Proposed Amendments to the FLSA: A Primer
The most substantial changes in more than 50 years to the way employers determine whether they are obligated to pay overtime compensation could well become reality. The United States Department of Labor (DOL) issued proposed revisions to its regulations on the "white-collar" exemptions to the Fair Labor Standards Act (FLSA) on March 31, 2003. If enacted in a version close to their present form, the way you do business could change considerably.
A Word To The Wise
It is often said that bad facts make bad law. A corollary to that principle may be that notorious clients make for problematic verdicts. Such was the case in <i>Bell v. Helmsley</i>, 2003 WL 1453108 (Sup.Ct. N.Y.Cty. 3/4/03), a trial dominated by the ever-entertaining presence of the Queen of Mean, Leona Helmsley.
Sex Harassment Case Nets EEOC $5.4 Million Dollar Settlement
Eight registered nurses who underwent pre-employment medical examinations were instead sexually harassed, according to a proposed Consent Decree submitted to Judge Leonard Sand by the EEOC and Lutheran Medical Center. Under the terms of the proposed settlement reached by the parties, the medical center has agreed to pay $5.425 million dollars to compensate the nurses and other female nurses similarly harassed.
Impact of Corporate Governance Reforms on Private Companies
Public companies are facing dramatic changes in disclosure and corporate governance requirements under the Sarbanes-Oxley Act of 2002 and new or proposed rules from the SEC, NASDAQ and the NYSE. While these new rules and regulations do not generally cover private companies, they do affect private companies.
Secondary Private Equity Funds: The Perfect Storm
Last month, the authors began discussing how the recent growth and maturity of the private equity market has generated significant secondary market opportunities. The discussion continues with one more motivation for selling and concludes by addressing regulatory changes and asset allocation shifts.
Why Web Sites Fail: Cost
This article examines the reasons why Web initiatives frequently do not meet their intended goals. While there are as many reasons for failure as there are different kinds of Web sites, this series is based on experiences I have had over the past 5 years as a Web site builder and refers to Web sites that are used for client acquisition, customer relationship management and e-commerce. One reason: an often pernicious issue - cost.
Is Split Dollar Dead? What to Do With Existing Plans and Do New Split Dollar Plans Make Sense?
Over the past 30 years, split dollar plans have been a very popular fringe benefit that closely held and publicly traded businesses have made available to owners and executives in closely held and publicly traded businesses. Split dollar subsidized the purchase of permanent life insurance that was used to deal with a variety of planning issues owners and executives commonly encountered.
Fiduciary Hopefuls Must Meet New Requirements
With a June 1 due date looming for a new list of eligible fiduciaries, lawyers interested in qualifying for the court-appointed positions must meet the new training requirements announced by Chief Administrative Judge Jonathan Lippman in March. Developing new training requirements was one of the recommendations of a blue-ribbon panel appointed by Chief Judge Judith S. Kaye to examine the court's system for the appointment of fiduciaries to ensure there is no favoritism.
Separation Agreements — Contracts Governed by Contract Law
There appears to be no reason why the parties to a separation agreement cannot specifically provide in their agreement that a resumption of marital relations will not be deemed a reconciliation, and that the separation agreement will not be impaired or invalidated thereby unless a formal written document is executed by the parties acknowledging such reconciliation and affirmatively canceling the agreement. Indeed, such language is commonly found in separation agreements, and its obvious purpose is to avoid subsequent litigation in the event of a failed reconciliation attempt.
