Member News

28 Oct
Member News

IIE Seeking Partner Organizations for Third Round of EducationUSA Leadership Institutes

The Institute of International Education, on behalf of the U.S. Department of State’s Bureau of Educational and Cultural Affairs’ EducationUSA Advising Network, invites accredited U.S. post-secondary educational institutions (non-profit and for-profit), U.S. higher education associations, university systems, consortia, and qualified entities that meet provisions in IRS section 26 USC 501(c)(3) to submit proposals to be a Partner Organization for the third round of EducationUSA Leadership Institutes. Partner Organizations will develop and manage one of three EducationUSA Leadership Institutes for...

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27 Oct
Member News, New York Related News

New York City Issues Fair Chance Act Notice Form for Criminal Background Checks

As we previously reported in July and June, New York City recently passed the Fair Chance Act (FCA), which becomes effective onTuesday, October 27, 2015, and is applicable to criminal background checks. Among other requirements, the FCA prohibits employers from inquiring about or making statements concerning criminal history, prior to a conditional offer of employment, including the following: asking an applicant* questions about his or her criminal record; searching public records on an applicant’s* criminal record; having an applicant* complete background check disclosure and authorization forms;...

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27 Oct
Member News

Valuation of Social Media Data: What’s a Like/Follower/Retweet Worth?

Social media is omnipresent in today’s society. Everywhere you look, Facebook, Twitter, Instagram, YouTube, and many other services offer the ability to share photos, links, videos, tweets, and posts. The proliferation and growth of these communication mediums have allowed everyone, from individuals to multinational companies, to use them as a way to spread their message. Of particular interest in the business world is how to use these social media tools to gain market share and to attract and engage consumers....

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26 Oct
Member News

Trading Alert: First StuyTown, Now Bush Terminal

Time to trade GCCFC 2007-GG11 and CGCMT 2008-C7 exceedingly carefully. According to an article from The Real Deal just moments ago, the 16-building, six-million square-foot property known as Bush Terminal has been refinanced by the Bank of China and SL Green. The existing loan, which is split between the two aforementioned deals, was modified and bifurcated in 2012. The original $300 million note was split into a $190 million A note and a $100 million Hope note. The loan has 23 months to run and can prepay freely now. By...

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21 Oct
Member News

CPSC Clarified requirements for testing of dyed textile and components testing

In a Federal Register notice dated October 14, 2015, the Consumer Product Safety Commission (“CPSC”) published a final rule amending the regulations to clarify lead content testing requirements for dyed textiles in children’s products as well as the use of component part testing.  The CPSC found that some companies were misinterpreting these requirements resulting in unnecessary third-party testing burdens and costs. The final rule contains the following amendments: Children’s textile products subject to testing:  The rule clarifies that dyed textiles are not...

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21 Oct
Member News

DS-Concept Provides $1 Million Export Factoring Facility to German Components Manufacturer

DS-Concept Factoring, a global commercial finance company specializing in international non-recourse factoring, has provided a $1 million export accounts receivable facility to a components manufacturer in Germany. The client, a manufacturer of machinery components for power plants and energy suppliers, anticipates an annual factored volume of $10MM-$12MM. With this new export factoring facility in place, the client will continue to focus on their growing exports within the European Union. The DS-Concept Group maintains a network of offices and affiliates all over the world, including USA,...

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20 Oct
Member News

TREPP: Trading Alert: StuyTown and Peter Cooper Village Sold

According to a Wall Street Journal article and a Barclays note, the long saga of StuyTown and Peter Cooper Village is coming to an end. Blackstone and a partner have apparently finalized a deal to purchase the property for $5.3 billion. The payoff could come as early as the November remittance. Based on the sale price, Barclays is projecting no bond loss, a repayment of all ASERs, advances, and fees, as well as a $172 million prepayment fee. On top...

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13 Oct
Member News

New IIE Report: “Generation Study Abroad: Year One Impact”

Released at the IIE Summit on Generation Study Abroad, this impact report spotlights examples of Generation Study Abroad commitment partners who have made noteworthy progress to date and details what they have committed to accomplish to help double the number of U.S. students going abroad by the end of the decade. Highlights from the report: •  More than 600 commitment partners have pledged to expand study abroad opportunities. •  Partners have committed $185 million in financial support over the next five years. •...

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13 Oct
Member News

When Transferring Employees to the U.S., Foreign Employers Should Consider Impact if Proposed Changes to Overtime Exemption Are Approved

The Department of Labor (“DOL”) proposed a revision to the “white collar” overtime exemption rule.  As explained by Littler when it testified before the House Subcommittee, “the proposed white collar exemptions are unprecedented in the 77-year history.”  Even after this week's hearing, it is unclear whether the rule will be implemented in its current version or whether additional changes will be made.  The proposed rule has been published for more than 60 days and therefore DOL has authority to...

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13 Oct
Member News

European Court Clarifies Criteria For The Lawfulness Of Rebate Schemes Under EU Competition Law

The judgment of 6 October 2015 in case C-23/14 marks the second time that the European Court of Justice (“ECJ”) had to consider the business practices of the former state-owned operator of the Danish postal service, Post Danmark. While the first judgment mainly concerned the predatory pricing policy of the former monopolist, the ECJ discusses in the present judgment the lawfulness of a rebate scheme under EU competition law. Rebate schemes Rebate schemes are common and widely spread in commercial life....

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