New minimum wage law.

[still_learning]

The new minimum wage law. Did the president sign it or is it still in limbo?

What are the dates of the new changes as the bill is written currently?

What do you plan to change to offset the increase? Do you feel this will be

a major problem with profitability?

 

[snowman]

still learning:

Do you feel this will be a major problem with profitability?

No. You’re not paying any more for labor than your competition. Unless you all (competitors) plan to take a pay cut in the process, prices will rise to offset the additional costs.

 

[NicksPizza]

Here is the Federal Dept. of Labor link to qick facts. See epsecially the exemption for businesses grossing under $500K. I can verify I have read the Act for the exemption. All the other links below I found using google. I do not attest or warrant their verasity . . . for entertainment purposes only, no other warranty is expressed or implied.

http://www.dol.gov/esa/whd/flsa/

This webiste shows the key dates for the Fair Minimum Wage Act of 2007 signed by President May 24 or so.

http://www.hrdocs.com/Posters/federal.asp?promoCode=307

Here is a quick reference sheet:

http://www.hrdocs.com/Posters/MinWageGuide.pdf

What you need to know about the Federal Minimum Wage
The federal minimum wage provisions are contained in the Fair Labor Standards Act (FLSA). The federal minimum wage for nonexempt employees was raised in May of 2007 increasing it from $5.15 per hour, set in 1997 to:

$5.85 per hour, effective July 24th 2007
$6.55 per hour, effective July 24th 2008
$7.25 per hour, effective July 24th 2009

Every employer of employees subject to the Fair Labor Standards Act’s minimum wage provisions must post, and keep posted, a notice explaining the Act in a conspicuous place in all of their establishments so as to permit employees to readily read it. To be compliant with federal employment law, your business must post the Fair Minimum Wage Act of 2007.

 

[td_VP192]

NicksPizza:

Here is the Federal Dept. of Labor link to qick facts. See epsecially the exemption for businesses grossing under $500K. I can verify I have read the Act for the exemption. All the other links below I found using google. I do not attest or warrant their verasity . . . for entertainment purposes only, no other warranty is expressed or implied.

http://www.dol.gov/esa/whd/flsa/

This webiste shows the key dates for the Fair Minimum Wage Act of 2007 signed by President May 24 or so.

http://www.hrdocs.com/Posters/federal.asp?promoCode=307

Here is a quick reference sheet:

http://www.hrdocs.com/Posters/MinWageGuide.pdf

What you need to know about the Federal Minimum Wage
The federal minimum wage provisions are contained in the Fair Labor Standards Act (FLSA). The federal minimum wage for nonexempt employees was raised in May of 2007 increasing it from $5.15 per hour, set in 1997 to:

$5.85 per hour, effective July 24th 2007
$6.55 per hour, effective July 24th 2008
$7.25 per hour, effective July 24th 2009

Every employer of employees subject to the Fair Labor Standards Act’s minimum wage provisions must post, and keep posted, a notice explaining the Act in a conspicuous place in all of their establishments so as to permit employees to readily read it. To be compliant with federal employment law, your business must post the Fair Minimum Wage Act of 2007.

There’s also exemptions for businesses with 10 or less full-time employees(Thank God).

 

[system]

good luck attracting employees when you don’t pay them at least as much as MC D’s or Wal Mart.

 

[NicksPizza]

td_VP192:

There’s also exemptions for businesses with 10 or less full-time employees(Thank God).

The text I read, that isn’t the new stuff just passed, says “5 or fewer employees” is the test for coverage.

Georgia has more restrictive law, however, that might state that the test is . . . 2 or more employees and $40K or more gross sales must pay minimum per state regulations.

In general, do check your state laws closely.

 

[still_learning]

THANKS FOR THE INFO! I Listen to alot of talk radio and did not hear anymore about it. All of my friends were calling me.

 

[system]

Don’t forget to vote in Fall 2008, and remember that the Democrat Party is the one that pushed this unfunded mandate on us.

You’ve been marked by the Dem’s as greedy, rich profit-mongers, and they are pandering to the economic ignorance of most of their voters by forcing you to pay up.

The Republicans are not perfect, but at least they believe in letting the free market determine that value of goods & services.

 

[NicksPizza]

Anonymous:

good luck attracting employees when you don’t pay them at least as much as MC D’s or Wal Mart.

I appreciate you good wishes. I will actually pull dozens of applications when we put out the call. You see, money is not everything in every market. We are the only viable employment opportunity for teenagers (wait staff - dishwashers) and young adults in our town. One day there will be other employers, but we are the bright light that everyone sees.

They have the option of a job in town for .50 less per hour, or maintain a car and drive 20 to 30 minutes each way for really lousy treatment and less than prestigious employment.

We do just fine, and will keep it going. We keep our eye on the prize, and walk toward it every day.