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June 2018 Archives

The basics of Sarbanes Oxley

Company executives in Michigan and Illinois who have worked for private companies but now may be looking to switch employment to a public company or who may work for a company looking to go public will quickly learn that a very different set of oversight is involved for publicly traded companies. There are many advantages for a business to becoming public including the infusion of cash into the business that happens with an initial public offering. But, executive staff must be educated about their responsibilities and understanding Sarbanes Oxley is a good place to start.

Sexual harassment victims have rights

Those who are seeking housing in Michigan may find that they are the victims of sexual harassment. While victims can be of either gender, they are often single women with children or those who have limited housing options because of their income. Regardless of whether harassment is physical or verbal, it is illegal under the Fair Housing Act. Despite this, victims often choose not to report what has happened to them.

Evaluating corporate status and tax options

Entrepreneurs who are looking to start a new business always need to choose an operational stucture. In so doing, they also choose a corresponding tax model and when it comes to C and S corporations, the tax model can vary greatly. Many companies elect to use the S corporation structure in large part due to the tax advantages they enjoy compared to with a C corporation. However, with the new tax code in place, many companies may be re-evaluating this decision.

HUD dumps housing segregation rule

Michigan readers may be concerned to learn that the Trump administration is eliminating a rule that helps communities enforce the Fair Housing Act of 1968, or FHA. The U.S. Department of Housing and Urban Development published the decision in the federal register on May 23. The Affirmatively Furthering Fair Housing, or AFFH, rule required cities and towns to prove they had plans to reduce segregation before they could receive federal funds. Created by the Obama administration, the rule was intended to provide cities with a comprehensive tool to measure their compliance with the FHA, which has been poorly enforced since its passage. However, before scrapping it, HUD had already taken steps to delay the rule's implementation for several years, which prompted the State of New York and a group of housing activists to sue the administration.

Teachers' union and school board still at odds over new contract

Many in Detroit may summarily dismiss contract dispute cases as being petty squabbles between professional organizations. This may come from an assumption that all of these disagreements come down to a simple matter of dollars and cents (as in, both sides want more of them). Yet to fail to acknowledge the validity of the claims often made in contract disputes may be (at the same time) ignoring the very real problems being experienced by those involved. While the basis on their disputes may center on compensation and commensuration, the ultimate aims may be to simply allow them to continue to perform the services that their contracts call for. 

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