Worcester Business Journal

40 Worcester Business Journal • August 29, 2016 www.wbjournal.com Join the WBJ's LinkedIn discussion group by scanning the code to the left on your smartphone. To scan the code, you need the NeoReader. Visit get.neoreader.com to download it onto your phone. Want to participate in the conversation? F L A S H P O L L T A L K B A C K STAPLES FAILED MERGER Staples had a bad second quarter of 2016; specifically $766 million in losses bad. While some of that was explained away as $340 million in costs related to the failed merger with Office Depot, as one astute reader pointed out, there are more issues going on here than the failed merger. "The costs related to the failed acquisition account for less than half of the loss reported...so there was a lot more to the loss than just a failed merger." Anonymous WBJ commenter RENWABLE PUSH A story in our Aug. 12 issue detailed the state's efforts to bring in more alternative energy and the possible costs that could come along with it. One reader was clearly in favor of renewable and did not believe the concerns about cost. "The Associated Industries of Massachusetts has fought renewable energy in Massachusetts for over a decade, opposing each and every piece of legislation using incorrect arguments and deception." Anonymous WBJ commenter Are you concerned about the drought negatively impacting your business? We don't see the drought impacting us A s a lack of rain drags on, impacting the region and the state as a whole, environmental experts are warning that the drought's ripple effects could be felt long after the hot weather dissipates into a fall chill. Farmers are those most profoundly impacted by the drought, but its repercussions can spread to other businesses as well. Yet, when asked, the overwhelming majority of WBJ readers didn't feel it would hurt their organizations. COMMENTS: T he Dec. 1 effective date for the new federal rules on overtime for salaried workers is quickly approaching. In three months, employees making less than $47,476 per year must receive time-and-a-half pay for hours worked beyond 40 in a week, up from the previous threshold of $23,660. When asked, WBJ readers were taking a variety of methods, including layoffs. Unprepared or laying off ahead of overtime regulations How is your company preparing for the new changes to the overtime law for salaried employees? COMMENTS: We are eliminating our lower-paying positions. 33% Yes. The after-effects of the drought will continue into the fall and hurt business. 21% We are raising employees' salaries to be above the new threshold. 24% We have not begun any preparations. 33% No. The only way the drought impacts me is my browning lawn. 69% No. Very few businesses in the area are impacted by this. "This drought hurts almost every business, directly through higher costs or in some other fashion, just as most every consumer will be adversely affected through higher food prices and less availability of certain foods this fall, winter and next spring. Consider all the water quality and supply problems we are already facing throughout the country, and how those issues are impacting us more everyday, and a drought just compounds the challenges." "If there are any plans, they have not been passed down the line yet." Yes. The drought has already hurt our bottom line. 5% 5% We are having our salaried employees track their hours. 10%

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