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I hope our readers are staying healthy and optimistic as the pandemic continues through this tumultuous year of 2020. As a result of the work style adjustments we were obligated to make in March, I find myself wondering which of these changes might become permanent as we transition toward the “new normal”.
|Are You Making Your Temporary Remote Work Style Permanent?
Working from Home Forever
One of the most significant shifts made by those fortunate enough to continue with their employment was the change in workplace from an office to a home setting. Many companies successfully forged a way to make it work, and some now are even making the transition permanent, including such well-known names as:
These new circumstances are hardly limited to large employers. Many small and mid-sized companies, including several collection agencies and collection law firms, are also continuing to maintain significant segments of their workforce in a work-from-home situation. For some in our industry, this transition is producing huge savings on rent, insurance, utilities, and other costs associated with having a centralized office location.
- JP Morgan
- Groupe PSA (non-production staff)
The New Quarantine Routine
While some people are continuing to work from home out of necessity, it seems that many are making the choice voluntarily. For this portion of the work population that may be working extensively at home for the first time, they may have discovered that they are:
During times of crisis, necessity is the mother of invention. I would bet there are many instances where working from home has shown a better and more creative way to do things.
- Able to manage both family and career obligations more effectively
- Speaking to colleagues more often via phone or video teleconferencing
- Becoming more physically active during the workday by taking walks or exercising in between work assignments
- Developing better habits of hydration, eating, and sleeping
Please let us know how this conversion to remote work has affected you and your business, and what you foresee happening down the road.
Thomas W. Hamilton
| || INDUSTRY ARTICLES & INFORMATION|
It’s likely everyone’s least favorite part about going to the airport, but security screening is a necessity. How much do you know about the TSA and its rules?
Despite a 30% reduction in funding and staff allocated to tax enforcement since 2010, the IRS received high marks for its efforts cracking down on tax refund fraud and identity theft, according to a new audit from the Treasury Inspector General for Tax Administration. By deploying a layered approach that combines new software, public-private partnerships and innovative pilot programs, the IRS was able to save billions of dollars from ending up in the hands of criminals and fraudsters.
In the 10 years since the passage of the Dodd-Frank Act, the U.S. fully recovered from the economic crisis that inspired its creation and enjoyed the longest bull market in history. A decade on, though, the U.S. finds itself in a new recession with a weakened version of Dodd-Frank. The financial crisis of 2007-2008 was one of the worst economic disasters in modern U.S. history, and it was in large part caused by bad behavior at banks. The Dodd-Frank Act was created in an attempt to keep anything similar from happening again. Here’s what you need to know about the events that led to the creation of this important financial act and how it’s changed over the past 10 years.
In the weeks and months since COVID-19 effectively brought many sectors of the U.S. economy to a screeching halt, numerous major retailers, recreation and travel companies, grocery chains and restaurants have filed for bankruptcy, in addition to an untold number of small businesses and individuals in economic distress.
Most analysts and industry professionals believe that the filings to date are just the tip of the iceberg. Companies and individuals considering bankruptcy, or those already in bankruptcy, must be mindful of one its central tenets: transparency.
Here’s a big TCPA ruling for debt collectors and servicers– and a bit of a downer for everyone else. The Court in Mosley v. General Revenue Corp., Civil Action No. 1:20-cv-01012-JES-JEH, 2020 U.S. Dist. LEXIS 127055 (C.D. Ill. July 20, 2020) granted a debt collection defendant’s motion to dismiss a TCPA claim at the pleadings stage reasoning that it is simply not plausible the Defendant used a random or sequential number generator to make the challenged calls. And while that’s great news — the ruling contains a bit of a curveball for other callers hoping to leverage Gadelhak at the pleadings stage.
If you’ve ever found yourself swimming in a sea of debt, you may have considered filing bankruptcy, which relieves the burden of insurmountable debt for many people. In the U.S., the federal court system grants this relief to petitioners under laws enacted by Congress, collectively called the U.S. Bankruptcy Code. The Code is divided into chapters, some of which lend their chapter numbers to the type of bankruptcy filing they describe, such as Chapter 7 and Chapter 11. But Chapter 5 is not a type of bankruptcy you can file; it’s simply one of the chapters in the Code that defines procedural guidelines for debtors and creditors (including creditors' estates).
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Your best teacher is your last mistake.
Amazon employees spend two days every two years working at the customer service desk. Even the CEO does that! This is to help all workers understand the customer service process.
The world’s largest package delivery company, UPS, was founded by two teenagers with a bicycle and $100 borrowed from a friend.
If you have $10 in your pocket and have no debt, you are in a better financial position than 25% of the American population.
The red and white Coca-Cola logo is recognized by 94% of the world’s population.
In 2012, the 100 richest people in the world earned enough money to end world poverty four times over.
Candy Crush brings in a reported $633,000 a day in revenue.
Samsung accounts for 20% of Korea’s gross domestic product.
Gambling generates more revenue than movies, spectator sports, theme parks, cruise ships, and recorded music combined.
Starbucks spends more on health care insurance for its employees ($300 million) than on coffee.
The most productive day of the workweek is Tuesday.
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