On May 18, 2016, the Department of Labor announced new rules which will govern compensation for every employer in the country which is covered by the federal Fair Labor Standards Act. With a few exceptions, this includes any employer which has gross revenue of $500,000 or more.
On March 9, 2015, the United States Supreme Court issued a significant decision impacting employers who are concerned with whether or not their workers can be classified as exempt employees under the Fair Labor Standards Act. The decision in Perez v. Mortgage Bankers Assn. confirmed that the DOL had the ability to interpret its rules to determine that mortgage lenders were non-exempt employees. As such, mortgage lenders need to be paid overtime for every hour worked over forty per week.
I love when a movie comes out that makes me smarter, even without watching it. A good example is The Black Swan. I had never heard of such a thing and had no idea what it symbolized before Fox bombed the airwaves with commercials featuring dark, elegant-looking shots of Natalie Portman in ominous poses. Intrigued, I looked up the metaphorical use of a black swan in literature and film. I learned that a black swan represents an event that surprises the observer, has a major effect on the observer and others, which is usually negative, but is often inappropriately rationalized in hindsight.