Business Report: PPP loan approvals, Comcast data cap, Trump Plaza casino demolition

Wednesday 20th January 2021

Thousands of Paycheck Protection Program loans for small businesses have already been processed in the first week of the renewed Small Business Administration program. Last week the SBA was only looking at loans from financial institutions that work with underserved communities. Al Titone, the SBA District Director in New Jersey, says it looks like many Garden State businesses applied. Specific numbers for New Jersey aren't available yet, but the SBA says it processed about 60,000 loans nationally.

Plans by Comcast to impose a data cap on internet users in New Jersey has some state lawmakers fired up. Comcast is setting a cap of 1.2 TB, and if customers exceed that they will be charged higher fees. Sen. Troy Singleton and Assembly members Herb Conaway and Carol Murphy have asked Comcast to reconsider, saying the plan is ill-timed and insensitive, especially with so much remote working and schooling during the pandemic.

Billionaire investor Carl Icahn has nixed plans for an auction house to solicit bids to blow up the former Trump Plaza casino in Atlantic City, which he owns. Ichan sent Bodnar's Auction house a cease-and-desist order, saying the planned Jan. 29 demolition would be a public spectacle and a potential safety risk. Bodnar's was seeking the bids as a fundraiser for the Boys and Girls Club of Atlantic City. Instead, Icahn will make a donation to the group. A new demolition date for the Trump Plaza, which was once owned by former-President Trump, is set to be announced later this week.

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