- - Working for the Man - -
Last week it was telecommuting, this week it is
stock options. Does anyone at the Labor Department have a
calendar? How about a clue how 21st-century workers
actually work?
The Labor Department has helpfully opined that
granting stock options to lower-paid, non-salaried employees--in
other words spreading the benefit of economic growth beyond the
corporate boardroom--might run a company afoul of labor laws.
It works like this: The value of the stock
options, itself a remarkably fluid thing, must be included in the
employee's base pay for purposes of determining what the employee's
overtime rate should be. Failure to do so could mean the employer
is not really paying overtime rates, pretty much original sin as
far as the Labor Dept. goes.
The truly twisted thing is that bonuses, profit
sharing plans, and health insurance are specifically excluded
from base pay for purposes of overtime by the agency. How stock
options differ from those benefits no one at the Labor Department
can explain.
Of course, the risk is that companies--faced
with either taking on the enormous burden of trying to track what
an employee does with his or her options and then trying to
factor those gains across hourly overtime pay for as long as 104
months prior to when the options are exercised--will simply tank
their option programs for hourly workers.
That'll show them who is boss.
http://search.washingtonpost.com/wp-srv/WPlate/2000-01/12/168l-011200-idx.html
QUICK HITS
- - Quote of the Week - -
"I tried marijuana, didn't like it
particularly and unlike President Clinton I did inhale. But it
wasn't part of my life then and that's what happened,"
British cabinet minister Marjorie Mowlam, 50, who heads the Labor
Party government's campaign against drugs, on firing up as a
student in the United States in the early '70s. Mowlam was
studying politics at that counter-culture hotbed, Iowa State
University. Yeah, baby.
http://www.nando.com/noframes/story/0,2107,500155262-500191883-500824326-0,00.html
- - Clinton Jr. - -
Benton (Arkansas) County Prosecutor Brad Butler
apparently committed no crime according to Special Prosecutor
John Everett even though Butler had a sexual relationship with a
woman who came to him on a criminal complaint and an
inappropriate personal relationship with another woman his office
used as an informant in a capital murder case. Everett did refer
his findings to the state Supreme Court Committee on Professional
Conduct, which could discipline Butler.
http://www.foxnews.com/etcetera/011400/prosecutorsex.sml
- - Toll Collectors - -
Sens. Mike DeWine (R-Ohio) and Herb Kohl (D-Wis.),
top dogs at the antitrust subcommittee of the Senate Commerce
Committee, announced plans to hold hearings on the AOL-Time
Warner merger. Steve Case can pay them now or pay them later.
http://search.washingtonpost.com/wp-srv/WPlate/2000-01/11/144l-011100-idx.html
- - Barely Qualified - -
A federal judge in Canada has upheld an
immigration official's finding that a Romanian woman could not
have a work permit to dance totally nude in Toronto because her
job as a dancer in a nightclub in Brasov only required her to
appear topless. Hence, Loredana Silion, 24, does not possess the
necessary skills to dance in the nude. Yet Canada is currently
suffering through a shortage of nude female dancers.
http://www.nationalpost.com/home.asp?f=000114/176772
- - Wrong Team - -
Postal officials in Tampa sent a worker home to
change clothes after he arrived wearing a Washington Redskins
shirt on the eve of a NFL playoff game pitting the Redskins
against the local Tampa Bay Bucs. But after the postal union
intervened, the man was allowed to return with his Skins shirt.
http://www.sptimes.com/News/011400/TampaBay/Postal_worker_told__C.shtml
REASON NEWS
For the latest on media appearances by Reason
writers, visit http://www.reason.com/press.html.
Adrian Moore, Reason Public Policy Institute
Director of Privatization and Government Reform will be speaking
at the U.S. Water and Wastewater Summit, January 24th, at the
Loews L'Enfant Plaza hotel, Washington DC. His topic will be
"Water as a commodity vs. natural resource right." For
more info, see http://www.cbinet.com/wconnect/wc.dll?CBEvent~GetMoreInfo~EB007
ARE YOU fascinated by innovation? Do you love
new ideas? Would you like to stimulate your creative thinking? Do
you want to explore the connection between freedom, enterprise,
and progress?
Don't miss the 2nd Annual Reason Dynamic
Visions Conference
http://www.reason.com/dynamic/dynamic2000.html
"On the Verge: Creative Mixing on the
Frontiers of Business, Society, Art, and Technology," takes
place February 19 21, 2000 at the Santa Clara Marriott in
Silicon Valley.
Founded by Reason Editor-at-Large Virginia
Postrel, author of The Future and Its Enemies, the conference
offers an opportunity for creative people from a variety of
backgrounds to cross-fertilize, discover new ideas, and gain
fresh insights into their work, home, and civic lives--and their
futures. At ordinary conferences, people are exposed to a narrow
pool of industry-specific expertise and concepts. At the Dynamic
Visions Conference, attendees and speakers from biology,
technology, management, ecology, media,
public policy, education, design, and other
fields converge, sparking brand new ideas--ideas that propel them
beyond the traditional boundaries of their own disciplines.
The conference program and registration
information are available at http://www.reason.com/dynamic/dynamic2000.html or by calling Erica Mannard at 310-391-2245.
Confirmed speakers and their topics include:
Jhane Barnes, designer - "Mathematics,
Computers, and the Art of Textile Design"
Gregory Benford, UC-Irvine astrophysicist and
author of Timescape, Deep Time, and Cosm - "Thinking Long in
the Millennium"
Daniel Botkin, UC-Santa Barbara ecologist,
president, Center for the Study of the Environment, author of
Discordant Harmonies - "The Future of Nature: How to Have
Both Civilization and Nature in the 21st Century"
Charles Paul Freund, senior editor, Reason,
"Dark Verge? The Case of Vienna 1900"
Neil Gershenfeld, leader, physics and media
group, MIT Media Lab, author, When Things Start to Think - "Things
that Think"
Nick Gillespie, editor-in-chief, Reason -
"Popular Culture on the Verge"
Lisa Graham Keegan, Arizona Superintendent of
Public Instruction - "Innovations in Education"
Grant McCracken, Harvard Business School,
author, Plenitude and Culture and Consumption - "Verge of
Verges: Sir Francis Bacon at the Gates of Gibraltar"
Christena Nippert-Eng, sociologist, Illinois
Institute of Technology, author, Home and Work - "Home and
Work: Drawing the Boundaries"
Dan Pink, Fast Company contributor - "Free
Agent Nation"
Steven Postrel, UC-Irvine Graduate School of
Management -"The Geek and the Dilettante: Sharing Knowledge
Across Specialities"
Virginia Postrel, editor, Reason, author, The
Future and Its Enemies, - "On the Verge: Exploring the
Frontiers of Creative Encounter"
Adam Clayton Powell III, vice president,
technology and programs, The Freedom Forum - "Culture and
Collision"
Richard Rodriguez, author, Days of Obligation
and Hunger of Memory - "Some Thoughts on the Burrito and the
Browning of America"
Lynn Scarlett, executive director, Reason
Public Policy Institute - "Can Industry Save the Planet? The
Rise of Industrial Ecology"
Michael Schrage, columnist, Fortune, senior
associate, MIT Media Lab, author, No More Teams! and Serious Play
- "Serious Play"
Robert Zubrin, author of The Case for Mars -
"Mars Direct: Humans to the Red Planet within a Decade"
For full descriptions and speaker information,
see
http://www.reason.com/dynamic/speakers.html
To register, see http://www.reason.com/dynamic/dynamic2000.html
Reason Express is made possible by a grant from
The DBT Group (http://www.dbtgroup.com),
manufacturers of affordable, high-performance mainframe systems
and productivity software.
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