To the Editor:
A recent Morgan-Stanley study of the federal PPP (Payroll Protection Program) showed that dozens of publicly traded companies were recipients of money intended to help small businesses and their employees survive this crisis.
One such example was UltraLife, which received $3.5 million. Apparently our lawmakers are partially to blame, by providing many loopholes in the legislation. Nonetheless, I consider it an abuse by these large corporations.
A few of them, when faced with public scrutiny, were shamed into sending the funds back.