Factory Five Racing was founded in 1995. Over the years they have grown from a start-up business in a small garage to become the world's largest manufacturer of "build-it-yourself" component car kits. They employ a full-time crew of about 40 people, and are located in Wareham, Massachusetts (about an hour south of Boston). They make their products right here in the USA, in the heart of New England where American manufacturing was born. Read More..
Fred and Danny Magnanimi grew up watching their father create beautiful, handcrafted jewelry in the family's Cranston, RI jewelry manufacturing business. When the boys grew up, Fred moved to New York and began working on Wall Street as an investment banker, while younger brother Danny, still enamored by the family business, stayed home. Increased competition from overseas businesses created significant challenges for the business, but Danny was confident he could find a way for the family business to evolve and thrive. This was his mission, this was his passion. Read More..
Yesterday, the House of Representatives passed a bill to delay the Department of Labor’s upcoming increase to the amount of salary an employer needs to pay in order to be eligible to classify a worker as exempt from overtime. The final rule, which was announced on May 18, 2016, sets the salary threshold at $47,476 annually effective December 1st. The House has now moved to push the compliance deadline to June 1, 2017. Nothing will happen unless the Senate votes accordingly, so in the meantime businesses should continue to assume the new rule will go into effect in December and stay on course for compliance. Stay tuned to see how the Senate votes on this legislation.