Eastman Celebrates Centennial by Ringing NYSE Bell

Eastman Chemical Company (Eastman) rang the Opening Bell at the New York Stock Exchange (NYSE) to commemorate its centennial anniversary on Tuesday. According to the company, Mark Costa, Eastman CEO and board chair virtually rang the bell due to COVID-19.

“It’s an honor to ring the NYSE Opening Bell to commemorate our 100th anniversary,” Costa said. “In this highly competitive industry, we owe our sustained success to the dedication of our talented employees, our loyal customers and suppliers, and supportive global communities. We are committed to entering our next centennial with the same values, innovative spirit and resilience that have propelled us for a century.”

Eastman has been a member of the NYSE since it became a publicly traded company in 1994.

FilmTack Develops Anti-Microbial and Anti-Fog Face Shield Visor Film

FilmTack developed an anti-fog face shield visor film that, according to the company, has additional protection against bacteria. This new film is in response to the COVID-19 pandemic.

K. H. Poon, FilmTack director, sees the company’s new product as an improved material for face shield visors that provide protection against aerosols and mucous membranes for high-risk groups such as healthcare workers and students.

“Research institutions around the world have been focusing on the development of anti-microbial chemicals but lack the capability to move forward and incorporate these coatings onto face shield visors correctly and efficiently,” said Poon.

With simple sterilizing, the functionality of the visor film is expected to last about 10-14 days, according to the company. US and Korean personal protective equipment (PPE) manufacturers have generated interest in the material, according to FilmTack.

Attendee and Competitor Registration for the 2021 International Window Film Conference and Tint-Off™ is Now Open!

Register now to attend or compete at the International Window Film Conference and Tint-Off™ (WFCT), which will be held in Orlando, Fla. on January 12-14, 2021.  This power-packed, worldwide event is dedicated exclusively to the window film, paint protection and architectural film industries.

Learn from three full days of educational seminars and top-notch industry experts. Experience the best practices through the annual Automotive and Architectural Tint-Off™ and Paint Protection Film Competitions. Benefit from an exhibition floor that showcases the latest products and technologies in the industry. Grow business relationships that form during special networking events. Also just announced, fees have been significantly reduced for the 2021 competitions in an effort to help those affected financially this year to attendee and compete at WFCT.

January is a great time to visit Florida and the appropriate health protocols will be in place. Plus, with our new money-back guarantee, full attendees may cancel up to December 15 with a full refund. (Not applicable to competitors or non-sponsoring suppliers.)

Start advancing your career and bring home the latest techniques and trends in the industry to elevate your business! Be sure to take advantage of the early-bird discounts. To register, to compete, or for more information visit wfctevent.com or follow us on Facebook, Twitter, LinkedIn and Instagram for event news and updates.

PPPFA Guidelines Could Help Your Business

The President signed the Paycheck Protection Program Flexibility Act (PPPFA) into law on June 5, which is geared towards small businesses, including window film companies, who qualified for the Paycheck Protection Program (PPP). The House passed the PPPFA on May 27, 2020, the Senate followed with a unanimous vote on June 3, 2020.

The new law addresses several points in the original PPP, which was created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. First, borrowers now have more time to spend the loan proceeds. Before the PPPFA, spending had to occur within 8 weeks of receiving the loan proceeds. Now borrowers have 24 weeks after the origination of the loan, or until December 31, 2020. Employers can also continue to apply for the PPP loan until June 30, 2020.

Second, there is now a reduction in the amount that needs to go to payroll costs in order to qualify for forgiveness. Now, after the PPPFA, 60% of the loan proceeds must be spent on payroll costs. This is down from 75%, which means that forgivable non-payroll expenses (such as rent, utility payments and mortgage interest) can be as high as 40% of spending, up from 25%.

The new Act also:

  • Lengthens the loan maturity date from two to five years;
  • Ensures full access to payroll tax deferment for businesses that take PPP loans;
  • Extends the loan forgiveness rehire date to December 31, 2020;
  • Creates a safe harbor for businesses that make a good-faith effort to hire or re-hire qualified employees; and
  • Allows borrowers who received PPP loans prior to enactment to choose for the covered period of their loan to either last eight weeks or 24 weeks from origination.

OSHA Adopts Revised COVID-19 Enforcement Policies

The Occupational Safety and Health Administration (OSHA) recently adopted revised policies for enforcing its COVID-19 requirements. The new polices became effective May 26, 2020.

OSHA is increasing in-person inspections at all workplaces. The new enforcement guidance reflects changing circumstances in which many non-critical businesses have begun to reopen in areas of lower community spread.

“As more states are taking steps to reopen their economies and workers are returning to their workplaces, OSHA is receiving complaints from affected workers in non-essential businesses. This Updated Interim Enforcement Response Plan takes account of such changes,” a portion of OSHA’s statement reads.

OSHA is also revising its previous enforcement policy for recording COVID-19 cases. Under its recordkeeping requirements, COVID-19 is a recordable illness and employers are responsible for recording cases of COVID-19, if the case:

Under the new policy, OSHA will enforce the recordkeeping requirements of 29 CFR 1904 for employee COVID-19 illnesses for all employers. OSHA’s guidance emphasizes employers must make reasonable efforts, based on the evidence available to the employer, to determine whether a particular COVID-19 case is work-related.

Recording a COVID-19 illness does not mean the employer violated any OSHA standard. According to current regulations, employers with 10 or fewer employees and certain employers in low hazard industries have no recording obligations; they need only report COVID-19 work-related illnesses that result in a fatality or an employee’s in-patient hospitalization, amputation, or loss of an eye.

“Employers must report work-related fatalities to OSHA within eight hours and work-related in-patient hospitalizations, amputations, or losses of an eye within twenty-four hours. Employers must report fatalities that occur within thirty days of a work-related incident, and must report in-patient hospitalizations, amputations, or losses of an eye that occur within twenty-four hours of a work-related incident,” a portion of OSHA’s standard reads.

CDC Releases COVID-19 Response Plan

The Centers for Disease Control and Prevention (CDC) also issued a guidance detailing its actions and initiatives in supporting reopening plans. The response plan includes guidance for states as well as health recommendations for employers with high-risk workers.

DOL Offers Unemployment Insurance Fraud Resources

The Department of Labor (DOL) released updated resources for employers, employees and states to prevent fraud or misuse in the unemployment insurance system, including the new unemployment insurance programs under the Coronavirus Aid, Relief and Economic Security (CARES) Act.