Long Island MacArthur Airport is a critical part of Long Island’s ecosystem and, with Joe Campolo on the airport’s advisory board, is poised to see significant growth in the future. Join us and HIA-LI as Joe leads a discussion with industry leaders about exciting new updates and projects related to travel and tourism on Long Island and how this will impact local businesses and our economy.
The Marijuana Regulation and Taxation Act (MRTA) legalizes cannabis for adults 21 years of age or older in New York State. This legislation brings questions regarding cultivation, licensing, and employment policies. Join the Miller Business Center for a program led by Arthur Yermash, CMM Partner and head of our Cannabis Law practice, where he will examine the regulations surrounding the cultivation of cannabis plants for personal use and the different cannabis licenses that exist.
Additionally, this program will discuss employment law issues and policies surrounding cannabis and the workplace such as hiring and firing concerns, what actions regarding cannabis employers can and cannot prohibit, as well as drug testing and cannabis impairment.
Join Christine Malafi for an attorney-only CLE by Suffolk County Bar Association Academy of Law as she demonstrates the ins and outs of buying and selling a business. Christine has led the CMM legal team in closing countless M&A deals worth billions of dollars. She has vast experience advising on both buy-side and sell-side M&A transactions in a variety of industries, including technology, manufacturing, education, healthcare, and professional service sectors.
In this virtual presentation, you will learn about:
● Steps needed to grow a thriving business ● What are your business value drivers ● Why exit planning is important ● How to grow a business that will sell for maximum value ● How does the current pandemic affect the value of your business ● What a seller can do in advance to plan for the sale of their company (to obtain maximum value) ● The process of buying or selling a business
Details
Faculty: Kyle Griffith, CBI, DM, AP; Christine Malafi, Esq. and Ken Pischel, Fractional CFO
Date: January 27, 2022
Time: 1 PM – 2:15 PM
Where: Zoom
Price: SCBA Members $45; Non-Members $60
The program will provide you with 1.5 CLE credits in Professional Practice.
Pets are family, and one of the reasons our client’s veterinary hospital is so successful is the atmosphere of compassion that their animal-loving staff provides. This type of care has helped the family-oriented practice build their reputation in a NY suburb just north of the city and establish themselves as a leader not only in the surrounding community, but in the veterinary field. Their passion and dedication over two decades in business caught the attention of a larger veterinary group looking to expand, and CMM was thrilled to help our client navigate the multimillion-dollar sale.
Our client expressed their gratitude for CMM’s team, led by Senior Partner and Corporate Department Chair Christine Malafi, with the hard work of Paralegal Kat Campolo, and Legal Assistant Cailey McByrne. The client was particularly appreciative of CMM’s ability to close the deal within a tight timeframe, keeping everything moving smoothly.
This business deal among animal lovers shows that anything is paw-sible when CMM’s M&A team is involved. Visit our M&A practice page to learn more or contact us for your next merger or acquisition.
HIA-LI Board Member Joe Campolo moderated the 44th HIA-LI Annual Meeting and Legislative Program held virtually on January 14, 2022. Joe reported on the tremendous work of the business community, elected officials, and HIA-LI to push Long Island forward as we enter the third calendar year of the pandemic. The event began with opening remarks by Acting Commissioner and President and CEO Designate of Empire State Development Hope Knight and Suffolk County Executive Steve Bellone. Joe then led a discussion with elected officials about building back our economy and other issues most affecting the business community. Panelists included New York State Senator Mario Mattera, State Assemblyman Mike Fitzpatrick, Town of Smithtown Supervisor Ed Wehrheim, and Town of Islip Supervisor Angie Carpenter.
Fed up with flooding on their land during rainstorms, Suffolk County property owners filed suit against the owners and developers of the neighboring golf club, whose water drainage system they alleged was causing the flooding. They also named various Town defendants in their lawsuit, including the Highway Department, the Planning Department, and the Town itself, for their roles in approving the allegedly faulty drainage system. With holes in the plaintiffs’ case immediately apparent to the CMM Municipal Liability team, we got to work.
CMM’s team, led by Senior Partner and Municipal Liability Chair Scott Middleton and Associate Richard DeMaio, with support from Paralegal Dominique Berberich, moved for summary judgment (essentially, a request that the Court dismiss the case because there are no facts at issue). CMM successfully presented evidence and testimony from a Town consulting engineer that the drainage plan met the standards of the Town Code. Furthermore, the team demonstrated that the plaintiffs did not timely file notices of claim (required to be filed prior to bringing a lawsuit against a municipal entity in New York) for each instance of flooding, nor did the plaintiffs allege any specific date to identify when the flooding occurred.
Thanks to CMM’s hard work, the Court granted the Town’s motion for dismissal of the complaint. Learn more about our municipal liability practice group here.
What a way to end the year – CMM’s mergers & acquisitions team finished 2021 with a bang, closing a newsworthy transaction involving multiple companies, shareholders, and sales.
Our client, Creative Bath Products Inc., is a Long Island manufacturer whose products are sold through major retailers such as Amazon, Target, Costco, and Walmart. The company has existed for over 40 years and attributes their success to its commitment to designing and manufacturing beautiful functional housewares and products that capture the consumer’s attention and engagement. The company’s manufacturing arm, M & M Molding Corporation, is a plastic fabrication company that shares a location with our client in Central Islip. The business assets of the sister companies were acquired by Delaware-based Creative Products, LLC. The sale of the business assets combined with the sale of the business property resulted in a multimillion-dollar transaction.
With CMM Senior Partner Patrick McCormick having previously represented the company in litigation matters, it was a natural fit for CMM’s corporate team to handle the M&A aspects. Senior Partner and Corporate department chair Christine Malafi led the property and business sale with the help of Paralegal Katharine Campolo. Legal Assistant Cailey McByrne and Senior Associate Vinny Costa also dedicated time and hard work to help close the deal.
2021 has been a busy year for CMM’s M&A team. Having represented sellers in a variety of industries including the arts, aerospace, construction,real estate, and technology, the sale of Creative Bath Products Inc. is another notch in the team’s manufacturing experience belt. Please contact us for your next merger or acquisition.
As the end of the year is approaching, it is important to remind New York State employers and employees of the increased minimum wages that affect both hourly and salaried employees.
For hourly, non-exempt workers, please see the below chart for basic hourly minimum wage increases that go into effect as of December 31, 2021:
Minimum Wage Increase
Geographic Location/ Increase from 2021
2022 Rate
NYC
$15.00 per hour (no change)
Nassau, Suffolk, & Westchester / +$1.00 per hr
$15.00 per hour
Remainder of New York State / +$0.70 per hr
$13.20 per hour
To the extent you or your workforce are paying basic minimum wage, it is important to make sure that the increased wages are reflected as of December 31, 2021.
Tip Credit
New York State also allows employers in certain industries to satisfy the minimum wage by combining a cash wage paid by the employer plus a credit for tips the employee receives from customers. The minimum hourly rates New York employers must pay most tipped employees go into effect as of December 31, 2021:
Service Employees
Geographic Location
2022 Rate / Tip Credit
NYC
$12.50 / $2.50
Nassau, Suffolk, & Westchester
$12.50 / $2.50
Remainder of New York State
$11.00 / $2.20
Food Service Employees
Geographic Location
2022 Rate / Tip Credit
NYC
$10.00 / $5.00
Nassau, Suffolk, & Westchester
$10.00 / $5.00
Remainder of New York State
$8.80 / $4.40
The “tip credit” rules can be difficult to follow, so it is important to track this information to ensure that tipped employees are receiving at least basic minimum wage, inclusive of tips, when calculating wages.
Increased Salary Threshold for Overtime Exemption
Finally, there are increases in the minimum salary threshold that must be met for exempt employees. As of December 31, 2021, the following minimum salaries must be paid for exempt administrative and executive employees:
Geographic Location
2022 Salary Threshold
NYC
$1,125.00 p/w ($58,500.00 annually)
Nassau, Suffolk, & Westchester
$1,125.00 p/w ($58,500.00 annually)
With the upcoming changes, it is important to update policies and pay practices to stay in compliance. If you have questions about minimum wage, overtime, or wage and hour exemptions, please contact us here or call (631) 738-9100.
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