COVID Stimulus Watch Individual Entry
Recipient Company:
3M Company
Loan or Loan Guarantee Amount:
$4,356,304
Recipient Details
Ownership Structure: publicly traded (ticker symbol MMM)
Award Details
Award Date: Jun 28, 2020
Award Type: loan
Award Details: Amount represents the purchase price of company bonds bought by the Fed.
Program Name: Secondary Market Corporate Credit Facility
Legislation: CARES
Awarding Agency: Federal Reserve
Data Source for Award:
https://www.federalreserve.gov/publications/reports-to-congress-in-respo...
Parent Company Data
Parent Company: 3M Company
Headquartered in: Minnesota
Parent Sector: miscellaneous manufacturing
Parent Industry: diversified
Employees (prior to pandemic): 96,163
Accountability Issues Since 2010
Employment-related Penalties: $21,949,213
Government-contracting-related Penalties: $9,100,000
Environmental / Healthcare / Safety Penalties: $891,265,612
Consumer Protection / Financial / Competition-related Penalties: $480,000
Ratio of CEO Pay to that of Median Worker: 319 to 1
CEO Compensation: $18,321,566
Worker Median Pay: $57,494
Total Federal, State, and Local Subsidies: $133,398,440
Federal Corporate Income Tax Rate: 17.8%
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