|
|
Post by liane on Apr 21, 2020 9:47:43 GMT -5
Don't know if there will be backlash, but MNKD is on this list:
|
|
|
|
Post by mnkdfann on Apr 21, 2020 10:16:22 GMT -5
Not just on the list, but near the very top!
|
|
|
|
Post by longliner on Apr 21, 2020 10:17:48 GMT -5
We can't afford to be on any list.
|
|
|
|
Post by goyocafe on Apr 21, 2020 10:21:40 GMT -5
Don't know if there will be backlash, but MNKD is on this list:
But...but |
|
|
|
Post by theshiv on Apr 21, 2020 10:24:48 GMT -5
My wife and I own two smaller sized businesses, one of which is struggling a bit. We applied for the forgivable loan, but told there is no more money for now.
The bank says we could get funded following the next congressional appropriation. Looks like the well connected got funded first. As a MNKD shareholder, let's just say I'm not thrilled or surprised the "big-boys" got funded early.
This just adds to my MNKD fatigue.
|
|
|
|
Post by goyocafe on Apr 21, 2020 10:32:33 GMT -5
My wife and I own two smaller sized businesses, one of which is struggling a bit. We applied for the forgivable loan, but told there is no more money for now. The bank says we could get funded following the next congressional appropriation. Looks like the well connected got funded first. As a MNKD shareholder, let's just say I'm not thrilled or surprised the "big-boys" got funded early. This just adds to my MNKD fatigue. My brother owns a small company with 12 employees. He hasn't laid anyone off and is using cash reserves to keep everyone on the payroll. The business is shut down. They take turns going in one day each (one at a time) to deal with mail, etc. He lined up the day they announced the availability of the funds. He realized he needed to be in touch with his bank a week earlier to have had any chance at the first round of money. |
|
|
|
Post by awesomo on Apr 21, 2020 10:39:11 GMT -5
My wife and I own two smaller sized businesses, one of which is struggling a bit. We applied for the forgivable loan, but told there is no more money for now. The bank says we could get funded following the next congressional appropriation. Looks like the well connected got funded first. As a MNKD shareholder, let's just say I'm not thrilled or surprised the "big-boys" got funded early. This just adds to my MNKD fatigue. My brother owns a small company with 12 employees. He hasn't laid anyone off and is using cash reserves to keep everyone on the payroll. The business is shut down. They take turns going in one day each (one at a time) to deal with mail, etc. He lined up the day they announced the availability of the funds. He realized he needed to be in touch with his bank a week earlier to have had any chance at the first round of money. I don’t know if being a week early would have mattered. Banks are giving out loans to those that they have lucrative relationships with. So once again, if you don’t “know somebody”, you’re SOL. |
|
|
|
Post by castlerockchris on Apr 21, 2020 10:41:48 GMT -5
If MNKD was a household name with a really strong brand, you might see some backlash. But it isn't. I do not expect any backlash at all. What are people going to do? Protest against a company that is serving a part of the population suffering from a serious disease? Are people who use Afrezza going to stop because of this? I doubt it. If anything, people reading CNBC are business people and investors, and they may look into the company and develop an interest, but I doubt that too as we are all very preoccupied and most are too lazy. People protest things that are easy and require little homework on their part, things that can be generalized.
On the other hand, I do think there eventually will be a backlash about the way the program was handled (banks will be brought in to testify in front of Congress, etc.) and some large companies (i.e. Shake Shake taking then returning $$, etc.) may receive some guff, but MNKD will get lost in the whole process. I expect if COVID 19 activity dies down around August you will see congressional hearings in late September or early October. You will also see hearings when the loan forgiveness kicks in.
Plus someone will shoot holes in his thesis that a company with less than 500 million in market cap is considered a large company.
|
|
|
|
Post by theshiv on Apr 21, 2020 10:43:11 GMT -5
Agreed. Our bookkeeper stated the process would be fair to smaller businesses. Not true and we called it.
|
|
|
|
Post by liane on Apr 21, 2020 10:44:22 GMT -5
In all fairness, MNKD was just following the rules. Congress should have been more restrictive if they wanted to benefit mom & pops.
|
|
|
|
Post by matt on Apr 21, 2020 10:45:00 GMT -5
Just because you have a large market cap does not mean that you have ready access to public money. MNKD, for example, does not have many authorized shares remaining and the balance sheet is already heavily leveraged. The purpose of the PPP loans is to keep people employed and off unemployment, plain and simple.
If a public company employs a lot of people that would otherwise be laid off absent a PPP loan, then I don't think there is an issue with a company getting funded just because they are public. There are plenty of "private" companies owned by the large private equity managers than are getting plenty of cash below the radar, and I would argue that is not right. If a company has alternative forms of financing readily available or would not be laying off employees even in the absence of PPP funding, they should not be taking public money.
|
|
|
|
Post by longliner on Apr 21, 2020 10:47:56 GMT -5
|
|
|
|
Post by awesomo on Apr 21, 2020 10:49:37 GMT -5
In all fairness, MNKD was just following the rules. Congress should have been more restrictive if they wanted to benefit mom & pops. They should have been, but really it is all an illusion that government is helping the true small business owners. We knew who these bailouts would benefit, and it certainly isn’t mom and pop businesses. |
|
|
|
Post by rfogel on Apr 21, 2020 11:14:03 GMT -5
I'm beginning to think they should rename the company "MannBtfsplk."
|
|
|
|
Post by mnkdfann on Apr 21, 2020 11:38:43 GMT -5
I'm beginning to think they should rename the company "MannBtfsplk." Is that an allusion to Mister Mxyzptlk? Insomuch as Mannkind torments its investors in the same way Mxyzptlk does Superman? |
|
