News and Ideas to Keep Your Business on
The Cutting Edge
|
|
TOWN HALL DISCUSSION:
COVID-19 Federal Small Business Relief
The National Lumber & Building Material Dealers Association (NLBMDA) is hosting an industry Town Hall event on Thursday, August 13 to provide dealers with information on small business relief programs and congressional relief legislation. The Town Hall discussion will also review how dealers can access federal resources and offer guidance on applications, federal agency resources and other important information.
Dealers may submit questions to the NLBMDA government relations team in advance and the questions will be addressed during the Town Hall discussion.
The Town Hall Discussion will be held on Thursday, August 13 at 3:00 p.m. (ET). To register for this
|
|
Ever wonder how the FMLA and workers’ compensation stack up?
|
|
An employee is injured at work. Logically, you begin thinking about taking care of the employee as well as the workers’ compensation (WC) implications. Maybe, just maybe, you wonder about the FMLA. Should you consider both WC and FMLA? If so, why?
The FMLA and workers’ compensation laws have very different provisions. Therefore, many occupational injury/illness situations could also involve the FMLA.
Ever wonder how WC and the FMLA compare? Well, here is a table that points out some of the major differences and similarities of the FMLA and WC for many employers and employees.
|
|
This is a 30,000-foot look at how these provisions relate. As is often the case, much will depend upon the specific facts involved in a particular situation. If an occupational injury or illness has the possibility of being a serious health condition under the FMLA, you should respond as you would any notice of the need for FMLA leave in addition to tackling the WC duties. An employee could be entitled to benefits and protections under both, and failure to provide them could risk a claim.
(Source: www.fmlamanager.com, July 2020)
|
|
NLBMDA Member Alert:
SBA Releases Guidance on PPP Loan Forgiveness
The Small Business Administration (SBA), in consultation with the Treasury Department, issued guidance to address frequently asked borrower and lender questions concerning forgiveness of Paycheck Protection Program (PPP) loans. The FAQ guidance document can be accessed here.
Borrowers may rely on the guidance provided in this document as the SBA’s and Treasury Department’s interpretation of the CARES Act, the PPP Flexibility Act, and the PPP Interim Final Rules.
For any questions, please contact Director of Government Affairs Kevin McKenney at kevin@dealer.org.
(Source: NLBMDA Member Alert, August 2020)
|
|
The “Best of the Best” in the Industry…
Regardless of the role you play within your business, whether it’s management, financial, operations, or HR, it’s always helpful to hear from people in similar companies and similar roles to yours. We all want to learn “best practices” from others who have more experience than we do or who have been particularly innovative. Having a group to network with is one of the primary benefits of any association and something BMSA works hard to provide.
We’ve already discussed the benefit of taking a poll of your peers regarding an issue of concern through our Dealer Helping Dealer program. Now, I want to highlight our Panel Discussions, which are another way that BMSA supports your networking needs.
If you joined us for the Virtual BMSA Summer Conference in July, I hope you attended the session: “Coming through the Storm Stronger: A Panel on Current Conditions & What Will Stay with Us”. Let’s look at the wealth of knowledge and experience of those who made up that panel:
- Roger Bates: CFO of Tindell’s Building Materials. Tindell’s serves East Tennessee in Knoxville and Chattanooga. They have 4 lumber yards, a truss plant, door shop, distribution facility and a distribution center. Tindell’s has 215 employees and a sales volume of $65 million.
- Tim Huff: CFO of the Building Center with 2 locations in Gloucester & Essex, MA. They serve the Gold Coast north of Boston with 46 employees and a sales volume of $20 million. Tim is a fourth-generation owner/operator.
- Van Isley: CEO of Professional Builders Supply based in Morrisville, NC. PBS has 10 locations throughout the Carolinas. They’ll do about $385 million with 580 employees.
- Dick Jennings: Owner of Jennings Building Supply. The company serves Western North Carolina from 4 locations. They have 196 employees and will do about $100 million in sales volume this year.
- Jeff McLendon: President & CEO of U.S. Lumber, a specialty building products distributor. The company is headquartered in Atlanta and has 26 locations in Eastern and Northern North America. U.S. Lumber has 2200 employees and sales volume of $1.5 billion.
Listening to these seasoned leaders share their take on how COVID-19 has affected global supply chains, finances and their individual businesses was enlightening and inspiring. Attendees left the session with information on the following topics which are undoubtedly applicable and timely for their businesses:
- COVID initiated changes in day to day business and methods of frequent communication with employees,
- Rapid creation of an on-line “store” allowing for 24-7 sales and reducing person to person contact,
- Importance of having cash on hand, staying on top of AR, debt and taking advantage of the low cost of money,
- Changes in the supply chain and builder’s responses to COVID,
- Current states of nationalism, protectionism and the need to be strategic vs. transactional.
This is just the most recent Panel Discussion BMSA has provided for our members. In the past we’ve pulled together the “best of the best” in sales, cybersecurity, vender/dealer relationships and lean initiatives, just to name a few. So, keep your eyes and ears open for upcoming Panel Discussions and take advantage of rubbing shoulders with the “best of the best” in the building material supply industry.
|
|
Toolbox Talks
BMSA's most requested safety service!!
|
BMSA's Toolbox Talk Safety Program is an annual subscription that includes everything you need to conduct a year's worth of safety meetings:
- 12 Industry specific, 1-page handouts
- Manager instruction/resource page for regulatory support
- Sign in sheets to satisfy documentation requirements
- 3-Ring binder to keep it all together
Special 2020 Introductory Offer: $199
Annual renewals $225
(2021 pricing: $250 for series 1)
|
|
|
|
|
|
|
|
|
