A Path Forward-The Back Cover: July 30, 2020
I have often heard people say that the longest journey begins with the first step. Another bit of wisdom is that life is a marathon and not a sprint. During our pandemic times I often wonder why we are all so tired and out of energy if life is truly a marathon?
Today’s edition will explore some challenges and some of the paths forward. I say paths because not all of us will move ahead in the same way or at the same pace.
Four months ago, employees at many U.S. companies went home and did something incredible: They got their work done, seemingly without missing a beat. Executives were amazed at how well their workers performed remotely, even while juggling child care and the distractions of home. Twitter Inc. TWTR +1.42% and Facebook Inc., among others, quickly said they would embrace remote work long term. Some companies even vowed to give up their physical office spaces entirely.
Now, as the work-from-home experiment stretches on, some cracks are starting to emerge. Projects take longer. Training is tougher. Hiring and integrating new employees, more complicated. Some employers say their workers appear less connected and bosses fear that younger professionals aren’t developing at the same rate as they would in offices, sitting next to colleagues and absorbing how they do their jobs.
Monday, Senators Marco Rubio and Susan Collins released a 92 page proposed Bill for an Act that will be called the Continuing Small Business Recovery and Paycheck Protection Program Act.
The Act is intended to correct some problems and a number of challenges that PPP borrowers have had, while opening new opportunities for many borrowers who were not treated as well as others under this Program. There is something in this new Act for almost everyone, and below we summarize the primary provisions.
This is not law yet, but based on past experience there is a very high probability that this will be passed with bi-partisan support.