Resources

Client Alerts, News Articles, Blog Posts, & Multimedia

Everything you need to know about BMD and the industry.

Returning to Work: Forecasting the New Normal in Business

Client Alert

We cannot predict when businesses will reopen across the country. As we publish this Alert, dynamic business leaders are cooperating in comprehensive efforts to create safe work environments so that they can all re-engage the workforce.

However, we can predict the new normal in business. Some important studies were published yesterday, and the new normal in business will be facemasks for all employees, and probably all business visitors.

The scientists at the National Institutes of Health published a study yesterday in the New England Journal of Medicine addressing the question of whether the coronavirus can be “aerosolized” when people are speaking. The study advises that the coronavirus can be aerosolized and transmitted between individuals who speak in-person.

In an accompanying commentary to the study, a Harvard University biologist remarked that those aerosols from infected persons may pose a threat, “even at considerable distances and in enclosed spaces,” and identified the wearing of a masks as a prophylactic measure.

Additionally, Nature Medicine published its study yesterday finding that individuals may be infectious for two to three days before showing symptoms of Covid-19.    

What does this mean for employers?

Start sourcing facemasks now. Whether essential or non-essential, healthcare or non-healthcare, all employers will need to have facemasks for employees, and probably visitors, in order to return to new normal operations.  

When combining the studies and the commentary, it makes the current preventative measures (six-foot rule, temperature at door, sending sick employees home, etc.) look less effective than believed. Speaking can be as dangerous as coughs and sneezes. Either by governmental order, regulatory requirement, or to avoid novel claims by employees, employers will need to provide facemasks. 

We expect that additional requirements will also be issued before businesses will reopen, so it probably makes sense to start sourcing disinfectant products at the same time.

For additional information, please contact Jeffrey C. Miller, jcmiller@bmdllc.com or 216.658.2323, or any member of the L+E Team at BMD


Valley National Bank/Trulieve Loan: A Big Step Out of the Shadows

In a late December press release, Trulieve announced that it had secured a $71.5 million commercial bank loan. In addition to the amount of the loan, which may be the largest commercial bank loan to date to a cannabis company, the release prominently identified Valley Bank and featured both a quote from Valley’s Senior Vice President, John Myers, and a description of the Bank’s service platform and commitment to the cannabis industry.

The End of Non-Competes? The Impact It Will Have on the Healthcare Industry

On January 5, 2023, the Federal Trade Commission (“FTC”) announced a proposed rule that, if enacted, will ban employers from entering into non-compete clauses with workers (the “Rule”), and the Rule would void existing non-compete agreements. In their Notice, the FTC stated that if the Rule were to go into effect, they estimate the overall earnings of employees in the United States could increase by $250 billion to $296 billion per year. The Rule would also require employers to rescind non-competes that they had already entered into with their workers. For purposes of the Rule, the FTC has defined “worker” to also include any employees, interns, volunteers, and contractors.”

2022 Healthcare Recap and 2023 Healthcare Check-Up

As the country begins to return to a new “normal” following the COVID-19 pandemic, there are many healthcare rules changing on both the federal and state levels as a result. Thus, it is important for healthcare providers and their employers to be aware of these changing rules, and any implications they may have on their practice. Look back on healthcare in 2022 and find a checklist for 2023.

Direct Support Professional Retention Payments

On December 15, the Ohio Senate and House passed House Bill 45, which authorizes the Department of Developmental Disabilities (DODD), in conjunction with the county boards of developmental disabilities, to launch their initiative to issue retention payments to Direct Support Professionals (DSPs). These retention payments will be distributed quarterly to participating home and community-based waiver providers to address the workforce crisis in the direct provider sector. Governor DeWine needs to sign the Bill to begin the payments, but he is expected to do so by the end of 2022.

Real Estate Investors Position for 2023 Opportunities

Real estate investors weathered another year in a post-pandemic world, with the year closing with yet another interest rate increase coupled with both uncertainty and heightened interest carrying into 2023. Just last Wednesday, the Federal Reserve raised its benchmark interest rate 0.50 percentage points, shifting the target range to 4.25% to 4.50%. The new level is the highest the fed funds rate has been since December 2007 and marks the seventh rate hike this year. So what does this mean to investors, brokers, lenders, and others in the real estate world? Read a few perspectives below from stakeholders familiar with our BMD clients and the markets in which they do business.