FREE WHITEWATER

Daily Bread for 4.29.20

Good morning.

Wednesday in Whitewater will be rainy with a high of fifty.  Sunrise is 5:49 AM and sunset 7:54 PM, for 14h 04m 47s of daytime.  The moon is a waxing crescent with 35.4% of its visible disk illuminated.

Today is the one thousand two hundred sixty-eighth day.

The Whitewater Tech Park Board meets at 8 AM.

 On this day in 1945, the Dachau concentration camp is liberated by American troops.

Recommended for reading in full —

Robert Faturechi and Derek Willis report Sen. Richard Burr Is Not Just a Friend to the Health Care Industry. He’s Also a Stockholder:

In his 15 years in the Senate, Richard Burr, a North Carolina Republican, has been one of the health care industry’s staunchest friends.

Serving on the health care and finance committees, Burr advocated to end the tax on medical device makers, one of the industry’s most-detested aspects of the 2010 Affordable Care Act. He pushed the Food and Drug Administration to speed up its approval process. As one of the most prominent Republican health care policy thinkers, he has sponsored or co-sponsored dozens of health-related bills, including a proposal to replace “Obamacare.” He oversaw the implementation of major legislation to pump taxpayer money into private sector initiatives to address public health threats. “The industry feels very positive about Sen. Burr,” the president of North Carolina’s bioscience trade group said during Burr’s last reelection campaign. “He’s done a stellar job.”

Burr also trades in and out of the industry’s stocks.

Since 2013, Burr and his wife bought and sold between $639,500 and $1.1 million of stock in companies that make medical devices, equipment, supplies and drugs, according to a ProPublica analysis of his financial disclosures.

Jessica Silver-Greenberg, David Enrich, Jesse Drucker, and Stacy Cowley report Large, Troubled Companies Got Bailout Money in Small-Business Loan Program:

A company in Georgia paid $6.5 million to resolve a Justice Department investigation — and, two weeks later, received a $10 million federally backed loan to help it survive the coronavirus crisis.

Another company, AutoWeb, disclosed last week that it had paid its chief executive $1.7 million in 2019 — a week after it received $1.4 million from the same loan program.

And Intellinetics, a software company in Ohio, got $838,700 from the government program — and then agreed, the following week, to spend at least $300,000 to purchase a rival firm.

The vast economic rescue package that President Trump signed into law last month included $349 billion in low-interest loans for small businesses. The so-called Paycheck Protection Program was supposed to help prevent small companies — generally those with fewer than 500 employees in the United States — from capsizing as the economy sinks into what looks like a severe recession.

The loan program was meant for companies that could no longer finance themselves through traditional means, like raising money in the markets or borrowing from banks under existing credit lines. The law required that the federal money — which comes at a low 1 percent interest rate and in some cases doesn’t need to be paid back — be spent on things like payroll or rent.

 Astronaut Nicole Stott offers advice on social distancing

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