The Department of Labor’s (“DOL”) Final Rule increasing the salary level for exempt positions and increasing the number of employees eligible for overtime goes into effect today, July 1, 2024, for all 50 states, with the exception of the state of Texas as an employer. The Overtime Rule does apply to private employers in Texas. Employment attorney Shannon Hamilton takes a look at what that means to employers in this Stites & Harbison Client

Artificial Intelligence (AI) is being touted as having the potential to save humanity or destroy it. On the saving side there is the possibility for drug discoveries, disease (e.g. cancer) diagnosis for early detection and cure, and energy discovery and efficiency. Stephen Weyer takes a look at the world AI in this Stites & Harbison Client

The Federal Trade Commission (FTC) on April 23, 2024 issued a rule banning future non-compete agreements with limited exceptions. The FTC rule bans virtually all non-compete agreements for employees and independent contractors. Pre-existing non-compete agreements with senior executives remain enforceable, but new non-competes with senior executives are not. Likewise, non-competes entered into pursuant to a sale of a business or person’s ownership stake in a business are exempt from the FTC rule. Pat Torre takes a look at the rule in this Stites & Harbison Client

Learning that a bankruptcy which may impact you has been filed can be disconcerting. Bankruptcy navigates a complicated statutory framework that strikes a delicate balance between a debtor’s interest in financial rehabilitation and the creditors’ interest in maximizing their recoveries. Compounding this complexity is §1109(b) of the Bankruptcy Code, which governs the rights of “parties in interest” to participate in Chapter 11 restructurings. But are you a party with a voice in the case? In Truck Insurance Exchange v. Kaiser Gypsum Co., Inc. et al., the Supreme Court has brought some clarity to this issue.