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 ...
May 8, 2015Philip Gordon
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 ...
June 23, 2014Philip Gordon
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 ...
June 17, 2014Philip Gordon
1) Companies are shifting towards long term, multi-year goals, and executive compensation is following suit, often setting compensation based upon long term success metrics. 2) Executive Compensation is varied. It often consists of a combination of salary, bonuses, equity, benefits, and other perks, and it typically based on company performance, length ...
April 27, 2014Philip Gordon
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 ...
October 1, 2009Philip Gordon
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 ...
August 7, 2006Philip Gordon
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 ...
December 1, 2005Philip Gordon
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 ...
August 10, 2004Philip Gordon