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September 2013 Archives

Colorado tire recycler sentenced, fined on fraud charges

The Colorado attorney general announced that the president of tire recycler Colorado Tire Solutions admitted to filing fraudulent claims of waste tire tonnage. Accused of this fraud, the man pleaded guilty on Sept. 5 to one count of possession of a forged instrument and one court of forgery. The court sentenced him to 10 days in jail and two years of probation. He will also have to reimburse the Colorado Department of Public Health and Environment for $17,189, and his company was ordered to pay the Colorado Environmental Crimes sampling fund a $10,000 fine.

Colorado company named in $140,000 breach of contract lawsuit

A breach of contract suit has been filed against a local Colorado cabinetmaking company and its individual owners by a Pennsylvania finance company. The finance company alleges that the cabinetmaker owes it $140,000 in unpaid payments on a finance agreement entered into in 2012, pursuant to which the finance company advanced funds to enable the cabinet maker to acquire a machine saw.

Steel Workers

Eight hundred (800) former and current hourly workers at U.S. Steel's Steel Works in Gary, Indiana filed a lawsuit based on the Fair Labor Standards Act of 1938, 29 U.S.C. § 201 ("The FLSA").  They argued that U.S. Steel violated the FLSA by failing to compensate them for the time they spend in putting on and taking off their work clothes in a locker room at the plant ("clothes changing time") and in walking from the locker room to their work stations, and back again at the end of the day ("travel time") The workers are under a collective bargaining agreement between U.S. Steel and the steelworkers union which does not require compensation for such time.None of the previous collective bargaining agreements since 1947 required this compensation.  The workers argued that the FLSA itself requires payment for this time; and it if does, it overrides any contrary contractual provision in the agreement.

Visiting venture capitalists talk to Colorado group

At The Broadmoor in Colorado Springs, Front Range entrepreneurs hoping to attract capital heard from the venture capitalists themselves on important steps to take. Venture capital provides money to startup companies in Denver and across the state. The investors had come from states ranging from California to Texas.