5 Important Exceptions to Know Regarding Minimum Wage

On July 24th, 2009, the minimum wage was raised to $7.25. To employees, this meant another $2,000 per year added to their income, and to employers it meant an even larger headache. Minimum wage is the state and federal law that requires employers to pay their employees a minimum hourly wage. This wage is set up by the federal government, but each state, city, and county is free to impose it's own minimum wage or "living wage." The employer is held accountable to pay the highest--federal, state, or local wage.Understanding the Relevant LawThe Fair Labor Standards Act (FLSA) increased the minimum wage over three years, 2009 being the last section of the law passed. The average employer must abide to the FLSA provisions if: (1) the business earns more than $500,000 in annual sales; or (2) if its employees conduct business between states, better known as interstate commerce. This includes calling, mailing, and shipping or receiving items to or from out-of-state. [Read Full Article]

SBA's Karen Mills on Thawing Small Business Credit

  Government, Politics and the Economy SBA's Karen Mills on How She's Thawing Small Business Credit SBA Administrator Karen Mills discusses how her agency is working to get banks to lend to small business again. BusinessWeek.com Polls, Politics and the Small Business Majority Do the Small Business Majority's Polls really indicate support for requiring employers to provide healthcare or pay the penalty? We don't know and here's why. NYTimes.com [Read Full Article]

Is There a Small Business Bailout in the Works?

  Government, Politics and the Economy Will Small Business Get a Bailout Afterall? The Obama Administration is considering a plan to use money from the $700 billion TARP program assist millions of small businesses, which officials now say are essential to any economic recovery because they employ so many people. WashingtonPost.com Employment Legislation: Two Ways to Get it DoneThere are two bills making their way through Congress, and they illustrate the starkly different ways that important employment-related legislation is created in Washington. Workforce.com Management and Operations [Read Full Article]

Happy New Year from America's Best Companies

Government and Economy Bush Signs Pension Funding Relief MeasureThe Worker, Retiree and Employer Recovery Act of 2008 was passed by Congress this month as part of an effort to aid employers facing large pension funding obligations due to the plunge in investment values. Ohio minimum wage to rise New Year's Day Some of Ohio's lowest-paid workers will receive a modest raise Thursday, when the state's minimum wage increases from $7 to $7.30 per hour. Management and Financial Issues Outsourcing Could Increase... [Read Full Article]