Quote:
Originally Posted by perezfan
I believe he is simply stating that Joe Orlando was paid over one million dollars ($1,040,307) as the CEO of Collectors Universe. And that their PPP Loan amount was $4,204,300.
That's how I am reading it, anyway.
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Most of that (probably over $3 million) will end up being a bailout grant that does not have to be paid back. Doubtful the funds were really needed - just a low interest cash grab loan IMO (anything left over after the first 8 weeks from receiving funds rolls into a 1% loan I believe) and Joe Orlando himself will likely get a free $100k from it. The PPP was supposed to be for small business that need the funds to keep people on payroll and help with some operational expenses. How's CU stock been throughout the pandemic?