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| Hotel Group Will Return Tens of Millions in Small Business Loans | Hotel Group Will Return Tens of Millions in Small Business Loans |
| (about 5 hours later) | |
| One of the biggest beneficiaries of the government’s small business lending program said on Saturday that its companies will return at least $70 million in loans received through the Paycheck Protection Program. | One of the biggest beneficiaries of the government’s small business lending program said on Saturday that its companies will return at least $70 million in loans received through the Paycheck Protection Program. |
| Ashford Inc., which oversees a tightly interwoven group of hotel and resorts, had seen its subsidiaries apply for $126 million in loans and the firm had previously said it planned to keep the money it received. | Ashford Inc., which oversees a tightly interwoven group of hotel and resorts, had seen its subsidiaries apply for $126 million in loans and the firm had previously said it planned to keep the money it received. |
| On Saturday, citing new guidelines from the Small Business Administration that restrict who can receive funding, the company said its firms will return the loans. The decision came after media outlets, including The New York Times, detailed how Ashford had benefited from a program intended to help small businesses struggling to keep workers on payroll amid the coronavirus pandemic. | On Saturday, citing new guidelines from the Small Business Administration that restrict who can receive funding, the company said its firms will return the loans. The decision came after media outlets, including The New York Times, detailed how Ashford had benefited from a program intended to help small businesses struggling to keep workers on payroll amid the coronavirus pandemic. |
| The Trump administration had scrambled to tighten the program’s rules after it became clear that companies like Ashford, along with other publicly-traded firms, were benefiting from a $660 billion program. | The Trump administration had scrambled to tighten the program’s rules after it became clear that companies like Ashford, along with other publicly-traded firms, were benefiting from a $660 billion program. |
| Last week, Treasury Secretary Steven Mnuchin said companies had until May 7 to voluntarily return the funds and that firms could be held “criminally liable” if they did not meet the program’s criteria. He said the United States would audit any company that received more than $2 million in loans. | Last week, Treasury Secretary Steven Mnuchin said companies had until May 7 to voluntarily return the funds and that firms could be held “criminally liable” if they did not meet the program’s criteria. He said the United States would audit any company that received more than $2 million in loans. |
| The huge amount of money Ashford and its related companies applied for — more than any other known company — caught lawmaker attention. Senator Chuck Schumer, Democrat of New York and the minority leader, had asked for an investigation into the company’s loans, and Joe Biden, the presumptive Democratic nominee for this year’s presidential race, wrote on Twitter that the firm should give the money back. | The huge amount of money Ashford and its related companies applied for — more than any other known company — caught lawmaker attention. Senator Chuck Schumer, Democrat of New York and the minority leader, had asked for an investigation into the company’s loans, and Joe Biden, the presumptive Democratic nominee for this year’s presidential race, wrote on Twitter that the firm should give the money back. |
| Ashford Inc. and related companies announced on Saturday that they would return the funds by the government’s May 7 deadline, saying the Small Business Administration’s rule changes, including one on April 30 that suggested that corporate groups should not have access to unlimited funding, had shaken their thinking about whether they qualified. | Ashford Inc. and related companies announced on Saturday that they would return the funds by the government’s May 7 deadline, saying the Small Business Administration’s rule changes, including one on April 30 that suggested that corporate groups should not have access to unlimited funding, had shaken their thinking about whether they qualified. |
| “While we believed then and continue to believe today that we qualify for P.P.P. loans based on the legislation and rule-making in place at the time our applications were submitted,” the company said in its statement, “continuous S.B.A. rule changes and evolving opinions by administration officials have led us to conclude that we may no longer qualify.” | “While we believed then and continue to believe today that we qualify for P.P.P. loans based on the legislation and rule-making in place at the time our applications were submitted,” the company said in its statement, “continuous S.B.A. rule changes and evolving opinions by administration officials have led us to conclude that we may no longer qualify.” |
| The company was one of several large firms that drew public ire after receiving funding that was intended to help smaller companies — like dry cleaners, restaurants and nail salons — keep paying their employees amid the coronavirus-induced shutdowns. Ashford’s ability to receive money became a flash point in large part because the program quickly ran out of its initial $349 billion, drawing long backlogs of unfunded loans and leaving many tinier companies without relief. Congress has since allocated another $310 billion to the program but that money is also expected to be quickly depleted. | The company was one of several large firms that drew public ire after receiving funding that was intended to help smaller companies — like dry cleaners, restaurants and nail salons — keep paying their employees amid the coronavirus-induced shutdowns. Ashford’s ability to receive money became a flash point in large part because the program quickly ran out of its initial $349 billion, drawing long backlogs of unfunded loans and leaving many tinier companies without relief. Congress has since allocated another $310 billion to the program but that money is also expected to be quickly depleted. |
| Ashford Inc. “could not have known that congressional appropriations for the program would be insufficient to cover the needs of all other businesses in the nation that have suffered similar harm,” it said in its statement. | Ashford Inc. “could not have known that congressional appropriations for the program would be insufficient to cover the needs of all other businesses in the nation that have suffered similar harm,” it said in its statement. |
| Updated June 24, 2020 | |
| Scientists around the country have tried to identify everyday materials that do a good job of filtering microscopic particles. In recent tests, HEPA furnace filters scored high, as did vacuum cleaner bags, fabric similar to flannel pajamas and those of 600-count pillowcases. Other materials tested included layered coffee filters and scarves and bandannas. These scored lower, but still captured a small percentage of particles. | |
| A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico. | A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico. |
| The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth. | The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth. |
| The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave. | The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave. |
| So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement. | So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement. |
| Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks. | Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks. |
| A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study. | A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study. |
| The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April. | The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April. |
| Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days. | Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days. |
| If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.) | If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.) |
| If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. | If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. |
| Ashford is headed by Monty Bennett, a conservative who has donated heavily to Republicans, including supporting Mr. Trump’s 2016 campaign and directly providing more than $150,000 so far to his re-election bid. He had joined the broader hotel and restaurant industry in lobbying for a carve-out that allowed individual properties to apply for help if they employed fewer than 500 people “per physical location.” | Ashford is headed by Monty Bennett, a conservative who has donated heavily to Republicans, including supporting Mr. Trump’s 2016 campaign and directly providing more than $150,000 so far to his re-election bid. He had joined the broader hotel and restaurant industry in lobbying for a carve-out that allowed individual properties to apply for help if they employed fewer than 500 people “per physical location.” |
| For a time, he and his companies remained determined to hold onto the funding even as other businesses — like Shake Shack and the Los Angeles Lakers — announced that they would return the money. Mr. Bennett had complained that no other government relief was available for the hospitality industry, which has been hit hard by the virus as travelers cancel vacations and business trips. | For a time, he and his companies remained determined to hold onto the funding even as other businesses — like Shake Shack and the Los Angeles Lakers — announced that they would return the money. Mr. Bennett had complained that no other government relief was available for the hospitality industry, which has been hit hard by the virus as travelers cancel vacations and business trips. |
| “We call on Congress, the Treasury Department and the Federal Reserve to provide assistance to the hotel industry to protect jobs and asset values that have been severely impaired as a result of the pandemic and the government’s actions that have followed,” Mr. Bennett said in Ashford’s Saturday statement. | “We call on Congress, the Treasury Department and the Federal Reserve to provide assistance to the hotel industry to protect jobs and asset values that have been severely impaired as a result of the pandemic and the government’s actions that have followed,” Mr. Bennett said in Ashford’s Saturday statement. |
| Mr. Bennett’s hospitality empire is one of several big companies that qualified for the program thanks to an intentional loophole that came after a lobbying push. Ashford pushed back on the idea that it was a “loophole” in its Saturday statement. | Mr. Bennett’s hospitality empire is one of several big companies that qualified for the program thanks to an intentional loophole that came after a lobbying push. Ashford pushed back on the idea that it was a “loophole” in its Saturday statement. |
| “Congress designed the P.P.P. to specifically allow companies that own multiple hotel properties to obtain separate loans for each property as a means to prevent the economic collapse of the hospitality industry,” it said. | “Congress designed the P.P.P. to specifically allow companies that own multiple hotel properties to obtain separate loans for each property as a means to prevent the economic collapse of the hospitality industry,” it said. |