The floodgates opened on April 3, just before 9 a.m. on the East Coast, as applications for Bank of America’s small business loans started pouring into its new online portal.
Their story provides fresh insight into how almost $350 billion of government money was divvied up by banks as part of the Paycheck Protection Program (PPP) in a process that’s drawn a bunch of scrutiny. Specifically:
Hayley Peterson reported this week that Amazon-owned Whole Foods is keeping an eye on stores at risk of unionizing through an interactive heat map. From her story:
The heat map is powered by an elaborate scoring system, which assigns a rating to each of Whole Foods’ 510 stores based on the likelihood that their employees might form or join a union.
The stores’ individual risk scores are calculated from more than two dozen metrics, including employee “loyalty,” turnover, and racial diversity; “tipline” calls to human resources; proximity to a union office; and violations recorded by the Occupational Safety and Health Administration.
A Neiman Marcus bankruptcy could mark a major blow to NYC’s glitzy Hudson Yards, one of the most expensive mega-malls in US history. Dan Geiger explained why.
Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub Reuters
What’s next for oil?
The oil industry had a week.
As Benji Jones reported, near-term contracts for US crude oil traded negative on Monday for the first time, settling at about minus $38 a barrel. If you’re wondering how that’s even possible, I’d recommend a couple of stories from Benji:
