2020
April
21
Tuesday

Monitor Daily Podcast

April 21, 2020
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Our five selected stories today cover building trust with a coronavirus tracer army, a responsible path back to work in Seattle, self-expression for women in Somaliland, nature-based climate solutions, and our global points of progress

What was Shake Shack thinking?

It was among at least 75 publicly traded companies – i.e. big companies – that received up to $10 million loans from the Paycheck Protection Program (PPP). The intent of the $349 billion program was to help keep small businesses afloat. 

But there was a loophole: A company was eligible if it employed fewer than 500 employees at any one location. The average Shake Shack outlet employs 45. Shake Shack, with nearly 8,000 total employees, got a $10 million federal loan. 

Some other large restaurant and hotel chains, energy companies, and auto dealers found the same loophole. 

In 13 days, the PPP was drained, leaving nothing for thousands of mom-and-pop businesses that also applied. And there may be another injustice. Banks, which administer the program, got larger fees on bigger loans. That’s why four actual small businesses in California, including a yogurt shop and optometrist, filed a lawsuit Monday against Wells Fargo, Bank of America, JPMorgan Chase, and U.S. Bancorp. They argue the banks prioritized bigger clients over them.

Congress is working on a bill to replenish the PPP funds. And Shake Shack? So far, it’s the only company that’s done the responsible thing. The company returned the $10 million, saying it had “access to capital that others do not.” 

I don’t know about you, but I like my burgers served with integrity.


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Today’s stories

And why we wrote them

Ann Scott Tyson/The Christian Science Monitor
Market regular Holly Ferguson buys cider and rhubarb from farmer Jason Devela of Rockridge Orchards and Cidery at the University District Farmers Market as it reopens on April 18 in Seattle. The market was closed for six weeks amid the COVID-19 crisis.

A deeper look

Ryan Lenora Brown/The Christian Science Monitor
Hamda Abdi Daahir (left) and Hannah Mukhtaar Abdilahi (right) approach the finish line of a 10K race in Hargeisa, Somaliland. They are vying for first place among women runners.

Climate realities

An occasional series
Ann Hermes/Staff
Shorebirds, waterbirds, and gulls all take advantage of the low tide in the Eden Landing Ecological Reserve on March 13, 2020, in Hayward, California. After many years as a salt production area, the reserve is being rehabilitated as a habitat for native plants and endangered species.

Points of Progress

What's going right
Staff
Places where the world saw progress, for the April 20, 2020 Monitor Weekly.

The Monitor's View

Reuters
Members of an Iraqi charity deliver free food to a woman during a curfew imposed to prevent the spread of the COVID-19 in Kirkuk, Iraq.

A Christian Science Perspective

About this feature

A message of love

Eranga Jayawardena/AP
Sri Lankan Catholics pray outside St. Anthony's church, one of the sites of the 2019 Easter Sunday attacks, on the first anniversary of the deadly bombings in Colombo, Sri Lanka, April 21, 2020. More than 260 people were killed when three churches, two Roman Catholic and one Protestant, came under simultaneous suicide bomb attacks during Easter celebrations on April 21, 2019. Three tourist hotels were also targeted, with some 42 foreign people killed.
( The illustrations in today’s Monitor Daily are by Karen Norris. )

A look ahead

Thanks for joining us. Come back tomorrow: Our film critic offers his list of the best movie musicals to get you through this shelter-at-home period.

More issues

2020
April
21
Tuesday
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