May 2023 Highlights:
Sanctions on the Supply
Once Russia invaded Ukraine in February 2022, sparking an unprovoked war, a number of world powers began formulating an economic response. To gain a better understanding of what — if anything — the Russian oil embargo may mean for ILMA members in terms of market volatility, raw material availability and potential long-term pricing changes, Compoundings spoke with Jim Eggenschwiler, principal consultant for global trade with Trinity Consultants.
ILMA blew past last year’s record attendance when nearly 600 members of the lubricant industry met in Tucson, Arizona, at ILMA Engage 2023 to discuss industry trends, share expertise, learn the latest on critical regulatory issues and identify ways to strengthen the industry. Catch up on what you missed, get a refresher on what you caught, and check out the photo spread full of smiling faces.
Business Hub: How to Recession-Proof Your Business
What are the best managerial moves in the face of a recession? The answers can be tricky. The currently looming recession is more complex than usual, with businesses getting squeezed from two directions. From the revenue side, a decline in receipts means less cash to cover expenses. From the cost side, rising prices are punching up operating expenses. For businesses, this unusual dynamic has created a treacherous operating terrain. Consultants advise several courses of action that could pay off.
Counsel Compound: The NLRB Cracks Down on Severance Agreements
Among its latest decisions, the National Labor Relations Board (NLRB) recently invalidated as being overbroad confidentiality and nondisparagement provisions in severance agreements used during layoffs and other involuntary terminations. While many employers, including ILMA members, have been focused on the pending proposal by the Federal Trade Commission to largely eliminate noncompete agreements, ILMA General Counsel Jeff Leiter says it is a good idea to review the language in your standard severance agreements to ensure that they can withstand scrutiny in any legal challenge based on the NLRB’s recent actions.
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