FTC Votes to Ban Non-Competes
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- เผยแพร่เมื่อ 22 เม.ย. 2024
- The Federal Trade Commission voted to ban non-compete provisions Tuesday, but legal challenges are making the future of the decision uncertain. Tyler Kendall has more on the pending litigation and impacts. She speaks on Bloomberg's "Balance of Power."
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"Stark opposition from the business community." Color me shocked that corporations and banks are mad that they cant put the proverbial handcuffs on their employees anymore. God forbid.
Capitalism is supposedly based on competition but nobody hates competition more than a capitalist
Good! It's ridiculous that former employees owe company jack chit.
0:22 can’t sharing confidential information be covered under an NDA instead? Go FTC!
A "long-established practice"?! Yeah, for rich executives. NOT for the average minimum wage worker, which non-competes have trickled down to. THAT practice is more recent, and it's egregious. These large corporations try to intimidate those of us who can't afford to hire lawyers to stay put, shut up, and keep accepting artificially low wages. I'm a free-market capitalist all the way, and that freedom should go BOTH ways! Want to retain my services? Then make it worth my while to stick around. You can GTFO with telling me I can't work somewhere else in the same industry for 2 years if I decide to leave. Some of these NCAs are nationwide now and essentially ban you from your own work. FTC sez "NOPE!!!"
Non competes have become so common and used to hold employees at even the lowest level hostage for executives personal gain and profits. It’s insane hourly workers at the lowest level are hood winked into a non compete. Employees don’t realize that you can and will be sued by your employer just for earning a wage in the only industry you are skilled at (for a specified time). This practice has become so widely used to stifle employees from leaving a job for any reason. I don’t believe a roof installer has some big trade secret that will hurt the company if they leave. Companies are using this tactic to keep wages down that’s it plain and simple.
Why else would companies not even explain the details that are on page 17 of your non compete that if you are fired for staff reduction you still cannot go and get another job in the same industry for a year. Answer: GREED AT THE TOP LEVEL!
So I can work at McDonald's and Burger King now. 😮
You should work on getting an education and pulling yourself up by your bootstraps.
@@Matt-fl8uy you’ll have to pay for his student loans.
@@bdfunke LMAO, you think he graduated HS.
I can't wait for corporate America with their 10 private jets to start complaining about how unfair this decision is for them not the workers. That's the thing about corporate America. It's always about them, never about the workers who made them be able to afford 10 private jets in the first place. Have to worry about company secrets getting out then patent the idea. Remember anyone who's against this bill will always look at it in a business perspective rather than the employees who is barely making a living.
Competition is good. Competition is bad. Pick a lane.
F the business community
Risky move in an election year.
How so?
An obvious move in an election year.
This will distroy alot of small and just getting started business and when businesses die so do jobs
How?
@@Matt-fl8uyno, this will make you employers treat your employees with respect and not keep shackles on minimum wage workers
I agree, banning Non-Competes will hurt business competition. This is like stealing somebody's hard work.
Except these are human beings, not work products. If they are so valuable, pay them well and treat them right and they'll stick around.
It's like banning slavery... if you want to own your employees and deny them a life outside of your company, yeah shitty day for you.
It directly increases business competition. That’s exactly the idea. It will potential stifle profits and create some issues around IP.
@@harrisonschwartz565 what? it doesn’t create issues around IP. That’s a lie told by chamber of commerce. We already have IP law and NDAs to protect IP. You don’t need to own people and deny them a life outside of your company to protect your IP..
California, bastion of innovation made non compete illegal in 1872 and California companies survived this long.
This will crush small business owners. For instance, if you built a business around making smoked briskets for example, your employees at some point will know your process, and now can steal it and start their own business and compete directly with you. Another example, you start an insurance agency, one of your employees quits after 5 years and decides they want to start their own agency, that’s fine and all, but now that previous employee can take your current customers with them. That is so wrong!!!! No way this sticks!! This is so bad for businesses!!