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When the Loss of Jobs Requires Transit Employers to Provide Advance Notification

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This is the final post in a five-part weekly series reviewing the legal landscape for transit employers considering automation.  Please click here to see the prior post in this series.

The previous installment in our series on labor law issues for the transit employer considering automation discussed the Federal Transit Act.  That Act, in part, requires advance notice of proposed changes that may result in the dismissal or displacement of employees, or rearrangement of the working forces covered by the agreement as a result of projects subject to the Act.  This final installment discusses notice requirements under other laws and agreements.

Layoff and plant closing notification laws may apply when the decision to automate results in layoffs or the loss of jobs in certain numbers.  The federal Worker Adjustment and Retraining Notification Act (WARN) is one such law.  Some states and local governments have their own notice requirements, and collective bargaining agreements may also require notice or other benefits for affected employees.

WARN requires employers who anticipate a plant closing or mass layoff to give 60 days’ advance notice to affected workers or their labor union.  Employers must also notify the state dislocated worker unit and the appropriate unit of local government.

Employers are covered by WARN if they have 100 or more employees.  Private, public and quasi-public entities operating in a commercial context and separately organized from the regular government are covered.  Covered employees include hourly and salaried employees, and managerial and supervisory employees.

In brief, notice is triggered by:

  • A plant closing which is a shutdown of a single site (one or more facilities or operating units) resulting in the loss of employment for 50 or more covered employees in any 30-day period;
  • A mass layoff which is not a plant closing but results in the loss of employment for 500 or more employees in a 30-day period or for 50 to 499 employees who constitute 33 percent of those working at a single site; or
  • Employment losses which occur in a 30-day period for two or more groups of workers and fail to meet the threshold requirements for a plant closing or mass layoff but which together reach the threshold level, during any 90-day period, of either a plant closing or mass layoff.

Notices must be in writing and must include:

  • Whether the planned action is expected to be permanent or temporary;
  • Whether the plant is being closed;
  • The expected date the plant closing or mass layoff will commence, as well as the date that the affected employees will be laid off or terminated (or set forth a two-week window during which the termination will occur);
  • An indication as to whether or not bumping rights exist; and
  • The name and telephone number of a company official who can be reached for further information.

Penalties for violations include back pay and benefits to each aggrieved employee for the period of violation up to 60 days.  Failure to provide notice to the local government results in a penalty not to exceed $500 for each day of violation.

WARN does not preempt, it supplements, state and local requirements and collective bargaining agreements that require other notice or benefits. 

State or local laws (sometimes called “mini-WARN acts”) may require advance notice to employees of impending layoffs and plant closings or relocations.  They often apply to smaller employers than the federal WARN Act.  They may require more than 60 days’ advance notice, or require more information be provided to government agencies than WARN requires.  On the other hand, some of these laws merely urge employers to comply with voluntary guidelines.  At least 18 states currently have some type of plant closing or mass layoff law.  Employers with affected operations in these states who are contemplating automation should familiarize themselves with these laws as well as the federal WARN Act.

For more details, check back for the next post in this five-part series.  For a more in-depth analysis and overview, please refer to our white paper, Labor Law Issues in Deciding to Automate Mass Transit Operations.

Source: https://www.fisherphillips.com/autonomous-vehicles-blog/when-the-loss-of-jobs-requires-transit

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China Bans Payment Firms From Crypto Business

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China has banned financial institutions and payment firms from engaging in business related to cryptocurrency transactions. It has also warned investors against crypto trading which it has described as speculative.

This ban means that entities like banks will not be allowed to offer clients cryptocurrency services.

The move comes at a time when China has a well-developed central bank digital currency program, which many consider to be world-leading.

This is a developing story. Check back for updates. 

Source: https://decrypt.co/71255/china-bans-payment-firms-from-crypto-business

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Market Analysts Say Bitcoin Holders Are Adding On Dips, Noobs Panic Sell

Market Analysts Bitcoin Holders

Rate this post The leading market analysts believe that the long-term holders of Bitcoin are adding the cryptocurrency on dips whereas the people who are beginners are selling the digital assets. The noobs in the crypto industry are selling off their asset and are losing their positions due to the panic situation in the market. Bitcoin Holders Stacking Up, Tells Market Analysts Well, the prices of the leading cryptocurrency seem to have stabilized over the past 24 hours as the panic selling has lowered and the noobs appear to have been pushed out of the market. At the time of writing this article, the price of bitcoin is $45,400, which is up 5% since yesterday, and its low during this period of correction went to as low as $42K on May 17. In addition to this, it should be noted that the correction has already shed 35% in 35 days which ultimately declared it to be the largest one of the current rally and almost copying a likely correction that occurred during the year 2017. Using the data from the weekly report of Glassnode, the analysts have confirmed that the recent entries in the market have surrendered at a loss while the long-term holders have continued to make purchases at the dips. Weak Hands and Noobs Panic Selling  In response to the tweet shared by the owner of Tesla, Elon Musk, heavy selling was witnessed in the market that ultimately led to the tumbling in the prices of Bitcoin to their lowest levels in 20 weeks. Glassnode, the on-chain analytics provider mentioned that the total number of addresses holding a non-zero BTC balance has also retreated from its ATH of 38.7 million as over a million traders in the market elucidated their positions.  Along with this, Glassnode stated: “A total of 1.1M addresses have spent all coins they held during this correction, again providing evidence that panic selling is currently underway.”

The post Market Analysts Say Bitcoin Holders Are Adding On Dips, Noobs Panic Sell appeared first on Cryptoknowmics-Crypto News and Media Platform.

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The leading market analysts believe that the long-term holders of Bitcoin are adding the cryptocurrency on dips whereas the people who are beginners are selling the digital assets. The noobs in the crypto industry are selling off their asset and are losing their positions due to the panic situation in the market.

Bitcoin Holders Stacking Up, Tells Market Analysts

Well, the prices of the leading cryptocurrency seem to have stabilized over the past 24 hours as the panic selling has lowered and the noobs appear to have been pushed out of the market.

At the time of writing this article, the price of bitcoin is $45,400, which is up 5% since yesterday, and its low during this period of correction went to as low as $42K on May 17.

In addition to this, it should be noted that the correction has already shed 35% in 35 days which ultimately declared it to be the largest one of the current rally and almost copying a likely correction that occurred during the year 2017.

Using the data from the weekly report of Glassnode, the analysts have confirmed that the recent entries in the market have surrendered at a loss while the long-term holders have continued to make purchases at the dips.

Weak Hands and Noobs Panic Selling 

In response to the tweet shared by the owner of Tesla, Elon Musk, heavy selling was witnessed in the market that ultimately led to the tumbling in the prices of Bitcoin to their lowest levels in 20 weeks.

Glassnode, the on-chain analytics provider mentioned that the total number of addresses holding a non-zero BTC balance has also retreated from its ATH of 38.7 million as over a million traders in the market elucidated their positions. 

Along with this, Glassnode stated:

“A total of 1.1M addresses have spent all coins they held during this correction, again providing evidence that panic selling is currently underway.”

READ  Price of XRP Increases By 17% Bringing Stellar To A New Peak

#Bitcoin #Bitcoin Holders #Market Analysts

Source: https://www.cryptoknowmics.com/news/market-analysts-suggests-bitcoin-holders-are-adding-on-dips-noobs-panic-sell/

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Top Reasons Cardano Price could hit $5 soon. It’s Not Too Late to Buy

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Cardano has worked very hard to reach the $2 mark, and the crypto is working even harder to achieve $5, as many analysts believe it will.

With the dominance of Bitcoin dropping by the day, it may now be time for the altcoin season to really get going – we are already witnessing several altcoins reach all-time highs.

Even though the crypto space currently looks bearish, some analysts like Michael van de Poppe are hopeful that Cardano will maintain their bull run alongside other currencies, and possibly take the lead from bitcoin in the crypto market.

Can Cardano reach $5?

A growing body of analysis on Cardano shows that the cryptocurrency may breakout to reach the $5 mark soon.

According to the founder of Cardano, Charles Hoskinson, ADA demonstrates a positive price trend because the Cardano network will soon outperform Ethereum and Bitcoin. However, Hoskinson did not give a specific future valuation for the token.

Cardano has been giving Ethereum a run for its money because of its scalability, speed, and low gas fees. The platform is becoming a preferred option for DeFi developers turning away from Ethereum because of its high costs and transaction lags.

Another reason why ADA could reach the $5 mark is because of the implementation of the Mary upgrade. The upgrade is expected to transform Cardano into a multi-asset blockchain. It will also allow users to create NFTs for the very first time on the platform. The upgrade is expected to push the value of Cardano higher as more users sign up on the platform.

Looking at the price movement of Cardano, it is also evident that the token may be heading for an all-time high (ATH). Cardano closed the previous week, indicating a bullish trend. Currently, the price of ADA has broken the $2 upper barrier, which means that lower support levels will also need maintenance.

According to Rekt Capital, a cryptocurrency trader and analyst, ADA is likely to breakthrough and soon form a new ATH.

Looking at ADA’s price movements in recent weeks, the token has gained by a significant percentage. This is expected to progress into the future as people start looking for altcoins to escape from the bearish Bitcoin rally. As it has already smashed the $2 value, the $5 value is not too far away.

Another analyst that has also shown optimism regarding ADA prices is Cryptogeek. According to the firm, Cardano’s price will appreciate and hit $4 and $5 values by 2023 and possibly $10 by 2025.

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Source: https://insidebitcoins.com/news/top-reasons-cardano-price-could-hit-5-soon-its-not-too-late-to-buy

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