CLIENT SPOTLIGHT: Factory Five Racing

Factory Five Racing was founded in 1995. Over the years they have grown from a start-up business in a small garage to become the world's largest manufacturer of "build-it-yourself" component car kits. They employ a full-time crew of about 40 people, and are located in Wareham, Massachusetts (about an hour south of Boston). They make their products right here in the USA, in the heart of New England where American manufacturing was born.
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Fred and Danny Magnanimi grew up watching their father create beautiful, handcrafted jewelry in the family's Cranston, RI jewelry manufacturing business. When the boys grew up, Fred moved to New York and began working on Wall Street as an investment banker, while younger brother Danny, still enamored by the family business, stayed home. Increased competition from overseas businesses created significant challenges for the business, but Danny was confident he could find a way for the family business to evolve and thrive. This was his mission, this was his passion.
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        Change to Calculation of Wages for Commission-Based Employees

        In an article which appears in this month’s issue of The Standard, PS&H Attorneys Brian Reilly and Brian Fishman discuss developments in Massachusetts’ law that could impact insurance companies with commission-only employees.

        In May 2019, the Massachusetts Supreme Judicial Court issued a decision interpreting the method for calculating overtime wages for Massachusetts commission-only employees. The article explains the details of the SJC decision, points out that employers who miscalculate overtime wages may open themselves to liability, and cites an example of the practical implications of the new interpretation, as evident in a February 2020 settlement.

        The article highlights that Massachusetts Governor Charlie Baker proposed a bill to clarify Massachusetts law with respect to calculation of overtime wages but that the relevant language ultimately was not passed by the legislature, leaving continuing uncertainty for employers.

        Finally, the article points out that it is imperative for insurance industry employers to review their compensation practices with respect to commission-only employees to ensure that those employees are being paid the correct amount of overtime wages.

        A pdf version of the article can be viewed here. The full issue of The Standard can be viewed here. (Subscription required.)