Minneapolis Breakfast Club Newsletter April 1, 2020
Early Birds: Obviously the host, Jerry Olson, was the first to sign in. We ended up with 24 participants today. FYI an average meeting at the Edina Country Club draws about 30 participants.
Guests: None today
Honorary Members: Dick Lindskoog, Tom Donnelly and Cathy Daluge joined us this AM.
President Chuck Shreffler opened the meeting.
- Jim Erickson had been in the hospital for a pulmonary embolism and is now back at home and doing well.
- Dick Anderson is up and around the home as he recovers from knee replacement surgery.
- Karen Holtmeier has resigned from the club as an active member and moved
to the Honorary status.
Business Networking/Updates: Members shared how they were doing in the age of COVID-19. Jon Peterson is busy doing mortgages, with an emphasis on refinancing. Robert Sandberg is selling 100+ neck gaiters as an alternative to a mask for $15 each online. Randy Korn is working on remodeling projects and finding the permitting process difficult as there are no office hours at city offices. Bill Junco needs to sell more flowers, it is a great way to touch somebody. Robbie Danko is working from home and LVC is open for business. Tony Rubin is following markets closely
Business Exchange: Chuck Shreffler started us off and was followed by Julius Webster, Dick Anderson, Jim Christianson, and Randy Korn.
Chuck Shreffler had arranged for Jim Erickson, Matt Crane, and Neil Roers to cover COVID-19 stimulus plans.
Jim Erickson updated us on what was happening at the State Capitol. Obviously the $1.5B state surplus is being used to lessen the impact of the virus. In addition, the state government is working on a large bonding bill to stimulate an economic recovery as we emerge from our Shelter-in-place restrictions. Send Jim an email to sign up for regular briefings. email@example.com Jim also suggested that we sign up for newsletters at www.minnpost.com for timely information.
Matt Crane updated us on the delay timeframes for filing and paying 2019 income taxes at both federal and state to July 15, 2020. He also talked about the federal stimulus package and the “Paycheck Protection” business loans included. Neil Roers also chimed in on the Stimulus loans that are forgivable and require no personal guarantee or collateral. The loans can cover many payroll related expenses in addition to wages. Also discussed were SBA loans and Minnesota DEED loans.
Jerry Olson had compiled the following info:
We have assembled in one web page a variety of helpful links to various programs and new laws that small business owners and leaders will find helpful.
Also, I am offering a 1-hour facilitated Pandemic Crisis Planning meeting to help think through various questions every business leader should be considering. (No charge for this for any member of the Breakfast Club.) The outcome is a detailed set of actions for you and your leadership team to proactively move the business forward and survive this uncertain time. Issues we’ll cover:
- Staffing and people issues
- New Laws and getting in line for federal and state help
- Cash flow projections
- Revenue preservation
- Expenses cutting
- Customer communication
- Pivot points
- Creating new opportunities
Email me if you are interested.
Peter Eaton recommended that we add the website; www.healthdata.org to keep up on COVID-19 trends and issues. Peter also has some information to share on Paycheck Protection Plan loans available thru approved SBA lenders. Contact him for more info. He also passed along these attachments to the newsletter.
You can give feedback on this meeting to Chuck Shreffler at Chuck@chucklaw.com or 612-872-8000 by voice or text.
April 8- Virtual meeting