U.S. lenders, businesses brace for disclosure on small business pandemic aid

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By Pete Schroeder

WASHINGTON (Reuters) – Americans will soon get a first full look at which businesses received $515 billion of taxpayer funds when the government, after initial resistance by President Donald Trump’s administration, releases borrower data for one of its highest- profile pandemic aid efforts.

The colossal data set for the Paycheck Protection Program, to be released by the Treasury Department and Small Business Administration in the coming days, will provide transparency for a first-come-first-served program that from the outset was plagued by technology, paperwork and fairness issues.

That could make life uncomfortable for borrowers that broke the spirit or letter of the rules, and for banks that shoveled the money out the door. The aim of the $660 billion program was to help cash-strapped companies keep workers employed and make rent.

“There’s a level of anxiety,” said Suzie Saxman, a partner at Chicago-based law firm Seyfarth Shaw. “I’ve

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IPO Summit Webinar with Sidley, Nasdaq, MorganFranklin, ICR

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IPO Edge hosted virtual IPO Summit to discuss a number of timely topics ranging from corporate governance to the upcoming election season that issuers may need to consider. A replay of the approximately 90-minute event will be can be accessed here.

The webcast, hosted in partnership with Sidley Austin LLPMorganFranklin ConsultingNasdaqICR, and The Palm Beach Hedge Fund Association, included two panel discussions, followed by a live Q&A session.

The panels covered the following topics:

  • Internal planning and readiness considerations
  • General and industry-specific considerations for companies planning to go public in 2020
  • Corporate governance/ESG considerations such as board composition and diversity
  • Traditional IPOs vs SPACs
  • The impact of volatility on investor appetite
  • Considerations for going public during election season

Panel participants included leading experts in IPO planning and execution, including:

  • Jeffrey Smith, Partner in Sidley Austin LLP’s M&A and Private Equity
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Digital Shines, but a Tough End to 2020

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On Thursday, Nike Inc. (NYSE:NKE) reported results for the fourth quarter of fiscal 2020.

Revenue for the quarter declined by nearly 40%, which reflects the impact of retail closures around the world throughout much of the quarter. Revenue declined in all regions in the quarter, with Greater China showing minimal year-over-year growth (up 1%) on a constant currency basis.

The difficult results reflect the impact of Covid-19, which hurt Nike’s results in the third and fourth quarter. That led to a split for the year, with first-half revenues climbing by 9%, offset by a 17% decline in the back half of the year. The net result was a 4% decline in revenues in fiscal 2020 to $37.4 billion – the largest annual revenue decline that Nike has reported in more than a quarter century (sales fell by 4% in fiscal 1994).

Despite the headwinds experienced in Greater China, most notably

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How to Start a Business in Indiana

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Thinking of starting a business in Indiana? The Hoosier State’s low costs for doing business and low costs of living combine with a business-friendly regulatory environment and well-built infrastructure to attract people planning to start businesses. On the other hand, according to one survey of American states, Indiana’s quality of life is below average. Here’s what you should know, including business licenses and insurance requirements.

How Indiana Ranks

Several organizations have ranked Indiana above average when it comes to having a business-friendly environment. The Tax Foundation had the state as the 10th best in its 2019 State Business Tax Climate Index. The Small Business & Entrepreneurship Council ranked Indiana as the sixth most entrepreneur-friendly state under its Small Business Policy Index 2019. A somewhat less sanguine view came from the World Population Review, which in its Quality of Life by State 2020 report put Indiana’s quality of life

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