EXTENSION OF PAYCHECK PROTECTION PROGRAM AND ADDITIONAL CAPITAL TO SMALL BUSINESSES
President Trump signed extension legislation that reopened the Paycheck Protection Program (PPP), which has resumed accepting applications for loans until August 8, 2020. Of the almost $670 billion appropriated for the program, there remained more than $130 billion available to applicants as of the June 30, 2020 deadline. As a reminder, the program is designed to provide a direct incentive for small businesses to keep their workforce employed during the COVID-19 crisis by providing funding to keep workers on payroll while also helping businesses with interest on mortgages, rent, and utilities. The Small Business Administration will forgive loans and treat them as grants if the funds are used for eligible expenses and employee retention requirements are met. Read more »
This fall, colleges around the country are bracing themselves for an unprecedented crisis of declining enrollment. A report from FitchRatings suggests that annual enrollment could drop by 5 to 20 percent in the fall of 2020 due to coronavirus.1 With tuition and fees accounting for 82% of revenue for private colleges,2 and declines likely in athletic revenues and donor proceeds, universities may be faced with severe budget shortfalls in 2020. As families struggle with unemployment and the economic downturn and with many schools switching to online learning, tuition increases are not likely to be a successful measure in making up the shortfall. This may be a watershed moment for the business of college and education, between stretched budgets and rising costs; and it’s likely going to cause some difficult decisions. What can colleges do to cover the gaps until a recovery is possible? Read more »
Arnerich Massena’s second quarter 2020 MarketCast is available for viewing. In this MarketCast, senior investment advisor Melody Behnke, MBA, CFP®, provides an overview of market activity over the last quarter. Co-CEO and co-CIO Bryan P. Shipley, CFA, CAIA, looks at the current market environment and the potential opportunities we see, and Melody discusses what that means for client portfolios. Read more »
“The challenges facing us as a society, as investors, and as a civilization, have never been greater. We knew six months ago that we were in an unprecedented era of environmental issues and social inequality. Now, the Covid-19 pandemic has multiplied those challenges exponentially and this year has highlighted in stark reality why it’s so critical that we begin managing and mitigating them immediately.” The opening line of Arnerich Massena’s article that appears in this week’s issue of The Portland Business Journal sounds bleak, but the piece, “Help create a better future with intentional investing strategies,” penned by co-CEO and co-chief investment officer Bryan Shipley, CFA, CAIA, offers bold solutions in the form of a new investment paradigm: intentional investing. Read more »
COVID-19 has torn through our world over the past months, disrupting lives, putting the health of our family and friends at risk, and destabilizing the local community which we hold so dear. We are all coping in the best way we know how, and daily stories of resilience and ingenuity inspire us to keep pushing onward. In this series of blog posts, I am highlighting some amazing stories of resiliency and dedication in Portland’s non-profit sector — stories of organizations and community members who are fighting to serve our most affected populations.
This post highlights the work of Native Arts and Cultures Foundation (NACF), an organization that works to advance Native equity and cultural knowledge, focusing on the power of arts and collaboration to strengthen Native communities and promote positive social change for American Indian, Native Hawaiian, and Alaska Native peoples in the United States. Read more »