Unemployment benefits beat returning to work for some
The CARES Act's extra $600/week (equivalent to a full-time $15/hour salary) in unemployment benefits leaves a dilemma as some states reopen for business. Many hourly workers would earn significantly more and reduce health risks by collecting unemployment rather than returning to work, especially on a part-time basis.
Possible audits coming for big businesses taking PPP loans
As the LA Lakers (worth over $4 billion) and Shake Shack ($1.5 billion) return millions received in Paycheck Protection Program loans, Mitch McConnell has warned of potential "criminal liability" facing large companies who try to keep money intended for small businesses.
Another kind of paper is selling out
Sympathy cards. As everyone seems to know someone affected by COVID-19, stores nationwide face shortages of the somber new king of greeting cards. Bad news for paper product fixture Papyrus, which filed for bankruptcy and closed all their stores in January.
Hold the phones
Apple has been forced to delay production of the iPhone 12 by at least a month as the pandemic interrupts the global supply chain, while also slashing the number of phones produced by 20% in the second half of 2020 to account for reduced demand and buying time.