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This Company Got a $10 Million PPP Loan, Then Closed Its Plant and Moved Manufacturing Jobs to Mexico Details BUSINESS OR FUNNY BUSINESS-Late last summer, after churning along through the pandemic with only a two-week pause, managers at FreightCar America called hundreds of workers into the break area at the company’s factory near Muscle Shoals, Alabama, to tell them that the plant was closing for good. For some employees, the news wasn’t a shock: They’d been hearing rumors that management would move the work elsewhere for years. The timing, however, seemed odd. Only a few months earlier, the publicly traded company had received a $10 million Paycheck Protection Program Loan the maximum amount available under a pandemic relief program designed to keep workers employed. Some had believed the funds would keep the doors open for a little while longer. ....
ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive our biggest stories as soon as they’re published. Investigative reporting can require months, or even years, of work before it’s published; that’s ProPublica’s specialty. Our reporters go into the world, sometimes following a hunch or a tip; spend ages burrowing down a rabbit hole; and emerge having frequently uncovered deeply unsettling abuses of power. It’s why our work often falls outside the day-to-day news cycle. But there was nothing regular about what happened in March. In just a few weeks, everything about the world changed. Our conference rooms went quiet as Manhattan’s offices emptied, and the general din of our collaborative newsroom transformed into a complicated web of group chats, direct messages, email listservs and more. ....