Wednesday, July 26, 2006

Corporate Giants (Microsoft, AT&T, Northrop Grumman) Get $Billion$ in Federal Small-Business Loans

Democratic congressional investigators are asking "Why?"; Republicans on the small-business committee call the investigation a "purely political exercise":
Some of the biggest and richest companies in the world, including Microsoft, AT&T Corp. and Rolls Royce, have qualified for what could add up to as much as $12 billion worth of small-business contracts from the federal government.

Democratic congressional investigators are asking why in a report they're releasing today.

The legislators allege a myriad corporate giants were wrongly awarded millions.
Meral contract, which she says went to a larger business.

"I would tell a small business that wants to stay in business to stay away from the federal government and its programs," Hughes said.

Republicans' arrogance is breathtaking.

Small businesses criticize snail’s pace of SBA loans
Lee Fernandez, owner of Bio-Chem Medical Services Inc. in Metairie, said he waited 10 months to receive a loan from the Small Business Administration. He worries the long wait will hurt other small businesses in his position.

Lee Fernandez has given up.

Like more than 80 percent of Louisiana business owners whose shops were damaged by hurricanes Katrina or Rita, Fernandez applied for an emergency loan from the Small Business Administration, was approved and never saw a dime.

Meet the U.S. Senate's Committee on Small Business and Entrepreneurship:

Olympia J. Snowe, Maine, Chair

Christopher S. Bond, Missouri

Conrad Burns, Montana

George Allen, Virginia

Norm Coleman, Minnesota

John Thune, South Dakota

Johnny Isakson, Georgia

David Vitter, Louisiana

Michael Enzi, Wyoming

John Cornyn, Texas


John F. Kerry, Massachusetts, Ranking Member

Carl Levin, Michigan

Tom Harkin, Iowa

Joseph I. Lieberman, Connecticut

Mary Landrieu, Louisiana

Maria Cantwell, Washington

Evan Bayh, Indiana

Mark Pryor, Arkansas

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