Monday, 25 June 2012

Supreme Court Rules in Favor of Glaxo in Overtime Case

The Supreme Court has ruled in favor of the pharmaceutical industry in a lawsuit that analyzed whether these companies need to pay sales representatives over time.
The Supreme Court ruled 5-4, defeating 2 former sales representatives who had filed a lawsuit against Britain's GlaxoSmithKline PLC.  The 2 employees, Michael Christopher and Frank Dunn and, had filed a class-action lawsuit, claiming compensation for overtime for approximately 10 to 20 hours that they worked weekly on an average.  Those hours were outside their average business day, and were spent mostly in visits to doctors to promote pharmaceutical products.
According to Glaxo, the sales representatives were eligible for salary as well as commissions that were based on performance, and therefore, overtime requirements do not apply to these people.  A California court ruled in favor of Glaxo, and the 2 men appealed.  Glaxo holds that these 2 men were “outside sales personnel,” and are therefore not eligible for federal overtime pay requirements.  Now the Supreme Court has also agreed with the appeals court. 
The decision comes as a disappointment to California employment lawyers, but not surprisingly, has been welcomed by the pharmaceutical industry.  The industry had been at a heavy risk of losses if the Supreme Court had ruled that sales representatives were eligible for overtime in this case. 
The decision however conflicts with another deposition earlier by the 2nd US Circuit Court of Appeals in New York.  In that case, the judge had ruled that pharmaceutical sales representatives did indeed qualify for federal overtime pay under the Fair Labor Standards Act.
The SC decision has been hailed by the Pharmaceutical Research and Manufacturers of America, which says that if the decision had gone the other way, then the industry would have been financially burdened by overtime payments to sales representatives which would have run into the billions of dollars.

Thursday, 21 June 2012

Subtle Brain Injuries Expose Veterans to Risk of PTSD

Extremely mild brain injuries that occur during combat can often expose veterans to symptoms of post-traumatic stress disorder.  These brain injuries are so mild, that they can only be detected through an ultrasensitive imaging test.
According to a new study that has been conducted by the University of Rochester Medical Center, veterans who have suffered these injuries do not always lose consciousness.  In fact, the researchers believe that such subtle brain injuries can occur even without loss of consciousness.  However, these injuries, even though subtle, have been linked to symptoms of post-traumatic stress disorder among veterans.
The researchers asked each veteran in the study about his PTSD symptoms of, as well as his exposure to blasts, and mild concussions.  In addition, the researchers measured the level of combat stress in each veteran by questioning them about the intensity of their duties during deployment, and severe combat experiences like blasts and vehicle accidents
The researchers found that out of the 52 veterans in the study, 30 had suffered at least one mild traumatic brain injury, and 60% of the veterans had been exposed to multiple blasts.  All 52 veterans in the study showed symptoms of post traumatic stress disorder.  Out of these, 15 met the formal criteria for PTSD.  The presence of PTSD symptoms was directly proportional to the amount of injury to the neurons.
California veteran benefits’ lawyers believe that the results of the study will be helpful in differentiating between symptoms of post-traumatic stress disorder and brain injury, especially when it comes to symptoms that are very similar in both of these conditions.
The US Department Of Veterans Affairs funded the study, and the results of the study have been published in the Journal of Head Trauma Rehabilitation.

Inheritance Cash Loans Are Interest Free

There are several advantages to applying for an advance on your inheritance.  One of the biggest advantages is the fact that your inheritance cash advance is entirely free of interest.
When you apply for a traditional loan, you are expected to put up with hefty interest rates.  These rates are not only substantial, but also unstable.  With a conventional loan, there may be fluctuations in interest rates that determine the amount that you have pay every month.  The loan documents also come with lots of fine print, and good luck trying to figure out what most of it means.
On the other hand, an inheritance cash advance is up front, clear and free from complications and hassles.  You know exactly what you're getting, and how much they probate cash advance company will deduct from your inheritance when the money is distributed to you.  When you receive an inheritance cash advance, you will have all details set out in writing, so that there is no confusion at the time of distribution of the estate.  You know exactly how much the company will deduct in expenses and fees from your estate.
If the probate cash advance company’s terms are not suitable to you, you do not have to sign the papers.  That means no interest-rate fluctuations, and no instability. 
There are many other advantages to taking out an advance on your inheritance.  The money can be used to eliminate many high-interest loans, like credit card loans or student loans.  These are the types of loans that pile up, and eventually force a person into bankruptcy.  In fact, credit card debt and student debt are increasingly being cited as factors in personal bankruptcies across the country.  An advance on your inheritance can help you eliminate debt.

Monday, 11 June 2012

Interest Rates, Retirement, and Housing

With interest rates for home loans at some of the lowest points in recent history (the lowest since the aftermath of World War II), many homeowners and people looking to buy homes are seeking mortgage loans. But another effect that is being observed is the delay in people retiring from their careers.
Several reports cite the survey (Wells Fargo/Gallup) that discovered a large percentage of people have decided to work longer to make up for the poor returns on their investments (low bond yields).
This cycle is interesting as it affects both the housing market and growth of jobs (less retiree relocation and hiring of new employees to replace retirees).
In areas such as San Diego, CA, with many colleges and major industries in biotechnology and government  - this is very evident. The real estate market there is very dynamic and looking at the state of refinances/loans from mortgage companies in San Diego, business are ready to help. As lenders loosen restrictions on loans, property values increase, and hiring picks up, the surge in activity will be very evident. The next cycle will cause a  rise in rates and improve the return of bonds and similar investments. The eventual apex from the trough will then start another cycle.