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To save small businesses I like that construction company that you just talked about and that's a fair point about the herculean nature of this and he has been talking to small business owners dozens of them have told us about particular problems applying for loans some of them say they're still waiting to hear back from their banks some of them have said the website crashes and several them miss several them has said the banks have played restrictions are placed restrictions that they just can't meet what's behind the problems it is it just the scale of the effort or is there something that can be done to fix this it's it's a little bit it's largely the scale of the effort and the unprecedented surge that came and immediately as the program open so you know I understand this is a small business in the first thing they do is they fill out an application they get their paperwork together they go to their bank their bank has to go through us to process that paperwork then that bank has to turn around and it has to submit a form that goes to the small business administration so the long can get assigned a number so we can get counted in this three hundred and fifty billion dollar fund and then all that has to go back to the bank and then the banking kind of originate the loan so we we tend to focus on the first step in the process there's a lot of stuff that goes on after that each step has to be completed but for that small business can get the money in their in their account is it is an optimistic take it is so interesting you know we hear three hundred and fifty billion dollars it's a lot of money but for a small business you need just a tiny percentage of that it can be life and death let me ask you out to that and you know at first there were three hundred and fifty billion dollars to support small businesses a few days after this lunch the president said he would like to add another two hundred and fifty billion to it what does that say to you about the depth of the trouble facing this country small businesses well it's it's tremendous so at the US chamber we just did a survey at the last few days of March with our partners at MetLife and what we learned was one in four businesses were already shuttered down another forty percent of those who weren't expected to be shut down within two weeks that's over half of Americans small businesses who had to shut their operations in addition they told us that one in four can only make it less than two months before they have to Herman at least close and so you know it is a day to day cash basis that's why the support is important we know that businesses are right on the brink in this money can't come fast enough and that's why we're doing everything we can to chamber to both help small businesses get their applications in order and we have guides that have been downloaded millions of times on our website to help them do that and then help the banks get the resources they need to process that everything's got to work seamlessly I don't know anyone that thinks it has worked perfectly but we have to keep redoubling our efforts you millions of people as you just said have a file for unemployment in the past few weeks how does the stimulus package help some of them get back to work also for those who are adults who work for small businesses those with generally fewer than five hundred employees this loan program that we're talking about directly encourages small businesses to keep their employees and bring back those who've they've laid off or furloughed that's how they qualify for the loan forgiveness small businesses can never loan forgiven to the extent that they're using the loan proceeds to keep paying their workers in addition we expect some programs to come online today or tomorrow from the treasury and the federal reserve to help larger businesses and so on the goal of helping the users to help U. S. chambers to help these folks leave it there thanks so much thank you there's been a lot of build up to a meeting today will of virtual meeting of OPEC and Russia as they face an oil glut and very low prices for their crew president trump is going to watch this closely he's trying to push them especially Saudi Arabia to cut production he says the low prices are threatening the US oil industry your interest check in with them when crude oil prices began spiraling downwards a month ago president trump was overjoyed low prices at the gas pump may drivers across the U. S. happy but that was before the corona virus forced virtually everything to shut down this is a ham comel with the racial group I think that initially lower oil prices were received to be good until it became clear to him that lower prices you mean a lot of job losses and in many states some of the states are critical in his reelection campaign specially Texas thousands of jobs in the US shale oil industry are at risk of rock bottom prices continue president trump has long made it clear he is no fan of OPEC something he repeated yesterday for many years I used to say go back was very unfair I hated all back you will know the truth I hated it because it was a fix now trump needs the cartel to come to an agreement to limit production which in turn will raise oil prices and that means trying to patch up the dispute between Saudi Arabia and non OPEC member Russia that led to the slide in prices Daniel your gun is an oil expert at IHS Markit the United States to step into the role and particularly president trump not it is so much as a deal maker but as a divorce mediator between Saudi Arabia and Russia you can says there's a lot of posturing and messaging going on from all sides ahead of today's meeting he says despite this he believes all countries are going to want to reach an agreement all the oil exporters are staring at the same harsh reality what's a bad situation we'll get really much worse as we go into the end of April beginning of may because the world will run out of storage for oil and the prices were really plummet so there is an incentive to make a deal the OPEC meeting will be followed Friday by a meeting of the G. twenty oil ministers which will bring Russia the Saudis in the US to the same table Jackie Northam NPR news Washington this is NPR news and this is Casey R. W. and from the KCRW newsroom initially the LA Philharmonic said it was cancelling concerts through early may now the orchestra says it's shutting down for the remainder of the twenty twenty season KCRW's not Gillam reports that while the LA Phil is bowing out the fate of another institution the Hollywood Bowl remains unknown the LA Phil will be playing the works of Beethoven Brahms or the other great composers of Walt Disney concert hall anytime soon along with canceling the season the symphony says it's laying people off and cutting some employees pay as it tries to navigate the hardships of the coronavirus Gustavo Dudamel the celebrated music and artistic director of LA Phil is going to forgo pay for the duration of the shutdown the LA times reports almost a hundred part time work stream please we'll see a pay cut of thirty five percent those on the leadership team will see even greater reductions the LA Phil's decision to cancel its season comes about two weeks after the New York Philharmonic decided to throw in the towel but what about picnics and concerts this summer at the Hollywood Bowl the LA Phil which manages the ball says it's not quite sure what the plan is yet they're hoping to have a full or at least partial season but organizer say they're being flooded with cancellations from artists for KCRW I met Gillam you probably have a lot of questions right now like what's the latest with the facts concerning covert nineteen for the buses and trains running as usual in LA what happens to homeless people how can I help small businesses succeed here take this week here in the case here to be a newsroom are farther apart but we are working as hard as ever if there's something we should know or something you want to know tell us on social media at Casey R. W. we are all in this together be well we're gonna get through this and stay tuned to KCRW and coming up later this hour that marketplace morning report we are likely in for yet another gut wrenching report on layoffs and joblessness this morning the labor department's numbers tracking first time claims for unemployment benefits have been soaring for weeks sitting Graham records today's report will likely show another astronomical figure but the actual number of Americans out of work is likely even higher more coming up fifty four degrees now in downtown LA we're expecting highs in the fifties again today with rain hours continuing tonight.

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