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Securities & Financial News to Note : Bulletin - February 6, 2012

This bulletin is published every other week on Monday and is disseminated via electronic mail. It features brief summaries of current legal developments in the SEC/corporate, accounting/tax, banking, litigation, as well as other business and financial service areas when appropriate.

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Construction: Alert - January 30, 2012

For almost 50 years, lessors have had the ability to limit their liability for liens that arose from improvements to the leasehold made by a lessee. However, in the most recent legislative session, the Florida Legislature enacted revisions to Florida Statute § 713.10 that provide a potential pitfall for lessors by inserting a provision that may allow a contractor to lien the lessor's interest even where there is a recorded document advising of the limitation of liens.

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Labor, Employment and Benefits
Newsletter - September 2003
 
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Overtime Rules Update
 
September 25, 2003
 
Todd D. Steenson- Chicago

Earlier this year, we issued an update concerning the Department of Labor’s sweeping proposed changes to regulations implementing the overtime requirements of the Fair Labor Standards Act.  Since that update, the comment period ended June 30. The DOL received approximately 78,000 comments concerning the proposed rules, and continues to consider them in light of those comments.

The proposed changes have created a political firestorm, however,  On September 10, 2003, by a vote of 54-45, the U.S. Senate approved an amendment to an appropriations bill for the DOL that would withhold funding from the DOL to finalize parts of its proposed regulations.  This amendment would effectively bar the DOL from issuing the regulations in the proposed form. Previously, a similar amendment failed by three votes in the House.  Members of the House are considering another attempt to pass the amendment, and the issue will certainly be taken up in the House-Senate conference committee on the appropriations bill.  President Bush has vowed to veto any appropriations bill containing the Senate amendment.

Thus, the proposed regulations remain in limbo.  We will continue to update you on the status of these important regulations.

For more information, e-mail Todd Steenson at todd.steenson@hklaw.com or call toll free, 1-888-688-8500.

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