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-   -   How much will nhra get? (https://classracer.com/classforum/showthread.php?t=75813)

Bruce Noland 03-26-2020 02:42 PM

How much will nhra get?
 
From the Stimulus Bill that is working it's way through Congress??? Obviously it will be as much as the executives can get, but realistically what could that number be?

Billy Nees 03-26-2020 02:56 PM

Re: How much will nhra get?
 
I don't know exactly what Congress considers a "Small Business". Larger businesses will qualify for lower-cost loans so I don't know that they're qualified to "get" anything.

Bruce Noland 03-26-2020 03:28 PM

Re: How much will nhra get?
 
I believe as a not for profit they may be able to get some money. But don't know if that's zero percent loans or direct payments.

voltdr 03-26-2020 03:59 PM

Re: How much will nhra get?
 
I wonder why that matters............
Dan

Billy Nees 03-26-2020 04:50 PM

Re: How much will nhra get?
 
Quote:

Originally Posted by voltdr (Post 610863)
I wonder why that matters............
Dan


Curiosity on my part as a "shareholder" (member)!

Lenny5160 03-26-2020 05:03 PM

Re: How much will nhra get?
 
Quote:

Originally Posted by Billy Nees (Post 610864)
Curiosity on my part as a "shareholder" (member)!

Yeah, might increase our dividend!

Bruce Noland 03-26-2020 05:09 PM

Re: How much will nhra get?
 
At first it appeared that the nhra would qualify as a small business because it probably has less than 500 employees. But then after visiting the SBA site, I learned that any business that is nationally dominant in its industry does not qualify as a small business. So, back to reading preliminary reports on what the Stimulus bill is likely to cover and found there are tons of special interest provisions (nothing new) included in it's 880 pages. Provisions that deal with non profit and for profit organizations for different types of protection packages. It gets tricky when trying to figure out just what nhra may be entitled to receive, if anything, because it is a not-for-profit corporation. But up to 10 million dollars may be available to nhra if it qualifies for relief. And it appears almost everybody and every type of company qualifies for some sort of help. Some more so than others.

Bruce Noland 03-26-2020 05:12 PM

Re: How much will nhra get?
 
Quote:

Originally Posted by Billy Nees (Post 610864)
Curiosity on my part as a "shareholder" (member)!

As a "shareholder (member)" of nhra, you have the same status as a member of Sam's Club, according to Linda Louie - nhra attorney.

Timetraveler 03-26-2020 05:34 PM

Re: How much will nhra get?
 
Is it supposed to be a low interest loan that will be forgiven if the employees are keep on the job?
I think that ship has sailed!

Lew Silverman 03-26-2020 05:45 PM

Re: How much will nhra get?
 
From what I've been able to read, "Large Corporations" will have their loans managed by the Federal Reserve. Small Businesses have to deal with the Small Business Administration (SBA) which is notoriously slow to act on the loan requests. Should be interesting to see how much "relief" is actually provided. Employees need to come first!

Tom Meyer 03-26-2020 05:52 PM

Re: How much will nhra get?
 
I heard Nascar layed off some of there employees yesterday so they collect unemployment. Nhra mite do the same. They can,t live off everybody's pre entry fees for ever. Tom

corky 03-30-2020 02:57 PM

Re: How much will nhra get?
 
How do you lay off workers that don't work? It took over 90 days to get my competition license after my check was cashed.

GUMP 03-31-2020 10:08 AM

Re: How much will nhra get?
 
Quote:

Originally Posted by corky (Post 611141)
How do you lay off workers that don't work? It took over 90 days to get my competition license after my check was cashed.

Why race with the NHRA at all if you have such a low opinion of them?

HR9121 03-31-2020 10:58 AM

Re: How much will nhra get?
 
Quote:

Originally Posted by Lew Silverman (Post 610876)
From what I've been able to read, "Large Corporations" will have their loans managed by the Federal Reserve. Small Businesses have to deal with the Small Business Administration (SBA) which is notoriously slow to act on the loan requests. Should be interesting to see how much "relief" is actually provided. Employees need to come first!

Lew the large corporations made out like bandits. There's literally 5 people appointed to oversee 4 trillion dollars and they have no authority on how the money is spent.

Bruce Noland 03-31-2020 11:10 AM

Re: How much will nhra get?
 
Quote:

Originally Posted by HR9121 (Post 611188)
Lew the large corporations made out like bandits. There's literally 5 people appointed to oversee 4 trillion dollars and they have no authority on how the money is spent.

This phase of the stimulus is about 2.2 trillion and supposedly it will be overseen by an inspector general and a House oversight committee. But Trump is trying to throttle the IG and take control of the 500 billion that has been earmarked for the large corporations. This will probably necessitate a lawsuit by the House to resolve if Trump does not back off. Wasting precious time.

Fireofficer5 03-31-2020 11:10 AM

Re: How much will nhra get?
 
NHRA should get $0.00. They don't pay taxes.


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