ABMA Community Chat Thursday May 21 Recap and Upcoming Chat May 28

Thu May 21, 2020

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ABMA Community Chat May 21 Recap

Workshare was discussed relative to different states and its continuing effect on PPP and upcoming forgiveness calculations. Please do the math on an ongoing basis so you can see where you are headed.

The Application for Forgiveness contains a number of elements that may be of concern to manufacturers in that the rules for forgiveness appear to be slightly different in a number of areas than all may imagined in the beginning as PPP was rolling out. These slight changes may make it a bit more difficult to maximize your forgiveness calculation so you may need assistance from your payroll service or accounting firm in the process.

Some discussed the idea that if the PPP ends in 8 weeks and is not extended it may putome organization is a position where at the end of PPP an organization may need to shrink headcount. Nobody is anxious to see that happen.

There was discussion about the speed of the return of business and the general consensus was that orders may increase with delivery expectations that outpace capacity output in the near term. The start / stop / start of the US auto industry may be a good example for ABMA member companies to watch as things open up.

On a bright note many on the call felt that over the past 7 days there has been a general improvement in business conditions from the prior month. This is the second week in a row of such feelings.

ABMA Community Chat May 28 2020

ABMA will be hosting another video networking session on Thursday May 28 beginning at 330p MDT. The sessions are designed to allow the ABMA Community to share experiences and information about the pressing issues of the day and to foster exchange of ideas and experiences that concern the industry.
This session will have 
the following Agenda:

1. Follow up on the CARES ACT Paycheck Protection Program

2. Supply Chain Disruption Issues

3. Employee retention Issues

4. Reopening Plans

6. Around the horn (new business)

7. Happy Hour. Time to enjoy the great folks in this industry

ABMA Community Chat Zoom Meeting
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