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More than half a million businesses received the federal funds the Paycheck Protection Program (PPP). The program was created in March to help small business and their employees survive the financial impact of the pandemic. The program lent businesses money at a low-interest rate, with the potential for the loans to be forgiven or turned into a grant if the company retained and paid their workers for a given time.Watchdog groups, like U.S. PIRG, were among many groups and elected leaders that called for transparency with PPP. After initially resisting, in May, the U.S. Department of Treasury and the Small Business Administration announced they would release the names of all businesses that received a PPP loan in the amount of 0,000 or more.Earlier this month, that list was released. What has come to light is that millionaire, billionaires, and even some celebrities received the federal aid intended to help struggling small businesses. For example, rapper and fashion designer Kanye West, with an estimated net worth of .3 billion, received a PPP loan for his company Yeezy.“From the very outset, the public, watchdogs, and elected officials had a very good reason to want data to see where this money was going,” said R.J. Cross with U.S. PIRG. “As we just learned, we had good reason to be questioning is this program going to do what it was intended to do?”Cross is calling for the federal government to take steps to find out how much money went to small businesses and how much went to larger companies that may have had access to other sources of cash to get them through the financial hardship.“A big improvement on the program would be true audits on all of the loan amounts,” said Cross. “That, say, if we find that you could’ve probably gotten money somewhere else we are going to take those taxpayers dollars back.”Currently, only loans over million will be audited, but most of the loans taken out, including some by millionaires and billionaires, were just below that threshold.“We don’t have any proof to say that they picked that amount strategically, but it certainly raises questions,” Cross added.Watchdog groups say the only way to answer those questions for the American people is continued transparency and expanded audits.“Fraud and corruption are a real concern anytime the government is spending and giving money to companies, and especially, the pace in which it is happening right now,” Cross said. “There is reason to keep a very close eye on what is happening next. The biggest bailout in U.S. history deserves the most transparency in U.S. history.”The SBA and treasury department have not given an indication that they will expand audits. Even if they did, it would take months, and potentially years, to get the results of those audits, followed by a potential hurdle to make the results public. 2855
MSAN DIEGO (KGTV) -- Mayor Kevin Faulconer announced Monday that the city has repaired 655 miles of roads so far, which is ahead of schedule to meet the goal of 1,000 miles of roads by 2020.Averaging more than 300 miles per year puts the city ahead of schedule, even as a small percentage of repairs has required taking the roads down to the dirt.RELATED: San Diego County approves million road resurfacing project“The unprecedented investment we’ve made in road repair is showing results with more smooth streets in our neighborhoods,” Mayor Faulconer said. “There’s still a lot more work that needs to be done, but we’re making significant progress on an issue that is a top concern for so many residents.”Within the first two fiscal years of the pledge, the city fixed 595 miles of roads. Last year, an assessment showed the overall condition of city streets rose to 72 on a scale of zero to 100.RELATED: Mayor vows to fix more roads in San DiegoMayor Faulconer says if they do complete the work ahead of schedule they will assess additional roads and keep going.Click here to report potholes and road issues. Click on the image below to see repairs happening in your area: 1204
MoviePass is making big changes in a bid to stay alive.The service, which lets subscribers see a movie a day in the theater, is raising the price of its standard plan from to .95 per month. The change will take effect in the next 30 days.And some major releases will be "limited in their availability" on the service for the first two weeks they're in theaters.It's not clear how "limited" those films will be to MoviePass users. The company did say that big movies may be made available through promotions.MoviePass subscribers have already reported similar restrictions. For example, the blockbuster "Mission: Impossible — Fallout," which opened last weekend, was unavailable for at least some MoviePass customers.The changes come amid serious financial woes for the company, which borrowed million last week so it could pay for movie tickets.MoviePass is also facing some big competition: Less than an hour after the company announced its plans Tuesday, the theater chain AMC said it has enrolled 175,000 people in its own, similar service within the first five weeks of its debut.AMC charges per month for the ability to see three movies a week at any AMC location. It expects to reach 1 million members within two years.MoviePass, meanwhile, has more than 3 million subscribers. But analysts have questioned whether it can stay in business.Stock in its parent company, Helios and Matheson, has dropped more than 99 percent since last fall. The company's market value has plunged from .8 billion to less than million.The stock more than doubled on Tuesday after MoviePass announced the price increase, but it quickly gave up all of that gain. The stock closed down nearly 40 percent, at 50 cents per share.In a new "plan for profitability," the company also noted that cost-cutting has helped bring its cash-burning under control. It has been blowing through million to million each month, according to regulatory filings. 1976
MILWAUKEE – Milwaukee police are looking for the suspects involved in a “large fight” at a Wendy’s restaurant on the city’s north side.It happened on Monday around 6:15 p.m. at the restaurant.Floyd Taylor captured the fight on his cell phone -- as it escalated during the dinner rush.Taylor says he entered the Wendy’s and started ordering food. He says he saw an employee and manager arguing behind the counter and the tension started to escalate.Taylor says the manager left the store to call for help – and that’s when the punches started flying. Right now, there is no word if anyone was injured.Milwaukee Police are still investigating the incident. 673
NASHVILLE, Mich. - A family with a passion with aviation decided to take their hobby on the road.Gino Lucci of Nashville, Mich. is a pilot, mechanic, and federal inspector of aviation. His passion prompted an idea when he was a kid."I always wanted to do one, since I was 12-years-old, and I just wanted to make an airplane out of a motor home," said Lucci. "The truck won't fly, but the airplane drives."Lucci named the RV The Fabulous Flamingo.To make his plans a reality, Lucci's son Giacinto tracked down a plane in Missouri. It had been deemed inoperable due to a tornado that rolled through the area. The plane was built in 1943 and used in South America by the Navy during the World War II era."It took us about four to six weeks to really sit down and say, 'Alright, I’ll sell it to you," Giacinto recalled.The family gutted the airplane but tried to keep as much of the original interior as possible. Some of the parts they removed were sent to France to restore a similar plane for a D-Day memorial.The RV is classified as a Class A motor home and is up to safety standards. Local parts were also provided by Frontier Truck Parts in Dorr.This story was first reported by Angeline McCall at WXMI in Grand Rapids, Michigan. 1239