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Paul Zimmerman

Showing 4 posts from January 2022.

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Hackers to the Rescue: An Overview of Bug Bounties

For far too many companies worldwide, computer hacks are an inevitability. Indeed, some experts place the statistical probability of a data breach at around 30%, which means potentially devastating trouble is lurking for nearly one in three businesses, both domestically and overseas. And when cybercriminals do infiltrate corporate computer systems, the resulting price tag can be substantial—recent estimates suggest that, on average, each breach costs companies in excess of $3 million.

The good news is that organizations in the private and public sector have at their disposal an arsenal of tools to combat cybercrime. Among them are so-called bug bounty programs, a lesser known but increasingly used method of identifying and fixing network vulnerabilities. (Read More)

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Proxy Wars: Climate, Diversity Among Top Considerations for Institutional Investors

The securities professionals at Michelman & Robinson, LLP have identified certain policy items of importance to institutional shareholders going into 2022. These policies, flashing brightly on investor radar screens as they consider proxy statements soliciting votes, are set forth below.

In our estimation, public companies—those with significant blocks of institutional shareholders—that fail to pay heed to the guidelines discussed in this post may be unable to secure the proxy votes they need during proxy season and otherwise. As such, it is recommended that annual reports issued and the proxy statements filed by listed companies cover all of the following. (Read More)

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Contracts Are Now A Must for Domestic Workers in Chicago

The new year has brought with it a new law impacting all those in Chicago who employ domestic workers.

 Effective January 1, anyone who engages a housekeeper, nanny, caregiver or home health service provider in the Windy City must provide that worker with a written contract (in their primary language) that spells out the wage and work schedule agreed upon by the employer and the individual under their employ. Notably, such an agreement is mandated whether the domestic worker is considered to be an employee or independent contractor. (Read More)

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Is It Time to Ban Cellphone Bans? Recent Events at Amazon Are Instructive

Bans on the use of mobile phones at work aren’t a new concept. For years, employers across industries have barred employees from not only using, but even possessing cellphones while on the job. This includes Amazon, which—until recently—prohibited them in their warehouses.

The reasons for such a policy vary but include the adverse impact mobile phones could have on employee productivity (they can serve as a distraction), company security and overall privacy. As such, employers in several different sectors—manufacturing, hospitality and trucking, among them—say no to employees inclined to grab their smartphones to make calls, text or check headlines while actually working. (Read More)