Month: August 2021
Truck Driver Shortage Causing Consumer Prices to Rise
Truck driver shortages often increase the costs of goods and hurt the economy. Approximately 70% of all consumer goods are transported by truck and, right now, the trucking industry is in desperate need of new drivers: 60,000 to be precise. According to the American Trucking Association (“ATA”), that is the number of drivers that are
Remote Notarizations Permitted Under New Illinois Law
On July 26, 2021, SB2664 was signed into law by Governor J.B. Pritzker as Public Act 102-160. This major revision of the Illinois Notary Public Act (“INPA”) authorizes the use of both Remote Ink Notarizations (“RIN”) and Remote Online Notarizations (“RON”) in real estate transactions. The INPA sets forth the details required for the notary
Guidance for Employers and Employees on Rights and Safety with COVID-19
Guidance for Employers and Employees on Rights and Safety with COVID-19 With many workplaces inching towards a full reopening, and with the recent FDA approval of the first COVID-19 vaccine, the attorneys at Rock Fusco & Connelly, LLC, have prepared an easy-to-use cheat sheet to answer the most common questions asked by employers and employees,
COVID-19 Business Interruption Suit Can Proceed, Cook County Judge Rules
Cook County Circuit Court Judge Raymond W. Mitchell denied a motion to dismiss in a bellwether case determining whether the presence of coronavirus causes “physical loss or damage” for insurance purposes. JDS Construction Group LLC, a New York company, filed suit against Chicago-based insurer, Continental Casualty (“Continental”), over the losses from the shutdown of a
Senate Passes Massive Infrastructure Bill
Senate Passes Massive Infrastructure Bill The U.S. Senate recently passed the Infrastructure Investment & Jobs Act (“IIJA”), clearing a major hurdle for the $1 trillion measure, which would be used for federal highway, bridge, and public transportation improvements. Investment for highway programs totals 35% ($347.8B) of this bill, which will be a 24% increase from
Three Steps To Mitigate Contractual Exposures
As business relationships, supply chains, and operations evolve, contract language must continue to align with contractual obligations and insurance policy terms. Otherwise, companies can find themselves being held liable for massive uninsured losses. According to a 2020 Ponemon Institute study regarding cyber events, 59% of companies have experienced contractual exposures caused by one of their
State of New York Labor Decision to Reclassify 1099 Drivers as Independent Contractors
The New York Department of Labor issued the initial holding that Distribution Cooperative Network (“DCN”) was liable for paying tax contributions and benefits to delivery drivers, as they were classified employees. The employer appealed to the Administrative Law Judge, who overruled the initial determination and reclassified delivery drivers of cooperatives as independent contractors. The claimant
Property Tax Update
Our real estate tax team at Rock Fusco & Connelly, LLC continues to work hard fighting to keep your property tax bills as low as possible. As the 2021 appeal session progresses, we wanted to give you an update on the conclusion of the 2020 session, what to expect in 2021, and key dates to
Using Mergers and Acquisitions to Grow Your Company’s Value
This is the final installment in a three-part series Rock Fusco & Connelly, LLC will be publishing on using M&A transactions to maximize and grow your company’s value. In part one, we helped you understand EBITDA, and how to increase EBITDA and its multiplier. In part two, we addressed how to compare rates of return
4 Ways to Attract the Next Generation of Skilled Workers
Written by Michael Albercio of Assurance Agency, Ltd., one of Rock Fusco & Connelly’s trusted advisors. Attracting and retaining talent has been a challenge the industry has been faced with the last few years. The pandemic, lack of skilled labor, demand of residential construction and difficulty of recruiting a new generation hasn’t made it easy