"A firm should have a retainer, like $150 a month, to cover payroll tax returns and other filings," he said.
"After everything we've been through, that's barely enough to cover payroll for a month," he said.
(Last week, the City of San Bernardino voted to file for bankruptcy, saying it would not be able to cover payroll costs through the summer).
Goldman disclosed that it set aside $2.38 billion in the quarter to cover payroll and benefits — 35 percent less than it set aside in the same quarter in 2012.
The movement had almost no money, and Dr. King had no idea where he was going to get the $30,000 he needed to cover payroll and other expenses like travel and bail.
The museum had been in arrears on its rent for a decade and owed $3 million to its former chairman, Frank J. Sciame, who lent it the money last year to cover payroll and operating expenses.
The Herald also reported that the theater's artistic director, Arnold Mittelman, took out a $125,000 loan on behalf of the playhouse to cover payroll and his own salary by using state grant money as collateral, which could be a violation of the theater's bylaws.
"The collapse of these mortgage-backed securities and other complex financial instruments froze the credit markets, including the markets that help small businesses access loans to cover payroll, to purchase supplies, or to expand in ways that create new jobs," he said.
We literally had to take $8,000 out of our personal savings to cover payroll and rent that month.
Right now, the startup doesn't cover payroll, benefits or other areas but it plans to move into those.
