CD Italia Launches M&M Italian Design: Merging Italian Elegance with American Craftsmanship

By CD Italia

CD ITALIA is pleased to announce the launch of a significant economic development project specifically related to the Italian Design sector in the Unites States. With the recent establishment of M&M Italian Design, Moreno Modolo, CEO of CD Italia and M&M Italian Design, will merge Italian elegance with American craftsmanship, revolutionizing the furniture landscape. By partnering with top American manufacturers, M&M will offer premium Italian-design pieces, locally crafted in the U.S. – Modolo’s vision will ensure luxury accessibility, with a curated selection combining Italian sophistication and American reliability.

Through a multi-channel distribution network, involving a range of industry operators and ambassadors of Italian design, as well as a new network of franchise distributors, M&M will bring Italian Design to the American Design Society, significantly reducing logistics times and costs from Italy to the USA. The project aims to become an authentic Italian version of the acclaimed French model Roche Bobois.

With almost thirty years of experience in the Italian furniture industry, we are proud to join forces with the productive expertise of American artisans in what we like to call “A strongly Italian-inspired project” made in the USA.

Moreno Modolo, CEO of CD ITALIA since 2015, has been operating in the United States since the year 2000, when he began his professional career within the Italian design production sector. After a rapid career rise, he concluded his executive journey at the helm of Club House Italia with the Fendi and Kenzo Maison brands. From there, he started his entrepreneurial journey, first in Italy with Corte Diamante, a strategic consulting and internationalization company in the furniture sector, and then with CD Italia in Miami. Today, CD Italia represents famous Italian and European furniture brands in the United States, for which Moreno Modolo has opened distribution with over 500 partners across the USA.”

New Overtime Exemption Rule: Evaluating Your Options for Compliance

By ADP

The U.S. Department of Labor (DOL) recently released a final rule that will increase the minimum salary required for administrative, professional and executive employees to be exempt from overtime. The final rule increases the minimum salary requirements first on July 1, 2024 and then again on January 1, 2025. With the first change less than two months away, now is the time to evaluate your options. Here are some guidelines for doing so.

Overview of changes

Effective July 1, 2024, the minimum salary for the administrative, professional and executive exemptions will increase from $684 per week to $844 per week (equivalent to $43,888 per year). 

Effective January 1, 2025, the minimum salary required for these exemptions will increase from $844 per week to $1,128 per week (equivalent to $58,656 per year).

Employers continue to be permitted to use non discretionary bonuses, incentive payments and commissions to satisfy up to 10 percent of the minimum salary requirement for the administrative, professional and executive exemptions, as long as these forms of compensation are paid at least annually.

Note:  Employees must also satisfy certain duties tests to be classified as exempt from overtime. The final rule didn’t change these duties tests.

Two options

If your exempt administrative, professional and executive employees’ salaries fall below the new federal salary requirement, you will generally either have to:

  • Raise their salaries to the new requirement (if you elect this option, review employees’ job duties to ensure they continue to qualify for the applicable exemption); or
  • Reclassify the affected employees as non-exempt and pay them overtime whenever they work more than 40 hours in a workweek.

Below we cover these options in detail.

Raising salaries

The option of raising salaries may be more cost-effective if the employee’s current salary is already close to the new minimum and/or they regularly work more than 40 hours per week.

If you elect to raise an exempt employee’s salary to meet the new minimum, review their job duties to ensure they continue to qualify for an exemption. You can use our calculator to estimate the costs of this option by simply entering your employees’ current salaries.

For many employers, raising employees’ salaries to the new minimum required salary may create wage compression (a situation that occurs when employees have similar salaries despite different qualifications or experience). Therefore, if you substantially increase some employees’ pay, other employees may have questions about why their pay isn’t increasing.

You should review the compensation of employees paid below the new threshold and may also want to consider, from an employee relations and financial perspective, raising the salary of other employees (particularly those paid slightly above the new required minimum) and communicate any such changes accordingly.

Reclassifying employees as non-exempt

If exempt employees don’t meet the new salary requirement, you can reclassify them as non-exempt and pay them overtime whenever they work more than 40 hours in a workweek. This option may be cost-effective if employees’ current salaries are far below the new requirement and/or they rarely work overtime.

To help determine whether it will cost less to raise employees’ salaries or reclassify the employees as non-exempt:

  • Get an accurate picture of the hours exempt employees typically work per week. Factor in peak periods for your business and all the time that is considered “hours worked.” Under federal law, employers must pay non-exempt employees not only for time actually spent working, but also for certain nonproductive time. For example, under certain circumstances, travel time and time spent performing preliminary or postliminary activities can be deemed compensable work time for non-exempt employees.
  • Use our calculator to help estimate the costs of raising salaries versus reclassifying employees.

If reclassifying employees makes the most sense for your business, you can simply convert their salary to an hourly wage (divide their weekly salary by 40 hours) and pay them overtime whenever they work more than 40 hours in a workweek. However, if these employees regularly work more than 40 hours per week and you want to keep your compensation costs the same, then you would need to account for the overtime premium when you reclassify them as non-exempt.

To take this cost-neutral approach, you can use this simple formula:

Weekly Salary

__________________________

[40 hours + (Overtime Hours Worked Per Week x 1.5)]

Here’s an example:

An exempt employee’s current salary is $770 per week, the employee regularly works 50 hours per week, and you want to convert this employee to an hourly employee but keep your costs the same. You would calculate the hourly wage as follows:

$770 Weekly Salary

______________________ = $14 hourly rate

[40 hours + (10 overtime hours x 1.5)]

Note:  Employers have the option of paying non-exempt employees on a salary basis as long as the employee is paid at least the minimum wage for all hours worked and overtime when they work over 40 hours in a workweek. If you pay non-exempt employees on a salary basis, you must ensure that all time worked is accounted for and that the employee is paid overtime when due.

Options for highly compensated employees

There is also a special exemption for “highly compensated employees” who have a total annual compensation of a specified amount and regularly perform at least one of the exempt duties or responsibilities of an exempt executive, administrative or professional employee.

Effective July 1, 2024, the minimum total compensation requirement for the exemption will increase to $132,964 per year, including at least $844 per week that must be paid on a salary or fee basis.

If your exempt highly compensated employees’ weekly salary is less than $844 as of July 1, 2024, you generally must either raise their salaries to $844 per week or reclassify them as non-exempt. If your exempt highly compensated employees’ weekly salary is at least $844 but their total annual compensation is less than $132,964 per year, you generally have three options:

  • Raise their total annual compensation to $132,964 per year (if you elect this option, review employees’ job duties to ensure they continue to qualify for the highly compensated employee exemption);
  • Reclassify the affected employees as non-exempt and pay them overtime whenever they work more than 40 hours in a workweek; or
  • Apply the full duties tests of the administrative, professional or executive exemptions. If the employee satisfies the full duties test of one of these exemptions, you can consider reclassifying them as exempt under one of these exemptions and keep your compensation costs the same by meeting the new weekly salary requirement for those exemptions, rather than raising their total annual compensation to $132,964 per year. If the employee cannot completely satisfy the full administrative, professional, or executive duties test, then select one of the first two options.

Note: Effective January 1, 2025, the minimum total compensation requirement for the exemption for highly compensated employees will increase to $151,164 per year, including at least $1,128 per week that must paid on a salary or fee basis.

Conclusion

If you have one or more exempt employees who earn a weekly salary of less than the new minimum requirement, you should evaluate your options for complying with the final rule. Keep in mind the final rule includes a mechanism to automatically update the salary and total compensation thresholds every three years. 

The final rule will likely face legal challenges. We will be monitoring the status of the rule closely and updating our FLSA and Overtime Exemption Rule Guide as any developments unfold.

Barovier&Toso presents the Inspirations project dedicated to Art Déco

By Barovier & Toso Usa LLC

Barovier&Toso, one of the oldest family-owned companies in the world and pioneers in the art of Murano glassblowing unveils its latest endeavor, the Inspirations Project, aimed at celebrating the timeless elegance and sophistication of its creations. This innovative project takes a focused approach, beginning with the first chapter dedicated to the iconic Art Déco style.

The Inspirations project is a curated collection that divides Barovier&Toso’s extensive offerings into subsets, each with distinct characteristics and themes. These digital volumes, presented as mini-catalogues, serve as evocative microcosms of interior design trends, showcasing how Barovier&Toso’s creations can shape unique and sophisticated living spaces.

Within the Art Déco volume, customers, designers, and professionals are treated to a visual journey through 20 elegant and sensual collections. Paying homage to the glamorous era of the 1920s and 1930s, this chapter captures the essence of Art Déco, a style highly coveted in today’s interior decoration landscape.

The introduction of the Art Déco volume features captivating imagery sourced from the Barovier&Toso historical archive. These images highlight products that played a pivotal role in shaping the aesthetic of the Art Déco period and continue to inspire contemporary collections such as Vertigo, Metropolis, and Empire.

As the Inspirations project unfolds, future chapters will explore themes such as the timeless allure of gold and the enduring popularity of floral motifs in Murano glass. Each chapter serves as a testament to Barovier&Toso’s rich heritage and unwavering commitment to craftsmanship and innovation.

Barovier&Toso’s Inspirations project not only showcases the company’s diverse range of styles, designs, and colors but also provides customers with valuable insights and inspirations for creating sophisticated interiors. With its dedication to preserving tradition while embracing modernity, Barovier&Toso continues to captivate audiences worldwide with its unparalleled creations and timeless elegance.

Webinar in occasion of the mental health month

By Consea America

As we observe mental health awareness month, we are offering a unique 90-minute workshop on the transformative power of emotional intelligence.

You and your team can benefit by this program that will equip you with the tools to harness your EQ, effectively manage stress, and achieve your goals. It’s a small but significant way to show that we value their individual growth and well-being.

Consea America, a leading Italian Executive Search firm with offices in the US and globally, through its Human Capital Consulting Division and its partner Cometa Coaching, develops customized solutions for its clients in Talent Acquisiton , People Strategy and Management. 

As proud member, we built a special price for all the IACCSE members. If interested, please, contact us at a.cerabona@consea-group.com

Navigating the Complexities of Import-Export into the USA

By DVA Express

In the realm of international trade, where efficiency and accuracy are paramount, navigating the importation landscape between Italy and the USA presents a unique set of challenges. From fluctuating tariffs to complex customs procedures, businesses engaging in cross-border trade require robust solutions to streamline their operations. Fortunately, DVA Express services offer innovative solutions tailored to address these challenges head-on through their Easy Dogana and DVA Wine services.

Easy Dogana emerges as a game-changer in simplifying the import-export process between Italy and the USA. With its advanced analytical tools and automation, Easy Dogana empowers businesses to navigate customs duties and Harmonized System (HS) codes with ease. By providing real-time duty and tax calculations, businesses gain transparency in their logistics costs.

Central to Easy Dogana’s effectiveness is its AI-driven approach to item classification. By automating customs calculations through HS code categorization, it optimizes tax assessments and ensures precise estimations, saving time and resources while enhancing trade efficiency. Additionally, its multilingual and multi-currency capabilities facilitate effective communication and documentation, reducing risks and simplifying compliance.

Despite the allure of Italian wines and the growing demand for them in the American market, navigating the intricacies of international trade regulations, customs procedures, and logistical considerations can present significant difficulties for importers.

From securing licenses and permits to managing logistics and customs clearance, DVA Wine’s services aim to make the importation process as smooth and hassle-free as possible. Ultimately, these services facilitate access to the lucrative American wine market for Italian producers, fostering international trade relations and driving economic growth.

In a rapidly evolving global marketplace, Easy Dogana and DVA Wine stand out as beacons of innovation, offering tailored solutions to simplify import-export operations between Italy and the USA. By leveraging technology and expertise, these services empower businesses to thrive in the dynamic world of international trade, driving efficiency, and facilitating seamless global connectivity.

Why More Companies Are Putting Lego Bricks in the Office

By Skillme Up

This is the title of an interesting article that appeared in the Wall Street Journal (www.wsj.com/articles/why-more-companies-are-putting-lego-bricks-in-the-office-11661638344) some time ago, explaining why “Executives believe that bringing colorful brick toys helps with creativity, anxiety, and communication.

In recent years, businesses have shifted their approach to employee engagement, team building, and skill development through the use of “Serious Play”. So, after two decades and numerous workshops globally, LEGO® SERIOUS PLAY® seems to have finally achieved the recognition it deserves in terms of universal acceptance as an innovative and effective methodology.

Although using LEGO® bricks in business may seem unusual, LEGO® SERIOUS PLAY® fosters strategic thinking, idea generation, and effective communication.

It’s rooted in research showing that hands-on, minds-on learning enhances understanding, aligning with the complex adaptive system view of the world.

Since becoming certified in 2016, we been passionate about this methodology, trying to apply/integrate it in various contexts, including sales, which is my field of expertise, creating modules like “handling objections,” “value selling,” and “customer journey.”

This approach engages salespeople who may find traditional classroom settings uninspiring. Salespeople possess vast knowledge about markets, customers, products, and techniques, but often struggle to apply it effectively. LEGO® SERIOUS PLAY® bridges this gap by activating their creativity and problem-solving abilities, unlocking hidden treasures of insight and innovation.

LEGO® SERIOUS PLAY® revolutionizes thinking processes, unveiling and reshaping ingrained beliefs and values to create a shared understanding.

It fosters creativity and innovation by providing a non-judgmental space for exploring new ideas. Through hands-on building, individuals visually represent abstract concepts, leading to breakthrough insights.

3D construction enables the simulation of real-world scenarios, clarifying strategies previously obscured. This experiential learning enhances problem-solving skills and confidence.

Beyond its practical benefits, LSP also impacts organizational culture, reinforcing core values and fostering unity. This shared experience leads to a more cohesive workplace culture, driving organizational success in today’s fast-paced business landscape.

IF YOU ARE MATURE ENOUGH TO PLAYjoin Skillmeup on Apr 26th for a free demo at the IACCSE office.

Enrollment is limited to a maximum of 12 participants, so secure your spot now!

In the meantime, if you want to learn more, please get in touch with me at rachele.skillmeup@gmail.com.

EXP Legal and Polimeni & Bianchi Fasani forge new Italy-U.S. alliance for global legal services

By EXP Legal

EXP Legal Law Firm and US attorneys Alberto Polimeni and Beatrice Bianchi Fasani are proud to announce their strategic alliance and, effective 2024, the establishment of “EXP Legal with Polimeni & Bianchi Fasani, PLLC”, with offices in RomeMilan and Miami.

This partnership creates a multi-practice firm with both Italian and American professionals, building upon Polimeni, Bianchi Fasani and EXP Legal’s extensive experience in the Italian and American markets, particularly in Florida.

In announcing the strategic alliance, Antonello Corrado, Managing Partner of EXP Legal, emphasized the significance of this partnership in the context of the firm’s international expansion: “This alliance represents a significant step in our commitment to providing comprehensive and tailored legal services to Italian businesses aiming for expansion in the United States and vice versa. We are excited to join forces with a team of high-caliber professionals like Alberto Polimeni and Beatrice Bianchi Fasani to deliver top-notch legal solutions that ensure the success and prosperity of our clients in such a dynamic and competitive market as Florida and the United States at large”.

Alberto Polimeni and Beatrice Bianchi Fasani will lead EXP Legal Miami office and join the firm as partners, enhancing the Departments of Corporate and Business Law, Taxation and Tax Planning, Immigration Law, and Litigation & Arbitration.

With a special focus on cross-border corporate operations, the firm is now poised to offer in the two jurisdictions a full range of legal services, including M&A, corporate law, contract law, international trade law, real estate, tax planning and compliance, litigation & arbitration, estate and asset protection planning, paymaster services, and immigration law.

Introducing Hy-C® Energy Booster: Rejuvenating Your Skin from Within

By Eye Pharma

Eye Pharma has recently partnered with the  former Italian tennis champion Flavia Pennetta to promote their latest products, Hy-C®. This cutting-edge dietary supplement, meticulously crafted by Eye Pharma, aims to revolutionize skincare, providing protection against the inevitable signs of aging and shielding the skin from the detrimental effects of UV rays.

Hy-C® is an energy booster designed to replenish what the aging process tends to take away – the vitality of youth. This “ready to use” antioxidant booster is presented in convenient single dose vials, delivering a powerful combination of ingredients to revitalize your skin. 

Ingredients:

Hy-C® stands out with its unique blend of ingredients, carefully selected to combat the effects of aging. The booster contains hyaluronic acid, derived from bacterial fermentation (not from animal sources), and an extract of red oranges sourced from the Mount Etna in Sicily. 

How to Use:

The Hy-C® booster is incredibly user-friendly, it can be consumed directly from the vial or diluted in water, making it convenient for those on the go. This booster provides a direct infusion of essential nutrients, working in harmony with the body to counteract the signs of cellular aging, photoaging, and chrono-aging.

Nutricosmetics Trend:

Hy-C® is at the forefront of the nutricosmetics trend, emphasizing the importance of systemic care that addresses internal deficiencies. Paired with Hy-C® Cream, a specialized eye contour product, this duo embraces the concept of providing the body with what it naturally loses over time. The booster goes beyond the surface, enhancing the efficacy of the cream. 

Replenishing Lost Components:

One of the key components in Hy-C®, hyaluronic acid, experiences a physiological decline starting around the age of 25, and we cannot replenish it through diet alone. By working deeper than traditional creams, Hy-C® not only amplifies their effectiveness but also speeds up recovery times, augmenting the outcomes of aesthetic treatments.

Hy-C® is readily available for purchase online or at your local Med Spa.

For more information about Hy-C® please click on the following link: https://hy-c.info

Eye Pharma Online Shop:https://shop.eyepharma.us

Strengths & Weaknesses of Italians at Work

By Yer USA

Cultural differences could impact the workplace. Understanding your own cultural strengths and weaknesses can positively improve collaboration among diverse teams.

The strengths of Italians at work:

Creative problem solving: Italians are creative by nature. They are excellent in providing solutions especially when there is no process or procedure in place!

Work & Play: Italians work long hours. They are committed employees and generally care about their workplace. Italians nature encourages personal relationships and exchange. Coffee breaks are frequent, and they are almost never taken alone because they are about enjoying an espresso while exchanging few words or jokes with coworkers.

Sense of the Aesthetic: Italians have a great sense of beauty. It might be ingrained in their DNA. They produced some of the most important artists of all times.

Interpersonal skills: Italian culture is relationships-based. Trust is earned slowly. A referral can make a world of difference when starting a new business relationship.

The weaknesses of Italians at work:

“Italians have weaknesses?” asked a client when I told him about my new article.

“Should I put conceited under strengths?”, I replied with a smirk. No further comment needed!

Discipline: Italians tend to lack structure. It is not uncommon to prepare an agenda for a meeting and end up discussing other topics. They have visions and ideas, but they may get lost during execution.

Bluntness: Italians can be confrontational and openly criticize others. They do it with good intentions, though. To them directness is a synonym of honesty and transparency. However, others may perceive their bluntness as rudeness.

Decision-making: Italians are slow decision-makers. During a meeting everyone is encouraged to express an opinion but after an animated discussions there is only one person that makes the final decisions. This is because Italian society is still hierarchical.

Ivana Lodovici is an international headhunter, interviewing coach, resume writer, and cross-cultural recruiting consultant. 

Contact her at ivanalodovici@yer.com to engage her in a search or book a speaking engagement.

Navigating the Corporate Transparency Act: Key Compliance Requirements and Implications for Businesses

By Silvestri International Corp

Effective January 1, 2024, the Corporate Transparency Act (CTA) will require companies formed through document filings with the relevant Secretary of State or registered according to foreign state regulations, operating in the USA, and not falling under any of the 5 exempt categories (Reporting Company), must submit “Beneficial Ownership Information” (BOI) to the Financial Crimes Enforcement Network (FinCEN), a division of the Department of the Treasury. This data comprises the names, dates of birth, residences or business addresses, and copies of identification documents for the beneficial owners of the Reporting Company.

The CTA defines a beneficial owner as any individual who, either directly or indirectly, through contracts, agreements, or other relationships, holds substantial control over the company or owns/controls a minimum of 25% of its corporate shares. Substantial control over a Reporting Company is deemed to be exercised by any individual who:

  • Holds a senior officer position;
  • Has the power to appoint or remove an officer or the majority of the Board of Directors;
  • Has decision-making powers over significant business activities;
  • Exercises any other form of substantial control.

Companies established before January 1, 2024, are required to file a Beneficial Ownership Information (BOI) report by January 1, 2025. For those formed during the calendar year 2024, the report can be submitted within 90 days of their formation and registration. Starting January 1, 2025, new companies must file the BOI report within 30 days of their establishment.

While we understand the objective of promoting financial transparency, it is crucial to emphasize that this new regulation differs significantly from the BE-12 Benchmark Survey requested for statistical purposes in the year 2023. The distinctions go beyond the required information, the recipient entity, and the scope, encompassing applicable sanctions as well.

Failure to report or the submission of false information may result in civil penalties of up to $500 per day or criminal penalties, including imprisonment for up to two years and a fine of up to $10,000, imposed on the senior officers of non-compliant companies.

Attorney Bartolomeo Pizzoli

Accessibility Toolbar