Treasury Secretary Steven Mnuchin's threats may have worked, at least in part.
The Associated Press reports 42 public companies as of Wednesday have agreed to return the $337 million they received as part of the federal government's small business loan strategy known as the Payroll Protection Program. The PPP was set up to help small businesses pay their employees, but larger companies like Shake Shack and the Los Angeles Lakers drew criticism when they were also revealed as recipients (both have returned the money).
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
The mental health crisis affecting vetsUnder The Radar Death of Hampshire vet highlights mental health issues plaguing the industry
-
The Onion is having a very ironic laugh with InfowarsThe Explainer The satirical newspaper is purchasing the controversial website out of bankruptcy
-
'Rahmbo, back from Japan, will be looking for a job? Really?'Instant Opinion Opinion, comment and editorials of the day
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
