graham, Reed, Marjorie Dannenfelser, Ron DeSantis Organizations: CNN, White, US, Republican, Democratic, Trump, Lago, and Freedom Coalition, Florida Supreme, Sunshine State, “, Fox News, New York, Friends, Trump . Leaders, GOP, Republicans, SBA, Mar, Florida Gov Locations: Florida, Grand Rapids , Michigan, Kellyanne Conway, Mar, ”, Carolina, Trump, Graham’s, Michigan, Nashville , Tennessee, Roe, vocalize, Iowa

☆ To get $9 million in pandemic aid, Lil Wayne pledged to operate a 'drug-free workplace.' The feds believed him.
▼ + stars: | 2024-03-11 | by ( Jack Newsham | ) www.businessinsider.com time to read: +7 min

Lil Wayne loves weed. But in 2021, Lil Wayne — whose real name Dwayne Carter — told the government that his touring company was a "drug-free" workplace. No one at the Small Business Administration appeared to question it, and the government cut a $8.9 million check to Lil Wayne's company Young Money Touring Inc. Representatives for Beach House didn't respond to a request for comment, nor did press contacts for Lil Wayne or Post Malone. The feds could claw the money backThe SBA told grant applicants that they could be sued or even prosecuted for lying.

Persons: Malone, Lil Wayne, —, Lil Wayne —, Dwayne Carter —, Lil Wayne's, Post Malone, Post, Joe Rogan's, they're, Carter, , Harold Pollack, Josh Schiller, Schiller, Dan Meyer, Andrew Preble, should've, Day Organizations: Service, Small Business Administration, Inc, Austin Post, Post, SBA, Touring Inc, University of Chicago, Elon, SpaceX, Beach House, NME, Beach Locations: people's, San Francisco, Angeles, New Orleans

Oklahoma and Kentucky are also taking steps to clarify their abortion bans, though in both states the attorneys general, not physicians, are the ones dictating the terms. Since the U.S. Supreme Court overturned the constitutional right to abortion in 2022, states have been free to enact their own restrictions. “It’s not going to deal with hard calls,” said Greer Donley, an associate professor at the University of Pittsburgh School of Law who is an expert on abortion law. As some states mull how to clarify — without weakening — their abortion bans, abortion rights advocates in several states continue to challenge the bans with lawsuits. Frustrated with the board's inaction, Amy and Steven Bresnen, a couple who are lawyers and lobbyists, filed a petition in January asking it to clarify what circumstances qualify as medical exceptions to the state's abortion ban.

Persons: —, Kristi Noem, ”, Kelsey Pritchard, wasn't, Taylor Rehfeldt, anesthetist, It's, “ It’s, Greer Donley, “, Sen, Erin Tobin, ” Tobin, women's, Jonathan Skrmetti, Donley, “ That’s, Katie Cox's, Greg Abbott, Amy, Steven Bresnen Organizations: —, Republican, Dakota Legislature, Republican Gov, SBA Pro, U.S, Supreme, State Republican Rep, GOP, University of Pittsburgh School of Law, ” South, ” South Dakota Republican, Texas, Tennessee, Lone Star, Texas Medical Board, Texas Medical Locations: Tenn, U.S, “ South Dakota, South Dakota, Kelsey Pritchard . Oklahoma, Kentucky, Oklahoma, ”, ” South Dakota, mull, Tennessee, ” In Texas, Texas

☆ For Black workers, progress in the workplace but still a high hill to climb
▼ + stars: | 2024-02-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +10 min

"We were in a situation where folks accepted that Black unemployment was going to always be high and there was nothing that they could do about it. The Black unemployment rate in January was 5.3%, up a touch from December but still near the all-time low of 4.8% hit in April 2023. For Black workers, weekly before-tax earnings as of the end of 2023 have risen 24.8% since the first quarter of 2020. "High unemployment for Black workers is a solvable problem," Fulton said. Black workers are interested in tech and believe there are opportunities.

Persons: Ali, Jamila Wright, there's, Jessica Fulton, Fulton, Cox, she's, MilSpouse, they've, Sue Harnett, Goldman Sachs, Harnett, I'm, Ali Wright Organizations: Brooklyn Tea, Joint Center, Political, Economic Studies, D.C, U.S . Bureau of Labor Statistics, McKinsey & Company, Companies, Bank of America, Black Colleges, Universities, New, Small Business Administration, Ivy League, Conference Board Locations: America, U.S, Washington, Brooklyn, New York City, Atlanta

“President Trump is leading on finding consensus, and this is where the nation is," aid SBA Pro-Life America President Marjorie Dannenfelser. Democrats and abortion-rights groups seized on the Times report, with President Joe Biden saying it showed abortion rights would be a central issue in the 2024 election. He said Trump was “running scared” by not publicly saying what he would do about abortion. “We’ve long known where Donald Trump stands on abortion and it’s at odds with the majority of Americans,” Lawson said in a statement. Voters in seven states — California, Kansas, Kentucky, Michigan, Montana, Ohio and Vermont — have previously sided with abortion rights supporters on ballot measures.

Persons: Donald Trump, Trump, Roe, Wade, Susan B, Anthony Pro, ”, Marjorie Dannenfelser, ” Karoline Leavitt, Joe Biden, “ He’s, ” Biden, Jenny Lawson, “, ” Lawson, Ron DeSantis, ” Trump, Banning, it's, –, ” Kristan Hawkins, ___ Fernando, Will Weissert Organizations: White, Republican, U.S, Supreme, New York Times, “, Times, Associated Press, NORC, for Public Affairs Research, America, Trump, Florida Gov, Press, Fox News, Republicans, GOP, Life, AP Locations: America, U.S, Arizona , Arkansas, Florida , Missouri, South Dakota, Ohio, — California , Kansas , Kentucky, Michigan, Montana , Ohio, Vermont, Chicago, Washington

☆ US Launches Disaster Relief Reforms as Climate-Driven Events Rise
▼ + stars: | 2024-01-19 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

WASHINGTON (Reuters) - U.S. President Joe Biden's administration on Friday said it was launching the most major reforms to disaster management relief in two decades as climate change-driven extreme weather events, such as floods and fires, increase. The Federal Emergency Management Agency (FEMA) reforms of its federal assistance policies and expanded benefits for disaster survivors aim to cut red tape that victims have said makes it difficult for them to access resources after a disaster. FEMA said the reforms follow feedback from disaster survivors. Previously, the payment was assessed on a disaster-to-disaster basis. FEMA said the changes will take effect for new disasters declared on, or after March 22, 2024.

Persons: Joe Biden's, ”, Deanne, Valerie Volcovici, Sharon Singleton Organizations: WASHINGTON, Federal Emergency Management Agency, FEMA, U.S, Small Business Administration Locations: U.S, Maui, California

New rules announced Friday by the federal agency in charge of emergency management aim to simplify and speed up the process. With natural disasters now affecting more people across the United States, insurance markets in many states are buckling under the weight of payouts to those hit by wildfires and hurricanes. Previously, FEMA couldn't help them because their insurance payout already exceeded the agency's assistance cap of $42,500 per disaster. GETTING RID OF THE LOAN RULEUnder previous rules, disaster survivors first had to apply for a loan with the Small Business Administration and get rejected before they could apply for FEMA assistance. And FEMA is creating a new category of aid called displacement assistance, designed to help those who can't return to their home.

Persons: —, Deanne Criswell, Nature, ” Criswell, ”, Criswell, deductibles Organizations: WASHINGTON, Federal Emergency Management Agency, FEMA, Small Business Administration, SBA, https Locations: United States, Louisiana, Florida, California

“We have undeniable evidence of victory — lives being saved,” said John Seago, president of Texas Right to Life. For abortion-rights activists, Cox’s case was a powerful illustration of how abortion bans could be dangerous for women with pregnancy complications. Over and over, people talked about her with awe, her courage in going public.”Seago, the Texas Right to Life president, defended Texas’ abortion ban. Among leading anti-abortion activists, there’s a general consensus that women should not be prosecuted for seeking or obtaining an abortion. Conversely, some abortion opponents — including Chris Smith — fear a Democratic sweep might lead to a law overriding the state abortion bans that are now in effect.

Persons: “, ”, John Seago, Carol Tobias, Dobbs, ” Tobias, Court’s Dobbs, Roe, Wade, Brent Leatherwood, “ We’ve, –, Jeanne Mancini, Jean Marie Davis, Davis, Mike Johnson, Chris Smith, Mancini, J.J, There’s, Kate Cox, Cox, Nancy Northup, ” Seago, there’s, Jamila, “ I’m, ” Smith, Sen, Lindsay Graham, Katie Glenn Daniel Organizations: Democratic, Jackson, Health Organization, Republican, Southern Baptist, Pregnancy, U.S . Rep, Congressional, American Civil Liberties Union, Center for Reproductive Rights, Physicians, Reproductive, SBA Locations: Texas, Washington, U.S, Ohio , Kansas, Kentucky, California , New York, New Jersey, Illinois, Florida, New Mexico, Brattleboro , Vermont, New Hampshire, Idaho

Rising bond yields have thrown cold water on the major averages, but a few winners may emerge even if rates remain elevated. These developments have spurred worries that the Fed policymakers could keep rates higher for longer. Bond prices and yields are inversely related, which means that as yields rise, bond prices will fall. Generally, insurers benefit when interest rates rise , since their investment portfolios will generate more yield. Shares of both real estate investment trusts, which specialize in communications services, could take a hit as higher rates make their dividends less attractive.

Persons: W.R ., Humana, Jefferies, Centene, Sherwin, Williams, Baird Organizations: Federal Reserve, CNBC Pro, Treasury Bond ETF, CME Group, Molina Healthcare, W.R, Florida Medicaid, American Tower Corporation, SBA Communications Locations: Molina, UnitedHealth, Florida

Nov 27 (Reuters) - Activist investor Elliott Investment Management on Monday said it was ready to nominate directors at Crown Castle International and push for the ouster of the wireless tower owner's executives and board members, whom it blames for years of underperformance. The hedge fund in a letter released on Monday said the company needs "comprehensive leadership change." It said it was ready to appeal to other shareholders to make changes to the 12-member board, signaling a possible proxy fight next year. Elliott sharply criticized management and the board saying a "lack of oversight ... contributed to its irresponsible stewardship and flawed financial policy." The hedge fund said the company "disregarded our data-driven analysis" and added that "our recommended changes were neither made nor taken seriously."

Persons: Elliott, Jesse Cohn, Jason Genrich, Jay Brown, Svea Herbst, Bayliss, Pooja Desai, Mark Porter Organizations: Investment Management, Crown Castle International, SBA Communications, Intelligence, Svea, Thomson Locations: Houston, Providence, Bengaluru

☆ Small business owners gear up for the biggest shopping weekend of the holiday season
▼ + stars: | 2023-11-21 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +5 min

According to a new American Express survey of small business owners, “55% anticipate Small Business Saturday will make a significant contribution to their overall holiday sales this year.” In a consumer survey conducted by the company in October, half of respondents said they plan to participate in the upcoming Small Business Saturday, and 85% said they anticipated shopping small this holiday season. Over the past 13 years, the company says consumers have reported spending nearly $184 billion during Small Business Saturday. American Express estimated that Small Business Saturday drove nearly $18 billion in consumer spending last year. Donnell Johns, who runs Veterans Growing America, an organization that supports veteran- and military-spouse-owned small businesses, said that Small Business Saturday is valuable because it creates an awareness for shopping small. For Ken Moorman, founder of Jirani Coffeehouse in Manassas, Virginia, Small Business Saturday means an average 10% uptick in sales than a typical Saturday.

Persons: Donnell Johns, We’ve, ”, Ken Moorman, “, Covid, ” Moorman, it’s, ” Elizabeth Rutledge, Isabel Casillas Guzman, “ The, Harris, Bidenomics, Biden Organizations: New, New York CNN, Amazon, Walmart, American Express, ”, Small, Express, Business Administration, American Express ’, SBA, “ The Biden, Harris Administration, American, Pacific Islanders Locations: New York, Manassas , Virginia, ”

☆ A financially independent entrepreneur says there's an overlooked but 'incredible opportunity' for young investors to buy businesses right now — and they're not as expensive to acquire as you may thin
▼ + stars: | 2023-11-19 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

He started with an "index-first strategy," he told Insider, and invested up to 80% of his earnings into low-cost index funds in the early 2010s. While index funds are ultimately what catapulted him to financial independence in the first place, he wouldn't necessarily go that route if he had to start from scratch today. "I'm still very pro low-cost index funds for almost everyone," he said. Lower returns mean index funds won't grow as much, and investors potentially have to save and contribute more to hit their goals. "I think business ownership is really where it's going to be for the next 10 to 20 years."

Persons: Grant Sabatier's, Sabatier, Charlie Munger, you've, boomer Organizations: Business, Fidelity, Federal Reserve, FedEx, SBA, Chase, Bank of America Locations: Morningstar

The passage of an abortion rights constitutional amendment in Ohio, and Virginia Democrats' capture of both legislative chambers after abortion-focused campaigns, showed that Republicans' long campaign to end abortion rights has become a liability ahead of the 2024 elections, strategists from both parties said. "Republicans have to stop pushing policies that make people believe they are trying to ban abortion. SEEKING A MIDDLE PATHThis year, Virginia Republicans, led by Governor Glenn Youngkin, leaned hard into plans for a 15-week abortion ban should they win control of the legislature. MAJORITY OF AMERICANS AGAINST ABORTION BANSOpinion polls show the majority of Americans support legal abortion in all or most cases. Abortion rights could also appear directly on 2024 ballots in states including Arizona and Florida, as they did in Ohio on Tuesday.

Persons: Nickolas Lentz, Evelyn Hockstein, Donald Trump, Joe Biden, John Feehery, Feehery, Glenn Youngkin, Mike Johnson, Trump, Roe, Ron DeSantis, Nikki Haley, Karen Finney, Marjorie Dannenfelser, Gabriella Borter, Tim Reid, Scott Malone, Grant McCool Organizations: REUTERS, Rights, Democrats, Virginia Democrats, Republicans, Republican Party, Republican, Democratic, Virginia Republicans, U.S, Reuters, Court, NBC, SBA, Thomson Locations: Dewitt , Michigan, U.S, Ohio, Virginia, Florida, Arizona, Washington, Los Angeles

Republicans on Tuesday decisively lost key electoral matchups across the country that came down to one issue over and over again: abortion. Ron DeSantis has signed a ban on abortion beyond six weeks of a pregnancy in his state, while he also backs a nationwide ban beyond 15 weeks. Former Vice President Mike Pence had been the most staunch opponent to abortion, criticizing calls for consensus and arguing for a nationwide ban on abortion before 15 weeks. Still, he’s suggested openness to a ban beyond 15 weeks more recently. Youngkin, who wasn’t himself on the ballot, campaigned on a pledge to pass an abortion ban beyond 15 weeks of pregnancy if voters granted Republicans full legislative control.

Persons: –, ” Marjorie Dannenfelser, “, ” Sen, Mitt, we're, ” Romney, it’s, Chris Christie, Vivek Ramaswamy, he’s, Nikki Haley, Sen, Tim Scott of, Ron DeSantis, Mike Pence, Donald Trump –, disjointedly, Roe, Glenn Youngkin, Youngkin, wasn’t, Dannenfelser, ” Organizations: GOP, Democrats, SBA, Utah Republican, Former New Jersey Gov, Republican, Virginia Gov, Republicans, Delegates Locations: Ohio , Virginia, Kentucky, Mitt Romney, Utah, Tim Scott of South Carolina, Florida, Virginia, Washington

COLUMBUS, Ohio (AP) — Abortion access is expected to play a central role in the 2024 elections. The preview comes next week, when Ohio voters decide whether to enshrine reproductive rights in their state Constitution. They question whether state lawmakers could pass any abortion restrictions at all that would pass constitutional muster if voters approve the amendment. AP VoteCast polling last year found that 59% of Ohio voters say abortion should generally be legal. “Ohio voters really know what's at stake here, because they've seen the incredible lengths that the Ohio government will go to to interfere in people's lives,” McGuire said.

Persons: Timmaraju, ”, Wade, Kelsey Pritchard, “, Frank LaRose, Dave Yost, Mike DeWine, DeWine, enshrine Roe, Carolyn Ehrlich, Christian Virtue, Megan Wold, Peter Range, Kimberly Inez McGuire, Ohio's, Roe, McGuire, they've, ” McGuire, ” ___ Fernando Organizations: Ohio, U.S, Supreme, SBA, Republican, GOP, Republicans, Ohio Senate, Ohio Catholic Conference, Protect, First Congregational Church, ACLU, Center, Christian, Christian Virtue and, Protect Women, AP, Life, Ohio Statehouse, Ohioans United, Reproductive, Ohio Association of Election, “, Associated Press Locations: COLUMBUS , Ohio, Ohio, Arizona , Nevada, Pennsylvania, — California , Kansas , Kentucky, Michigan, Montana, Vermont, lockstep, Protect Women Ohio, Columbus, The Ohio, Christian Virtue and Ohio, U.S, Republican Kansas, “ Ohio, Chicago

He attached remarks by Johnson praising Louisiana's abortion ban and penalty of "hard labor for 1-10 years" and fines of $10,000-$100,000 for those who perform abortions. The Biden-Harris campaign and other groups circulated and posted images of three bills Johnson has sponsored that the Democrats said would "ban abortion nationwide." Already, six states – Michigan, California, Vermont, Kentucky, Kansas and Montana – have passed referendums that either enshrined abortion rights or rejected efforts to undo the right to abortion. Another referendum, one that would guarantee abortion rights, is on the ballot next month in Ohio. These numbers have Democrats believing they can keep the White House and flip the House – and Johnson has put a face to that effort.

Persons: Joe Biden, Mike Johnson, Johnson, MAGA Mike Johnson’s, Ammar Moussa, Kamala Harris, Donald Trump, Donald Trump’s “, Johnson –, Kevin McCarthy, California –, Nancy Pelosi, Biden, Harris, Don Beyer, Roe, Wade, Marjorie Dannenfelser Organizations: Republican, House Republican Conference, Biden, Louisiana Republican, Republicans, California Democrat, Democratic, Virginia Democrat, Democratic National Committee, Lincoln, Social Security, SBA, Kaiser Family Foundation, White Locations: Louisiana, California, Virginia, America, – Michigan, California , Vermont , Kentucky , Kansas, Montana, Ohio

☆ Family-owned small businesses blend family and the workplace 24/7 — here are 3 tips for navigating brewing conflict
▼ + stars: | 2023-10-03 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +6 min

Working with your family to build and manage a small business comes with challenges. This article is part of "Small Business Playbook," a series exploring leadership challenges and the solutions that can drive growth. About 29% of employer firms are family-owned, according to the US Small Business Administration's Office of Advocacy. Set boundaries between family and work lifeFamily-owned small businesses are a "lifestyle," Engle said. Keep a small business thriving for as many generations as Engle's requires looking at the big picture, Pendergast said.

Persons: —, Matilda Reuter Engle, Engle, It's, Jennifer Pendergast, Pendergast, it's Organizations: Service, Fox Inn, Middleburg Hospitality, Red Fox, US, Business, SBA, Chamber of Commerce, Kellogg School of Management, Northwestern University, SCORE, Small Business Administration Locations: Middleburg , Virginia, Middleburg

☆ CreditNinja, which has charged loan customers an interest rate of 447%, is complaining that their $1 million PPP loan forgiveness request was rejected
▼ + stars: | 2023-09-23 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +3 min

Short-term lending company CreditNinja is mad about the SBA denying them loan forgiveness. The company charges interest rates as high as 447% in Texas, per KHOU. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. According to Forbes, Kanye West's fashion company Yeezy received over $2 million in PPP loans. Artist Jeff Koons, also notably rich, received a $1.1 million PPP loan in April 2020, according to ProPublica.

Persons: Seamus Hughes's CourtWatch, CreditNinja, CreditNinja wasn't, —, Kanye, Yeezy, Jeff Koons Organizations: SBA, Service, Court, Southern Division, Small Business Association, Relief, Economic, Forbes Locations: Texas, Wall, Silicon, Illinois

☆ As UAW strike looms, Biden admin considers aid for small suppliers -source
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

A General Motors assembly worker pickets outside the General Motors Bowling Green plant during the United Auto Workers (UAW) national strike in Bowling Green, Kentucky, U.S., October 10, 2019. Aid for suppliers has been discussed "since the minute it became clear there could be a strike" but those talks are "premature and fluid," the source said. Auto suppliers held recent discussions with the White House about the potential impact of a strike and possible options that the Biden administration could tap to help suppliers weather a prolonged strike. Small suppliers are critical to automakers' supply chains. Automakers have spent much of the past three years dealing with supply chain disruptions, and are still working to recover.

Persons: Bryan Woolston, Joe Biden's, Biden, Nandita Bose, David Shepardson, Paul Grant, David Ljunggren, Heather Timmons, Leslie Adler Organizations: General Motors, United Auto Workers, UAW, REUTERS, Detroit Three, U.S, Auto, House, Washington Post, Labor Department, Small Business Administration, White, SBA, Motor Equipment Manufacturers Association, Thomson Locations: Bowling Green , Kentucky, U.S, Michigan , Ohio, Canadian, Ontario

☆ Business owners of color seeking SBA loans now have to write an essay proving their race is a 'social disadvantage' after a judge ruled it isn't enough
▼ + stars: | 2023-09-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

In July, a federal judge ruled business owners cannot say their race is a disadvantage to receive funding. It challenged the SBA's 8(a) program, which awards money to socially disadvantaged businesses each year. Now, business owners have to write an essay proving why their identity has been the basis of discrimination. The judge's decision struck down a key provision of that program, saying that business owners could no longer say their race is the reason they have faced disadvantage in America. This ruling prompted the SBA to change the process for small business owners to receive funds though the 8(a) program.

Persons: Edward Blum, Joe Biden's, Isabella Guzman, Harris Organizations: Service, SBA, Biden, Harris Administration Locations: Wall, Silicon, Tennessee, America

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Aug 23 (Reuters) - The U.S. Justice Department said on Wednesday it has seized over $1.4 billion in COVID-19 relief funds that criminals had stolen, and charged over 3,000 defendants with crimes in federal districts across the country. A total of 119 defendants pleaded guilty or were convicted at trial during the sweep, according to the Justice Department. Last year, the U.S. Justice Department tapped federal prosecutor Kevin Chambers to lead its efforts to investigate alleged fraud schemes targeting pandemic assistance programs. Over $200 billion from the U.S. government's COVID-19 relief programs were potentially stolen, a federal watchdog said in late June, adding that the U.S. Small Business Administration (SBA) had weakened its controls in a rush to disburse the funds. Earlier this year, a separate watchdog report said the U.S. government likely awarded about $5.4 billion in COVID-19 aid to people with questionable Social Security numbers.

Persons: Dado Ruvic, Department's, General Merrick Garland, Garland, Kevin Chambers, government's, fraudsters, Kanishka Singh, Stephen Coates Organizations: REUTERS, Rights, U.S . Justice, The Justice Department, U.S, Justice Department, U.S . Justice Department, U.S . Small Business Administration, U.S . Labor Department, Social, Thomson Locations: COVID, United States, U.S, Washington

☆ Biden to visit fire-ravaged Maui on Monday as search efforts continue, with more than 800 people still missing
▼ + stars: | 2023-08-21 | by ( Kevin Liptak | ) edition.cnn.com time to read: +7 min

Biden is planning to name a senior federal emergency official to oversee long-term recovery efforts during his visit. Josh Green, Biden sought to ensure the large footprint required for a presidential visit would not obstruct ongoing response and recovery efforts. “If President Biden could just teleport himself over, he would’ve come here in five seconds,” Green said at a news conference last week. Bob Fenton, an experienced disaster response official, will serve as the chief federal response coordinator. During the visit, Biden plans to reassure residents that the federal government will support their recovery, Federal Emergency Management Agency Administrator Deanne Criswell said Sunday.

Persons: Joe Biden, Biden, Biden’s, curt “, Biden couldn’t, Josh Green, ” Biden, “, ” Green, “ I’ve, Jill Biden, Bob Fenton, Fenton, Deanne Criswell, “ He’s, ”, Criswell, Isabella Guzman, ” Guzman, CNN’s Kayla Tausche, ” Criswell Organizations: CNN, Hawaii Gov, Biden, FEMA, White, Federal Emergency Management, Union, US Small Business Administration, SBA Locations: Maui, Maui County, Delaware, Salt Lake City, Green, Lahaina, Hawaii, “ State

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