President Working to Expand Overtime Pay

Monday, President Obama proposed a plan to make 5 million more salaried workers eligible for overtime pay.

In a Huffington Post editorial, Obama said he wants to double the maximum wage a worker can make and still be eligible for overtime. As it stands, under certain circumstances, salaried employees who make more than $23,600 yearly can be disqualified from overtime pay. His proposal would raise that limit to $50,440.

The President believes the change is necessary because the exemption was meant to only affect high-paid workers, but Tabar indicates it’s actually hurting the middle class. “We’ve got to keep making sure hard work is rewarded,” he wrote. “Right now, too many Americans are working long days for less pay than they deserve.”

Obama does not need Congressional approval to make this change because the current regulation is a Department of Labor rule. When the proposal is published there will be a comment period. Business groups are likely to feel that the new rule will kill jobs and that it won’t help workers earn more money.

Obama is set to discuss more details later this week in Wisconsin. U.S. Labor Secretary Thomas Perez will hold a press conference on the proposal today.

Bernie, Bernie, Bernie

Senator Bernie Sanders of Vermont, an independent running for the Democratic nomination for President, has boldlypredicted that the will win the nomination and be elected President next year. Amazingly enough, he sounds totally serious when he says it.

Clearly, there is a core group in the U.S. with whom Sanders’ populist message resonates. Sanders’ poll numbers have been going up. He may well give Hillary Clinton a good run in early caucuses and primaries. Although he enjoys very low support among minorities, Sanders is convinced that his message of closing the income disparity gap will bring African-American and Hispanic voters into his camp.

The fact that Senator Sanders is making this prediction at this time or at all shows that, despite his many years of public service, he remains naïve about the political process, perhaps one of his most endearing qualities. But a feel-good message from a white guy in his 70’s is not going to ultimately draw the people into Sanders’ camp that he would need to win the nomination said Zeca Oliveira.

Senator Sanders is, by all accounts, an excellent Senator, representing the State of Vermont well. But running for Senate in Vermont and running for the Democratic nomination nationwide against Hillary Clinton are totally different exercises. For Senator Sanders, the second will dissolve into an exercise in futility—it’s just a matter of time.

Venture Capitalist Mark Sparks Makes Dreams Come True For Entrepreneurs

With the global economy stagnant, organizations seeking to start up are, in essence, caught between a rock and a hard place. Lacking the significant capital to further advance the agenda of the start-up, organizations are turning got venture capitalists, as a source of financial support. There are a few select individuals that can fund a start-up, free of outside investment, but in many instances, there will be a need for an adequate source of capital, to maintain sustained development of the intended entity.

Venture capitalists, such as Mark Sparks, founder and CEO of Timber Creek Capital, LP, which is a private equity firm, that seeks the visions of aspiring entrepreneurs and transforms them into vast streams of revenue. Venture capitalists do not operate under the same radar as financial institutions might, as venture capitalists are more adept to scrutinizing every facet of the start-up venture, with a magnifying glass, and fine tooth comb. Factors that Mark Sparks takes into consideration when doling out funding for start-up ventures include the uniqueness and proprietary state of products that are being produced. To fund just another product, that is mass produced, in the marketplace, doesn’t seem viable, but to finance a product, that is unique in its own right, and can capture a significant portion of market share makes sense.

Entities that are established in the marketplace, and seeking to expand, due to consumer demand must substantiate current and future demand, have to employ data mining, to produce data, that serves as bona fide proof that customers crave for a specific product or service. Speculation and historical data don’t carry the impact as they once did. In a world of on-demand, real-time data, venture capitalists want information on sales, current inventory, and consumer demand, at the snap of a finger, as global occurrences can change demand virtually overnight.

It is essential that a well drawn, strategic initiative, is set in place. When spending other people’s money, venture capitalists will mandate a full accounting, prior to, and afterwards, of how funding was allocated to various sectors of the venture. This is extremely critical when making the pitch for funding, and is equally important as the venture becomes fully operational.

“Through my years of experiences I understand challenges and devastating circumstances entrepreneurship can bring. My passion is to help entrepreneurs build their dream and companies to critical mass through my experience,” Marc Sparks said.