Payday Loans VMR Fri, 24 Jun 2022 02:28:26 +0000 en-US hourly 1 Payday Loans VMR 32 32 Globalstar’s Advanced Leading Platform for Satellite Asset Tracking and Telematics Data – SatNews Fri, 24 Jun 2022 02:28:26 +0000

By defining intelligent data at the edge, users send only the data they need through the highly reliable Globalstar LEO satellite network to the customer’s endpoint, dramatically reducing transmission costs.

Globalstar, Inc., a provider of mobile satellite services and connectivity, introduced Realm Enablement Suite, a portfolio of satellite-based asset tracking hardware and software solutions including a powerful application enablement platform for processing intelligent data at the edge. With Realm, partners can accelerate new solutions to market with AI-enabled applications that generate an advanced level of telematics data. By defining intelligent data at the edge, users send only the data they need through the highly reliable Globalstar LEO satellite network to the customer’s endpoint, dramatically reducing transmission costs.

The Realm Enablement Suite includes Integrity 150, the first ready-to-deploy, solar-powered satellite asset tracker with app enablement platform; the ST150M satellite modem module which greatly simplifies product development; and the Realm Application Enablement Platform, offering tools and a comprehensive library to quickly access and develop AI-enabled applications at the edge for vertical-specific solutions.

“This latest innovation from Globalstar represents an ongoing commitment to IoT as a mainstay of core business. With Realm Enablement Suite, customers have the flexibility and agility they need to optimize data from their tracking devices and edge sensors,” said Dave Kagan, CEO of Globalstar. “Generating intelligent data at the edge to deliver it to the customer endpoint makes all the difference in transmission efficiency and operational performance.”

Realm Enablement Suite includes:

  • Integrity 150 Satellite Solar Asset Tracker offers a durable, maintenance-free property for markets such as transportation, energy, construction, agriculture, forestry and government agencies. Featuring Globalstar’s low power consumption design, provides the longest battery life and battery life available. A GPS receiver, accelerometer, Arm processor on Nordic Semiconductor’s nRF5xxx SoC, standard and customizable messaging capability, sabotage detection, and Bluetooth BLE5 connectivity for a wide variety of sensors are built into the product. Its flash memory provides 8MB of storage for application data and firmware updates.
  • ST150M satellite modem module helps partners create new products in a fraction of the normal development time and cost. The module includes a GPS receiver, an accelerometer, an Arm processor on Nordic’s nRF5xxx SoC, an 8MB external flash memory, an integrated voltage regulator and a BLE transceiver. Its low-power architecture allows integrators to minimize battery requirements. The ST150 Development Kit provides an ST150M module with an Arduino Uno Rev3 form factor and satellite and GPS patch antennas, the fastest way to develop and test technology designs before committing them to hardware.
  • Domain Activation Application Platform is the key to unlocking the limitless capabilities of field devices, reducing hundreds of hours of development time for new products and AI-enabled applications at the edge. The low-code edge platform lowers the barrier of entry for partners developing custom applications and solutions. The modular software includes a unified API for rapid application development and easy management of all hardware, platform-specific and value-added features. This includes the Globalstar BLE library and the ela Innovation BLE (Bluetooth Low Energy) sensor libraries. The platform provides an ongoing application development ecosystem as innovative solutions are added by Globalstar and shared by developers.

“The end-to-end design of the new Globalstar Realm Enablement Suite ecosystem removes technology barriers to cost-effective innovation in the tracking and industrial IoT space,” said David Haight, vice president of IoT at Globalstar. . “Realm delivers greater speed and lower cost for both development and deployment by providing the flexibility to innovate with the power to host applications and process data on edge devices for faster action and improved performance. The Realm Enablement Suite is what our partners around the world have asked us for.

Sheriff’s office announces ‘greater accountability’, ‘more robust’ record keeping along the way • Georgia Virtue Thu, 23 Jun 2022 16:34:36 +0000

Following a host of headlines regarding the sheriff’s office accounting and record keeping, Burke County Sheriff Alfonzo Williams said “more robust” practices are on the way.

Over the past two weeks, the Burke County Sheriff’s Office has come under increased scrutiny following a story in the local newspaper, The true citizen, on June 7 regarding supposedly “hidden” grants in the possession of the agency. At a subsequent press conference held by the sheriff, Williams vehemently denied the allegations, calling the article “bullshit” and “reckless.” Williams explained that there was more to the story than what is portrayed in the article.

Following a public records request, Georgian Virtue published an article on June 16, which detailed the lack of credit card statements and the lack of itemized receipts for over $40,000 in expenses. TGV described a host of record retention policies that were not followed by BCSO, even though the office has full discretion over the use of funds, as well as issues with the mixing of funds from another BCSO grant. the local housing authority.

In this week’s edition of The true citizen, the sheriff released a statement about “spending issues.” Specifically, Williams said:

“[T]his experience leads us to review our record keeping practices and do it in a more robust way. We will retain original receipts and related documentation more strictly….[W]We envision greater accountability to reassure our citizens that we are operating in a fiscally responsible manner and within proper guidelines.

The statement did not otherwise delve into the details of the reforms or the $40,000 spent from September 2021 to May 2022, but it did highlight a number of other matters of public concern.

Journalist Ben Roberts of The true citizen however, did not mince words in an op-ed he wrote about the events as they unfolded. In a separate column he wrote:

“[Williams’] His arrogance and, frankly, ignorance of the law has thus far cost Burke County taxpayers a few hundred thousand dollars in legal fees. His latest antics could cost us more. Burke County taxpayers should demand answers… The commissioners should hold the sheriff accountable. And Williams should be embarrassed. He could also start looking for a criminal lawyer, in case the Feds or the GBI come up with their own set of questions. (You can read the rest here if you have a subscriptionnot)

Williams’ statement as published in the newspaper is below in full.

Analysis of the recent OIG advisory opinion on the employment of excluded people | Arnall Golden Gregory LLP Wed, 22 Jun 2022 18:32:52 +0000

The Department of Health and Human Services, Office of the Inspector General (OIG) recently issued a favorable advisory opinion, OIG Advisory Opinion No. 22-11 (the “Opinion”), analyzing the proposed employment of a person excluded from federal health care programs. to perform marketing functions related to workers’ compensation (WC) programs (the “Proposed Arrangement”). Plaintiff, a group medical practice, asked whether the proposed arrangement would be grounds for sanctions under Section 1128A(a)(6) of the Social Security Act (the “Act”), 42 USC § 1320a-7a(a)(6). The OIG concluded that although the proposed use would present a significant risk of non-compliance to the claimant, the OIG would not impose any sanctions under the law in connection with the proposed arrangement.

The advisory opinion. According to the facts presented, the Applicant is a medical group specializing in pain management. While the majority of Plaintiff’s patient treatment is covered by WC programs that are not federal healthcare programs, Plaintiff also processes and submits claims for items and services provided to WC program beneficiaries. federal health.

In 2016, a licensed chiropractor (the “excluded person”) pleaded guilty to conspiracy to receive illegal kickbacks for referring WC patients to a certain hospital for spine surgery. In April 2017, the excluded individual was suspended from participating in the state’s WC system as a doctor, practitioner or provider. In March 2019, the Plaintiff hired the Excluded Person as an administrative employee to provide related services, at least in part, to recipients of the federal health care program. The state’s Medicaid program disqualified the disqualified individual in May 2019, and the OIG disqualified the disqualified individual in March 2021. Plaintiff placed the disqualified individual on unpaid administrative leave in May 2021 and disclosed the employment of the person at BIG.

Under the proposed arrangement, Plaintiff would reinstate the Excluded Person’s employment as a WC Paymaster Relations Representative, marketing Plaintiff’s medical services to WC Payers and attorneys working with WC Payer Covered Persons. . The excluded individual would also develop marketing materials, research potential contacts within the state’s WC industry, participate in WC industry groups, and provide information about the WC to the plaintiff’s management. Applicant has certified that the Excluded Person will not provide marketing, billing, or any other services to Federal Health Care Program recipients or any provider or supplier who refers Federal Health Care Program recipients to Applicant . Further, the individual would have no contact with federal health care program recipients and would not provide any items or services, directly or indirectly, for which payment may be made by a federal health care program. health. Plaintiff also certified that it would create a separate payroll division that would pool revenue from the reimbursement plaintiff receives only from non-federal health care program payers, and that the salary, benefits, and expenses of the excluded person would be paid exclusively from this separate payroll. .

The OIG concluded that the proposed arrangement would not engage its civil authority for monetary penalties under section 1128A(a)(6) of the Act. He relied on the plaintiff’s certifications that the disqualified person would not provide any items or services directly or indirectly to federal health care program recipients and that federal health care programs would not pay, directly or indirectly, the salary of the excluded person. The OIG also noted the plaintiff’s certification that the individual would be paid from separate payroll funds derived solely from reimbursement from non-federal health care program payors, but pointed out that “[a] the provider need not maintain a separate account from which to pay the excluded person, so long as no claim is submitted or payment is received from federal health care programs for items or services that the excluded person provides and that such items or services relate only to non-Federal Health Care Program patients.

The OIG’s advice was not without caveats, however. The OIG cautioned that its notice: (1) did not address potential liability based on the disqualified person’s prior employment with the claimant; and (2) gave no opinion on whether the proposed arrangement would involve or violate the terms of the disqualified person’s suspension from participation in the state’s WC system. The OIG further cautioned that the proposed arrangement raises compliance concerns, as the claimant proposes to employ a person convicted of receiving illegal bribes in exchange for directing WC patients into a marketing role designed to encourage WC payers and attorneys to refer their clients to the applicant for medical services. Nevertheless, since the excluded person’s employment under the proposed arrangement would not involve the provision of items or services for which payment may be made under a federal health care program health, so it would not involve the civilian monetary penalty authority of the OIG.

Analysis. Pursuant to 42 CFR § 1001.1901, no payment may be made by Medicare, Medicaid, or any other federal health care program for any item or service provided by an excluded person or entity during the exclusion period. Accordingly, federal health care programs do not pay for items or services provided directly or indirectly by an excluded person, regardless of who bills for those items or services. Providing “indirectly” means providing items or services manufactured, distributed, or otherwise provided by persons or entities who do not directly submit claims to Medicare, Medicaid, or other federal health care programs, but who provide items or services to providers, practitioners, or vendors who submit claims to these programs for such items and services. 42 CFR § 1000.10.

Advisory Opinion 22-11 is the latest in the OIG’s analysis regarding the employment of excluded persons by health care providers who submit claims to federal health care programs. See, for example, OIG Advisory Opinion No. 18-011 (finding that an excluded participant could market the company’s services to long-term pharmacies that could submit claims to federal health care programs because the marketing services offered were far removed from the products provided to program beneficiaries ); OIG Advisory Opinion No. 03-012 (finding that the excluded physician could perform some attenuated business development functions for the employer without sanction, although the employer’s products would ultimately be paid for by the Medicare program through inclusion in hospital cost reports ); OIG Advisory Opinion No. 01-163 (concluding that the employment of an excluded physician as a program developer in a health maintenance organization would not be subject to administrative sanctions).4 The OIG has also provided guidance relating to prohibitions on employing or contracting with excluded individuals and entities in its “Special Information Bulletin on the Effect of Exclusion from Participation in Federal Health Care Programs.” health “.5

Advisory Opinion 22-11 is available at While this notice and others discussed herein apply only to the specific facts and proposed arrangement presented in each particular application and should not be construed as general policy, they do offer informal guidance to care providers. on practices related to the employment of persons excluded from the federal government. health care programs that could result in the imposition of significant monetary penalties.

[1] Available at
[2] Available at
[3] Available at
[4] See also OIG Advisory Opinion No. 19-05 (purchasing real estate from an excluded person would not trigger penalties), available at -19-05.pdf; OIG Advisory Opinion No. 07-17 (finding that an excluded person who assigned to a family-controlled entity the rights to an invention ultimately sold to health care providers who could bill federal programs for this was not subject to sanctions) available at
[5] Available at

Florida CFO steps in, urges court to uphold PTSD benefits for firefighters Wed, 22 Jun 2022 05:04:47 +0000 New You can now listen to the Insurance Journal articles!

Florida’s chief financial officer has stepped in amid a firefighters’ compensation appeal for mental stress, a decision the firefighter’s attorney called “unprecedented” and reflects the importance of the case.

If Florida is 1st The District Appeals Court upholds a compensation claims judge’s decision in the case that could block post-traumatic stress disorder treatment and furloughs for many firefighters, police officers and emergency workers, said chief financial officer Jimmy Patronis and plaintiffs’ attorney Geoff Bichler.

“It could create a horrific and crippling effect on PTSD claims,” ​​said Bichler, attorney for the plaintiff in the case, retired Brevard County firefighter Roger Williams.

“This case is particularly important because the 1st DCA has an opportunity to set a legal precedent in support of our brave firefighters across the state,” Patronis, who also serves as the state fire marshal, said in a statement this week after his office filed a an amicus curiae brief in Williams’ appeal. “PTSD is a serious challenge for many of our first responders because they see and deal with things that are unthinkable in the line of duty.”


The point of contention in the Williams case appears to stem from the fact that Florida has two laws that address the benefits of mental stress for responders: one has been in place since 2007 and only authorizes medical benefits for PTSD that is not accompanied by physical injury. .

A 2018 law that Patronis lobbied for passed after the mass shootings of Pulse nightclub and Parkland High School. It provides medical benefits and compensation for mental stress, even without the accompanying physical injury. But it also requires applicants to meet strict criteria and present compelling evidence of mental trauma.

Bichler and Patronis’ financial services department says compensation judge Michael Ring applied the wrong law, potentially setting a damaging precedent for first responders who need professional help.

A second very similar case, Jerome Patterson v. City of Jacksonville, is also pending before the 1st DAC. If the appeals court agrees that firefighters in these cases are not owed benefits, state firefighters can ask the Legislature to clarify the law, Bichler said.

About 11 PTSD claims filed under the 2018 statue have gone to trial, only three of which awarded benefits, according to a search of orders from Florida’s Office of Compensation Claims Judges.

This issue in the Williams case has not been tested at the appellate court level thus far.

The circumstances of the Williams case, as described in the court filing, reflect the searing events first responders often witness and the emotional toll such footage can take. The case file also shows how emotional issues outside of the workplace can contribute to the mental health of rescue workers, perhaps to the detriment of their compensation claims.


Roger Williams had been a firefighter with Brevard County Fire Rescue since 1999. He had worked on many horrific incidents, including a 19-year-old who committed suicide with a shotgun; a 3-year-old child killed by a car; a child with an amputated arm; and two people murdered with a hammer.

But two incidents, in particular, led to the 2021 claim, the competition judge explained. Williams responded to a truck fire in 2019. He could hear the driver screaming but couldn’t reach the man because of flames and an exploding gas tank. About 18 months later, Williams said he cracked up while working at the fire station and saw video on the station’s television monitor showing rescue scenes in the event of an accident. fire. The station also had photographs of fire scenes on the wall.

The firefighter said he began to feel short of breath and then collapsed crying. He also testified that he felt anxiety before his wedding day due to the size of the crowd, and in 2021 cried for hours after having a drink at a bar, the judge said.

Williams’ original claim for benefits sought compensation as well as medical benefits, but, crucially, the claim for compensation was later dropped. The county and its insurance claims administrator, Preferred Governmental Claims Solutions, denied the claim, arguing the stress was unrelated to Williams’ job.

Both parties brought in psychiatrists who examined Williams, his treatment history and his family history. Williams’ doctor said the truck fire and viewing videos of the scene of the fire at the fire station contributed to the man’s trauma. But, the doctor acknowledged, the videos and photos, which immediately preceded the compensation claim, did not appear to meet the rigorous criteria required by Florida’s 2018 law. The competition judge agreed.

These criteria, criticized by some mental health professionals as arbitrary and confusing, include “directly witnessing a death…which resulted in grievous bodily harm of a nature that shocks the conscience”.

The PTSD Act 2018 also requires a mental injury to be demonstrated by “clear and convincing evidence”. Another psychiatrist testified that Williams did not meet established medical criteria for PTSD.

Ultimately, Judge Ring ruled that the 2018 law applied. “I find that the plaintiff has failed to produce clear and convincing evidence that he suffered a mental or nervous injury as a manifestation of a compensable accident as required” by law. Ring denied the request and request for attorney fees for Williams’ lawyers.

Patronis’ amicus brief, written by DFS attorneys Cassidy Perdue and Katie Privett, argues the judge got it wrong. In claims in which only medical benefits are sought, 2007 state law section 112.1815(2)(a) applies, not the 2018 section known as 112.1815(5). ) (a), according to the brief.

“The Compensation Claims Judge erroneously concluded that Florida Statute Section 112.1815(5)(a) governs compensation for all PTSD claims for first responders,” DFS attorneys wrote. . “This finding is contrary to the clear and unambiguous language of the law and ignores the legislature’s intent to increase coverage for mental or nerve injuries suffered by first responders.”

The 2007 law does not require the higher burden of proof and “compelling evidence” when a claimant is only seeking medical benefits for a mental injury, the brief notes.

Attorneys for Brevard County and Preferred Government Claims could not be reached Tuesday for comment on the case.

It’s unclear how much the DFS amicus brief will have with the appeals court, or how likely the judges are to favorably consider the firefighters’ claims. A Florida judge not associated with the case said Tuesday that because Patronis is not often involved in cases, and because the amicus brief is clear and well-written, it could have an impact. The Department of Financial Services also houses the State Office of Insurance Regulation and its Workers’ Compensation Division.

In an editorial published a week ago, however, the South Florida Sun Sentinel newspaper blasted the 1st DCA for its decision on another first responder’s workers’ compensation claim. In Stephen Sargent v Bradford County, 1st DCA upheld a compensation judge’s decision that the sheriff’s deputy was not entitled to benefits after suffering a heart attack.


The state’s “heart-lung law” creates a presumption that heart attacks for court officers are work-related, in most cases. But the court noted that Sargent did not undergo a physical exam when he was promoted from part-time to full-time, even though he had spent one a year before at the sheriff’s office, and a second exam physical was not required by the employer.

The judges may have followed the letter of the law, but the newspaper called the decision “as cruel as it gets.”

The dissenting opinion of Justice Scott Makar can be viewed here.


Sam Robert Recognized as a Catalyst Leader by Fulcrum Partners, a OneDigital Company Tue, 21 Jun 2022 13:01:30 +0000

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ATLANTA, June 21, 2022 (GLOBE NEWSWIRE) — Fulcrum Partners, a OneDigital company, announced SamRobert as a 2022 Catalyst Leader. Sam serves as the company’s Vice President – ​​Retirement and is based in the Dallas/Fort Worth area. He is the fourth member of the Fulcrum Partners team to receive recognition as a Catalyst Leader in 2022, joining the company’s Vice Presidents – Retirement, Kenny DePaola, Christine Scott and Adam Monson.

General director Mike Powers said, “At Fulcrum Partners, a OneDigital business, we realize that our organization’s ability to meet and meet the needs of a changing workforce is directly aligned with the quality of young talent we bring into our enterprise. Although Sam has not been part of the Fulcrum Partners team for long, he has quickly distinguished himself with his attentive and thorough customer service and his exceptional knowledge of the industry.

“It’s a real pleasure to work with such a knowledgeable team of advisors,” Sam said. “I’ve spent half my career partnering with this team on the recordkeeping side, so amazing experience to now work with this team every day and call them my peers.”

“Sam is an industry expert,” said the senior vice president Mount Harrickone of Sam’s mentors and project partners. “As a member of Fulcrum Partners, a OneDigital company, Sam is well positioned to provide what we believe to be the most holistic and comprehensive customer service available in the industry. He seizes the opportunity and the companies he serves take advantage of it.”

Sam added, “I’m passionate about helping plan sponsors create innovative non-qualified plan solutions. Providing a state-of-the-art unqualified plan well positioned within the organization can be the difference between hiring the right candidate or retaining a key contributor. I love watching the light bulb go on for plan committee members, or when the HR manager looks at you across the table and says, “I never thought of it that way.” or “We are implementing this immediately”. And while it’s always exciting to work with new plan sponsors to create new plans, I particularly enjoy developing unique education campaigns for existing plans that lead to increased plan participation.

Sam is a graduate of the University of Texas at Arlington and holds Series 66 and Series 7 licenses from the Financial Industry Regulatory Authority (FINRA).

Learn more about Sam Robert and all the benefits specialists at Fulcrum Partners, a OneDigital company ( To learn more about how organizations and leaders can benefit from using unqualified deferred compensation (NQDC), follow Deferred compensation news.

About Fulcrum Partners, a OneDigital company

Fulcrum Partners ( With a team of seasoned industry professionals who offer diverse skills, focused experience and deep expertise in executive compensation and benefits consulting, the finance professionals at Fulcrum Partners, a OneDigital company, focus on an integrated approach to the design, funding and plan administration of executive benefits programs. Originally founded in 2007, the company is now part of consulting firm OneDigital and has benefits consulting offices in Atlanta, Georgia; Chicago, Ill.; Charleston and Bluffton, South Carolina; Cleveland, Ohio; Delray Beach, Orlando and Ponte Vedra, Florida; Los Angeles and Irvine, California; Portland, Oregon; Salt Lake City, Utah; Dallas/Fort Worth, Texas and Washington DC

About OneDigital

OneDigital provides strategic advice and technology solutions to more than 85,000 employers across the country. As health care, wellness and employee benefits continue to converge, companies of all sizes have relied on OneDigital’s exceptional consulting teams for advice on employee benefits, -being, human resources, pharmacy consulting, property and casualty insurance solutions, as well as retirement and wealth management services provided by OneDigital Investment Advisors. OneDigital’s commitment to technology and innovation enables its 3,000 advisors to deliver the most modern and intuitive customer experience in the industry.

OneDigital was named Best Workplace in Insurance by Business Insurance. For more information, visit

This document has been prepared for informational purposes only and is not intended to provide, and should not be relied upon for, accounting, legal or tax advice. Any tax advice contained herein is general in nature. You should seek advice from your tax advisor before pursuing any idea contemplated herein. Please carefully consider the investment objectives, risks, charges and expenses before investing in mutual funds. The prospectus, which contains this and other information about the investment company, can be obtained directly from the fund company or from your financial professional. Be sure to read the prospectus carefully before deciding whether or not to invest.

Securities offered by Lion Street Financial, LLC (LSF) and Valmark Securities, Inc. (VSI), each a member of FINRA and SIPC. Investment advisory services offered by Lion Street Advisors, LLC (LSA) and Valmark Advisers, Inc. (VAI), each an SEC-registered investment adviser. Please refer to your investment advisory agreement and the information provided on the ADV form for more information. VAI/VSI and LSF/LSA are unaffiliated entities and separate entities from OneDigital and Fulcrum Partners.

Unless otherwise stated, VAI/VSI, LSF/LSA are not affiliated with, associated with, authorized, endorsed by, or officially connected in any way with any other company, agency, or government agency identified or referenced herein.

Lion Street Councilors // Lion Street Financial


Steve Broadbent


[email protected]

A photo accompanying this ad is available at

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Sam Roberts, Executive Benefits Specialist, Recognized as a Catalyst Leader at Fulcrum Partners

Sam Robert, Vice President – Retirement, Honored as Catalyst Leader, Fulcrum Partners at OneDigital Company

Source: Fulcrum Partners, LLC

Utah’s economy continues to grow while reducing unemployment – Cache Valley Daily Mon, 20 Jun 2022 17:52:56 +0000

FILE PHOTO: Image by Ronald Carreño from Pixabay

LOGAN — The number of jobs added to Utah’s economy continues to grow while the state’s unemployment claims continue to decline. According to the Utah Department of Workforce Services employment summary for May 2022, which was released last week, Utah’s nonfarm payrolls increased 3.5% over the past 12 months, adding a total of 55,500 jobs since May 2021.

Over the past year, Cache County has surpassed the Utah average with a 3.8% increase in jobs. Box Elder County also saw its labor force increase by 2.4%. Utah’s economy, overall, remains one of the strongest in the country.

Statewide, eight of Utah’s top ten private sector industry groups posted year-over-year net job gains, led by commerce, transportation and utilities (11,100 jobs); Leisure & Hospitality (10,800 jobs); construction (8,100 jobs); and education and health services (7,500 jobs). The two that recorded job contractions are professional and business services (-500 jobs); and financial activities (-400).

Nationally, the May jobs report showed a slight slowdown in growth. The economy gained 390,000 non-farm payroll jobs, down from 436,000 the previous month. In May, there were notable gains in sectors such as Leisure and Hospitality, Transportation and Warehousing, and Professional and Business Services (contrasting to Utah which saw a slight decline in that sector).

“Utah’s economic performance continues to advance at a solid pace,” said Mark Knold, chief economist at the Utah Department of Workforce Services. “The unemployment rate remains at a historic low and job growth remains one of the best in the country. Employment growth rate slowed over the year. This is expected and reflects current performance relative to a rapidly improving Utah economy a year ago. As this year progresses, the more the economy improves compared to a year ago, the more job growth this year will tend to decline. We expect that by the end of the year, Utah’s employment growth rate will be around its annual average of 3.0%. »

According to personal finance site WalletHub, the U.S. unemployment rate sits at 3.6%, which is still slightly higher than it was before the pandemic, but well below the near all-time high of 14. 7% in April 2020. This overall decline can largely be attributed to a combination of vaccinations and states removing restrictions. However, it will take us longer to bring the unemployment rate back to pre-pandemic levels than it took for the virus to reverse over a decade of job growth.

Graph of annual percentage change in non-farm payrolls in Utah. Illustration courtesy of Utah Department of Workforce Services.

In order to identify the states with the most rebounding unemployment rates, WalletHub compared the 50 states and the District of Columbia based on six key metrics that compare unemployment rate statistics from the last month for which data is available. (May 2022) on key dates. in 2019, 2020 and 2021.

According to WalletHub analysis, Utah ranks 6th among all states and Washington, DC with the best rebound in unemployment. Utah’s numbers are as follows:

  • Unemployment rate in May 2022: 2.0%
  • Evolution of unemployment May 2022 vs May 2019: -18.3%
  • Change in unemployment May 2022 vs January 2020: -18.2%
  • Change in unemployment May 2022 vs May 2020: -72.3%
  • Evolution of Unemployment May 2022 vs May 2021: -28.4%
  • Non-seasonally adjusted continuing claims May 2022 vs May 2019: -21.9%

Among Utah’s neighbors, Montana ranked 8th, Idaho 12th, Arizona 14th, Wyoming 26th, Colorado 36th, Nevada 47th and New Mexico 50th.

In order to determine the states whose unemployment rates are rebounding the most, WalletHub focused on two categories. In the first category, they compared the evolution of unemployment from the last month for which they had data (May 2022) to May 2019, May 2020, May 2021 and January 2020, in order to show the impact since 2019 and since the start of the pandemic. They also compared unadjusted continuing claims from May 2022 to May 2019. In the second category, they looked at the state’s overall unemployment rate and then used the average of those categories to rank the states.

The data used to create this ranking was obtained from the US Bureau of Labor Statistics and the US Department of Labor.

]]> Samuel Hale Creates Workers’ Compensation Captive Mon, 20 Jun 2022 14:07:50 +0000

Samuel Hale, an employer carve-out organization, will insure its $50 million workers’ compensation risk through an insurance captive run by A+-rated Arch Insurance, beginning on July 1, 2022.

“We’ve been working on this for six years,” said Samuel Hale general manager Michael DiManno. “The captive arrangement will allow us to maximize the benefits of our carve-out agreement which dictates the economics of our business.”

California has a very high litigation rate on workers’ compensation insurance claims compared to the rest of the country. According to the Workers’ Compensation Insurance Rating Bureau, California spends as much money on friction costs associated with litigation as it does on reimbursing injured workers’ wages, making it one of the most expensive states in the United States. for workers’ compensation premium.

Exclusions have been created by the Department of Workers’ Compensation to allow approved entities to handle their claims disputes through Alternative Dispute Resolution (ADR) instead of the overburdened court system. ADR, compensatory claims are settled quickly and employees receive their money faster, while insurers can avoid the exorbitant costs of the slow legal system.

“This captive gives us a 10-year horizon on workers’ compensation[ensation]which creates long-term stability for our clients in a very precarious financial climate,” said DiManno. “We now have maximum control over our program and can deploy the best cost containment services based on our specific needs.

US Marshals case sheds light on police cellphone tracking Sun, 19 Jun 2022 18:47:37 +0000

The cellphone tracking tool a federal agent allegedly used to track a former girlfriend may have been scuttled, but analysts say they fear police have even more technology at their fingertips. invasive.

Adrian O. Pena, a deputy U.S. marshal in Texas, was indicted this month by prosecutors who say he used Securus Technologies’ LBS platform to track people he had “personal relationships” with, violating the intent of the tool, which was to be used by cops engaged in official business.

The conduct that earned Mr Pena scrutiny took place in 2016 and 2017, and Securus says it shut down the LBS platform, which relied on pinging cellphones, four years ago.

But Aaron Mackey of the Electronic Frontier Foundation says it’s likely cops have found more accurate tools that use GPS or WiFi locations.

“The demand for location data and the potential abuse by law enforcement of their ability to collect it and their desire to have access to it has not changed. What has changed is the technical way they acquire it,” Mr Mackey said.

According to an indictment, Mr Pena used the tool to track at least nine people he was not authorized to track. When investigators looked into the case in 2017, they repeatedly questioned him about whether he had used the tool on ex-girlfriends.

He denied abusing the tool, but prosecutors say he was lying.

Mr. Pena gained access to the platform as part of a task force the US Marshals Service was leading with the Uvalde County Sheriff’s Office, which had a contract with Securus Technologies for its platform. location-based services.

LBS relied on data purchased directly from telecommunications companies, providing latitude and longitude coordinates for locating a phone.

The ability of police to track someone via phone is deeply controversial, even without the system being abused by bad actors. But the relative ease of tricking the system has raised new questions.

According to court documents, Securus LBS only required someone to log in, choose their target, upload a document justifying the search, then clock a few buttons and get the location of the cell, according to court documents. And it turned out that downloading unwanted documents worked really well to clear that hurdle.

The actions that prosecutors attribute to Mr. Pena took place in 2016 and 2017, but have not been charged so far. It’s unclear why prosecutors waited so long, given that court documents show investigators interviewed Mr Pena in late 2017 and suspected he was lying at the time.

Meanwhile, federal prosecutors secured a conviction against a Missouri sheriff who used Securus’ LBS platform to track hundreds of people, including a state judge.

Securus said last week that it shut down the tool years ago.

“The tool was designed with safeguards and security protocols, but we also relied on the integrity of law enforcement to operate it ethically,” the company said in a statement. “All of this preceded our aggressive transformation over several years, and we would not and will never provide the service again, period.”

The country’s major cellular service providers also say they have stopped selling the underlying data.

But other methods of tracking people by smartphone exist.

Private vendors have collected location data from apps people use, and Motherboard reported that several federal agencies, including the IRS and Customs and Border Protection, have had access to some of this data.

The legal framework for agencies accessing data without a warrant is also part of the ongoing debate.

Analysts say that if the technology and politics are worrying enough, the system Securus put in place enabled the abuses that have come to light.

“Nobody was checking that,” said Mr. Mackey, of the Electronic Frontier Foundation. “There was no audit, either by Securus or by law enforcement who had a contract with Securus.”

The Uvalde County Sheriff’s Office, which contract prosecutors said covered Mr. Pena and his search, did not respond to a request for comment.

The US Marshals Service did not respond to questions about steps taken to prevent this type of abuse in the future, instead focusing on Mr Pena as a bad actor.

“This employee’s alleged actions do not reflect the core values ​​of the U.S. Marshals Service, and Pena has been removed from operational duties and placed on administrative leave,” the agency said. “An indictment is only an allegation, and the accused is presumed innocent until proven guilty beyond a reasonable doubt by a court.”

IRS Treatment of Cryptocurrency for the 2021 Tax Year and Beyond Sun, 19 Jun 2022 15:30:54 +0000

Cryptocurrency plays a larger societal role, from personal income tax, retirement/estate planning, transactions, and even professional athlete salaries.

Those engaged in the crypto market will want to know how to comply with current tax laws and how to navigate the tax rule changes regarding crypto that are expected to arrive.

While crypto enthusiasts have a good case for supporting its viability, those doing business using crypto may not be aware of the tax reporting and compliance obligations that come with its use. In addition to the reliable, long-term reserve of crypto stocks with stocks, crypto investors favor mathematical algorithms that cap the cryptocurrency and prevent governments from weakening its value through inflation.

However, those who invest in crypto and those who buy and sell it will likely face new reporting/disclosure obligations as the market continues to develop. This article (the first in a series) focuses on the general federal income tax rules for virtual currency and examines potential taxpayer reporting and compliance pitfalls in this developing market.

For now, the IRS argues that cryptocurrency is a taxable capital asset, similar to traditional stocks. You realize a taxable gain if you sell your crypto for a profit, and you can claim a capital loss (potentially offsetting other income taxes) if the crypto market fell before your sale. Long-term appreciation rates, which may be favorable depending on your income, only apply to crypto if you’ve held your crypto for a year or more before selling, giving away, or trading it. ‘swap.

Michael Pollock

The record-keeping requirements of IRS Form 8949 (to report other dispositions of fixed assets) can be onerous, especially for those who conduct business using crypto throughout a given year. Additionally, the IRS can track these transactions using multiple channels. The IRS is working to “fill the virtual currency information gap” by developing third-party reporting systems (broker returns) to identify crypto transactions that cannot be easily identified on typical reporting forms, such as a W-2 form (for salary employees), a 1099-MISC form (for non-employee payments made in connection with business or commercial activities), and, more relevantly, a 1099-K form (for third-party payment network transactions made through platforms such as PayPal, Venmo, or Zelle or, in the context of crypto, a crypto exchange such as Coinbase, Binance.US, or

Although the IRS has little interest in reviewing unreported virtual currency transactions of relatively low value, taxpayers who find they have failed to report and fail to act are playing a dangerous game that could result in the imposition of interest and penalties or even criminal prosecution. . Additionally, whistleblowers who report missing activity to the IRS are eligible for monetary rewards in the form of a percentage of any penalties collected. Crypto investors and traders should beware: transactions added to the blockchain are indelible. The federal government does not have a time limit for bringing civil tax evasion suits against a taxpayer.

Investors and their businesses that report no virtual currency-related income have a three-year look-back period to change past returns. They should seek professional tax and legal representation.

Nonetheless, if you are a compliance-minded crypto investor/trader, consider getting a full accounting of all your crypto activities on every platform you use. This allows you to do some of your own tax planning (e.g. determining what capital gains treatment you qualify for (long-term/short-term)), but more importantly, it ensures at least some basic tax compliance. .

Michael Pollock is an associate attorney at Wright Lindsey Jennings who advises and represents corporations and individuals in tax and commercial matters. The opinions expressed are those of the author.

Newtek Business Services (NASDAQ:NEWT) and PFSweb (NASDAQ:PFSW) Head-to-Head Analysis Sat, 18 Jun 2022 14:25:18 +0000

PFSweb (NASDAQ:PFSW – Get Rating) and Newtek Business Services (NASDAQ:NEWT – Get Rating) are both small cap business services companies, but which stock is superior? We will compare the two companies based on their risk strength, earnings, analyst recommendations, institutional ownership, valuation, dividends and profitability.

Analyst Notes

This is a summary of current ratings and price targets for PFSweb and Newtek Business Services, as reported by MarketBeat.

Sales Ratings Hold odds Buy reviews Strong buy odds Rating
PSFweb 0 0 1 0 3.00
Newtek Business Services 1 0 0 0 1.00

PFSweb currently has a consensus target price of $13.00, indicating a potential upside of 6.30%. Given PFSweb’s stronger consensus rating and higher likely upside, analysts clearly think PFSweb is more favorable than Newtek Business Services.

Benefits and evaluation

This table compares the revenue, earnings per share and valuation of PFSweb and Newtek Business Services.

Gross revenue Price/sales ratio Net revenue Earnings per share Price/earnings ratio
PSFweb $277.30 million 1.00 $147.23 million $6.69 1.83
Newtek Business Services $108.49 million 4.27 $84.14 million $2.75 6.97

PFSweb has higher revenue and profit than Newtek Business Services. PFSweb trades at a lower price-to-earnings ratio than Newtek Business Services, indicating that it is currently the more affordable of the two stocks.


This table compares the net margins, return on equity and return on assets of PFSweb and Newtek Business Services.

Net margins Return on equity return on assets
PSFweb 50.16% -6.56% -3.72%
Newtek Business Services 93.16% 18.95% 7.18%

Volatility and risk

PFSweb has a beta of 1.61, which means its stock price is 61% more volatile than the S&P 500. Comparatively, Newtek Business Services has a beta of 1.07, which means its stock price is 7% more volatile than the S&P 500.

Insider and Institutional Ownership

73.4% of PFSweb shares are held by institutional investors. Comparatively, 25.2% of Newtek Business Services shares are held by institutional investors. 8.4% of PFSweb shares are held by insiders. Comparatively, 5.1% of Newtek Business Services shares are held by insiders. Strong institutional ownership indicates that endowments, hedge funds, and large money managers believe a stock is poised for long-term growth.


PFSweb beats Newtek Business Services on 9 out of 14 factors compared between the two stocks.

About PFSweb (Get a rating)

PFSweb, Inc., together with its subsidiaries, provides omnichannel commerce solutions in the United States, Belgium, Bulgaria, United Kingdom, Canada and India. The Company offers a cash order service, which provides distributed order orchestration and payment processing; order fulfillment services; contact center services focused on providing essential services, such as order entry, return authorization, product request and order tracking, as well as iCA, an application where agents provide service functions such as placing orders, checking order status, facilitating returns, initiating upsells and cross-sells, managing escalations, and collecting voice-of-customer insights. It serves customers in various industries, such as fashion apparel and accessories, perfume and beauty products, healthcare, luxury goods, cosmetics, footwear, consumer packaged goods, housewares, coins and collectibles, jewelry, computer and office products and other industries. The company was incorporated in 1999 and is headquartered in Allen, Texas.

About Newtek Business Services (Get a rating)

Newtek Business Services logoNewtek Business Services Corp. is a business development company specializing in providing financial and business services to the small and medium business market in the United States. The company is also looking to invest in early-stage companies. The company seeks to make debt and equity investments. Within leveraged investments, he focuses on senior loans, which have tenors of 1 to 25 years; junior loans, which have tenors of 5 to 25 years, and unsecured loans, which are provided to meet short-term financing needs and are repaid within 6 to 12 months. It operates through Electronic Payment Processing, Managed Technology Solutions, Small Business Finance and Capcos segments. The company provides small business administration loans for the purpose of acquiring commercial real estate, machinery, equipment and inventory, as well as refinancing debt and funding franchises, working capital and business acquisitions; and provides small business loan servicing and advisory services to the Federal Deposit Insurance Corporation and various other financial institutions, as well as management services. Its electronic payment processing services include credit and debit card processing, check approval, ancillary processing equipment and software for merchants, e-commerce, electronic solutions for accepting payments other than in cash, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty cards. programs. The company also provides website hosting, dedicated server and cloud hosting services; Web design and development; online marketing; data storage and backup and other related services; and e-commerce services, such as payment processing, online shopping cart tools, website design, and web-related services; Accounts Receivable Funding and Secure Gateway. Additionally, it offers Newtek Advantage, a real-time mobile operating platform for a business to access data on a smartphone, tablet, laptop or PC for e-commerce, credit transactions /debit, website statistics, payroll, insurance and business loans. . In addition, the Company sells lines of personal, business and health/benefits insurance products; and employee payroll management and tax filing processing services. It has strategic alliances with American International Group, CTAA, Navy Federal Credit Union, Credit Union National Association, Pershing and others to provide agent services to small business clients. The company is looking to invest in the New York and Louisiana area. The company is looking to invest between $0.3 million and $3 million in businesses. It offers small business loans on terms ranging from $0.05 million to $10 million. The company also offers accounts receivable financing ranging from $0.05 million to $1.5 million. It also offers financing from $0.05 million to $10 million to owner-occupied real estate businesses with an average net income over the past 2 years that must not exceed $2.5 million. Newtek Business Services Corp., formerly known as Newtek Business Services Inc., was incorporated on August 26, 2013 and is headquartered in Boca Raton, Florida with additional offices in Lake Success, New York, Garden City , New York ; Miami, Florida; Milwaukee, Wis.; New Orleans, Louisiana; and New York, New York.

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