Bankers Say Institutions Are Committed to Helping Communities Through the Crisis
Steve Lowell called it a “fireside chat.” That’s how he chose to describe his efforts to reach out to customers during this time of crisis and communicate a number of key points. “With my wife holding my phone in front of me and me speaking onto the camera … we put it on our YouTube…
Coronavirus relief act brings $4.8 million to Western Massachusetts, says US Rep. Richard Neal
Five cities in the 1st Congressional District represented by U.S. Rep. Richard E. Neal are getting $4.8 million under the Coronavirus Aid, Relief, and Economic Security (CARES) Act passed last week in Washington. Neal, D-Springfield, announced the local grants and recipients. The program is rolling out nationwide under the $2.2 trillion federal economic stimulus plan.…
MGM executives take pay cuts, buy stock to build confidence
MGM Resorts International acting CEO and president William Hornbuckle took a $300,000 pay cut this week and agreed to take his new $1.1 million salary in stock, not cash. Two other MGM executives also took pay cuts and Hornbuckle and other insiders bought stock in MGM Resorts International, the parent company of MGM Springfield, according…
MassMutual brings FutureSmart financial education course online for distance learners
The MassMutual Foundation has made its FutureSmart financial education program accessible online to middle schoolers across the country. The foundation, the charitable arm of the Springfield-based insurance giant, said Wednesday that the program can be helpful keeping kids learning while schools are shut down during the coronavirus pandemic. Read the source article at masslive.com
Holyoke developer buys St. John Cantius in Northampton for nearly $3M; 23 townhouses planned
The Roman Catholic Diocese of Springfield has sold the former St. John Cantius parish properties at 10 Hawley St. and nearby Phillips Place for $1.6 million. The buyer is O’Connell Development Group of Holyoke. The sale, recorded March 17 at the Hampshire County Registry of Deeds, clears the way for a 23-townhouse development at the…
United Way of Pioneer Valley Donates 5,000 Meals to Food Bank of Western Massachusetts
The United Way of Pioneer Valley has donated 5,000 frozen meals to the Food Bank of Western Massachusetts. The transfer took place at Springfield City Hall earlier this week, with Mayor Domenic Sarno and United Way President and CEO Paul Mina in attendance. Read the source article at BusinessWest
SBA Issues Guidance on Paycheck Protection Program
With record-breaking speed, the U.S. Small Business Administration (SBA) has begun providing guidance on how the recently created Paycheck Protection Program (PPP) will work in practice, attorneys at Bulkley Richardson note. The PPP is one of the new programs created by the CARES Act, the more than $2 trillion emergency relief package fast-tracked through Congress…
CARES Act Aims to Support Economy During Viral Pandemic – BusinessWest
The act passed in the Senate by a unanimous vote late on March 25 and was passed in the House of Representatives on March 27. The President signed the bill into law later that day. The CARES Act looks to make a significant impact on the economy by providing loan forgiveness, supporting small businesses, enhancing…
To Jeff Daley, Healthy Development Means Healthy Communities – BusinessWest
Jeff Daley boasted a long career in development, with experience on the municipal, state, and private realms, when an intriguing opportunity came about last year: the role of CEO at Westmass Area Development Corp., which oversees a number of newsworthy projects in the region, most notably Ludlow Mills. He couldn’t pass up the opportunity to…
SBA’s EIDL Grant for Businesses Impacted
We know you are facing challenging times in this current health crisis. The U.S. Small Business Administration is committed to help bring relief to small businesses and nonprofit organizations suffering because of the Coronavirus (COVID-19) pandemic. On March 27, 2020, President Trump signed into law the CARES Act, which provided additional assistance for small business…
Coronavirus stimulus needs to get to businesses soon, US Rep. Richard Neal says at telephone town hall
The $2.2 trillion federal stimulus and stability package partially authored by U.S. Rep. Richard E. Neal includes more than $375 billion in small business relief. That includes $349 billion for forgivable loans to small businesses to pay their employees and keep them on the payroll; $17 billion for debt relief for current and new SBA…
Call For More Emergency COVID-19 Supplies
We’re calling on every life sciences and healthcare organization to consider how they may be able to help, specifically in donating lab, testing, and diagnostics supplies, personal protection equipment (PPE), and medical and scientific expertise needed to combat COVID-19. Already more than 400 companies have generously offered to donate supplies to Massachusetts’ healthcare institutions so…