Thread by @JuddLegum

.@RuthsChris had $42.2 million in profits last year, spent $5.2M buying its own stock, and pays its CEO $6.1M

It has $86M in cash reserves

It just received $20M in taxpayer money from a fund meant to keep "small businesses" afloat

But it gets worse

popular.info/p/a-raw-deal

@RuthsChris 2. The purpose of the Paycheck Protection Program is to keep people employed

But a Popular Information investigation reveals @RuthsChris has furloughed nearly all of its restaurant workers

It appears the $20M will be spent paying managers & executives

popular.info/p/a-raw-deal

3. Many small businesses on the brink of collapse were shut out of the program because the $ ran out

Companies like @RuthsChris, w/preexisting banking relationships, were put at the front of the line

@RuthsChris did not respond to my request for comment

popular.info/p/a-raw-deal

4. @RuthsChris is taking this money because it likes money and is betting that no one will notice

Accountability journalism can change the the dynamics by bringing attention to this kind of behavior

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@RuthsChris 5. It's not too late for @RuthsChris to do the right thing. This morning, @shakeshack announced it was returning its $10 million "small business" loan

nbcnews.com/news/us-news/s…

6. Like @shakeshack, @RuthsChris has other sources of cash. Prior to getting $20 million from taxpayers, it drew down tens of millions from existing credit lines.

popular.info/p/a-raw-deal

7. Congress is getting ready to add another $300 billion to this program. Would be a good idea to make sure that, this time, the money actually goes to the people that need it the most

popular.info/p/a-raw-deal