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Zinsergram: Getting Ready for the New FLSA Overtime Rule
By L. Michael Zinser
On May 18, 2016, the U.S. Department of Labor finalized its Proposed Rule to increase the salary threshold necessary to be classified as exempt from overtime. When the Final Rule becomes effective on December 1, 2016, the salary threshold will increase from $23,660 to $47,476 per year. Non-discretionary bonuses and commissions may count toward as much as 10 percent of the salary threshold. Every three years, the salary threshold will increase.
The Final Rule represents a slight downward revision from the Proposed Rule, which aimed to increase the salary threshold to $50,440 per year.
Though the Final Rule still may be challenged, every Employer must be developing a plan now to address this huge budgetary issue. This writer suggests the following:
- Identify all employees currently classified as salaried exempt, but paid less than $47,476 per year (or $913 per week).
- Develop a new compensation plan.
Click here for the complete list of five steps with details for each and information about the DOL "Persuader Rule" Violates Attorney-Client Privilege and Placing Independent Contractor Ads on Job-Posting Sites.
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Virginia Butler to join D&C Digital as studio director
From DemocratandChronicle.com - Virginia Butler, a longtime anchor on Time Warner Cable News, has been named the first director of D&C Digital's new digital studio.
Butler will be responsible for managing and coordinating live and recorded video broadcasts, podcasts and other multimedia offerings in the studio beginning June 13. The studio is on the first floor of the new D&C Digital building at 245 E. Main St. and features large windows where pedestrians will be able to view broadcasts. More |
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The New York Times Company Names Elizabeth Spayd Public Editor
From NYT Press Release - Elizabeth Spayd has been named public editor of The New York Times, it was announced today by Arthur Sulzberger, Jr., The Times's publisher. Ms. Spayd will join The Times later this summer from The Columbia Journalism Review (CJR), where since 2014 she has served as editor and publisher.
Mr. Sulzberger said, "Liz is an exceptionally accomplished journalist. Her work at CJR along with her long and successful history at the Washington Post have given her a broad range of experiences that will serve us well as she assumes this critical position serving as a reliable and engaged representative of our readers..." More
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From Gannett.com - Gannett announced on Monday that it has increased its all-cash, premium offer to acquire Tribune Publishing Company to $15.00 per share from $12.25 per share, subject to due diligence. The revised offer represents a premium of 99% to Tribune's closing price of $7.52 per share on April 22, 2016, the last trading day before Gannett publicly announced its initial offer for Tribune. The total value of the revised offer is approximately $864 million, including the assumption of certain Tribune liabilities, which include approximately $385 million of debt outstanding as of March 27, 2016. John Jeffry Louis, Chairman of the Gannett Board of Directors, said, "Our increased offer demonstrates our commitment to engaging in serious and meaningful negotiations with the Tribune Board to reach a mutually agreeable transaction where Gannett acquires all of Tribune. It is evident from our discussions with Tribune shareholders that there is overwhelming support for the companies to engage immediately regarding our proposed transaction. By increasing our offer at this time, we are reaffirming Gannett's belief that this transaction would deliver significant value to both companies' stakeholders and that the time to act is now. We encourage Tribune's shareholders to send a clear message to their Board to engage immediately with Gannett regarding our revised all-cash, premium offer." More
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The Wall Street Journal Partners With Google for Daydream
From DowJones.com - This fall viewers will be able to access virtual reality content from WSJ on Google Daydream. The Wall Street Journal has long been dedicated to advancing dynamic storytelling formats, and virtual reality is the next dimension. Collaborating with Google to create Daydream experiences allows us to play a key role in shaping news and data platforms for virtual reality, making it possible to create fully immersive experiences for viewers to connect and interact with The Wall Street Journal's peerless reporting. |
From CapitalNewYork.com - Tribune Publishing chairman Michael Ferro hasn't said much in public since Gannett, the largest newspaper company in the U.S., went public with its hostile takeover bid for his company. But inside the company, publisher of a slate of struggling but nationally recognized broadsheets like The Chicago Tribune, The Los Angeles Times and The Baltimore Sun, he's talking tough.
On Tuesday, Ferro told a gathering of some five dozen L.A. Times sales staffers he was working on a bid to take over Gannett.
"I am going to bid on Gannett," he told the group, according to a confidential source. "I have lawyers working on it." More |
UPCOMING WEBINARS AND EVENTS
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In a New York Minute is the weekly electronic newsletter of NYNPA, providing you with member news, money-saving and money-generating ideas, and upcoming events. If you would like to contribute to this newsletter please reply to this e-mail or contact mmiller@nynpa.com. For more on NYNPA please visit us on the web at www.nynpa.com.
Mary Miller
Education Services Director
New York News Publishers Association
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