Complex Event Analysis - Report

Complex Event Analysis - REPORT

Supporting narratives:

• challenge (Read more)
• Over 500,000 businesses got PPP loans but are listed as retaining zero jobs, Treasury Department data show
  Published: July 8, 2020 at 5:04 p.m
• High Level Abstractions:
• (businesses,ppp)
• Inferred entity relationships (3)

  (businesses,ppp,small-business) [inferred]

  (businesses,ppp,trump) [inferred]

  (businesses,ppp,treasury_department) [inferred]

• challenge (Read more)
• Yet, wrinkles in the data point to issues the federal government will face when keeping businesses accountable once it comes time to verify whether the loans they received will be forgiven.
  A MarketWatch analysis of the government data found that just over 554,000 small businesses who got PPP funds reported retaining zero jobs
• High Level Abstractions:
• (ppp,wrinkles)
• (businesses,ppp)
• Inferred entity relationships (3)

  (businesses,ppp,small-business) [inferred]

  (businesses,ppp,trump) [inferred]

  (businesses,ppp,treasury_department) [inferred]

• challenge (Read more)
• Only 2% of businesses expected less than half their loan expenses to be forgiven, but Wade said this was more a reflection of companies having trouble meeting the criteria than them having applied for a loan with no intention of using it for payroll.
  The lack of data will make accountability challenging
  The incorrect or missing data regarding the number of workers these businesses kept employed throughout the pandemic exposes problems in the design of the PPP program, researchers say.
  "The government was offering free money, and businesses were lining up around the corner to take it," said Aaron Klein, a fellow and policy director of the Center on Regulation and Markets at the Brookings Institution, a Washington, D.C.-based think tank.
  Part of the problem, Klein said, is that the government relied on banks to administer the program, decentralizing the process
• High Level Abstractions:
• (ppp,washington)
• (policy,ppp)
• (businesses,ppp)
• (ppp,workers)
• (loan,ppp)
• Inferred entity relationships (6)

  (businesses,ppp,small-business) [inferred]

  (loan,ppp,trump) [inferred]

  (businesses,ppp,trump) [inferred]

  (businesses,ppp,treasury_department) [inferred]

  (loan,ppp,washington) [inferred]

  (loan,ppp,university) [inferred]

• challenge (Read more)
• "We are looking into how we are able to update this data."
  A survey conducted by National Federation of Independent Business, the largest trade group in the U.S. that represents small businesses, found that most PPP loan recipients planned to put the money toward approved uses. such as payroll costs. that would entitle them to forgiveness.
  "The vast majority of PPP loan borrowers applied for the loan specifically for the forgiveness element of it," said Holly Wade, NFIB's director of research and policy analysis
• High Level Abstractions:
• (loan,ppp)
• Inferred entity relationships (3)

  (loan,ppp,trump) [inferred]

  (loan,ppp,washington) [inferred]

  (loan,ppp,university) [inferred]

• challenge (Read more)
• Over 500,000 businesses got PPP loans but are listed as retaining zero jobs, Treasury Department data show
  Published: July 8, 2020 at 5:04 p.m.
• High Level Abstractions:
• (jobs,ppp)
• (ppp,treasury_department)

• challenge (Read more)
• Yet, wrinkles in the data point to issues the federal government will face when keeping businesses accountable once it comes time to verify whether the loans they received will be forgiven.
  A MarketWatch analysis of the government data found that just over 554,000 small businesses who got PPP funds reported retaining zero jobs. Nearly 50,000 of these business had received loans larger than $150,000, and more than 300 have received loans between $5 million and $10 million.
  Thousands more companies did not report how many jobs their loans saved
• High Level Abstractions:
• (jobs,ppp)

• challenge (Read more)
• that would entitle them to forgiveness.
  "The vast majority of PPP loan borrowers applied for the loan specifically for the forgiveness element of it," said Holly Wade, NFIB's director of research and policy analysis.
• High Level Abstractions:
• (policy,ppp)

• WIP (Read more)
• ET
  By Jacob Passy
  Missing jobs data on Paycheck Protection Program loan recipients will make accountability a challenge, experts say.
  There are gaps in the data the government collected about how many employees small businesses retained after receiving PPP loans.
  The Paycheck Protection Program was designed to help small business weather the coronavirus pandemic while keeping their workers employed.
  But government data suggests that hundreds of thousands of businesses across the country got access to funds without indicating how many jobs would be saved.
  On Monday, the Trump Administration released data on the small businesses nationwide that received loans through the $669-billion Paycheck Protection Program
• High Level Abstractions:
• (employees,ppp)
• (jobs,ppp)
• (loan,ppp)
• (businesses,ppp)
• (ppp,trump_administration)
• (ppp,weather)
• (ppp,workers)
• (paycheck_protection_program,ppp)
• Inferred entity relationships (9)

  (paycheck_protection_program,ppp,trump) [inferred]

  (businesses,ppp,small-business) [inferred]

  (paycheck_protection_program,ppp,washington) [inferred]

  (businesses,ppp,trump) [inferred]

  (loan,ppp,washington) [inferred]

  (loan,ppp,trump) [inferred]

  (businesses,ppp,treasury_department) [inferred]

  (paycheck_protection_program,ppp,university) [inferred]

  (loan,ppp,university) [inferred]

• WIP (Read more)
• Meridian Behavioral Healthcare, a mental health care provider in Gainesville, Fla., received a loan between $5 million and $10 million through the program, and according to the government data, it retained no employees. The company told MarketWatch that in fact it has retained all of its employees and used PPP funds to do so.
  Only 2% of small businesses who received PPP loans expected less than half their loan expenses to be forgiven, according to one survey.
  Similarly, Missouri-based staffing firm SyllogisTeks was reported as having retained zero jobs despite receiving a loan larger than $5 million through the Paycheck Protection Program
• High Level Abstractions:
• (employees,ppp)

Target rule match count: 21.0 Challenge: 0.34 Momentum: 0.00 WIP: 0.16