DOCSLIB.ORG

Extensive Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Extensive Report PPP AT SIX MONTHS: A Flawed Program That Came Up Short Executive Summary The Trump Administration’s Paycheck Protection Program (PPP) has been rife with problems and confusion since day one. • The program has regularly faced criticism over transparency. Through April and May, the Treasury department released only topline information on distributed loans – and on June 11, Treasury Secretary Mnuchin said the Trump administration would not disclose PPP loan information, describing it as “proprietary” and “confidential.” But following bipartisan pushback, the Trump administration shifted course and agreed to disclose the names of borrowers for PPP loans in the amount of $150,000 or more, which was described as a compromise. (Additional background: The PPP utilized the existing framework of the SBA’s 7(a) loan program. 7(a) loans were subject to disclosure under public records laws: of loan recipients, loan amounts, officer names, loan terms, etc.) A compromise release of the data, providing all loan amounts but only information on borrowers above $150,000, only provided 14- percent of borrower information, and accounted for only 75-percent of funds. The Pandemic Response Accountability Committee has since called for providing company information on PPP loans above $25,000. • The program includes loopholes designed to help the restaurant and hotel industries. The CARES Act included language, described as a “special-interest provision” by the New York Times, to allow chain restaurants and hotels to file for small business grants despite exceeding employment figures. The language was fought for by the National Restaurant Association. Chain restaurants have subsequently taken tens of millions in PPP funds. • The program has undergone a large number of changes, issuing at least 21 administrative “interim final rules” on aspects of the program as loans were disbursed. And actual small businesses have struggled to keep up with, apply for, understand, and meet the terms of it. • The Government Accountability Office wrote that the “complexity of [the] loan forgiveness process creates [a] burden.” The program’s design was not only confusing, it led to wealthy, publicly traded companies cashing in on relief dollars while truly small businesses were left to fend for themselves. • The PPP depleted its initial funding of $349 billion on April 15, just twelve days into the program. (The fund was replenished with $310 billion on April 24.) • In mid-April, large, publicly-traded companies like Potbelly and Ruth’s Chris came under scrutiny for taking advantage of the program. Potbelly initially returned the loan – but subsequently reapplied, receiving $10 million on the penultimate day of the program. • On May 11, seven members of the Select Subcommittee on the Coronavirus Crisis wrote to 5 companies that had received large loans, asking for them to return the funds. As of September 2020, only one has done so. • As of mid-September 2020, nearly 10,000 publicly traded companies – many of whom would go on to report strong earnings for Q2 2020 and even pay out millions to Wall Street investors in dividends and share buybacks – had taken in at least $1.6 billion in PPP funds. • Startups tied to Jared Kushner’s brother Josh got at least $2.8 million in PPP funds. • Foreign-owned firms also gained access to PPP funding, including at least one firm that specifically specializes in outsourcing work to foreign countries. 2 • Despite handing out billions of dollars, the program isn’t necessarily prioritizing workers. After the Paycheck Protection Program Flexibility Act (PPFA) was signed into law on June 5, 2020, the legislation received some pushback from labor groups, saying business bottom lines were being prioritized over workers. The legislation: o Dropped the percentage of PPP funds required to be put into payroll, to 60-percent from 75- percent. o Extended the amount of time for PPP loans to be spent, to 24 weeks from 8 weeks. o Extended the minimum maturity term of a PPP loan, to five years from two years. The program’s design also left communities of color and less wealthy areas behind. • Up to 90-percent of businesses owned by people of color or women were likely shut out of the Paycheck Protection Program. • “Of all small businesses, businesses without employees were the most likely to face challenges accessing PPP funds in the initial round. […] Businesses owned by people of color are even more likely to have no employees, putting them at a disadvantage to larger businesses that could garner higher fees. […] Nearly 95% of Black-owned firms were non-employers, and 91% of Latino-owned firms were non-employers. In comparison, 78%, of white firms are non-employer businesses.” • One study indicated that only 12-percent of black and Latino business owners who applied for SBA relief have received what they asked for and 26% said they “received only a fraction of what they had requested.” • Accountable.US found that the ten Congressional districts with the highest percentage of black residents got nearly $12 billion less in PPP funding than the ten districts with the least number of black residents, a difference of over 64,000 fewer loans. • The poorest Congressional districts received $13 billion less in PPP funds than the nation’s wealthiest districts. The program was rife with fraud and millions went to businesses that didn’t exist or that inflated their employee counts. • As of September 17, 2020, the Department of Justice and United States District Attorneys had announced charges against 87 people for PPP fraud amounting to at least $88 million. • Treasury Secretary Mnuchin responded to outcry by calling for audits and investigations of large companies, but subsequently walked that back. • The fraud and misuse of the PPP followed governmental and experts criticisms about a lack of oversight, as well as warnings from business owners on how the program’s design could be exploited. We still are without answers to basic questions like… • As the number of cases of fraudulently received PPP loans increases across the country, how exactly were loans through the PPP approved? • Are audits of loans occurring, and if so, how and when are they being conducted? Who’s conducting the audits? • Which loans will now be approved for forgiveness and how is forgiveness being decided? 3 Table of Contents PPP At Six Months: A Flawed Program That Came Up Short .......................................................................... 1 Paycheck Protection Program: Background And Basics ................................................................................. 7 FACT SHEET: Basic PPP Info .....................................................................................................................................8 TIMELINE: Paycheck Protection Program Legislative And Administrative Changes .................................................. 10 The Paycheck Protection Program Was A Small Business Relief Program Initially Funded Out Of The CARES Act, Designed To Provide Small Business Relief During COVID-19 Via Forgivable Loans ................................................. 14 POOR DESIGN AND IMPLEMENTATION: The Paycheck Protection Program’s Scattershot Implementation, Mismanagement, And Lack Of Transparency Left It Vulnerable To Fraud And Misuse.................................. 17 PPP’s Scattershot Implementation Led To Confusion And Delays, Harming Businesses ........................................... 18 Despite Assurances From The Administration, Large And Public Corporations Benefitted From The PPP ................. 21 The Trump Administration Faced Criticism Over Lack Of Transparency In The Program – Resulting In A Compromise Release Of Data That Only Displayed 14-Percent Of Borrowers In The Program...................................................... 23 The PPP Was Inefficient And Failed To Support Workers…Each Job Saved Cost Taxpayers $228K+ .......................... 26 BENEFITTED THOSE AT THE TOP: Intended As A Life-Line For Small Businesses, The PPP Benefitted The Wealthy And Well-Connected .................................................................................................................... 27 The Trump Administration Said The PPP Was Intended To Help Small Businesses Amidst The COVID-19 Pandemic . 28 Studies Of The Paycheck Protection Program Found It Was Most Beneficial Towards Larger Firms And Firms Which Could Quickly Reopen .......................................................................................................................................... 28 After Lobbying For Access To PPP Funding, Large Chain Restaurants (With High Employee Counts And Higher Executive Pay) Took Tens Of Millions In PPP Funds ................................................................................................ 29 Potbelly Corporation Received National Attention As A Firm Receiving PPP Funds Despite Being A Large Corporation – The Firm Returned The Loan Following Outcry, But Has Since Reapplied And Received $10 Million ...................... 36 Upscale Restaurant And Real Estate Firms Benefitted From The PPP ...................................................................... 38 A.US ANALYSIS: Earnings Reports Revealed That The Trump Administration Continued Giving PPP Aid To Public Companies Despite Good Financial Standings And Payouts To Shareholders .......................................................... 39 Companies Connected To Major Republican Financiers Took As Much As $45 Million In PPP Funds. ......................
Load more

Recommended publications
  • R Trader Instruments Cfds and Stocks
    DE SHARES Ticker Company Ticker Company Ticker Company 1COV.DE COVESTRO AG FNTN.DE FREENET AG P1Z.DE PATRIZIA IMMOBILIEN AG AAD.DE AMADEUS FIRE AG FPE.DE FUCHS PETROLUB vz PBB.DE DEUTSCHE PFANDBRIEFBANK AG ACX1.DE BET-AT-HOME.COM AG FRA.DE FRAPORT AG FRANKFURT AIRPORTPFV.DE PFEIFFER VACUUM TECHNOLOGY ADJ.DE ADO PROPERTIES FRE.DE FRESENIUS PSM.DE PROSIEBENSAT.1 MEDIA SE ADL.DE ADLER REAL ESTATE AG G1A.DE GEA PUM.DE PUMA SE ADS.DE ADIDAS AG G24.DE SCOUT24 AG QIA.DE QIAGEN N.V. ADV.DE ADVA OPTICAL NETWORKING SE GBF.DE BILFINGER SE RAA.DE RATIONAL AFX.DE CARL ZEISS MEDITEC AG - BR GFT.DE GFT TECHNOLOGIES SE RHK.DE RHOEN-KLINIKUM AG AIXA.DE AIXTRON SE GIL.DE DMG MORI RHM.DE RHEINMETALL AG ALV.DE ALLIANZ SE GLJ.DE GRENKE RIB1.DE RIB SOFTWARE SE AM3D.DE SLM SOLUTIONS GROUP AG GMM.DE GRAMMER AG RKET.DE ROCKET INTERNET SE AOX.DE ALSTRIA OFFICE REIT-AG GWI1.DE GERRY WEBER INTL AG S92.DE SMA SOLAR TECHNOLOGY AG ARL.DE AAREAL BANK AG GXI.DE GERRESHEIMER AG SAX.DE STROEER SE & CO KGAA BAS.DE BASF SE HAB.DE HAMBORNER REIT SAZ.DE STADA ARZNEIMITTEL AG BAYN.DE BAYER AG HBM.DE HORNBACH BAUMARKT AG SFQ.DE SAF HOLLAND S.A. BC8.DE BECHTLE AG HDD.DE HEIDELBERGER DRUCKMASCHINENSGL.DE SGL CARBON SE BDT.DE BERTRANDT AG HEI.DE HEIDELBERGCEMENT AG SHA.DE SCHAEFFLER AG BEI.DE BEIERSDORF AG HEN3.DE HENKEL AG & CO KGAA SIE.DE SIEMENS AG BIO4.DE BIOTEST AG HLAG.DE HAPAG-LLOYD AG SIX2.DE SIXT SE BMW.DE BAYERISCHE MOTOREN WERKE AGHLE.DE HELLA KGAA HUECK & CO SKB.DE KOENIG & BAUER AG BNR.DE BRENNTAG AG HNR1.DE HANNOVER RUECK SE SPR.DE AXEL SPRINGER SE BOSS.DE HUGO BOSS
    [Show full text]
  • Market Cap Close ADV 1598 67Th Pctl 745,214,477.91 $ 23.96
    Market Cap Close ADV 1598 67th Pctl $ 745,214,477.91 $ 23.96 225,966.94 801 33rd Pctl $ 199,581,478.89 $ 10.09 53,054.83 2399 Ticker_ Listing_ Effective_ Revised Symbol Security_Name Exchange Date Mkt Cap Close ADV Stratum Stratum AAC AAC Holdings, Inc. N 20160906 M M M M-M-M M-M-M AAMC Altisource Asset Management Corp A 20160906 L M L L-M-L L-M-L AAN Aarons Inc N 20160906 H H H H-H-H H-H-H AAV Advantage Oil & Gas Ltd N 20160906 H L M H-L-M H-M-M AB Alliance Bernstein Holding L P N 20160906 H M M H-M-M H-M-M ABG Asbury Automotive Group Inc N 20160906 H H H H-H-H H-H-H ABM ABM Industries Inc. N 20160906 H H H H-H-H H-H-H AC Associated Capital Group, Inc. N 20160906 H H L H-H-L H-H-L ACCO ACCO Brand Corp. N 20160906 H L H H-L-H H-L-H ACU Acme United A 20160906 L M L L-M-L L-M-L ACY AeroCentury Corp A 20160906 L L L L-L-L L-L-L ADK Adcare Health System A 20160906 L L L L-L-L L-L-L ADPT Adeptus Health Inc. N 20160906 M H H M-H-H M-H-H AE Adams Res Energy Inc A 20160906 L H L L-H-L L-H-L AEL American Equity Inv Life Hldg Co N 20160906 H M H H-M-H H-M-H AF Astoria Financial Corporation N 20160906 H M H H-M-H H-M-H AGM Fed Agricul Mtg Clc Non Voting N 20160906 M H M M-H-M M-H-M AGM A Fed Agricultural Mtg Cla Voting N 20160906 L H L L-H-L L-H-L AGRO Adecoagro S A N 20160906 H L H H-L-H H-L-H AGX Argan Inc N 20160906 M H M M-H-M M-H-M AHC A H Belo Corp N 20160906 L L L L-L-L L-L-L AHL ASPEN Insurance Holding Limited N 20160906 H H H H-H-H H-H-H AHS AMN Healthcare Services Inc.
    [Show full text]
  • Market Cap Close ADV
    Market Cap Close ADV 1598 67th Pctl $745,214,477.91 $23.96 225,966.94 801 33rd Pctl $199,581,478.89 $10.09 53,054.83 2399 Listing_ Revised Ticker_Symbol Security_Name Exchange Effective_Date Mkt Cap Close ADV Stratum Stratum AAC AAC Holdings, Inc. N 20160906 M M M M-M-M M-M-M Altisource Asset Management AAMC Corp A 20160906 L M L L-M-L L-M-L AAN Aarons Inc N 20160906 H H H H-H-H H-H-H AAV Advantage Oil & Gas Ltd N 20160906 H L M H-L-M H-M-M AB Alliance Bernstein Holding L P N 20160906 H M M H-M-M H-M-M ABG Asbury Automotive Group Inc N 20160906 H H H H-H-H H-H-H ABM ABM Industries Inc. N 20160906 H H H H-H-H H-H-H AC Associated Capital Group, Inc. N 20160906 H H L H-H-L H-H-L ACCO ACCO Brand Corp. N 20160906 H L H H-L-H H-L-H ACU Acme United A 20160906 L M L L-M-L L-M-L ACY AeroCentury Corp A 20160906 L L L L-L-L L-L-L ADK Adcare Health System A 20160906 L L L L-L-L L-L-L ADPT Adeptus Health Inc. N 20160906 M H H M-H-H M-H-H AE Adams Res Energy Inc A 20160906 L H L L-H-L L-H-L American Equity Inv Life Hldg AEL Co N 20160906 H M H H-M-H H-M-H AF Astoria Financial Corporation N 20160906 H M H H-M-H H-M-H AGM Fed Agricul Mtg Clc Non Voting N 20160906 M H M M-H-M M-H-M AGM A Fed Agricultural Mtg Cla Voting N 20160906 L H L L-H-L L-H-L AGRO Adecoagro S A N 20160906 H L H H-L-H H-L-H AGX Argan Inc N 20160906 M H M M-H-M M-H-M AHC A H Belo Corp N 20160906 L L L L-L-L L-L-L ASPEN Insurance Holding AHL Limited N 20160906 H H H H-H-H H-H-H AHS AMN Healthcare Services Inc.
    [Show full text]
  • Open Kuehn Dissertation Final Draft.Pdf
    The Pennsylvania State University The Graduate School College of Communications PROSUMER-CITIZENSHIP AND THE LOCAL: A CRITICAL CASE STUDY OF CONSUMER REVIEWING ON YELP.COM A Dissertation in Mass Communications by Kathleen M. Kuehn © 2011 Kathleen M. Kuehn Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy August 2011 The dissertation of Kathleen Kuehn was reviewed and approved* by the following: Patrick Parsons Professor of Telecommunications Dissertation Adviser Chair of Committee Michael Elavsky Assistant Professor of Film/Media Studies Matthew P. McAllister Professor of Film/Media Studies Michelle Miller-Day Associate Professor of Communication Arts and Sciences Marie Hardin Associate Professor of Journalism Associate Dean for Graduate Studies and Research *Signatures are on file in the Graduate School. ii ABSTRACT Over the past few years, content developers searching for new markets have found a potentially lucrative consumer base in local and location-based services as new media platforms have begun to “expand” their focus to hyper-local place-based communities. This shift to “local 2.0” has given birth to “local listing sites,” an emerging social medium that converges the content of traditional Yellow Pages, consumer-generated content and the interactive features of social network sites. Such sites harness the productive power of “prosumers,” the hybrid subjectivity of new media users who simultaneously produce and consume online content (Tapscott & Williams, 2006). These sites capitalize on the productivity of users who create discourses through and about local consumption by voluntarily rating and reviewing local businesses and services, challenging the power of institutions traditionally responsible for the production of consumer culture and reputation management (e.g., local business owners, marketers, advertisers, professional critics).
    [Show full text]
  • Alternative Investment Analyst Review
    Alternative Investment Analyst Review EDITOR’S LETTER Hossein Kazemi WHAT A CAIA MEMBER SHOULD KNOW Alternative Beta: Redefining Alpha and Beta Soheil Galal, Rafael Silveira, and Alison Rapaport RESEARCH REVIEW OPEC Spare Capacity, the Term Structure of Oil Futures Prices, and Oil Futures Returns Hilary Till FEATURED INTERVIEW Mebane Faber on ETFs NEWS AND VIEWS The Time Has Come for Standardized Total Cost Disclosure for Private Equity Andrea Dang, David Dupont, and Mike Heale CAIA MEMBER CONTRIBUTION The Hierarchy of Alpha Christopher M. Schelling, CAIA INVESTMENT STRATEGIES Private Market Real Estate Investment Options for Defined Contribution Plans: New and Improved Solutions Jani Venter and Catherine Polleys PERSPECTIVES M&A Activity: Where Are We In the Cycle? Fabienne Cretin, Stéphane Dieudonné, and Slimane Bouacha Nowcasting: A Risk Management Tool Alexander Ineichen, CAIA VC-PE INDEX Mike Nugent and Mike Roth THE IPD GLOBAL INTEL REPORT Max Arkey Q3 2015, Volume 4, Issue 2 Chartered Alternative Investment Analyst Association® Call for Articles Article submissions for future issues of Alternative Investment Analyst Review (AIAR) are always welcome. Articles should cover a topic of interest to CAIA members and should be single-spaced. Additional information on submissions can be found at the end of this issue. Please email your submission or any questions to AIAR@CAIA. org. Chosen pieces will be featured in future issues of AIAR, archived on CAIA.org, and promoted throughout the CAIA community. Editor’s Letter Efficiently Inefficient The efficiency of market prices is one of the central questions in financial economics. The central thesis is that security markets are perfectly efficient, but this leads to two paradoxes: First, no one has an incentive to collect information in an efficient market, so how does the market become efficient? Second, if asset markets are efficient, then positive fees to active managers implies inefficient markets for asset management.
    [Show full text]
  • 2012 Annual Report
    2012 ANNUAL REPORT Table of Contents Letter from the President & CEO ......................................................................................................................5 About The Paley Center for Media ................................................................................................................... 7 Board Lists Board of Trustees ........................................................................................................................................8 Los Angeles Board of Governors ................................................................................................................ 10 Public Programs Media As Community Events ......................................................................................................................14 INSIDEMEDIA/ONSTAGE Events ................................................................................................................15 PALEYDOCFEST ......................................................................................................................................20 PALEYFEST: Fall TV Preview Parties ...........................................................................................................21 PALEYFEST: William S. Paley Television Festival ......................................................................................... 22 Special Screenings .................................................................................................................................... 23 Robert M.
    [Show full text]
  • The Public Eye, Summer 2011
    Tea Party, p. 3 TheA PUBLICATION OF POLITICAL R PublicEyeESEARCH ASSOCIATES Summer 2011 • Volume XXVI, No.2 Arizona’s Anti- Immigrant Law SB1070 Where Did It Come From, Where Is It Going? By Lauri Lebo isericordia .The word washes across Mthe congregation at the tiny church, carried by voices singing in Spanish. Mercy. b Young girls, their long, shiny black hair u h S covered in sheer white doilies, sit close to n e l l E each other in the pews at Surprise Apos - © tolic Assembly in suburban Phoenix, Ari - Boston demonstrators support Wisconsin public employees, February 2011 zona, chattering and giggling into their hands. Mothers and grandmothers, their hair covered in scarves of black lace, lean over and gently shush them. A handsome The Attack on Unions young man with baby-smooth skin and Right-Wing Politics and Democratic Possibilities glistening hair neatly parted at the side steps forward to the pulpit. Steve Montenegro, By Abby Scher servatives what they could do once they the youth minister, beckons to the con - The November 2010 Republican were in charge: how deeply they could cut gregation’s children, who gather at his Sweep government, and how successfully they feet. He praises the little ones for their inno - ore than a million people watched on could go after union “bosses,” even with a cence as their mothers snap photos from MYoutube as New Jersey Governor Democratic legislature. Elected only in the pews. Chris Christie sneered at a public school 2009, Christie quickly became an inspi - Steve’s father, José Roberto Montene - teacher who had the temerity to ask him at ration for the Right, as he went full throt - gro, the church’s pastor, delivers the sermon tle in blaming unions for the grossly a September 2010 town meeting how his SB1070 continues on page 12 policies would help the middle class when underfunded state pension system and the $11 billion deficit he inherited.
    [Show full text]
  • 2018 FINTECH100 Leading Global Fintech Innovators 2017 FINTECH100
    2018 FINTECH100 Leading Global Fintech Innovators 2017 FINTECH100 Leadin loba Fintec nnovators 1 1 2016 2017 Fintech100 Report FINTECH100 Leadin loba Fintec nnovators Company #00 1 | Fintech Innovators 2016 1 2015 Fintech100 Report FINTECH 100 Leading Global “ Fintech Innovators Report 2015 Company Description At a Glance Tag Line Located Year Founded Key People Website Specialisation Staff Enabler or Disruptor Key Investors Ownership Size User Engagement $ $ $ $ $ The 100 Leading Fintech Innovators Report 2016 Fintech100 Report The 50 Best Fintech Innovators Report 2014 Fintech100 Report 2 About the List The Fintech100 is a collaborative effort between H2 Ventures and KPMG. In its fifth year, the Fintech100 uncovers and evaluates the most innovative Fintech companies globally. The Fintech100 comprises a ‘Top 50’ and an ‘Emerging 50’ and highlights those companies globally that are taking advantage of technology and driving disruption within the financial services industry. A judging panel comprised of senior partners from H2 Ventures and KPMG has decided the final composition of the Fintech100 list. H2 Ventures H2 Ventures is a global thought leader in fintech venture capital investment. Founded by brothers Ben and Toby Heap, and based in Sydney, Australia, it invests alongside entrepreneurs and other investors in early stage fintech ventures. H2 Ventures is the manager of the H2 Accelerator – Australia’s only dedicated fintech accelerator – and operates out of Sydney’s dynamic Startup Hub. Twitter @H2_Ventures LinkedIn H2 Ventures Facebook H2 Ventures KPMG Global Fintech The financial services industry is transforming with the emergence of innovative, new products, channels and business models. This wave of disruption is primarily driven by evolving customer expectations, digitalisation, as well as continued regulatory and cost pressures.
    [Show full text]
  • View Whitepaper
    INFRAREPORT Top M&A Trends in Infrastructure Software EXECUTIVE SUMMARY 4 1 EVOLUTION OF CLOUD INFRASTRUCTURE 7 1.1 Size of the Prize 7 1.2 The Evolution of the Infrastructure (Public) Cloud Market and Technology 7 1.2.1 Original 2006 Public Cloud - Hardware as a Service 8 1.2.2 2016 - 2010 - Platform as a Service 9 1.2.3 2016 - 2019 - Containers as a Service 10 1.2.4 Container Orchestration 11 1.2.5 Standardization of Container Orchestration 11 1.2.6 Hybrid Cloud & Multi-Cloud 12 1.2.7 Edge Computing and 5G 12 1.2.8 APIs, Cloud Components and AI 13 1.2.9 Service Mesh 14 1.2.10 Serverless 15 1.2.11 Zero Code 15 1.2.12 Cloud as a Service 16 2 STATE OF THE MARKET 18 2.1 Investment Trend Summary -Summary of Funding Activity in Cloud Infrastructure 18 3 MARKET FOCUS – TRENDS & COMPANIES 20 3.1 Cloud Providers Provide Enhanced Security, Including AI/ML and Zero Trust Security 20 3.2 Cloud Management and Cost Containment Becomes a Challenge for Customers 21 3.3 The Container Market is Just Starting to Heat Up 23 3.4 Kubernetes 24 3.5 APIs Have Become the Dominant Information Sharing Paradigm 27 3.6 DevOps is the Answer to Increasing Competition From Emerging Digital Disruptors. 30 3.7 Serverless 32 3.8 Zero Code 38 3.9 Hybrid, Multi and Edge Clouds 43 4 LARGE PUBLIC/PRIVATE ACQUIRERS 57 4.1 Amazon Web Services | Private Company Profile 57 4.2 Cloudera (NYS: CLDR) | Public Company Profile 59 4.3 Hortonworks | Private Company Profile 61 Infrastructure Software Report l Woodside Capital Partners l Confidential l October 2020 Page | 2 INFRAREPORT
    [Show full text]
  • Teleopathy March 2015
    Teleopathy March 2015 Simply stated, the value of a business today is the sum of all the money it will make in the future. Peter Thiel I’m reading Peter Thiel’s business best seller Zero to One. It was given to me as a holiday gift, as I am encountering more students and clients who hail from startup, technology-driven companies, and perhaps different generational ideals and values. The book is based on his Stanford Start Up course notes. I gladly accepted the book hoping to learn more. And I am. However, the book isn’t just a book about startups, it is a book about the motivation of a group of entrepreneurs and their start up economic philosophy. According to Forbes, Fortune and The Economist, Theil is an American entrepreneur, venture capitalist, and hedge fund manager. Thiel co-founded PayPal with Max Levchin and Elon Musk and served as its CEO. He also co-founded Palantir (the big data consultancy), of which he is chairman. He serves as president of Clarium Capital, a global macro hedge fund with $700 million in assets under management; a managing partner in Founders Fund, a venture capital fund with $2 billion in assets under management; is co-founder and investment committee chair of Mithril Capital Management; and co-founder and chairman of Valar Ventures. He was the first outside investor in Facebook, the popular social networking site, with a 10.2% stake acquired in 2004 for $500,000, and he sits on the company's board of directors. Thiel was ranked #293 on the Forbes 400 in 2011, with a net worth of $1.5 billion as of March 2012.
    [Show full text]
  • The New York Times/CBS News Poll
    POLL NEW YORK STATE Oct. 10-15, 2010 Total N = 1,139 Registered N = 943 Results are based on the total statewide sample unless otherwise noted. An asterisk indicates registered respondents. Percentages labeled with an L have been weighted to a likely voter model based on stated intention of voting and past voting behavior adjusted for regional differences in turnout in previous years. TRENDS ARE BASED ON NEW YORK TIMES POLLS EXCEPT: NEW YORK TIMES/CBS NEWS POLLS - OCT. 1998 - OCT. 2000 NEW YORK TIMES/WCBS-TV POLLS - SEPT. 1994 & OCT. 1994 NEW YORK TIMES/CORNELL UNIVERSITY/NY1 - JUNE 2009 Some people are registered to vote and others are not. Are you registered to vote in the election district where you now live, or aren't you? Yes No DK/NA 10/10-15/10 74 26 - 1. How much attention have you been able to pay to the 2010 election campaigns in New York -- a lot, some, not much, or no attention so far? A lot Some Not much No attention DK/NA 9/29-10/2/94*1 23 47 26 4 - 10/26-29/94*1 34 44 19 3 - 10/1-6/98*1 20 45 25 9 1 10/21-25/98*1 21 51 24 4 1 10/12-16/02*1 27 47 19 7 - 9/24-27/06*1 20 42 28 9 1 10/10-15/10* 31 42 23 5 1 Question read: “How much attention have you been able to pay to this year’s campaign for governor of New York .
    [Show full text]
  • Super Pacs and 501(C) Groups in the 2016 Election
    Super PACs and 501(c) Groups in the 2016 Election David B. Magleby* Brigham Young University Paper presented at the “State of the Parties: 2016 and Beyond”, Ray C. Bliss Institute of Applied Politics, University of Akron. November 9-10, 2017. *I would like to acknowledge the research assistance of Hyrum Clarke, Ben Forsgren, John Geilman, Jake Jensen, Jacob Nielson, Blake Ringer, Alena Smith, Wen Je (Fred) Tan, and Sam Williams all BYU undergraduates. Data made available by the Center for Responsive Politics was helpful as were two interviews with Robert Maguire, whose expertise in political nonprofits was informative. 1 Super PACs and 501(c) Groups in the 2067 Election David B. Magleby Brigham Young University In only a short period of time, Super PACs have come to be one of the most important parts of American electoral politics. They raise and spend large sums of money in competitive federal elections. They have become fully integrated teammates with candidates, party leaders, and interest groups. While initially they were most visible in paying for television advertising, by 2016 they expanded their scope by providing a wide variety of campaign services once thought to be funded by candidate campaign committees (campaign events) or party committees, (get-out-the-vote, voter registration, list development). Where does the money come from that funds Super PACs and other outside groups? While much of the attention on sources of funding for Super PACs was initially on corporations and unions, the reality has been that most of the funding for Super PACs has been individuals. Publicly traded corporations have been infrequent funders of Super PACs, while unions have been more active in using Super PACs.
    [Show full text]