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Working for a buck? Federal

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  • Working for a buck? Federal

    I have a somewhat serious and somewhat not so serious question about the big 3 auto companies' CEOs agreeing to work for a buck in order to accept congressional funding (after being asked during the last session). How will that work and isn't it going against the FLSA?

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    Yes, it will be illegal. The employees (including CEOs) would have to get paid minimum wage if non-exempt or $455/week if exempt.

    I am not sure who one would get to enforce it however. I suspect that they would get laughed out of any DOL office.

    Besides, I also suspect that if one reads the fine print, these poor folks will get some type of non-wage compensation worth several million dollars annually in addition to their one dollar salary.
    "Reality is that which, when you stop believing in it, doesn't go away".
    Philip K. **** (1928-1982)

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