Howard Schultz urges government to save small restaurants with a financial 'bridge to a vaccine' [MSNBC.com]
Starbucks Corporation (SBUX)
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Source: MSNBC.com
VIDEO14:12Former Starbucks CEO Howard Schultz's full interview on restarting US economySquawk Box"What's needed is not another version of PPP. Again, good intent but it's the wrong medicine," the billionaire former"Squawk Box."Rather, Schultz said he believes the government needs to create a robust program to serve as a "bridge to a vaccine." The price tag may be around $1 trillion, he said. "It's large. I understand it."But he argued the cost of the program will be "much, much less" than the cost of more than 100,000 small restaurants potentially closing for good due to the coronavirus crisis.Millions of Americans would then be out of a job, Schultz said. "Not to mention the social fabric of every community which the independent restaurant is so linked to."Schultz's comments Tuesday came as the Senate looked to add funding for the small business loan program, which last week exhausted its initial $349 billion. Senate Minority Leader Chuck Schumer said Tuesday he believesthe upper cha
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