The parent company of TheStreet Inc., a financial news website co-founded by media personality Jim Cramer, received a $5.7 million loan as part of a program aimed at helping U.S. small businesses weather the pandemic, reports Matt Townsend of Bloomberg News.
Townsend reports, “The loan was included in documents released by the federal government on Monday chronicling the $669 billion Paycheck Protection Program. A spokesman for TheMaven Inc., which acquired TheStreet in 2019 for $16.5 million, said that for ‘ease-of-process’ reasons the borrowing was taken out under TheStreet’s name, but that it was for the entire consolidated company, which owns media properties such as Sports Illustrated.
“Cramer, who still supplies content to TheStreet under a deal that followed its acquisition by TheMaven, has been critical of how banks handled the Paycheck Protection Program. In April, he slammed financial institutions for approving loans to larger companies than should have been allowed.
Alex Davies is returning to Business Insider as a senior editor on the transportation team.
He will start next week.
Davies was with Wired magazine until May. Davies oversaw Wired’s transportation coverage, writing and editing stories with a focus on autonomous and electric vehicles, aviation, and infrastructure. His book recounting the creation of the self-driving car, “Driven: The Race to Create the Autonomous Car,” will be published in January 2021.
Davies joined Wired in May 2014 as associate editor after working at Business Insider, where he raised traffic to the transportation section over 300 percent, writing three to six articles daily covering transportation technology, business, and breaking news. He also edited articles written by fellow reporters, contributing authors, and interns.
The U.S. economy created jobs at a record clip in June as more restaurants and bars reopened, but 31.5 million Americans were collecting unemployment checks in the middle of the month, and a resurgence in COVID-19 cases suggested the labor market could suffer a setback in July.
Record spikes in new coronavirus infections in large parts of the country, including Arizona and the highly-populated states of California, Florida and Texas, have forced several jurisdictions to scale back or pause reopenings, and send some workers back home.
“I’ve had an interesting journey that has led to newspaper work. When I first started college, I was going to get a literature degree and thought I would like to work in the publishing business as I am an avid reader. I own 300 books and I usually read 40 to 50 books a year. But I discovered I loved writing just as much as reading. I have been editing friends’ papers since the 8th grade and loved doing it. I started taking journalism classes and loved them, so I chose to change my degree plan.”
Willmon is also editor-in-chief of The Western Front.
Previously, she was with Klipsun Magazine where she worked first as a reporter and then as copy editor. She has also interned at Bellingham Alive Magazine and served as a reporter at