Danny Meyer: How the Goverment Should Manage PPP Loans

Danny Meyer, Union Square Hospitality Group CEO  Chairman of Shake Shack spoke with SiriusXM Business Radio host Alan Fleischmann of "Leadership Matters" to discuss the latest news on his company choosing to return it’s $10 million Paycheck Protection Program (PPP) loan to the U.S. Government. He also offered suggestions to improve the program.

"I'll go to my grave saying that that Shake Shack, Randy Garutti, the CEO and the team made the right choice to apply for the PPP funding in order to keep as many people employed for as long as possible in the face of declining sales and operating losses every day, that every day since the virus began, Shake Shack has endured operating losses," he said. "But I also think that while they did the right thing to apply for the plan, once Shake Shack learned that so many had been shut out for a whole host of reasons, lack of funding, lack of proper contacts with banks, loan officers, then it puts Shake Shack in a position to do the…