New Era isn’t the only WNY company to take PPP loans before layoffs

New Era Cap isn’t the only local company to accept the loan and also lay off employees.

LOT OF HEAT TONIGHTAFTER LAYING-OFFROUGHLY A THIRD OFITS WORKFORCE HEREIN BUFFALO.AND LOCAL LEADERS--NOT HIDING THEIRANGER ORDISAPPOINTMENT."I'M EXCEPTIONALLYDISAPPOINTED WITHNEW ERA.""THE MINUTE THEPROGRAM ENDS FORTHEM TO CUT THEIREMPLOYEES OUT IS ABAD IDEA."SENATOR SCHUMERIS TALKING ABOUT THEPAY-CHECKPROTECTIONPROGRAM, ALSOKNOWN AS P-P-P.BUSINESSESIMPACTED BY FORCEDCOVID-19 CLOSURESCOULD FILE FORASSISTANCE FROMTHE SMALL BUSINESSADMINISTRATION.BUT NOW -- SOME OFTHOSE BUSINESSES,LIKE NEW ERA - AREUNDER SCRUTINY FORTHEIR ACTIONSAFTER GETTINGTHAT MONEY.TONIGHT, CHIEFINVESTIGATORCHARLIE SPECHT ISLOOKING AT THE FINEPRINT, TO SEE IFCOMPANIES AREPLAYING BY THERULES.THE LAYOFFS OF 117EMPLOYEES INWESTERN NEW YORKBY BUFFALO-BASEDNEW ERA CAP HASELECTED OFFICIALS ATALL LEVELS STEAMING.MARK POLONCARZ:"THEIR NAME SHOULDNO LONGER BE ON THESTADIUM IF THEY'REGOING TO CONTINUETO LAY OFF OUREMPLOYEES IF THEY'REGOING TO SAY SORRY.THE HECK WITH IT."PART OF THEFRUSTRATION COMESFROM THE FACT THATACCORDING TOFEDERAL DATA, NEWERA RECEIVED A5 TO 10 MILLIONDOLLAR FORGIVABLELOAN THROUGH THEGOVERNMENT'SPAYROLL PROTECTIONPROGRAM, WHICHWAS ENACTEDBY CONGRESS WITHTHE QUOTE,"OVERARCHING GOALOF KEEPINGWORKERS PAID ANDEMPLOYED."SOT/MAYOR BYRONBROWN:SO TO TAKE MONEY TOHELP YOUR BUSINESSDESIGNED TO KEEPPEOPLE WORKING, ANDTHEN TO LAY PEOPLEOFF, IS THE WRONGTHING.BUT NEW ERA ISN'TTHE ONLY LOCALCOMPANY TO ACCEPTTHE LOAN AND ALSOLAYOFF EMPLOYEES.BUFFALO TORONTOPUBLIC MEDIA, WHICHINCLUDES WNED ANDWBFO, TOOK A LOANOF BETWEEN 1 AND 2MILLION... ONLY TO LAYOFFFIVE EMPLOYEES LASTMONTH.HEIDI JONES/TAXATTORNEY:THE MORE MONEY YOUCOULD GET YOURHANDS ON TO MAKE ITTHROUGH THIS...THAT'SWHAT I AS ANATTORNEY WASENCOURAGING MYCLIENTS TO DO.HEIDI JONES IS A TAXATTORNEY AND SMALLBUSINESS OWNER INBUFFALO...AND SHESAYS SINCE THEPROGRAM WASFIRST-COME, FIRST-SERVE, BUSINESSESAPPLIED FOR THEFUNDS WITHOUTKNOWING WHETHERLAYOFFS WOULD BENECESSARY LATERON.FROM A PUBLICPERCEPTION, THATLOOKS TERRIBLE.

ATTHE SAME TIME, THAT'SHOW CAPITALISMWORKS.

ANDMAXIMIZING THEPROFIT IS THE GOAL.IN THE CASE OFWBFO..

WHICH IS ANON-PROFIT PUBLICRADIO STATION, TAXRECORDS FILED WITHTHE IRS SHOW CEODON BOSWELL MAKESMORE THAN $380,000PER YEAR.BOSWELL WAS NOTAVAILABLE FOR ANINTERVIEW, BUTSPOKESWOMANHEATHER HARE SAIDBOSWELL'SCOMPENSATION WASIN LINE WITH OTHERNON-PROFIT CEOS INTHE REGION.

SHEALSO SAID BOSWELL'SBASE SALARY HASNOT CHANGED SINCE2013STANDUP:IT'S IMPORTANT TONOTE THAT NONE OFTHESE COMPANIESSTAND ACCUSED OFDOING ANYTHINGILLEGAL.COMPANIES ARE FREETO LAY OFFEMPLOYEES AS SOONAS THE PROGRAMENDS.FOR THE I-TEAM,CHARLIE SPECHT, 7EYEWITNESS NEWS