Private Jet Company Founded By Trump Donor Gets $27 Million Bailout

[babylonsister]

So who has selectively been divvying out this money?

https://crooksandliars.com/2020/05/private-jet-company-founded-trump-donor

5/14/20 9:17am
Read time: 1 minute
26 comments
Private Jet Company Founded By Trump Donor Gets $27 Million Bailout
Clay Lacy Aviation received the money as a gift through the CARES Act.
By Ed Scarce


According to reports, Clay Lacy Aviation is about a $1.5 billion company that employs around 500 people. Hershel Clay Lacy himself, the company founder, is said to be a multimillionaire, but not a billionaire. Lacy maxed out to Trump, and gave another $47,000 to the RNC in 2016. Who knows how much dark money he gave.

So the gift to his company, a grant, not a loan, of $27 million taxpayer dollars is raising more than a few eyebrows.

Source: CNBC

A private jet company founded by a donor to President Donald Trump received nearly $27 million in government funding under a program run by the Treasury Department, according to government filings.

Clay Lacy Aviation, a private jet charter company based in Van Nuys, California, that serves wealthy executives and celebrities, received the government grant as part of the CARES Act, a $2 trillion federal stimulus package aimed at supporting jobs during the coronavirus crisis.

The company appears to have received the largest grant of any private jet company on the list. The vast majority of the other 96 recipients of government funding or loans on the list are major commercial airlines, regional carriers or support companies.

The funding is a grant rather than a loan, and doesn’t need to be repaid to the government. The money is part of the CARES Act program to “compensate aviation industry workers and preserve jobs.

Clay Lacy didn’t return calls for comment. A spokesperson for the Treasury Department didn’t respond to a request for comment.

[leftieNanner]

1. The thing about these PPP "grants"

Is that they are grants - but only up to a point. A 501c3 organization I am involved with got one of these a few weeks ago. BUT - and this is the tricky part - we have to keep track of our allowed expenses (payroll, mortgage interest, utilities) for 8 weeks after receipt of the funds. We must spend ALL of that money for those very specific things (non-payroll expenses cannot exceed 25% of the total) during those 8 weeks. We will be required to file a report at the end of the period and provide documentation to the money spent and that amount will be forgiven. The key is to spend it all. If you don't, then the difference becomes a LOAN that must be repaid. If this company can't do that, then they end up with a big chunk of debt.

[Hoyt]

2. If he keeps employees on as required by the Act, I'm OK with it.

May not like the owner because he supports trump, but that has nothing to do with loans/grants under Act.

[musclecar6]

3. Clay Lacy

Is a United Airlines pilot scab. For those not familiar with the airline pilot career field, a scab is an airline pilot who crosses a picket line when an airline is on strike. Scab Clay Lacy, was a senior United Airlines pilot who crossed the picket line and flew trips when United Airlines was on strike in 1985. The pilots at United detest him as he was all out for himself and to hell with anyone else. No wonder his company gave money to Trump and got the 27 million grant. Both have something in common. TRASH.