In an attempt to attract greater foreign investment to Australia the Federal Government has recently doubled the current foreign investment thresholds.

Current legislation dictates that foreign investors looking to purchase a share of 15% or more interest in an asset valued at $100 million or more must apply to the Foreign Investment Review Board (FIRB) for approval. Additionally, there are other different thresholds that apply for offshore takeovers, US investors and US offshore takeovers.

With the proposed changes to the current application and screening processes, it is expected that the number of foreign investors who will be required to seek permission from the Federal Government to purchase assets in Australia will decrease by up to 20% of current levels.

On announcing the legislation review, Treasurer Wayne Swan, acknowledged that the existing criteria of FIRB’s screening process could often result in additional compliance costs for applicants. This could both directly, and indirectly, result in making the Australian economy a less attractive platform for foreign investors.

In the current global economic climate it is important to take steps that ensure not only consistent and continual levels of overseas investment but to introduce new ideas and practices, such as increasing the currently threshold levels, that seek to increase foreign investment in our country.

As a result of the changes it is estimated that one in five business applications will no longer require screening by FIRB.

As you can see from the above table, not only have the existing thresholds been significantly increased but the changes see the current requirement to seek permission from the FIRB for foreign investors who are looking to establish a business in Australia that is valued at over $10 million to, has been abolished.

Seemingly prompted by recent predictions of a drop in foreign investment across the globe, these changes are intended to reorganise the country’s foreign investment processes in an attempt to increase the country’s competitiveness and perception in the world economic community as an attractive place to invest.

It is obvious that global capital markets are not exactly in a state of rapid growth at the moment. In light of that, it is important that our economy takes action to encourage greater levels of cross border investment and attempt to further stimulate the economic upturn. It is interesting to note that Australia is one of only six OECD countries to have actively effected changes to their foreign investment policies.

It is understood that changes to foreign investment will not have an immediate overnight effect. However, the Government remains positive that this action will play its part in the economic recovery of our country as part of the global economic community.

If you have further questions regarding the changes to Australia’s foreign investment restrictions or for advice regarding any investment issues that you may have please contact The Quinn Group on 1300 QUINNS or click here to submit an online inquiry.

The Quinn Group is an integrated, accounting, legal, and financial planning practice offering expert advice to help you achieve your business and personal goals. With more than 15 years’ professional experience, we are committed to building long-lasting relationships with our clients by providing superior service in a timely and cost-effective manner. For more free advice please visit Lawyers.

As the uncertainty of the current economic crisis wages on, union representation may seem more appealing than ever to workers who are concerned about job security, wages, and benefits. The truth of the matter is, unions target companies that are profitable. While many of these companies have had to make changes to remain competitive, they are still in the sights of unions. However, when they cannot seem to make headway into well-run companies, unions will vilify a company working to maintain profitability by engaging in orchestrated corporate campaigns.

Most employees do not realize how the presence of a union and even their external activities can negatively impact the business – and their job security especially in today’s competitive and recovering market. Now is the time for companies to proactively take measures to protect their company and their employees by remaining union free. The cost of doing nothing is too great a risk.

Some research, such as the work done by John E. Dinardo and David Lee at the National Bureau of Economic Research, has led many to believe that increased wages and benefits have an insignificant impact on the market value of an organization. If this is the case, why did unionization play a significant role in the automobile industry crisis? The United Auto Workers (UAW) still preach to everyone that will listen about “The Union Advantage in Pay and Benefits”–that unionized workers receive higher wages and more benefits than non-union workers.

A March 2009 study released by the Bureau of Labor Statistics supports these claims. The study found that union-free employers paid an average of $19.06 per hour (wages and salary), while union employers in the same sector were obligated to $22.76 per hour. Additionally, unionized workers received $13.82 per hour in benefits, whereas union-free workers received $7.33 per hour in benefits. Of course, the argument could be made that union dues are not accounted for in this study, but does any of that matter if the company – or entire industry – collapses under the strain?

Why do so many organizations, such as Wal-Mart, FedEx, Citigroup, Associated Builders and Contractors, even the US Chamber of Commerce, take such a strong stance against unionization? In his landmark text, “Unions Are Not Inevitable!,” author Lloyd M. Field explained, referencing multiple studies conducted in the 5-year period following unionization. The findings, according to Field, were that newly organized company’s operating costs increased by more than 25 percent of their gross payroll and benefit costs. In his book, Field provides an example of a company with a gross payroll of $18 million, for whom unionization would then result in $4.5 million in additional annual operating costs.

Jim Gray, president of Jim Gray Consultants, a firm that specializes in helping business leaders with human resources and business transitioning issues, found that businesses could expect to spend approximately $400,000 to more than $2,000,000 on a single unionization campaign. These costs includes items such as attorney’s fees, travel expenses, meetings with employees, video presentations, lost productivity, and other items that are often hard to quantify but can add up to thousands – even millions – lost.

As far as annual expenses for an organization with a union presence, Gray estimates that the total additional operating costs (over a union-free company) range from $900,000 for a company with 100 employees to more than $4,000,000 for a company with as many as 2000 employees. These amounts do not include wages and benefits, but do include items such as additional training for managers, additional Human Resources support, attorney’s fees, cost of arbitrations and handling of grievances, plus negotiations, lost productivity, strike planning, security, and lost sales margin, as well as a number of other items.

Extending the research out to 10 years post-unionization, the Employment Policy Foundation (EPF) stated that a unionized company’s output per employee would be 2.4% less than a union-free competitor, if that unionized company experienced just a .25 percent reduction in productivity. Their conclusion was that unless the unionized company could sell their product at a higher price or other cost savings could be attained, the unionized company is likely to see 14 percent less in profits per labor hour than their non-union competitor.

Research by David Lee and Alexandre Mas, which used a similar methodology to Lee’s earlier study with DiNardo, found that unionization reduced an organization’s market value by approximately $40,500 per worker eligible to vote in a unionizing campaign.

In his book, “Union Proof – Creating Your Successful Union Free Strategy,” author Peter J. Bergeron notes that the cost of operating a unionized organization is estimated to be 25 to 35 percent higher than a union-free organization. This is because unionized organizations lead to larger human resources staff, increased legal counsel, increased involvement with regulatory agencies, loss of flexibility, and increased labor costs due to rules on overtime, grievances and arbitration processing, and many other requirements.

With extensive operational costs and potential loss of market value, organizations must be diligent in their strategies to avoid unionization. An integral part of any successful union avoidance strategy is communication with employees. As noted by Bergeron, “Companies that are afraid of the ‘U-word’ are the unions easiest targets. If your employees aren’t knowledgeable about unions, make sure that you are the one to provide that information – otherwise, the union will do it for you, and not in a good way. Employers need to provide useful information. In short, employees need to see current, relevant factual information. They need to know about the things that can affect them, and they need to know that upper management really is aware of the challenges they face on a daily basis.”

The bottom line is that unionization can have a serious impact on the agility and profitability of any company. It’s vital that every union-free employer takes preventive action now – building relationships with employees to let them know how much they are valued, not just for their output, but for their skills and input as well. Employers should consider it their responsibility to educate and inform employees of the reality of union representation. Times are hard; stay union-free to avoid making them harder.

About the Author:
Walter Orechwa is Owner and CEO of Projections, Inc, in Atlanta. Projections has been helping employers communicate with their workforce since 1979, and today offers video, websites and eLearning on a variety of custom topics, such as Orientation, Labor Relations, Compliance, Benefits, and more. For more information, visit the Projections website at http://www.ProjectionsInc.com.

If you’ve been victimized in the work place, you may very well feel alone and helpless. When times are tough as they are now, you may feel grateful to have any job at all and hesitate to make waves and risk losing your position. Work place crimes are some of the most intimidating events imaginable, especially if you are being victimized by one of your superiors. However, you should know that there are great labor lawyers out there who can help you to correct a situation, handle disputes, or receive compensation if you’ve been discriminated against. Here’s how to choose the right labor lawyer for you.

Where to Look

The internet is always a great place to start. There is always more information contained on a website than you could ever hope to find in a Yellow Pages advertisement. Enter the words “labor lawyer” along with your state or city in a search engine and see what comes up. Visit each law firm’s web site and see what they have to offer.

What to Look For

If you have a leaky pipe in your home, it doesn’t make sense to call in a carpenter to fix it. Just as all contractors are not alike, not all lawyers are alike. When it comes to resolving problems in the workplace, you don’t want to use a family law attorney or a lawyer who “specializes” in a variety of different kinds of law: you want a labor attorney.

The focus of an excellent attorney’s practice will be labor and labor alone. Within this category, the firm should be experienced in:

– Age Discrimination
— Gender Discrimination
— Race Discrimination
— Disability Discrimination
— Religious Discrimination
— Retaliation
— Whistleblower
— Family Medical Leave Act
— And a host of other work-related areas including wrongful discharge and breach of contract.

What to Do Next

Once you have a list of the best lawyers in town, it’s time to do some additional research. You may consider asking friends, coworkers, and family members if they have had any experience with any of the lawyers on your list. A good reference from a trusted person is a great place to start. You will also want to check all of the lawyers’ status with the Bar Association in your state.

The Final Step

Once you have narrowed your list further, set up consultations with each attorney and get a feel for him and his office. Are they solicitous of your needs? Do they return your phone calls promptly? Do you like the lawyer’s personality and feel he is someone you can trust? It is essential that you feel comfortable with the labor lawyer of your choice.

If you think you’ve been in victimized in the workplace, know that you are never alone: choose your labor lawyer carefully and he will do everything possible to see that justice is carried out in your behalf.

Rosenberg Law (http://www.rosenberglaw.com/) is a texas labor lawyer. Art Gib is a freelance writer.

As the old adage states, “Fail to plan and you will plan to fail”. Whilst this may seem a little worn out it is still very relevant and true, particularly when it comes to business. For most business owners their business is a result of many years of hard work and dedication. But what happens if you are suddenly unable to turn up to work anymore, or it has come time for retirement? What will happen to your business then? It is not necessarily a pleasant thing to think about, much like people shy away from making or updating a Will, but the last thing you want is for those years of hard work to all come to a grinding halt because you did not consider and implement a business succession plan.

Business succession planning refers to assessing, devising and implementing “exit strategies” for the business owner or owners. This can be for when there is an unexpected need for a new owner – such as in the case of death, disability or significant trauma – or it can also be utilised in relation to planning for the future, such as the business owner/s going into retirement, passing the business on to family member or selling it to a completely unrelated party.

When implemented correctly, business succession plan can assist you to:
1. Address the issues of when and how the changes to new ownership and management will occur, and
2. Manage your business to have an improved chance of survival when the transition to new ownership or management takes place.

It is important to differentiate between business succession planning and key person insurance as the two concepts are often confused. Business succession planning is generally concerned with the more logistical and day-to-day implications to the business should the owner not be around. This includes considering who will manage the operations and/or be the new owner and how would the succession impact the spouse or beneficiary of the exiting party. Essentially a risk management strategy, business succession planning should also involve any other entities that are operated, managed or owned by you or your business.

Key Person Insurance exists to protect the business against risks that it may be exposed to should the “key person” (or persons) suddenly exit the business. A key person in this context is considered to be a business owner, principal, manager or sales executive. These people are valuable in the business as they generate income and profit and they may generate capital cost for re-training or replacement. Key Person Insurance is concerned with the direct and immediate effects to the financial state of the business such as revenue and profit. It considers, and seeks to formulate answers to questions such as; if the key person is no longer around what would be the effect on revenue and profit? Would the business be able to continue trading? Could it pay the necessary bills and other costs?

It is extremely important to have plans in place that will protect not only your lifestyle interests and needs but also your intentions for your business. It is never too early to start planning for the future, so why not contact the professionals at The Quinn Group to find out more about a tailored business succession plan for your business.

The Quinn Group are able to provide business owners with personalised advice on securing the future of their business. For more information on succession planning for your business, contact us on 1300 QUINN or click here to submit an online enquiry.

The Quinn Group is an integrated, accounting, legal, and financial planning practice offering expert advice to help you achieve your business and personal goals. With more than 15 years’ professional experience, we are committed to building long-lasting relationships with our clients by providing superior service in a timely and cost-effective manner. For more free advice please visit Lawyers.

Many individuals do not know everything they should know about fair labor practices and work in a place where labor laws are violated everyday. Knowing the truth about fair labor practices will ensure that you are receiving the right compensation for the work that you do as well as the right treatment from those above you in your work place. There are a number of ways in which employers will attempt to get around fair labor practices and employees should know that it is in no way right for an employer to do this. If you don’t already know what your rights are in the workplace you should do some research fast so that you can start being treated fairly at your job.

One common violation in the work place has to do with overtime hours and the amount of pay that you are supposed to receive if you work overtime. Almost all employers are required to pay time and a half for all hours worked above the 40 hour work week. Some of the ways in which employers will try to get around this are by making employees work overtime hours off the clock or by calling such overtime mandatory and refusing to pay the proper compensation for working such additional hours. If you are working more than 40 hours a week and not receiving time and a half pay for it you should talk to your employer or somebody outside of the job immediately. Chances are you work hard for your employer and they should show their appreciation by paying you the way that they are supposed to.

Another common violation occurs often in restaurants. Employers paying servers or waiters have the option of paying such employees a lower minimum wage due to the absent amount being replaced by tip money. The problem with this is that some employers don’t allow serving employees to keep all of their tip money. Some employers require servers to split tip money with other employees such as bar tenders, bus boys, or dish washers and in other cases employers will make serving employees work for only tip money. Both of these situations are in violation of the Fair Labor Standards Act and should immediately be reported. It is unlawful for an employer to take advantage of their employees in order better their own personal situation. Employees should not stand for this. If you are in this situation you should contact your local labor board and alert them to your employers actions.

Finally, another common violation is not giving employees proper breaks. Many businesses or establishments are required to give their workers half hour breaks if they work 8 hours or more and 5 – 20 minutes breaks for those that work less than 8 hours. In some cases employers are even required to pay for certain breaks. You should find out what the guidelines are for your particular job so that you can be sure you’re being treated fairly. No employee deserves to work in conditions any less than fair so if you are do something about it right away.

Matt Hosty is a successful webmaster and owner of popular and comprehensive Business Gift Baskets web site. For more article and resource on Thank You Gift Baskets visit this Gift Basket for Spa site.