This Company Got a $10 Million PPP Loan, Then Closed Its Plant and Moved Manufacturing Jobs to Mexico Details
BUSINESS OR FUNNY BUSINESS-Late last summer, after churning along through the pandemic with only a two-week pause, managers at FreightCar America called hundreds of workers into the break area at the company’s factory near Muscle Shoals, Alabama, to tell them that the plant was closing for good.
For some employees, the news wasn’t a shock: They’d been hearing rumors that management would move the work elsewhere for years. The timing, however, seemed odd. Only a few months earlier, the publicly traded company had received a $10 million Paycheck Protection Program Loan the maximum amount available under a pandemic relief program designed to keep workers employed. Some had believed the funds would keep the doors open for a little while longer.
FreightCar America received $10M PPP loan before closing plant last September
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This Company Got a $10 Million PPP Loan, Then Closed Its Plant and Moved Manufacturing Jobs to Mexico
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CalAmp Reports First Quarter Fiscal Year 2022 Financial Results
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Telkonet Reports First Quarter 2021 Financial Results
ACCESSWIRE
Teleconference and Webcast to be Held Today at 4:30 P.M. EST
WAUKESHA, WI / ACCESSWIRE / May 17, 2021 / Telkonet, Inc. (OTCQB:TKOI), (the Company , Telkonet ), a leader of intelligent automation solutions designed to optimize comfort, operational analytics, and energy efficiency for commercial markets, announces financial results for the quarter ended March 31, 2021. Management will host a teleconference at 4:30pm ET today to discuss these results with the financial community. While we continue to endure the ongoing impact of the COVID-19 pandemic upon our operations, during the quarter we did experience an increase in quoting requests, especially in the hospitality market stated Jason Tienor, Telkonet s Chief Executive Officer. Our efforts continue to be focused on navigating through the effects of the pandemic in order to position the company for long-term growth, continued Tienor.