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Judi Lynn

(160,217 posts)
Wed May 25, 2016, 08:12 PM May 2016

Obama Overtime Plan Won’t Hurt Businesses, Executives Admit

Obama Overtime Plan Won’t Hurt Businesses, Executives Admit

Zaid Jilani
May 24 2016, 3:40 p.m.

Business interest groups and their allies engaged in hyperbolic rhetoric about the supposed negative impact of overtime regulations before they were announced last week. By changing a salary threshold, the new rules will make millions of workers newly eligible to be paid for their overtime hours.

“Businesses will be forced to look for cuts in the face of such massive costs,” Competitive Enterprise Institute policy analyst Trey Kovacs predicted. Right-wing economics analyst Michael Carr even worried that the overtime rules could help start another recession.

House Speaker Paul Ryan warned that they would “cause people to lose their livelihoods.”

“You just can’t do this!” said a former McDonald’s CEO.

But in investor calls over the past week, executives at some leading American retailers quietly admitted that the rule will only have a modest impact on their bottom lines, if any at all.

More:
https://theintercept.com/2016/05/24/dire-predictions-about-obama-overtime-rule-overblown/

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Obama Overtime Plan Won’t Hurt Businesses, Executives Admit (Original Post) Judi Lynn May 2016 OP
Hopefully this will stop the abuse of people like asst. managers tikka May 2016 #1

tikka

(757 posts)
1. Hopefully this will stop the abuse of people like asst. managers
Thu May 26, 2016, 01:40 AM
May 2016

Companies work people 60 hours a week with no overtime because it's cheaper than hiring two people. It's time this abuse stopped.

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