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AutoNation, a Fortune 500 auto
retailer worth $3billion, received
nearly $95million in PPP funds by
using separate tax IDs to apply
for loans at dozens of dealerships

Original Article

Posted By: Ribicon, 4/24/2020 9:22:16 PM

A Fortune 500 auto company worth $3billion received nearly $95million in federal small-business funds, almost double the amount of any company that received money through the Paycheck Protection Program. The $95million received by AutoNation is said to have been spread among dozens of their more than 300 locations and intended to use the funds to help employees. Funds for PPP ran out last week, with thousands of small businesses left without a dime. AutoNation Executive Vice President Marc Cannon said that the company's board voted on Thursday to return the funds, the Washington Post reports.(Snip) More than 81 locations received loan money,

Comments:

Small businesses get larger by the day. And the patriotic spirit of the well-heeled big/small companies is something to behold in these trying times, shoving aside the small/small companies that have few other options to stay afloat short of the owners remortgaging their homes etc.

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Reply 1 - Posted by: GreatGreyhounds 4/24/2020 9:36:50 PM (No. 390620)
This is flat wrong...
15 people like this.

Reply 2 - Posted by: Northcross 4/24/2020 9:58:14 PM (No. 390627)
If the government creates a huge pot of money out of thin air, grifters will be attracted like moths to the porch light. Same with welfare. Stop the handouts unless you can manage them equitably.
13 people like this.

Reply 3 - Posted by: Jebediah 4/24/2020 10:04:44 PM (No. 390635)
Just disgusting......NEVER will have anything to do with them ever again. I guess they were shamed into returning the $, but the fact that they jumped through hoops to qualify to begin with is disgusting......
13 people like this.

Reply 4 - Posted by: JediJerry 4/24/2020 10:29:03 PM (No. 390649)
Let’s see who funnels the money back as campaign contributions to democrats.
7 people like this.

Reply 5 - Posted by: Jesuslover54 4/24/2020 10:30:36 PM (No. 390651)
Beats a spiral fracture of the humerus applied by the Feds.
2 people like this.

Reply 6 - Posted by: watashiyo 4/24/2020 10:30:36 PM (No. 390652)
Surprised? .....I'm not. Politicians, both Democrats and the Republicans do it, so why not them? Taxpayers are always screwed royally ever since the concept of GOVERNMENT started.
9 people like this.

Reply 7 - Posted by: curious1 4/24/2020 10:44:55 PM (No. 390662)
The politicians and bureaucrats (dimocrats for the most part) never thought to put a cap on the size of the company applying for that pot of money? No wonder they ran out so fast.
6 people like this.

Reply 8 - Posted by: thewarden 4/24/2020 10:46:25 PM (No. 390664)
And yet, my husband and I got a whopping $600 because the idiots at the IRS used our 2018 tax return instead of our 2019 return, which had been electronically filed and accepted early. Never mind our current income has been cut 30% (and AGI was 1/3 less than in 2018 than in 2019). Yet prisoners and illegals are getting more than we are. Yeh, super. I give up. I despair and no one cares at all. There is no hope, no happy ending but total betrayal by Trump. WTH?
7 people like this.

Reply 9 - Posted by: Mushroom 4/24/2020 11:01:20 PM (No. 390669)
I can only assume this level of honesty translates into how they sell cars. No thank you.
3 people like this.

Reply 10 - Posted by: Omen55 4/24/2020 11:04:21 PM (No. 390672)
Obviously we'll need a full audit on everyone that applied.
4 people like this.

Reply 11 - Posted by: janjan 4/24/2020 11:10:30 PM (No. 390678)
Sure. Let’s find a way to rob the taxpayers then screw the small businesses. I don’t have words. Extremely disgusting, grasping, corrupt company. They should be put out of business.
2 people like this.

Reply 12 - Posted by: earlybird 4/24/2020 11:14:26 PM (No. 390681)
What #1 said. Absolutely WRONG. I read today that fabulously wealthy and exclusive Fisher Island (FL) managed to get a small business relief loan for its homeowner association. Outrageous.
6 people like this.

Reply 13 - Posted by: Sandpiper 4/24/2020 11:44:31 PM (No. 390693)
These bigger companies can afford high priced attorneys and accountants to quickly jump through bureaucratic hoops to get the loans. Not fair! A relative’s small town law firm was able to snag a loan because ... they’re attorneys. They are good at what they do. But they employ maybe 20 people? Their loan made payroll for the next two months. In the meantime, another relative’s small 3 person real estate firm is still waiting a reply. If they have to go another month it will fold.
3 people like this.

Reply 14 - Posted by: JL80863 4/24/2020 11:49:52 PM (No. 390698)
I think that today's posters have it right. Either return the money and apologize or face a boycott like you have never seen before. AutoNation, unprincipled slime.
7 people like this.

Reply 15 - Posted by: judy 4/25/2020 12:19:41 AM (No. 390707)
Well we’re finding out where Not to shop...Ruth Chris, Shake shack, now Auto Nation...next.....I suggest the names & amount of loans of the companies be made public. Let’s us see! So the board voted to return the $$$...hmmm I think it’s more like they got caught. The $$$ suddenly started to be returned when names were made public.
7 people like this.

Reply 16 - Posted by: ZeldaFitzg 4/25/2020 12:48:31 AM (No. 390716)
The headline should have included that the company will be returning the money by vote of its board this week. As it was, unnecessary click-bait for me.
2 people like this.

Reply 17 - Posted by: ColonialAmerican1623 4/25/2020 12:53:10 AM (No. 390719)
Are they on Nancy's most favorite list or the big bank's ? I would be lucky to get the $1200.
1 person likes this.

Reply 18 - Posted by: seamusm 4/25/2020 1:10:12 AM (No. 390729)
The guilt is not that of AutoNation but rather our idiot congressman who cannot write a bill. Long ago the Supreme Court ruled it is not illegal to try to minimize one's taxes - this is every bit the same.
4 people like this.

Reply 19 - Posted by: DVC 4/25/2020 1:27:28 AM (No. 390744)
They need to go back and get this money back from them. They can sell stock if they need to raise money.
1 person likes this.

Reply 20 - Posted by: Trigger2 4/25/2020 1:52:41 AM (No. 390760)
I'm curious...why suddenly are names of companies ripping off taxpayers suddenly emerging when under Barry's trillion dollar giveaway to demonrats under their pretend infrastructure bill never were except for glaring ones? Don't get me wrong, I'm glad names are named, but why the difference?
3 people like this.

Reply 21 - Posted by: JediJerry 4/25/2020 1:56:10 AM (No. 390762)
They used the money to repossess cars that owners had defaulted on making loan payments.
1 person likes this.

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