DOL’s Increased Salary Test: What Employers Need to Know

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For months, employers have been anxiously awaiting the Department of Labor’s (DOL’s) final rule on exemptions from overtime under the Fair Labor Standards Act (FLSA) and wondering whether the DOL would pass the rule as previously proposed or make modifications to its June 2015 proposed rule. Now the wait is finally over and, as anticipated, the DOL’s final rule (which will be published in the Federal Register today) contains some significant changes for employers with salaried workers. Notably, this rule is only one of many new regulations that the President’s Administration pushed through by May 23, 2016 in order to ensure they take effect before President Obama’s term ends in January 2017. Below are several highlights of the final rule change, along with strategies employers should consider before the rule changes take effect. Continue reading this entry

Presentation Recap: Car Wars

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“A [not so] long time ago in an automotive industry [not] far, far away,” John Murphy, Research Analyst for Merrill Lynch delivered his popular annual “Car Wars” presentation in Detroit on May 10th. This was the 26th year of the report (which began in 1991), which is not quite as old as the 39-year old Star Wars franchise that dates back to 1977. But, for automotive geeks, both remain very interesting. Continue reading this entry

Attention Taxpayers: New IRS Rules May Deem Debt to Be Stock

Regulations

In April, the IRS proposed rules that would treat debt between related corporations as stock for U.S. tax purposes. These rules would apply to all corporations (including regular C corporations, S corporations, foreign corporations, and exempt organizations) related through 80% stock ownership, taking into account constructive ownership rules, except that members of a U.S. consolidated group would be exempted and treated as a single corporation. For example, the rules would apply to a U.S. parent and subsidiaries if they do not file U.S. federal consolidated returns; a foreign parent and U.S. subsidiary; and brother-sister corporations owned by a private equity fund, family, or exempt organization. Continue reading this entry

Industry Trends for 2016 and Beyond: A Recap of the Women in Automotive Conference

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Women in Manufacturing (WiM) hosted its fifth annual Women in Automotive Conference on April 26-27, 2016. The Conference was co-supported by the Automotive Women’s Alliance Foundation (AWAF) and Inforum AutomotiveNEXT. It was held in Michigan at the Detroit Marriott Troy and was another fantastic event attended by both women and men across the automotive industry. The agenda provided information and forecasts regarding emerging automotive trends and hot topics, interspersed with plenty of opportunities for networking. Continue reading this entry

The New “Persuader Rule” and Its Impact on Manufacturers

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The federal Office of Labor-Management Standards (“OLMS”) in the Department of Labor issued a Final Rule, on March 24, 2016, that significantly reinterprets the so-called Persuader Activities Rule. This rule represents the administrative implementation of provisions in the National Labor Relations Act that require (1) employers to annually report agreements that have the object of dissuading employees from supporting unions (“persuader activities agreements”), (2) consultants to report such persuader activities agreements within thirty days, and (3) consultants who enter any persuader activities agreements to annually report payments from employers for all “labor relations advice and services.” (the “LM-21 Report”) Continue reading this entry