Final comments have been submitted regarding a proposed Department of Labor rule designed to extend overtime protection to around 3.6 million workers. The proposal, announced last summer, would guarantee overtime pay for salaried workers making less than $1,059 a week, or roughly $55,000 annually. In airing the proposal, Jessica Looman, Labor Department wage and hour division administrator, remarked: “For too long, many low-paid salaried workers have been denied overtime pay, even though they often work long hours and perform much the same work as their hourly counterparts.” Continued Looman: “This proposed rule would ensure that more workers receive extra pay when they work long hours.” The proposed rule, officially called Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees, would mandate that low-paid salaried workers receive protections traditionally provided by the Labor Department. In the process, the rule would automatically update the salary threshold for such workers every three years in order to reflect current earnings data. The proposal has generated much industry comment and heat. In filing a response, the American Builders and Contractors called the proposal unlawful and one that will ultimately hurt small businesses. “There is no compelling reason for an adjustment to the minimum salary threshold for exemption since it was increased roughly four years ago,” said Ben Brubeck, the vice president of regulatory, labor and state affairs with ABC. Brubeck additionally noted that the nation’s construction industry is currently challenged by “high materials prices, inflationary pressures and workforce shortages.” The new proposed Labor Department, said Brubeck, “will further complicate the current economic outlook.” The proposal has also sparked the opposition of such groups as the Associated General Contractors of America, the American Bankers Association, and the American Road & Transportation Builders Association. At the same time, a group called the National Employment Law Project has pointed to a study suggesting that employers have used false managerial titles as a means to “misclassify millions of workers as overtime exempt who should be receiving overtime.” According to sources, the Labor Department has received in excess of 26,000 comments both for and against the overtime proposal. The agency is now in the process of reviewing those comments before it issues a final determination. By Garry Boulard
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In a city with more than 8,000 daily bike commuters, preliminary work is underway regarding the building of new bike path and throughway infrastructure. The City of Denver is currently conducting a public input survey designed to get feedback on where new paths should be built, in what neighborhoods, and the extent and scope of the individual routes. The outreach effort is part of a larger overall 10-year bike infrastructure plan that was last completed in 2015 and is due to be updated in 2025. The survey is being published by the Denver Department of Transportation and Infrastructure and is officially titled Denver Moves: Bikes Update. The survey seeks to gain information on existing barriers to bike transportation and areas of the city that are particularly physically challenging. Denver has engaged in an aggressive and even holistic manner to build out its bike infrastructure, constructing upwards of 150 miles of new bikeways in the last 5 years. Overall, according to the Denver Gazette, the city’s bike network consists of “493 miles of on-street and off-street facilities.” According to city documents, Denver hopes that through a comprehensive bike route infrastructure it will see upwards of 15% of it’s total population riding bikes by the year 2030, up from 6% in 2010. That 15% equates to around 100,000 riders. In so doing, the city has embraced the notion of community transportation networks seeing the building of what are called “low-stress bike projects” connecting various sections of the city, as well as creating bike lane striping and installation efforts. Additional bike infrastructure construction has seen the building of neighborhood bikeways and shared-use paths and trails. One of Denver’s most vigorous bike infrastructure efforts has come through the big $937 million Elevate Denver bond program which was passed In a city with more than 8,000 daily bike commuters, preliminary work is underway regarding the building of new bike path and throughway infrastructure. The City of Denver is currently conducting a public input survey designed to get feedback on where new paths should be built, in what neighborhoods, and the extent and scope of the individual routes. The outreach effort is part of a larger overall 10-year bike infrastructure plan that was last completed in 2015 and is due to be updated in 2025. The survey is being published by the Denver Department of Transportation and Infrastructure and is officially titled Denver Moves: Bikes Update. The survey seeks to gain information on existing barriers to bike transportation and areas of the city that are particularly physically challenging. Denver has engaged in an aggressive and even holistic manner to build out its bike infrastructure, constructing upwards of 150 miles of new bikeways in the last 5 years. Overall, according to the Denver Gazette, the city’s bike network consists of “493 miles of on-street and off-street facilities.” According to city documents, Denver hopes that through a comprehensive bike route infrastructure it will see upwards of 15% of its total in 2017, funding the construction of 50 miles of bikeways. Comments on the new Denver bike survey will be accepted until December 15. By Garry Boulard Plans are moving forward for the construction next year of a massive medical office and healthcare facility in El Paso. The Hospitals of Providence, which opened its first hospital in the city in 1902, now wants to build a $200 million facility on the far east side of the city. The new hospital and medical office facility will be designed by the Scottsdale-based Devenney Group, which specializes in healthcare building projects. Earlier this year, the hospital group revealed that it had purchased around 30 acres of land off Eastlake Boulevard in order to build new the facilities. At the time of that acquisition, the Hospitals of Providence described the $15 million purchase as a part of a "multi-year journey to meet the growing healthcare needs of Far East El Paso and Horizon City." As earlier detailed, the project will go up on the not-for-profit healthcare group's existing campus which has already seen a 2022 facility expansion. That earlier $20 million effort increased capacity from 108 to 218 beds and saw the construction of a new operating room and triage rooms. One of the largest healthcare systems in the West, and certainly the largest in metro El Paso, the Hospitals of Providence also provides service for residents of southern New Mexico. It has seen significant growth in recent years with the original opening of the East Campus in 2008, its Transmountain Campus in 2017, and a micro hospital in Horizon City, also in 2017. The El Paso operation is part of a much larger national system that belongs to the Renton, Washington-based Providence Health & Services which was founded by the Sisters of Providence in 1859. By Garry Boulard Heading into the end of the year, architectural firms across the country are seeing a noted decline in new billings, according to a just-released survey. The monthly Architectural Billings Index produced by the American Institute of Architects is showing a 44.3 score for the month of October, part of a longer trend line that first made itself apparent earlier last year. With an overall index below 50 indicating a decline in firm billings, the latest index, put together in conjunction with the Herndon, Virginia-based Deltek software company, shows low numbers in every region of the country. The figures, at 40.0, were lowest in reporting firms located in the West; with the Northeast coming in at 42.1. The South and Midwest were marginally more resilient at 48.5 and 48.9 respectively. The new numbers, said Kermit Baker, chief economist with the AIA, are indicative of not only a "decrease in billings at firms, but also a reduction in the number of clients exploring and committing to new projects, which could potentially impact future billings." Baker additionally noted that the soft conditions were evident not only in every region of the country, but also "across all major nonresidential building sectors." In fact, multifamily residential billings were the lowest among all of the sectors analyzed, at 40.1. Somewhat higher was the commercial/industrial sector at 43.7. The strongest numbers were seen in the institutional sector at 49.1. The industry's overall October 44.3 billings score is indicative of a larger trend that has been reported for much of the year. In October of 2022, the billings score stood at 44.7. Things had only marginally improved this spring when the index came in at 48.0. In updated numbers released earlier this fall, the Bureau of Labor Statistics reported that the average median pay in the architecture industry is now at just under $83,000, with job growth pegged at 5% annually, "faster than the average for all occupations." By Garry Boulard Plans are now being discussed for the building of a 36-story building that will go up in downtown Colorado Springs on a site directly across from the U.S. Olympic and Paralympic Museum. The project is being advanced by The O'Neill Group, a Colorado Springs development company that specializes in new construction and renovation projects. Working with Vela Development, which has offices in Kansas City, Missouri, the O'Neill Group hopes to build a modern apartment complex that will feature nearly 500 residential units. Besides the Olympic Museum, the general site area is surrounded by government buildings and law offices. The developers originally proposed building the project in 2021, topping it out at 25 floors with 316 units. However, according to a story published by the Colorado Springs Gazette, it was determined that the smaller building would not be financially feasible. The new project still needs city approval and may face some opposition in its public input phase. According to the publication CPR News, many residents in Colorado Springs, "don't want tall downtown structures, preferring the city's classic, almost 'anti-urban' identity." An exact schedule for when work on the 36-story project will begin has not yet been announced. By Garry Boulard A plan is in the talking stage that could see the construction of 6.5 miles of biking trails in the Santa Fe National Forest, along with rebuilding of up to 12 miles of one-time logging roads. The plan, as aired by the U.S. Forest Service, would be, if made reality, the second phase of a project that has already seen the building of just over 5 miles of trails near the village of Canada de los Alamos, 9 miles to the southeast of Santa Fe. That first phase work, done in conjunction with the Santa Fe Fat Tire Society, also included the upgrading of nearly 3 miles of former logging roads for use as trails and the improvement of just under one mile of user-created trails. The new project will additionally see the upgrading of 7.1 miles of user-created trails, with the former logging roads being made accessible for people with disabilities. Plans for the second phase work, however, have been criticized by some residents of Canada de los Alamos, where the average home price, according to realtor.com, is $819,000, who say the work already completed has proven disruptive, with mountain bike riders dominating the trail space and negatively impacting wildlife. Complaints have also been aired regarding what has been called a lack of public input, with a notice for comment on the second phase folded into the first phase comment period publicized four years ago. An exact date for when the second phase biking trail project will begin has not yet been announced. By Garry Boulard Top Federal Reserve Official Sees End to Interest Rate Increases; Extols Better Banking Environment11/20/2023 Interest rates, on a wild upward ride for most of the last two years, may soon be leveling off as the economy moves into 2024. “We’re likely at or near the peak of where we need to be in terms of having a sufficiently restrictive stance of monetary policy that will sustainably bring inflation down to 2%,” Michael Barr, the vice chair for supervision at the Federal Reserve, remarked during a podcast hosted by the news service Bloomberg. “I think the recent economic readings reinforce my view that that is probably correct,” Barr added, noting that the danger of having too tight a monetary policy was now being balanced off against the risk of not doing enough to curb price inflation. In separate remarks delivered before the Senate’s Committee on Banking, Housing, and Urban Affairs, Barr, who was appointed to his post by President Biden in 2022, also declared that the nation’s banking system “is sound and resilient.” Stress on the system recorded earlier this spring has receded, continued Barr, “and banking organizations continue to report capital and liquidity ratios above minimum regulatory levels.” At the same time, he noted, “Earnings performance has remained solid and in line with pre-pandemic levels, despite recent pressure on net interest margins.” Described earlier this year by the New York Times as the “man making big banks tremble,” Barr remarked that the failures of the First Republic Bank, Signature Bank, and Silicon Valley Bank in March was likely due to “excessive rate risk in their long-duration assets and an over-reliance on uninsured deposits.” “While the three failed banks were extreme cases, there are other banks that invested heavily in fixed-rate, long-duration assets when long-term interest rates were low,” Barr continued. Those banks have since “recorded sizable declines in the fair value of those assets as interest rates have increased, putting pressure on tangible capital.” Even in the face of such challenges, Barr noted “lending has continued to grow this year,” while adding that loan delinquency rates have remained low as banks have “increased credit loss provisions to mitigate potential future losses.” By Garry Boulard A fast-growing restaurant industry supplier has announced plans to build an extensive new distribution center in Glendale, Arizona. Based in Addison, Illinois, Parts Town Unlimited provides a wide variety of restaurant equipment parts as well as apparel and uniforms and janitorial supplies to restaurants everywhere nationally. The company, which was founded in 1987, is on track to make enjoy around $2.4 billion in revenue by the end of this year, up from $1.8 billion in 2022. According to the site mdm.com, the company earlier this year launched its own heating and cooling system parts offerings, “adding to a diverse portfolio that already included original equipment manufacturer foodservice equipment parts, residential appliance parts, and consumer electronic parts.” Parts Town’s products are diverse enough to serve every conceivable need in any commercial kitchen: cooking equipment and dishwashing equipment parts, parts for ice machines and beverage equipment, chef hats and shoes, janitorial equipment, and floor mats, among dozens of other items. Now the company wants to build a 420,000 square-foot high-tech distribution center in response to a growing demand for its products. In a statement, Steve Snower, chief executive officer of Parts Town, remarked: “Our organic growth continues to be very strong and has exceeded expectations in 2023. We are investing ahead of expected accelerated growth and product expansion in 2024 and beyond.” The new facility will house the high-tech automation and robotics systems that Parts Town has successfully implemented in its 300,000 square-foot Illinois plant. An emphasis will also be placed on carbon reduction measures within the new facility, as well as LED lighting. Work on the massive new facility is expected to begin no later than early next year, with an anticipated completion date of late 2024. By Garry Boulard What is being billed as one of the largest pickleball facilities in the world, and by far the largest in Arizona, may soon see construction in Scottsdale. An organization called Pure Pickleball has announced plans to build facilities for the increasingly popular recreation near the Talking Stick Resort & Casino on the south side of the city, off Talking Stick Way. Currently in the proposal stage, the project is expected to see construction on an 11-acre site, and the building of 29 indoor pickleball courts and 16 courts that will be outside. The courts themselves will be comprised of post-tension and premium cushion surfacing. Those courts will additionally be equipped with video cameras for recording games or streaming matches. The planned facility will also serve as the official headquarters for the USA Pickleball organization, which is currently based in Surprise, and will have space for a training center. Additional features: the building of 500-seat auditorium, gym, locker rooms, and members clubhouse. In a statement, Brian Snider, a senior vice president with real estate developer Caliber, which has signed on as part of the Scottsdale project, remarked: "The demand for pickleball continues to exceed all expectations." Snider added: "We see opportunity for growth in this concept nationwide." According to industry statistics, there are now more than 36 million people in the U.S. playing pickleball on a regular basis. Scottsdale, with more than two dozen public courts has been rated by the site gambling.com as one of the top ten best cities in the country for pickleball. By Garry Boulard A bill co-sponsored by New Mexico Senator Martin Heinrich will make it easier for various state agencies as well as local governments to clean up and improve the water quality in and adjacent to abandoned hardrock mines. Senate Bill 2781 would establish a new pilot program under the auspices of the Environmental Protection Agency, offering limited liability protections for any state or local agency taking on hardrock mine cleanups. As introduced by Heinrich and a host of other Western senators, the legislation defines hard rock mine residue as "any tailings, heap leach piles, dump leach piles, waste rock," or other materials resulting from the mine extraction process. There are thought to be around 33,000 such abandoned mines in the country. Those mines have produced everything from gold and silver to copper and uranium but have also been responsible for toxic by-products contaminating adjacent water bodies and ground water. As written, the Good Samaritan Remediation of Abandoned Hardrock Mines Act will also make it possible for nonprofit groups to spearhead cleanup efforts. A good Samaritan is one "willing to help, not because of what they could gain, but because they know it's right," remarked Tom Cors, senior director for legislative affairs with the Nature Conservancy. In endorsing the Heinrich bill, Cors added: that the measure will make it possible for state and local governments, as well as nonprofits, to "take on responsible abandoned mine cleanups without saddling them with the same liability as the ones who caused the mess in the first place." Th measure has also won the backing of New Mexico Senator Ben Ray Lujan, along with Arizona Senators Mark Kelly and Kyrsten Sinema; and Michael Bennet and John Hickenlooper of Colorado. The bill has now been sent to the Senate Committee on Environment and Public Works for review. By Garry Boulard |
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