It seems Mr. President that all of a sudden you and I are becoming Pen Pals. Not in the traditional sense because you never write, you never call or even seem to care. But you do respond in the main stream media and so I feel our connection is intact.
Your most recent pronouncement about OVERTIME, although not on the brilliance level of Obamacare is more thought provoking than your Solyndra declaration. I think, however, where the jobs will be created is in the manufacture of time clocks and the Governmental monitoring of your program. Please Sir, let me explain.
Apparently you have been advised and believe that all salaried employees are clocked at 40 hours per week or some such number. You also believe that if they are asked to work more hours they should be compensated at time and a half. As everything you’ve done since your first term election has been a noble effort I am absolutely sure this program is also. After all I am your Pal how could I believe anything else?
This new jobs program presents a few problems that, perhaps, you and your advisors may not have thought about. Having employed hundreds of people on salary, over my forty years as a boss, I cannot count the number of times I asked people to stay a little later to finish a project or accommodate a client’s schedule. I, according to you, should have been paying these people time and a half. Ma Bad. However there are just a few questions I have regarding this new program.
There wasn’t an employee who didn’t tell me that their son or daughter had a big game and asked if they could leave early. The number of lateness’s due to family illness was immeasurable. Periodically there would be the landing of the large account and everyone was given the rest of the day off. Of course having just experienced WEATHER in the Northeast the tardiness to work was a given. My question is, do we now deduct all that from the hours worked? BY the way I didn’t include the profit sharing plan that I voluntarily set up.
So old pal, here is where the time clock comes. Salaried employees clock in just like the hourlies. In addition every time they leave they clock out. I think this should even get more precise. When they take an allotted break if they return to work 5 minutes early it is a credit but 5 minutes late is a debit. ( I am really getting into this)
Mr. President I think you are really on to something. The amount of workers needed to both manufacture the hardware and monitor the results will be enormous. I see a Governmental agency in the making.
Once again your brilliance at creating jobs is awe inspiring. As a matter of fact you put Roosevelt’s jobs program of shooing pigeons away from statues to shame.
Till next time, your’ Pen Pal
Along with his 40-years of dedication in the financial services industry, Bill is the President and CEO of GPSforLife, has recently authored a highly successful book entitled 44th: A Presidential Conspiracy, publishes his dynamic monthly financial newsletter MacroProfit, and faithfully continues his third decade on the radio with It’s All About Money, which can be heard weekdays on Money Radio in Phoenix and in podcast form on his website (and on smartphone apps) published at billtatro.com weekdays at 5pm Eastern. Bill can be reached via email at firstname.lastname@example.org and on Twitter @tatroshow.