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In struggle to fix supply chain, small businesses fear losing out to larger companies with more spending power
mall businesses are hopeful that shipping bottlenecks may begin to ease after President Joe Biden announced an initiative in which the congested port of Los Angeles will run “24/7.” But owners and experts warn that the ports are just one part of the supply chain logjam. “With the holidays coming up, you might be wondering if gifts you plan to buy will arrive on time,” Biden said at a news conference Wednesday. “Today we have some good news. We’re going to help speed up the delivery of goods all across America. “Our goal is not only to get through this
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Working for companies owned by well-heeled private-equity firms can mean lower wages for employees
Alma Jordan, a certified nursing assistant at the Marcella Center nursing home in Burlington, New Jersey, respected the residents she cared for there over the past 16 years. They were like family, she said, and she believes they’ve appreciated her attentiveness, especially during Covid-19. Not so, the nursing home’s new owner, Jordan said. After Complete Care Management, the largest for-profit nursing home operator in New Jersey, took over the 150-bed Marcella Center in April, it slashed worker benefits, she and other employees as well as a representative from their union told NBC News. Amid the pandemic, Jordan’s paid holidays were
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Companies Want FASB to Focus on Crypto, ESG-Related Rule Making
Executives at large public companies want the Financial Accounting Standards Board to write rules on how to treat cryptocurrency assets and transactions related to environmental, social and governance issues. The U.S. accounting standard setter in June launched an agenda consultation, its first in five years, seeking the public’s views on what its long-term priorities should be. Depending on the feedback, the FASB could consider new accounting projects. The board in the coming months expects to discuss its staff’s summary of the public’s responses, which were due late last month, a FASB spokeswoman said. Companies—alongside other stakeholders such as investors, auditors
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Revenue, lease accounting still challenge private companies
Revenue recognition and lease accounting remain a challenge for private companies after a one-year, pandemic-related delay in effective dates provided financial statement preparers some relief. Changes to accounting for revenue under Accounting Standards Update (ASU) 2014-09, Revenue From Contracts With Customers (Topic 606), and leases under ASU 2016-02, Leases (Topic 842), have been on private companies’ radar for many years. In June 2020, FASB deferred the effective dates of these standards for certain companies by one year, to provide relief as a result of the COVID-19 pandemic, by issuing ASU 2020-05. As a result of ASU 2020-05, certain
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Companies eye financial penalties for unvaccinated workers
Companies are considering more aggressive alternatives to vaccine mandates after Delta Air Lines announced last week that it would implement a $200 monthly surcharge on unvaccinated employees enrolled in the company’s health care plan. Delta’s announcement intrigued firms that are eyeing stronger incentives to get employees vaccinated. Those companies view the surcharge approach as a way to boost vaccinations without having to lay off workers or take other disciplinary action against those who refuse to get the shot. But some employers are concerned that hiking health care premiums or imposing other financial penalties could create administrative and regulatory burdens, and
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Largest Home Insurance Companies | Bankrate
Insurance companies come in all sizes, from the small, local companies offering coverage in just one or two states, to the largest property and casualty insurers offering coverage across the U.S. Large insurance companies tend to have 24/7 claims and customer service available, a vast network of insurance agents and the ability to provide lower rates as risk can be distributed across multiple states. However, small home insurance companies may offer specialized and local coverage options, personalized service and could offer better rates for your situation, with less rate increases than their larger competitors. While your circumstances ultimately dictate what
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Here are the companies mandating vaccines for all or some employees
As the highly contagious delta variant of the coronavirus continues to strike communities nationwide, companies are stepping up their vaccine requirements, mandating that some or all employees get vaccinated or provide proof of vaccination. After the Food and Drug Administration granted full approval to Pfizer’s Covid vaccine on Monday, more companies are expected to mandate that employees be vaccinated. Here is a list of the companies who have already announced their vaccination plans: Amtrak The railroad service is requiring all of its 17,500 employees to be fully vaccinated by Nov. 1 or submit to weekly Covid testing, CEO Bill Flynn
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Delaware Insurance Companies Fined 1.3 Million Dollars For Denying Mental Health Claims
DOVER, DE- Health insurance companies in Delaware Monday were hit with 1.3 million dollars in fines for refusing coverage on mental health drugs and services. The fine came on the 31st anniversary of the Americans With Disabilities Act, which ensured disabled people in the US would not receive poorer quality of life care and service as a result of their disability. The fines were part of a nearly two-year-long Delaware Department of Insurance market conduct investigation intocomplaints from policyholders who reported their insurance for unequal coverage of mental health medication and services. “We knew these violations were occurring
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