Author Archive: Jeremiah Long

4 Ways to Deal with Wrongful Dismissal

Due to the ever changing economy and high inflation rates, employee retrenchment is no stranger to any business. From Major firms and corporations to small start-ups and businesses. Sometimes, your employment is not as secure as you think.

The companies who have managed to keep and increase its employees seem to have good work environments complete with a good HR department. But in some cases, your employer or boss may seem to have something against you.

You try to maintain a level of mutual respect but somehow, it doesn’t work. Your boss seems to constantly and unfairly treat you compared to your colleagues. Next thing you know, you receive a dismissal letter from the HR department terminating your employment contract. This are some of the reasons that would make your dismissal be term as ‘wrongful’.

‘Wrongful’ termination by your employee

In some cases, reasons for termination are legitimate, as the employer has the right to fire anyone who violates the company’s policies. Drugs usage during office hours, poor work delivery and constant lack of punctuality are some of the top reasons for fair dismissal. However, wrongful dismissal is considered when ones work contract is terminated because of the following:

· Retaliating to another employee’s personal complaint that may not be true or may have been set up on false evidence

· Reasons that are in violation of the state and federal laws on anti-discrimination

· Threats and cases on sexual harassment by the employer or senior employees

· Dismissal in violation of any labour laws included in the constitution

· Termination in violation of any standard employment agreement and termination procedures that may be written or orally done

· Refusing to commit an illegal act on behalf of the employer

How to deal with wrongful termination

1. Do not act on impulse and revise your contract

Even though you might be confused or agitated, it is important that you do not retaliate or do anything negative to the employer. This may land you on the wrong side of the law which consequently leads you to quadruple the problem you had in the first place. Instead, spend time to peruse through your contract, noting down the violated terms of procedure and agreements made with the employer.

2. Inquire about reason for termination

It is important that you fully understand the reasons why you were fired. This will help you build a case against your employer in case the reasons are not as per the agreements in your employment contract.

3. Return all company property and belongings

This is crucial as it may lead to a breach in contract as you are no longer an employee of the company. Do not however allow to be intimidated or threatened but do not react impulsively. This is necessary for you to build a strong case and will tremendously help the final and last step

4. Find legal counsel

Contact Employment Lawyers, a workers union or a personal or family lawyer conversant with wrongful dismissal. They will assist you in the legal procedures that are required to build a case against your former company. They will help you draft legal documents that will allow you to obtain information that may have been barred from you before and launch an investigation. It is however important that you are completely honest about the reasons of termination because if any verified and factual evidence is found against you, you will have to face the law.

Larry Silverstein’s lawsuit drastically changes real estate insurance policy

The events of September 11, 2001 drastically changed the world in ways more than we can even imagine. But a lawsuit that was filed by Larry Silverstein, the developer who owned the WTC towers at the time of the terrorist attacks, against the insurance company asking for 7 billion dollars. The lawyers for the insurance companies, one of them being Swiss Re, argued that Mr. Larry Silverstein was only qualified to receive 3.5 billion dollars because that was real face value of the insurance coverage for the two towers.

But Larry Silverstein’s lawyers argued that since there was a 17 minute difference between the two plane crashes into the towers, the attacks constituted as two entirely different occurrences according to the terms mentioned in the insurance contract. Therefore, Larry Silverstein demanded that the insurance companies pay him the double of what the actual insurance coverage was, which amounted to 7.1 billion dollars.

The case was fought in court between the parties based on their different interpretations of the term “occurrence” with Larry and his lawyers arguing that it referred to the number of attacks whereas the insurance companies argued the exact opposite. The court split the insurance companies into two groups with two different trails each to determine whether the events of September 11 constituted as one occurrence or two according to the insurance policies.

The first trial ended up in the favor of the insurance companies in which the jury decided it was just one occurrence hence the developer will only receive the face value of the insurance coverage. Silverstein appealed against it and lost. But the second trail returned a judgment in Larry Silverstein’s favor declaring that there were two occurrences. So, in the insurance policies involved in the second trail, Larry got twice the face value insurance coverage.

The total amount Larry Silverstein was qualified to receive from the insurance companies totaled 4.6 billion dollars. Many conspiracy theories also emerged during the time of this trial, as apparently, Mr Larry had acquired the lease for the twin towers weeks before the attacks. Some people construed theories that Mr Larry Silverstein knew about the attacks, that is why he bought the lease in order to make money off insurance claim.

Anyhow, ever since the attacks and this case, the insurance policies in New York City and soon in major cities around the world had to be rewritten from scratch as before 9/11 there was no terrorism policy. But ever since then, every sale agreement, loan and insurance policy includes a clear terrorism policy.

This case was a landmark case in terms of real estate as it changed the insurance industry drastically, at least in major cities around the world, by forcing them to reevaluate their policies from scratch. Lawyers, banks, insurances companies everyone had reevaluate their policies and change the way they conducted their business in order to survive. Change in insurance policies, and increase of terror threats led to increased premiums, increasing the costs of purchasing, renting or loaning out properties.

It is ridiculous how one incident and one lawsuit can set such a precedent that affects so many industries simultaneously. Lawyers working during those days had to rewrite every single contract from scratch just to make sure their clients were covered in case of another unfortunate event.

Real Estate Trends in 2017

Real market analysts expect that the U.S. economy will show stronger signs of grow in 2017. The real estate sector may serve as the catalyst of this economic growth. The housing market represents around 15 percent of GDP. Up to date, the housing component of the economy hasn’t performed so well, because lending standards have remained tight in the wake of the real estate bubble. Developers who survived the crisis have remained cautious and reluctant to risk expanding again their operations.

According to experts, these trends will change in 2017. Here are some real estate trends expected to emerge this year:

1. More Credit Available
Due to looser lending standards, mortgage credit will likely become this year more widely available. It is expected that the Federal Housing Administration will lower fees charged from first-time homebuyers. This will continue the trend started during the Obama administration, when the first-time homebuyers’ fees were lowered in 2015. For the first time in over a decade, government-owned mortgage companies such as Freddie Mac and Fannie Mae will begin this year to back up larger mortgages. This will make it easier for buyers to finance their purchases in expensive markets.

2. Rising Rates
Since 2006, the Federal Reserve raised interest rates in December for only the second time. Most of the members of the Fed’s rate-setting board predict that in 2017 the interest rates will increase for three more times. Mortgage rates will also increase due to these decisions. For prospective homebuyers it will become more difficult to afford an expensive home. However, this trend is not making real estate market analysts worry too. The mortgage interest rates are expected to increase, but on the 30-year fixed rate they will probably be no higher than 4.3 percent.

3. More New Homes
While statistics regarding the new home constructions showed that in November last year builders pulled back on new projects, the overall trend remains clearly positive. In the year 2016, the average annual rate of new buildings reaching a 1.163 million rate. From 1.108 million in 2015, this figure is up around 5 percent. As home builders are encouraged by looser credit, higher wages, and increased buyer demand, this trend will continue in 2017.

4. Foreign Buyers Stay On The U.S. Market
In places like Los Angeles and New York, one trend that drives prices beyond affordability is the influx of foreign buyers. The number of affluent foreign buyers of U.S. real estate has increased lately. This trend is fueled in particular by Chinese buyers. They are driven away by repressive policies and slowing economy in their homeland and looking for safe places to store their wealth. Europe and the U.S. continue to attract Asian investors and growing amounts of foreign capital.

5. Medium-sized Cities Rise
Among the dominant trends of the current economic recovery is rise of medium sized cities. As workers come to these locations looking to take advantage of the employment market characterized by high-paying jobs, top-tier economic cities like San Francisco, Seattle and New York have seen property values rise. Those cities’ real estate markets are experiencing difficulties, because new construction cannot keep pace with demand due to local government regulations or geographic constraints. This makes the younger folks attracted to medium-sized cities that provide housing affordability. For instance, during the past six years, cities like Fort Collins, Colo. and Raleigh, N.C. have seen a booming in building permit issuance. This trend is expected to continue in 2017.