Shame on Ruth's Chris!
Wendy Rosen
Public Education Advocate. Former: Events, Publishing, & Marketing Consultant to non-profits and creative communities. CEM
The Small Business Administration has never, ever been an advocate for what you and I define as a small business. They serve businesses with as many as 500 employees and less than 1/2 of 1% of all SBA loans go to those businesses we love on Main Street. Today the Ruth's Chris Corporation (a public company with stockholders and 5,000 employees) was awarded a PPP "loan" from the SBA. These loans were designed to help businesses with fewer than 500 employees... not businesses with investors on the stock market. I can only assume that if they take the 20M, they’ll PAY FOR IT THE HARD WAY. The bad press and social media stink that will follow Ruth's Chris will never end. This is a company that relies on tens of thousands of SMALL business owners (who are your best customers). THEY really need those PPP funds. Congress and the former career attorneys that makeup 90% of our representative branch should rely on small business owners to help them craft legislation that serves the group these loans were intended for. They should have learned from the mistakes they made in funding after the '09 crash, but they didn't. There was no guidance on the "type" of business, a reasonable cap on funds. Ruth's Chris should make a public statement withdrawing from the PPP program. If they don't I'll never spend a nickel with them again. It's not too late to stop this! Make a big stink today! Call your member of congress. Please SHARE and write... [email protected]
PMP, AutoCAD, CorelDraw, SketchUp Designs Since 1994
4 年Just lake the major banks a few years back.
Entrepreneur | Corporate Communications | Employee Communications | Government Affairs | Corporate Social Responsibility | Branding | Board Advisor | Manufacturing | Technology | Start-ups | Non-profits
4 年There are some locations that are family owned businesses and not part of the corporate PPP funding. In fact, the Newington, CT location is just that and despite filling out its PPP paperwork, has not been approved (yet) for support. I found this out when I wrote to my local Ruth's Chris and received a prompt response from the the GM.
| Author | Visual Artist | Music Publisher |
4 年They have a huge line of credit with the bank that provided them with the relief loan... banks looking at supporting their bottom line off the blood of middle class taxpayers.
Seasoned professional in Engineering, Product Development, Manufacturing, Operations, software Development & Co-Founder for 3 Startups. Venture Capital, Patents, Boardroom Acumen.
4 年6100 employees and more than 100 locations with a diverse portfolio of divisions. Not a small business.
CEO/CFO @ DARAFEEV (Retired) | Custom Chairmaker #MAGAGA Make America Godly And Great Again!
4 年We filed within 5 minutes of the application being available, and 60,000 applications beat us to it, so our 50 employs continue going without.