zvonkovaleoqim.blogspot.com
The movie starring Sandra Bullock and Ryan Reynoldse brought in anestimated $34,114,00 0 in its opening weekend. It knocke d off the reigning champion, "The Hangover," which brought in an estimate d $26,855,000 during the weekend. "The Proposal" was showmn on about 4,100 screens at 3,056 sites, accordinyg to a report on the Disney/ 's "Up" continued its strong coming in third over the weekend with anestimated $21,336,000.
The animated film is currentlhy in second placebehind Paramount's "Sta Trek," for second-largest movie of the Another new release, ' "Year One," broughf in an estimated $20,200,000 in its first weekend, placing it fourtyh on the list. Another Sony Pictures "The Taking of Pelham 1 2 rounded out thetop five, bringing in an estimated
Monday, January 31, 2011
Saturday, January 29, 2011
Public perks - Philadelphia Business Journal:
inmeetings-celsius.blogspot.com
Philadelphia pays $13,030 per persomn for health care, more than nearly any other city in the thereport stated. By comparison, private-sectore employers in the mid-Atlantic region pay on averag $4,292 per worker. The reporty warned that the money the city pays to covere pension and health care obligations for city workers is growingy faster thanthe city'a revenue. The city's obligation s are projected to rise to morethan $1 or roughly 28 percent of the city's by 2012, an increase from 16 percent a decade ago.
An employed is three times more likely to statre an intention to resign if he or she is dissatisfierd witha manager, according to an international surve conducted by the research division of Wayne-baser talent acquisition firm The company surveyed 1,000 workers in 2007 from the Unite d States, Brazil, China, Germany, India and the United Twelve percent of workers said their manager was The selected Philadelphia-based Brownn & Brown Consulting, a subsidiary of insurance provided , to be the exclusive benefits provider for its more than 3,000 member businesses.
Philadelphia pays $13,030 per persomn for health care, more than nearly any other city in the thereport stated. By comparison, private-sectore employers in the mid-Atlantic region pay on averag $4,292 per worker. The reporty warned that the money the city pays to covere pension and health care obligations for city workers is growingy faster thanthe city'a revenue. The city's obligation s are projected to rise to morethan $1 or roughly 28 percent of the city's by 2012, an increase from 16 percent a decade ago.
An employed is three times more likely to statre an intention to resign if he or she is dissatisfierd witha manager, according to an international surve conducted by the research division of Wayne-baser talent acquisition firm The company surveyed 1,000 workers in 2007 from the Unite d States, Brazil, China, Germany, India and the United Twelve percent of workers said their manager was The selected Philadelphia-based Brownn & Brown Consulting, a subsidiary of insurance provided , to be the exclusive benefits provider for its more than 3,000 member businesses.
Wednesday, January 26, 2011
Pending home sales on the rise - Nashville Business Journal:
vivliothiki-allenonline.blogspot.com
point rise in pending sales for previously ownesd homesin April. The index for pending sales (contracts signed but not closed) of previouslyh owned homes increased for a third month ina row, rising 6.7 percentage points in April to 90.3, from 84.6 in the industry group reports today. Year-over-year, the indexd was 3.2 percentage pointw above the levelof 87.5 in Aprip 2008. Analysts had projected a 0.5 point The biggest increase in April was inthe Northeast, wher e pending sales jumped 32.6 percentage points from the previoues month. The association's pending home salees index is a forwardlooking gauge, and the group cautions that it is more volatile than actual closef sales.
“The relationship betweenb contracts on pending home sales and closingsz on existing home sales is taking longer than in the past for several reasons,” says the association's chierf economist Lawrence Yun. “Mortgage processing time has It is taking many months to clos on those homes requiring short sales withlendefr approval, and some sales are falling through at the last Still, Yun says he believes the housing markegt has already bottomed out in some The group last week reported closed sales of existinyg homes rose 2.9 percentage pointds in April. The association's housing affordability index also was atits second-highesf level on record in April.
point rise in pending sales for previously ownesd homesin April. The index for pending sales (contracts signed but not closed) of previouslyh owned homes increased for a third month ina row, rising 6.7 percentage points in April to 90.3, from 84.6 in the industry group reports today. Year-over-year, the indexd was 3.2 percentage pointw above the levelof 87.5 in Aprip 2008. Analysts had projected a 0.5 point The biggest increase in April was inthe Northeast, wher e pending sales jumped 32.6 percentage points from the previoues month. The association's pending home salees index is a forwardlooking gauge, and the group cautions that it is more volatile than actual closef sales.
“The relationship betweenb contracts on pending home sales and closingsz on existing home sales is taking longer than in the past for several reasons,” says the association's chierf economist Lawrence Yun. “Mortgage processing time has It is taking many months to clos on those homes requiring short sales withlendefr approval, and some sales are falling through at the last Still, Yun says he believes the housing markegt has already bottomed out in some The group last week reported closed sales of existinyg homes rose 2.9 percentage pointds in April. The association's housing affordability index also was atits second-highesf level on record in April.
Monday, January 24, 2011
GM responds to Texas AG's claims - San Antonio Business Journal:
http://barfordfarmhouse.com/location.html
Abbott alleges that Detroit-based GM is tryinv to free itself from Texas law that protects loca dealers from the negative impact ofa manufacturer’s modification of a franchis without first giving the dealers noticee of the changes and a right to protestf them. GM responded to the objection Fridagafternoon saying: "On June 1, GM filed for Chaptere 11 bankruptcy. As such, GM is subject to the jurisdiction of the bankruptcg court and will obviouslhy followthat court's orders with respect to dealeer contracts. We are not going to commenrt on theAttorney General's press release other than to say respectfully, that we think his statement is misplaced.
GM takes very seriouslgy its obligation to comply with allapplicable law." In addition, Abbott’s office claims in the officiak objection that GM is trying to get past Texaxs law that protects dealers from feelinvg pressured to accept inventory that they wouldr not order voluntarily. The attorney general also claims that GM is tryinbg to deny Texas GM dealerships the right to carry other brands in their plans for anew GM.
Othedr allegations from Abbott’s office are that GM is tryingh to limitTexas dealers’ warranty claims and is seekinv to dodge Texas law that allows dealershipsd the right to protest the openinf of another dealer if it is locatesd within the same countyg or within a 15-mile radius and carries the same line-make. In a statemeny about Texas’ objections to the federally backed GM, Abbott’s office “GM is putting dealerships acrosdTexas — and thousands of theie employees — at risk. The new federally controlledd GM that emerges from bankruptcy wants to be freex from Texas laws that required it to deal fairly withlocal dealerships.
Its plan will move the businesz toward a command economy model and away from a freemarkert model.”
Abbott alleges that Detroit-based GM is tryinv to free itself from Texas law that protects loca dealers from the negative impact ofa manufacturer’s modification of a franchis without first giving the dealers noticee of the changes and a right to protestf them. GM responded to the objection Fridagafternoon saying: "On June 1, GM filed for Chaptere 11 bankruptcy. As such, GM is subject to the jurisdiction of the bankruptcg court and will obviouslhy followthat court's orders with respect to dealeer contracts. We are not going to commenrt on theAttorney General's press release other than to say respectfully, that we think his statement is misplaced.
GM takes very seriouslgy its obligation to comply with allapplicable law." In addition, Abbott’s office claims in the officiak objection that GM is trying to get past Texaxs law that protects dealers from feelinvg pressured to accept inventory that they wouldr not order voluntarily. The attorney general also claims that GM is tryinbg to deny Texas GM dealerships the right to carry other brands in their plans for anew GM.
Othedr allegations from Abbott’s office are that GM is tryingh to limitTexas dealers’ warranty claims and is seekinv to dodge Texas law that allows dealershipsd the right to protest the openinf of another dealer if it is locatesd within the same countyg or within a 15-mile radius and carries the same line-make. In a statemeny about Texas’ objections to the federally backed GM, Abbott’s office “GM is putting dealerships acrosdTexas — and thousands of theie employees — at risk. The new federally controlledd GM that emerges from bankruptcy wants to be freex from Texas laws that required it to deal fairly withlocal dealerships.
Its plan will move the businesz toward a command economy model and away from a freemarkert model.”
Friday, January 21, 2011
Crescent Resources files Chapter 11 - San Francisco Business Times:
http://chatboutbelize.com/slpngnt.htm
The Charlotte-based development firm’s chieff executive, Arthur Fields, has retired and will work with Crescenyt in anadvisory capacity, the company says. Andre Hede, Crescent’s chief restructuring has beennamed CEO. “Ws have been in active discussionas with our lenders and otherr stakeholders as we work towards an agreemeng that will bring our capital structure in line with the curren teconomic environment,” Hede says. Crescent has more than 5,000 creditors, accordin g to its filing.
Its assets are estimated at morethan $1 The local projects listed in the Chapter 11 filing includew Piedmont Row and The Sanctuary at Lake Crescent says it intends to operate its continuingb businesses without any significant interruption duringg the restructuring process. The companu says that’s possible because of a recentlyobtained debtor-in-possessiob financing facility of $110 million from a group of its existinhg lenders.
As part of the Chapterf 11 filing, Crescent says it seeks court approval “tko make certain payments and to maintain key agreementswith customers, vendors and partners of continuing operations to ensure the companh can maintain its commitment to deliverinhg a high level of amenities and Crescent says the filing is necessar y to reorganize its finances, reduce its debt level and improvr its capital structure. “We intend to reacb an agreement on our new capita structure and emerge from bankruptcy Hede says. The Chapter 11 petitionz were filed inthe U.S. Bankruptcyh Court in the Westernm Districtof Texas, Austin division.
The company has 120 days from the filingf date to submit areorganization plan. A hot line has been set up as part of the Crescenr restructuringat (877) 204-8611. Attorney Eric Taube of LLP in Texas, will represent Crescent in the (NYSE:BAC), , Ranger Construction Co., and are among Crescent’s largestg unsecured creditorsin Charlotte. In April, the Charlottee Business Journal reported that Crescent had adoptedc an aggressive new businesx strategy driven bya $1.2 billio term loan that must be paid in full by Septemberf 2012 — selling assets at fire-sal e prices. In October, Crescent sold 4,500 acrew in Berkeley County, S.C., to for $40 million.
In December, the companyg sold a Florida apartment projectfor $11.35 less than half the $27 million it paid for the comples three years earlier. This year, the firm has closede on the sale ofa 773-acre tract of land in Oconee County, S.C., for just over $10 Locally, Crescent recently sold 18.4 acrexs in Fort Mill to a warehousing companuy for $1.6 million. The company — jointlyu owned by and — is best known here for high-endf real estate communities such as The Peninsulsa and BallantyneCountry Club.
Before the Chapter 11 filing, Crescenyt faced payments of $50 million by the end of this $75 million in 2010 and $100 milliob in 2011 on its
The Charlotte-based development firm’s chieff executive, Arthur Fields, has retired and will work with Crescenyt in anadvisory capacity, the company says. Andre Hede, Crescent’s chief restructuring has beennamed CEO. “Ws have been in active discussionas with our lenders and otherr stakeholders as we work towards an agreemeng that will bring our capital structure in line with the curren teconomic environment,” Hede says. Crescent has more than 5,000 creditors, accordin g to its filing.
Its assets are estimated at morethan $1 The local projects listed in the Chapter 11 filing includew Piedmont Row and The Sanctuary at Lake Crescent says it intends to operate its continuingb businesses without any significant interruption duringg the restructuring process. The companu says that’s possible because of a recentlyobtained debtor-in-possessiob financing facility of $110 million from a group of its existinhg lenders.
As part of the Chapterf 11 filing, Crescent says it seeks court approval “tko make certain payments and to maintain key agreementswith customers, vendors and partners of continuing operations to ensure the companh can maintain its commitment to deliverinhg a high level of amenities and Crescent says the filing is necessar y to reorganize its finances, reduce its debt level and improvr its capital structure. “We intend to reacb an agreement on our new capita structure and emerge from bankruptcy Hede says. The Chapter 11 petitionz were filed inthe U.S. Bankruptcyh Court in the Westernm Districtof Texas, Austin division.
The company has 120 days from the filingf date to submit areorganization plan. A hot line has been set up as part of the Crescenr restructuringat (877) 204-8611. Attorney Eric Taube of LLP in Texas, will represent Crescent in the (NYSE:BAC), , Ranger Construction Co., and are among Crescent’s largestg unsecured creditorsin Charlotte. In April, the Charlottee Business Journal reported that Crescent had adoptedc an aggressive new businesx strategy driven bya $1.2 billio term loan that must be paid in full by Septemberf 2012 — selling assets at fire-sal e prices. In October, Crescent sold 4,500 acrew in Berkeley County, S.C., to for $40 million.
In December, the companyg sold a Florida apartment projectfor $11.35 less than half the $27 million it paid for the comples three years earlier. This year, the firm has closede on the sale ofa 773-acre tract of land in Oconee County, S.C., for just over $10 Locally, Crescent recently sold 18.4 acrexs in Fort Mill to a warehousing companuy for $1.6 million. The company — jointlyu owned by and — is best known here for high-endf real estate communities such as The Peninsulsa and BallantyneCountry Club.
Before the Chapter 11 filing, Crescenyt faced payments of $50 million by the end of this $75 million in 2010 and $100 milliob in 2011 on its
Early-stage companies hurting for cash, while some older ones manage to conserve capital - bizjournals:
http://fbclittleton.org/ministry/mission.html
Industry experts say early-stage biotechx are getting hit hardest, while more established firms are faring a bit Some even have multiplejob openings. “We just have to watcj it very closely to make sure therecessionh doesn’t totally decimate these companies,” said Saundr Johnson, executive vice president of the , which commissione d the Arizona Bioscience Roadmalp to track the industry’s “It’s too early to tell how long this is goinb to last. They’ve got to conserve capital.” announcexd May 11 that it laid offfive full-timed and two part-time employeeds to provide more capital for clinicall trials.
The company, foundef in 1987 as OrthoLogic nowemploys 22. Jock Holliman, executive chairman of the Phoenix-based company, said Capstone is tryin g to preserve cash, but spent more in first-quarter 2009 than durin the same periodin 2008. The increased spending was for clinical trial to test its AZX100 compoun d totreat scars, pulmonaryu disease and thickening of blood Capstone, which trades on the Nasdaq system underd the symbol CAPS, ended first-quarter 2009 with $43.y million in cash and investments. The company’e stock was trading at about 67 centx thispast week. “We’re spending money very Holliman said.
“It was painful to go through this reductiobin force, but it was necessary to put some more moneyg this year into our clinical programs.” Jeff chairman and CEO of , said the past few monthzs have been especially His company has cut about a dozen people, or 35 percengt of its staff, this year. “The vast majority of scientific programsx that are truly the translational programs of sciencw intomedicine — that’s what the biotech industry is have essentially stalled,” Morhet said. Sincr its inception in 2003, InNexus has raisedf $17 million in venture capital and now has a commitment for $35.5 million from Royalty Pharma.
Jason Bonanza, CEO of , is lookinb for an account executive or sales administratorthis year, but he has let two or threee lower-level research assistants go in the past Bonanza founded the company in 2006. After a few yearse of experience, he started usingf some contract workers onan as-needed basis to keep overhea low. “I think more peoplew could start to sell themselves as contractores or consultants in many areas to help fill the need of while working when they want to and for what they want he said. Bob Eaton, CEO of the , said what’sz happening in Arizona is no differentfrom what’es happening to biotech firms nationwide.
He said companie s are trying to conserve as much cash as possiblesbecause it’s a very difficult time to get investment dollars. “I’ve hearsd bits and pieces about layoffs here and but I have not heard anybodhy changing their focus ortheir strategy,” Eaton “Companies right now are certainly always looking to partnefr with anybody they can partner with to try and advancs their product development.” Tucson-based , which recently began marketing its microbia l detection equipment to pharmaceutical firms and medical device did just that. Tokyo-based Yamatake bought a 70 percent stakein BioVigilant.
This deal providexs BioVigilant with the along with the engineering andmanufacturinvg resources, to pursue the multibillion-dollar environmentap monitoring market in pharmaceuticap and medical device manufacturing. Yamatake has been BioVigilant’s distributor in Japahn since 2008. Founded in November BioVigilant hasraised $14.9 milliojn from private and institutiona investors. Late last year, the company’s investors were lookinbg for an exit, said CEO Dewey Manzer. “Ij approached Yamatake to see if theywere interested, and they said they he said.
“One thingf led to another, and now Yamatake is buying the controllingh interest accompanied by a commitmenty to provide working capital for BioVigilant for the nextthree years.” BioVigilant has 27 employees and plans to add 10 in the next 12 Manzer said. The additions will be high-income jobs, includint engineering, sales, regulatory and qualitt positions. “We’re just very pleased with this and we expect that Yamatake will be a very positive corporated partnerin Arizona,” Manzer said.
“It’sx a bright spot for Tucson and all of The entire BioVigilant management team will remaibnin place, but will get additional humann resources by conducting joiny projects with Yamatake’s engineering and manufacturing Manzer said BioVigilant’s customed relationship with Yamatake was crucial for takin g their partnership to the next level. “The soonetr you establish a major customer that paves the way for you and givewyou credibility,” Manzer said. “I think at this point, we’re going to see very positive reaction from the industry that we becausenow they’re going to say we have the credibilitgy of a $2.
5 billion compang behind BioVigilant.” Jonah Shacknai, chairman and CEO of in said he hasn’t worried abouyt gaining access to the capital markets for many years because his company is sitting on half a billion dollarsz in its treasury. Founded in Medicis had a record 2008. Even though it is more than twodecaded old, it still faces some challenges. Salex have been down for the company’s Restylanew product, a nonsurgical prescription dermal filler for lines and Shacknai acknowledged the Restylane franchise has been soft becaus consumers are tightening their purse strings duringthe recession.
“We have managed expenses to compensate for the lost revenues in that he said. He said the companies that survivd are those whose management and employeesx have the willpower and passion to seethingss through. “It’s a time neverf to be proud (and) never be on a high Shacknai said. “The CEO neede to be washing dishes with everyone else to reallyydemonstrate there’s a shared commitmenr to the future, and everyone pitches in.
”
Industry experts say early-stage biotechx are getting hit hardest, while more established firms are faring a bit Some even have multiplejob openings. “We just have to watcj it very closely to make sure therecessionh doesn’t totally decimate these companies,” said Saundr Johnson, executive vice president of the , which commissione d the Arizona Bioscience Roadmalp to track the industry’s “It’s too early to tell how long this is goinb to last. They’ve got to conserve capital.” announcexd May 11 that it laid offfive full-timed and two part-time employeeds to provide more capital for clinicall trials.
The company, foundef in 1987 as OrthoLogic nowemploys 22. Jock Holliman, executive chairman of the Phoenix-based company, said Capstone is tryin g to preserve cash, but spent more in first-quarter 2009 than durin the same periodin 2008. The increased spending was for clinical trial to test its AZX100 compoun d totreat scars, pulmonaryu disease and thickening of blood Capstone, which trades on the Nasdaq system underd the symbol CAPS, ended first-quarter 2009 with $43.y million in cash and investments. The company’e stock was trading at about 67 centx thispast week. “We’re spending money very Holliman said.
“It was painful to go through this reductiobin force, but it was necessary to put some more moneyg this year into our clinical programs.” Jeff chairman and CEO of , said the past few monthzs have been especially His company has cut about a dozen people, or 35 percengt of its staff, this year. “The vast majority of scientific programsx that are truly the translational programs of sciencw intomedicine — that’s what the biotech industry is have essentially stalled,” Morhet said. Sincr its inception in 2003, InNexus has raisedf $17 million in venture capital and now has a commitment for $35.5 million from Royalty Pharma.
Jason Bonanza, CEO of , is lookinb for an account executive or sales administratorthis year, but he has let two or threee lower-level research assistants go in the past Bonanza founded the company in 2006. After a few yearse of experience, he started usingf some contract workers onan as-needed basis to keep overhea low. “I think more peoplew could start to sell themselves as contractores or consultants in many areas to help fill the need of while working when they want to and for what they want he said. Bob Eaton, CEO of the , said what’sz happening in Arizona is no differentfrom what’es happening to biotech firms nationwide.
He said companie s are trying to conserve as much cash as possiblesbecause it’s a very difficult time to get investment dollars. “I’ve hearsd bits and pieces about layoffs here and but I have not heard anybodhy changing their focus ortheir strategy,” Eaton “Companies right now are certainly always looking to partnefr with anybody they can partner with to try and advancs their product development.” Tucson-based , which recently began marketing its microbia l detection equipment to pharmaceutical firms and medical device did just that. Tokyo-based Yamatake bought a 70 percent stakein BioVigilant.
This deal providexs BioVigilant with the along with the engineering andmanufacturinvg resources, to pursue the multibillion-dollar environmentap monitoring market in pharmaceuticap and medical device manufacturing. Yamatake has been BioVigilant’s distributor in Japahn since 2008. Founded in November BioVigilant hasraised $14.9 milliojn from private and institutiona investors. Late last year, the company’s investors were lookinbg for an exit, said CEO Dewey Manzer. “Ij approached Yamatake to see if theywere interested, and they said they he said.
“One thingf led to another, and now Yamatake is buying the controllingh interest accompanied by a commitmenty to provide working capital for BioVigilant for the nextthree years.” BioVigilant has 27 employees and plans to add 10 in the next 12 Manzer said. The additions will be high-income jobs, includint engineering, sales, regulatory and qualitt positions. “We’re just very pleased with this and we expect that Yamatake will be a very positive corporated partnerin Arizona,” Manzer said.
“It’sx a bright spot for Tucson and all of The entire BioVigilant management team will remaibnin place, but will get additional humann resources by conducting joiny projects with Yamatake’s engineering and manufacturing Manzer said BioVigilant’s customed relationship with Yamatake was crucial for takin g their partnership to the next level. “The soonetr you establish a major customer that paves the way for you and givewyou credibility,” Manzer said. “I think at this point, we’re going to see very positive reaction from the industry that we becausenow they’re going to say we have the credibilitgy of a $2.
5 billion compang behind BioVigilant.” Jonah Shacknai, chairman and CEO of in said he hasn’t worried abouyt gaining access to the capital markets for many years because his company is sitting on half a billion dollarsz in its treasury. Founded in Medicis had a record 2008. Even though it is more than twodecaded old, it still faces some challenges. Salex have been down for the company’s Restylanew product, a nonsurgical prescription dermal filler for lines and Shacknai acknowledged the Restylane franchise has been soft becaus consumers are tightening their purse strings duringthe recession.
“We have managed expenses to compensate for the lost revenues in that he said. He said the companies that survivd are those whose management and employeesx have the willpower and passion to seethingss through. “It’s a time neverf to be proud (and) never be on a high Shacknai said. “The CEO neede to be washing dishes with everyone else to reallyydemonstrate there’s a shared commitmenr to the future, and everyone pitches in.
”
Paid family leave act introduced
http://etaphisigma.com/the-key-reason-why-eppp-examination-stress-and-anxiety-is-nothing-to-worry-about.html
Democrats in the state Senate and Assembly introduced family leavse legislation onJune 5. It’s the third-straight year that the issue has surfaced in thestate Legislature. The law would requirre businesses, no matter how many employees they to provide up to 12 weekse of paid time off a year so employee s can tendto “very ill” familuy members, newborns or newly adopted Current federal law mandatesx 12 weeks of unpaid familg leave. That law only applieas to companies with more than50 workers. To three states have enacted a paid familyleave California, Washington and New The latest version of paid famil leave in New York has 27 sponsors in the Senate—including Sen.
Neil Breslim (D-Albany), 25 other Democrats and one Sen. Thomas Morahan, of the Hudsonb Valley, who has supported such bills inthe past. Undedr the legislation, workers on family leave would be paid usinhthe state’s temporary disabilitt insurance funds. Benefits, which are now cappeds at $170 a week, would be indexede to increaseevery year, based on the average weekly wage in the The law would apply to all businessesw that participate in the temporary disabilituy system, regardless of their size. The increased benefitsx are expected to add anextrsa $1.69 per employee, per week, to a company’s disability insurance premium.
“Most people can’t afford to take unpai time from work. Paid familyy and medical leave would enabls workers to care for their family members without losing theireconomic stability,” Democrats wrote in a formak sponsor’s memo about the legislation. Democrats, and the labor-backede Working Families Party, contend that paid family leav will save businesses recruitment andretention costs, while leading to a more productive work force. “Businesses would profity from thehigher productivity, increased worker moralre and reduced absenteeism that comes from paid family the memo says.
“Joh loss means big costs for businesses in lost recruitment andtraining expenses.” In 2007 and similar paid family leave legislation died in the Republican-controllefd Senate. This is the first legislative session in 43 years where Democrats controllthe Senate. Business lobbies say they’ll be fighting the proposao once again. “We have to realize that there’ only so much we can dump on businesseds that are already in abad economy, on top of what’x already been done this session,” said Mike Elmendorf, directoe of the state chapter of the . The paid familt leave proposal isbill S.5791/A.8742. The legislative sessiomn is scheduled to end onJune 22.
Democrats in the state Senate and Assembly introduced family leavse legislation onJune 5. It’s the third-straight year that the issue has surfaced in thestate Legislature. The law would requirre businesses, no matter how many employees they to provide up to 12 weekse of paid time off a year so employee s can tendto “very ill” familuy members, newborns or newly adopted Current federal law mandatesx 12 weeks of unpaid familg leave. That law only applieas to companies with more than50 workers. To three states have enacted a paid familyleave California, Washington and New The latest version of paid famil leave in New York has 27 sponsors in the Senate—including Sen.
Neil Breslim (D-Albany), 25 other Democrats and one Sen. Thomas Morahan, of the Hudsonb Valley, who has supported such bills inthe past. Undedr the legislation, workers on family leave would be paid usinhthe state’s temporary disabilitt insurance funds. Benefits, which are now cappeds at $170 a week, would be indexede to increaseevery year, based on the average weekly wage in the The law would apply to all businessesw that participate in the temporary disabilituy system, regardless of their size. The increased benefitsx are expected to add anextrsa $1.69 per employee, per week, to a company’s disability insurance premium.
“Most people can’t afford to take unpai time from work. Paid familyy and medical leave would enabls workers to care for their family members without losing theireconomic stability,” Democrats wrote in a formak sponsor’s memo about the legislation. Democrats, and the labor-backede Working Families Party, contend that paid family leav will save businesses recruitment andretention costs, while leading to a more productive work force. “Businesses would profity from thehigher productivity, increased worker moralre and reduced absenteeism that comes from paid family the memo says.
“Joh loss means big costs for businesses in lost recruitment andtraining expenses.” In 2007 and similar paid family leave legislation died in the Republican-controllefd Senate. This is the first legislative session in 43 years where Democrats controllthe Senate. Business lobbies say they’ll be fighting the proposao once again. “We have to realize that there’ only so much we can dump on businesseds that are already in abad economy, on top of what’x already been done this session,” said Mike Elmendorf, directoe of the state chapter of the . The paid familt leave proposal isbill S.5791/A.8742. The legislative sessiomn is scheduled to end onJune 22.
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