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December 2, 2016
(December 2, 2016) We recently wrote about a Texas federal judge’s November 22, 2016 injunction preventing implementation of the Department of Labor’s new overtime rules that would have raised the minimum salary for overtime exempt employees from $23,660 annually to $47,476 annually. The ruling of the lower Court came just days before employers nationwide were […]
December 2, 2016
(December 2, 2016) An opinion issued recently by the Michigan Court of Appeals highlights the need for business organizations to pay special attention to not only the language of contracting documents, but also to understand the meaning and consequences of any documents incorporated into those contracts “by reference.” In Naturipe Foods, LLC v Siegel Egg […]
November 23, 2016
(November 23, 2016) Businesses from coast to coast have spent the last several months analyzing and making plans to implement the Department of Labor’s new overtime rules which basically doubled the compensation floor for salaried employees and were to go into effect on December 1, 2016. That all changed Tuesday, November 22nd, when U.S. Federal […]
November 21, 2016
Q: I know that the FLSA salary basis changes on December 1, 2016. So, as long as my salaried employees make at least $47,476 I am in compliance, right? A: Not necessarily. Earlier this year the U.S. Department of Labor issued new regulations which raised the salary basis requirement under the Fair Labor Standards Act […]
November 20, 2016
(November 21, 2016) The recent election could mean significant changes in estate and gift tax laws. We believe recent regulatory efforts to abolish valuation discounts will effectively be suspended, and the federal estate/gift tax may soon be repealed. Under current federal estate and gift tax laws, a person is typically taxed at about a 40% […]
November 17, 2016
(November 17, 2016) In a published opinion, the Michigan Court of Appeals has clarified the meaning of “full-time basis” for child support after a child’s 18th birthday. In Weaver v Giffels, the Court of Appeals reversed a ruling by a Kalamazoo Circuit Court Judge which allowed child support beyond a child’s 18th birthday under the […]
November 7, 2016
(November 8, 2016) In the last blog post, we talked about senior debt as the primary source of development funds. Unfortunately for developers, senior debt is rarely sufficient to fund the entire project, and the next most common source of funding after senior debt is equity. Senior lenders will not close on the senior loan […]
November 1, 2016
(November 1, 2016) In a recent unpublished opinion, the Court of Appeals reversed the trial court’s decision granting partial summary disposition in favor of defendant Oakwood Healthcare on the plaintiff’s claim of vicarious liability based on the conduct of on-call surgeon Alice Shanaver, DO. Thomas v Oakwood Healthcare (COA Docket No. 326072). The plaintiff’s claims […]
October 20, 2016
(October 20, 2016) In the past decade, employers have explored numerous ways to trim the number of employees on staff. While much of the trimming has been necessary due to automation and productivity gains, some of it has been driven by the desire to avoid statutory mandates that are triggered by certain thresholds such as […]
October 13, 2016
(October 13, 2016) The implied warranty of merchantability requires that goods reasonably conform to an ordinary buyer’s expectations. However, many contracts disclaim implied warranties in the terms and conditions section. The Kent County Specialized Business Docket (“Business Court”) recently addressed the issue of disclaiming implied warranties in Noble Polymers LLC v Hanover Specialties Inc. In […]