When the federal government announced it would distribute nearly $6.3 billion to colleges to give to students in need, the aid was met with fanfare.
The Education Department said April 9 the coronavirus money was on its way. For nearly every student, the money still hasn't arrived.
Whoever is at fault, the effect is clear. Students across the country don't have access to emergency funds that could help them, and some of them don't even know the money is supposed to be available to them.
Many things are taking place:
Coronavirus stimulus cash: Missing your check? It may be on the way
The growing panic expressed over pandemic-related stimulus money doesn't seem to take into account that all the money was never set to be paid out at once.
So just because your neighbor saw a stimulus payout via direct deposit last week, it doesn't mean that you won't see some money soon.
More than half of the people who qualify to receive recovery rebates or stimulus checks have yet to receive any stimulus cash and many will start seeing their money this week or later.
Saving money by not going out for coffee? Here's where you can donate it | 48 hills
One of the most striking takeaways of the crisis triggered by COVID-19 is how unevenly it affects people. Multiple economic sectors face staggering job losses.
At the same time, some people who have transitioned to working from home – while still getting a paycheck — have had their spending automatically curtailed, putting them in the bizarre position of watching their savings grow without even trying.
As with the inherent inequality of capitalism, some weathering this crisis face higher health risks, exposures, or financial consequences than others. Now, what happens if the legions of involuntarily thrifty office workers stuck at home with a surprise government check in the mailbox make it their business to support those who are hardest hit? These are the thoughts I think at 4am these days.
A 4/20 Challenge For Cannabis Media: If You Owe Writers Money, Own Up And Pay Now
In recent months and years, numerous cannabis media outlets have made a habit of not paying their writers, editors, and other journalists either in full or on time — often forcing writers to send repeated requests for payment, to borrow money rather than miss rent, or to finally give up on what they're owed.
In fact, cannabis media workers identified numerous publications they feel have tried in earnest to pay employees and/or contractors in a competitive or at least timely manner, and that have been largely successful, as far as those workers were aware.
While you're here, how about this:
Stimulus Checks And Multi-Trillion Dollar Bailouts Are Making Money 'A Big Joke'
Governments around the world have bailed out businesses to the tune of trillions of dollars, sending ... [+] stimulus checks and paying wages to try to keep economies afloat amid crippling coronavirus-induced lockdowns.
The extreme shock-and-awe response to the economic devastation wrought by the coronavirus pandemic has plunged the world into uncharted territory, with the financial and economic status quo badly shaken.
"These numbers are so large that they no longer have any meaning; they are simply abstractions," Dillian wrote, pointing to warnings made by former Fed chairman Paul Volcker that "it is a governmental responsibility to maintain the value of the currency they issue. And when they fail to do that, it is something that undermines an essential trust in government."
Why Smart Money Would Pick Southwest Over JetBlue
SALT LAKE CITY, UT - SEPTEMBER 28, 2014: The Southwest Airlines logo on the wall behind the ... [+] ticketing agents at Salt Lake City International Airport in Utah. (Photo by Robert Alexander/Getty Images)
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JetBlue's P/E based on 2019 earnings has declined from over 10x in 2019 to 5x currently, while Southwest's multiple has declined from 13x to about 7x. The steeper decline in JetBlue's multiple can be attributed to its larger fleet and higher debt-to-equity ratio. Moreover, we believe that Southwest would continue to outperform JetBlue due to its higher net margin, stronger cash position, and better solvency ratio.
The Paycheck Protection Program has run out of money, but it's not the only option to keep
But that program has now run out of funds — and many small-business owners fear that if Congress doesn't act quickly on round two of PPP, businesses will be left behind and ultimately forced to close shop.
Many small businesses jumped at that opportunity, and within 13 days the funds were completely exhausted. (The SBA did not respond to MarketWatch's request for comment.)
Lawmakers on Capitol Hill are expected to approve measures to expand the program this week, Treasury Secretary Steven Mnuchin said. "I'm hopeful we can reach an agreement the Senate can pass tomorrow and the House can pass Tuesday," Mnuchin said Sunday on CNN.
Need money? Exasperated by the pace of government help?
The cancellations at Roshonda Walker's massage studio in Berkeley had already begun trickling in, and then the shelter-in-place order took effect. When Walker was forced to close her small business — Royal Touch Massage Therapy — she found herself among the more than 3.1 million Californians who lost their jobs in the last month due to the COVID-19 pandemic.
Almost as quickly as the pandemic shuttered storefronts, individuals sprung into action to provide relief. Signs offering mutual aid — support for the elderly and immunocompromised — appeared on telephone poles in virtually every neighborhood.
Happening on Twitter
I am not a doctor by any stretch of the imagination, but after analyzing the empirical data over the last two month… https://t.co/XudEeWt5oF RealCandaceO (from New York, USA) Mon Apr 20 14:14:01 +0000 2020
Determinei à Polícia Federal a abertura de investigações para apurar de forma implacável qualquer desvio de verba f… https://t.co/MhZi0RXGeX SF_Moro (from Brasília, Brasil) Mon Apr 20 22:04:13 +0000 2020
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