Articles Posted in executives

The salaries of top executives at Fannie Mae and Freddie Mac are under attack with the introduction of a new Congressional bill. Rep. Ed Royce, R-Calif., is sponsoring legislation that would potentially cap executive salaries within these two companies, making them comparable to the salaries of officials within the government’s executive branch. This move is…

New legislation has been proposed that would increase the minimum salary basis level that employers need to pay as part of the requirements to avoid the overtime rules. Workers classified as executive, administrative or professional employees would have their weekly minimum pay more than doubled, and the floor for highly-compensated employees will increase too, by…

Two crucial pieces of proposed legislation will be decided by July 31st.  The proposals include a hike in the minimum wage to $11.00 and a ban on noncompete agreements. Both proposals are great news for employees. If the legislation for the new minimum wage passes, then by January 1, 2017 the minimum wage in Massachusetts…

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In the goal to protect goodwill, confidential information and trade secrets, the typical non-competition agreements that companies use damage the targeted employee in measures far beyond the benefits – the business equivalent of a scarlet letter. But in an environment where non-competition agreements remain enforceable, those businesses seeking to compete on a level playing field…

The Massachusetts Supreme Judicial Court has ruled that employees who make internal complaints regarding wage violations are protected against retaliation from their employers. These are the whistleblowing protections under the Wage Act. In Smith v. Winter Place LLC, 447 Mass. 363 (August 1, 2006), the Supreme Judicial Court reversed a lower court’s grant of summary…

A recent Massachusetts Superior Court case, O’Connor v. U.S. Art Co. Inc., held that the firing a minority shareholder by the majority shareholders in a closely held corporation was a dereliction of fiduciary duty, calling into question the applicability of at-will employment rules in this context. O’Connor and Lank formed an art transportation company, with…

The United States Department of Labor has issued rules revising the criteria used to determine whether employees may be classified as “exempt” (e.g., salaried) from the minimum wage and overtime pay requirements of the Fair Labor Standards Act (FLSA). These rules went effective August, 2004. The last significant change they made to these rules was…