Drugs in the workplace - a corporate response
Article Abstract:
Drug abuse costs US business approximately $100 billion a year due to decreased productivity, increased use of medical benefits, and time lost to absences. One half of the Fortune 500 companies have implemented drug policies and many of these companies have introduced drug abuse programs. Household International (Chicago, IL), a financial services provider, has successfully introduced a drug policy that includes the testing of new employees and an employee assistance program. Drug testing was made a condition of employment to ensure a safe work environment and the employee assistance program helps rehabilitate those employees with a drug-related problem. The program stresses education and communication that targets management, offering training sessions for senior management, corporate mangers, and field personnel in order to clearly delineate supervisory responsibilities.
Publication Name: Credit World
Subject: Banking, finance and accounting industries
ISSN: 0011-1074
Year: 1989
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Personal bankruptcies
Article Abstract:
A report from the Federal Reserve Board reveals that the major increase in non-business, or personal bankruptcies since 1985 has been caused by an increase in the consumption-related debt of US households and the liberalization of bankruptcy laws in 1978. The report also reveals that the number of personal bankruptcies increased more than 20% annually during 1985 and 1986, and by 1987 the annual number of filings approached 500,000. The increase in bankruptcies filings is partially caused by an increase in the ratio of outstanding debt to disposable income from two percent in 1945 to almost 19% in 1989. The increase can also be attributed to the liberalization of debtor laws under the Bankruptcy Reform Act of 1978 which allows debtors to keep more of their assets, and gives the courts sole discretion to review and accept debtors' repayment plans.
Publication Name: Credit World
Subject: Banking, finance and accounting industries
ISSN: 0011-1074
Year: 1989
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Personal bankruptcies
Article Abstract:
Research sponsored by the Federal Reserve Board (zRB), which was conducted to determine if new Federal bankruptcy laws were responsible for increased bankruptcies, reveals that there is a strong link between employment indicators and bankruptcy and a weaker link between garnishment laws and bankruptcy. The FRB report further shows a positive correlation between bankruptcy and age and income levels, as well as poor debt management and threats of legal action. Additionally, research into the effects of bankruptcy indicate: a positive correlation between bankruptcy, increased credit costs and reduced credit supply; higher loss rates on credit cards than closed-end loans; and an ameliorating effect on bankruptcy losses and credit response by reduced money costs.
Publication Name: Credit World
Subject: Banking, finance and accounting industries
ISSN: 0011-1074
Year: 1989
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