Shortly after federal regulators fined Wells Fargo $185 million for its decades-long fake account fiasco perpetrated by employees who opened more than two million unauthorized accounts in order to meet high-pressure sales goals, the company said it would ditch the incentive system. Now, the bank has finally outlined its new approach to compensating employees that shifts the focus away from upselling add-on products and toward improved customer satisfaction. [More]
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Costco Raising Entry-Level Employee Minimum Wage For The First Time In Nearly A Decade
By 3.4.16
In a bid to attract more quality workers, Costco says it will raise the minimum wage for entry-level workers for the first time in nine years. [More]
Dept. Of Labor Proposal Would Expand Overtime Pay To Nearly Five Million More Americans
By 6.30.15
Working more than 40 hours a week but not getting paid overtime because you make too much already? If so, you might soon be pocketing more dough for your extra hours under newly proposed federal regulations that raise the threshold income level at which workers are exempt from overtime pay of time-and-a-half wages. [More]
Jobs With The Highest Stress For The Lowest Pay
By 10.28.09
Are you feeling underworked and overpaid? You very well may be, compared to people in the top 15 most stressful, lowest-paying careers, according to Payscale.com. CNN Money rounded these jobs up, and explained why they made the list.
NY AG: Banks Paid Bonuses That Were Substantially Greater Than The Banks' Net Income
By 7.31.09
New York Attorney General Andrew Cuomo’s report on the bonus structures of the banking industry is out and — oh my— it’s damning. The AG says that 3 banks, Goldman Sachs, Morgan Stanley, and JP. Morgan Chase, paid out bonuses that ” were substantially greater than the banks’ net income.”
Chrysler Financial Accused Of Turning Down Government Loan To Avoid Executive Bonus Restrictions
By 4.20.09
The Washington Post has just published a story accusing executives at Chrysler Financial of turning down a $750 million government loan because they “didn’t want to abide by new federal limits on pay,” and instead opted for more expensive private sector financing, “adding to the burdens of the already fragile automaker and its financing company.” Chrysler Financial denies the charge.
By 1.4.09
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The New York Times has an article discussing Congressional proposals to limit executive pay. Although the financial industry may deserve a pay cap, the author argues, other industries would be harmed by a cap.
This Week In Executive Compensation: $12.2 Million For Mattel's Conniver-In-Chief
By 4.27.08
Let’s say you run a toy company. Your retarding poison toys earn you a well-deserved public flogging, which you escape by scapegoating Chinese workers. The media doesn’t realize, until it’s too late, that the real culprits are the dangerous domestic designers you employ. Sales inch up marginally. Do you deserve $12.2 million, a 68% raise? Mattel’s Board of Directors thinks so!
Are You Getting Screwed Out Of Overtime Pay?
By 2.16.07
Attention people who have jobs: You may be getting screwed out of overtime pay. You’d better bet that Chuck Norris doesn’t put up with not getting paid his overtime pay. Bankrate has a simple questionnaire that helps you determine if you are eligible for overtime pay:
