Issue link: https://nebusinessmedia.uberflip.com/i/935481
wbjournal.com | February 5, 2018 | Worcester Business Journal 5 Commercial Finance Stream? Make Sure Nothing Will Muddy the Waters. It's not always easy to navigate commercial financing options and opportunities whether you're a lender or a borrower, a financial institution, a nonprofit organization, a private entity or a public company. At Fletcher Tilton, our commercial lending experience and continuity of our senior level team ensure consistency, cost efficiency, and a superior level of performance. All so that your commercial financing becomes crystal clear. Real Knowledge in Real Time WO RC E ST E R | F R A M I N G H A M | C A P E CO D FletcherTilton.com COMMERCIAL LENDING | LOAN RESTRUCTURE REAL ESTATE, INDUSTRIAL, CONSTRUCTION, EQUIPMENT FINANCING SMALL BUSINESS ADMINISTRATION (SBA) FINANCING Photo of Trapp Falls by Jerry Callaghan Anthony Salvidio, Esq. 508.459.8004 Karen LaFond, Esq. 508.459.8015 B R I E F S A $15 minimum wage would bring layoffs A report by the Worcester Regional Research Bureau found 31 percent of Worcester workers would receive a pay bump if the state's minimum wage were increased to $15 per hour. Another 9 percent would receive raises to preserve a pay hierarchy within their companies. When polled online, WBJ readers overwhelming said the increases would be bad for business. F L A S H P O L L Chinese firm guilty of stealing AMSC secrets A federal court has found a Chinese wind turbine manufacturer guilty of stealing trade secrets from Devens- based AMSC, which the company says caused the loss of more than $1 billion in market capitalization and 70 percent of its workforce. The jury returned a guilty verdict on three counts: conspiracy to defraud the United States, theft of trade secrets and wire fraud. Sentencing for Sinovel Wind Group, including two of that company's executives and a former AMSC employ- ee convicted in the case is set for June 4. AMSC President and CEO Daniel McGahn called on Chinese courts to similarly hold Sinovel accountable in ongoing civil cases in that country. According to the 2013 indictment, Sinovel purchased software and equip- ment manufactured by AMSC for wind turbines made by Sinovel until 2011, when the company owed AMSC more than $100 million, not including con- tracts to purchase more than $700 mil- lion in goods and services. The indictment alleged Sinovel employees Zhao Haichun and Su Liying recruited Austria-based AMSC employ- ee Dajan Karabasevic to join Sinovel, who then copied intellectual property from AMSC, including the source code for wind turbine software. Continued on next page How would a $15 minimum wage impact your company? Our profit margins are already razor thin and we would be forced to lay off employees. 59% Non-skilled service jobs "will disappear and we will be left with a youth workforce that doesn't know how to work at a job." COMMENTS: AMSC's headquarters in Devens The current minimum wage isn't enough to afford essential life needs and we support the raise. "The current minimum wage just doesn't allow people to live any kind of halfway decent life." "Who would hire a student that is 16 years old for his first job at $15 per hour?" 15% We support the increase but it would have to be implemented gradually. 15% 11% All of our employees make more than $15 per hour so it doesn't impact us.