We are currently repeating living in "the economy of the Gilded Age". I started my career in corporate America in the late 1970's at a well run, Fortune 500 company with a supportive boss & mentor-specializing in employee & executive compensation. Attended many conferences where I saw you speak Mr. Reich. My company paid for my MBA, provided expanded growth & development into other areas of expertise & was paid a good salary with great benefits. I started my executive career here & moved to other companies & industries. I was very lucky to have had my career during the next 20 years. I continued at an an executive level and saw concerning changes in the corporate world over the mid 1980's-2000's. Something was happening to destroy the working world & only in recent years have I understood what happened. I hope the FTC is successful in defeating the NCA's.
I do not recognize the world we live and work in today at all. We are in a sad state in our country & our younger generations are struggling to survive, as well as so many other people. I hope some miracle changes our political system to where those elected serve those they are elected to represent. Our democracy is hanging by a thread ! Thank you for your hard work in sharing your thoughts with so many people- there is hope for change.
Never agree to sign a NCA it. All the knowledge you have gatthered working in a particular industry, is your main asset when looking for another job. Your knowledge is valuable for the new party. It happened to me when I applied for a transfer within the Company to an attractive central location for my frequent travelling. Rather than flying for 14 hours to reach the region I was responsible for, the maximum time from that location was under 3 hours and I could spend the weekends at home. It was refused 3 times.
Then luckily I was approached by a headhunter for a top job, directly reporting to the board of directors of a major industry, though it would involve possible more travelling all over the world.
Nevertheless I filed my request for the 4th time and I informed my Co that a "no" would mean I would be leaving.
Is it in the same industry?
I confirmed.
They responded that the NCA would not allow me to take that job.
I requested them to show the agreement I had signed. No NCA was mentioned.
Within three months I landed at my new preferred location where I worked for the next 17 years.
Yes this is great news, if it is enacted and funded. But good ol' boy Mitch McConnell and his lackey the trumpster, have managed to pack most of the Federal court and worst of all the Supreme Court against the Constitution and the people it tries to serve. From 2003 until 2021 when I left government and went into the private sector I was faced with these non-competes. With small companies I managed to face them down and refuse to sign, but no such luck with the two corporations for whom I worked, but even there I managed to weasel out if they lost their contract, I was able to work for a different company on the grounds I didn't lose the contract they did. But then I was already in my 70's and 80's, with knowledge and experience they needed and willing to travel anywhere on 24 hours notice. My younger coworkers, especially those of both genders who had a family, were not so fortunate and they had to do the bow and scrape to stay employed. I hope this is a win, for all those coworkers, they render a great service to the business world.
Jan 10, 2023·edited Jan 10, 2023Liked by Robert Reich
"This is a big deal. The FTC estimates that such a ban could increase wages by nearly $300 billion a year (about $2,000 per worker, on average) by allowing workers to pursue better job opportunities."
Wow. That should be highlighted. I had no idea it would make that much of a difference.
I had already noted coverage of this new rule. And you are correct in pointing out its significance. Also noted is your inclusion of words such as monopoly and robber-barons. All of these are very significant topics that are way overdue for reconsideration. So a salute and a thank you.
This should be a much bigger story nationwide so the GOP can't gut it without workers noticing. But now that I"m avoiding twitter I''m not able to RT these kinds of issues and articles as much as I used to. sigh.
Non-competes are a joke. Guess how quickly a company will toss a worker if that salary will help make somebody’s bonus. Pretty quickly if there are no worries about taking that talent to a competitor. And yes, there are non-competes enforced (think: Texas) when an employee is terminated for whatever reason. Not everybody can afford legal action against a multi-national corporation.
Dear Mr. Reich, you are right-on! Keep the information and background coming. You provide a breath of hope in this economically immoral state we've been forced to live in since the FTC, SEC, and other regulatory agencies have been stripped of their power. You are fighting the good fight and I, for one, am grateful.
You mentioned SCOTUS. Perhaps leftist sympathisers need something analogous to the Federalist society's long term plan (which worked) to overturn Roe v Wade. I'm talking about ending the fictional personhood of corporations and the obligation on executives to pursue corporate profit regardless of the consequences. Not to mention upholding the Constitutionality of bodies like the FTC (assuming they're democratically accountable).
BTW the second half of an old friend said to me yesterday that Robert Reich (when I mentioned you in the conversation) was "far to the left". Being a lawyer involved with corporate contracts, maybe I shouldn't be surprised that someone like that might find you a threat. Recalling the old adage that people are liable to disbelieve anything that threatens their income, I wonder how to deal with such people. Perhaps by pointing to examples of success following restraints on corporate power and profit, like Silicon Valley.
This is so important. Thanks for posting this. Of course, I had no idea. The Biden administration is doing such good work. Matt Stoller identifies the cause of monopolies that chokehold the economy in his book Goliath. He attributes the change of legislation in the 1960's that unbridled control of large companies and gave way to Alphabet, Google, and Facebook as Goliath companies that prevent competition. He urges for legislation to take control. I hope the Democrats have groomed someone to run. While I think we need a statesman, as Biden is, I agree with you, he's too old for a 2nd term.
That’s great news! I was stuck for two years by a non-compete agreement. I signed because it was the only way I could get out of a corrupt company, but I nearly starved for two years.
We've been fighting this for years in the Federal and State procurement worlds. I handled the approval of procurements being made with Federal funding at State and local levels across the country. We never allowed NCA but there were always loopholes the vendors found and the States were more than happy to not go through their often onerous procurement processes to get competition. I will be thrilled if/when this is rule passes!
We are currently repeating living in "the economy of the Gilded Age". I started my career in corporate America in the late 1970's at a well run, Fortune 500 company with a supportive boss & mentor-specializing in employee & executive compensation. Attended many conferences where I saw you speak Mr. Reich. My company paid for my MBA, provided expanded growth & development into other areas of expertise & was paid a good salary with great benefits. I started my executive career here & moved to other companies & industries. I was very lucky to have had my career during the next 20 years. I continued at an an executive level and saw concerning changes in the corporate world over the mid 1980's-2000's. Something was happening to destroy the working world & only in recent years have I understood what happened. I hope the FTC is successful in defeating the NCA's.
I do not recognize the world we live and work in today at all. We are in a sad state in our country & our younger generations are struggling to survive, as well as so many other people. I hope some miracle changes our political system to where those elected serve those they are elected to represent. Our democracy is hanging by a thread ! Thank you for your hard work in sharing your thoughts with so many people- there is hope for change.
Never agree to sign a NCA it. All the knowledge you have gatthered working in a particular industry, is your main asset when looking for another job. Your knowledge is valuable for the new party. It happened to me when I applied for a transfer within the Company to an attractive central location for my frequent travelling. Rather than flying for 14 hours to reach the region I was responsible for, the maximum time from that location was under 3 hours and I could spend the weekends at home. It was refused 3 times.
Then luckily I was approached by a headhunter for a top job, directly reporting to the board of directors of a major industry, though it would involve possible more travelling all over the world.
Nevertheless I filed my request for the 4th time and I informed my Co that a "no" would mean I would be leaving.
Is it in the same industry?
I confirmed.
They responded that the NCA would not allow me to take that job.
I requested them to show the agreement I had signed. No NCA was mentioned.
Within three months I landed at my new preferred location where I worked for the next 17 years.
Yes this is great news, if it is enacted and funded. But good ol' boy Mitch McConnell and his lackey the trumpster, have managed to pack most of the Federal court and worst of all the Supreme Court against the Constitution and the people it tries to serve. From 2003 until 2021 when I left government and went into the private sector I was faced with these non-competes. With small companies I managed to face them down and refuse to sign, but no such luck with the two corporations for whom I worked, but even there I managed to weasel out if they lost their contract, I was able to work for a different company on the grounds I didn't lose the contract they did. But then I was already in my 70's and 80's, with knowledge and experience they needed and willing to travel anywhere on 24 hours notice. My younger coworkers, especially those of both genders who had a family, were not so fortunate and they had to do the bow and scrape to stay employed. I hope this is a win, for all those coworkers, they render a great service to the business world.
"This is a big deal. The FTC estimates that such a ban could increase wages by nearly $300 billion a year (about $2,000 per worker, on average) by allowing workers to pursue better job opportunities."
Wow. That should be highlighted. I had no idea it would make that much of a difference.
Professor:
I had already noted coverage of this new rule. And you are correct in pointing out its significance. Also noted is your inclusion of words such as monopoly and robber-barons. All of these are very significant topics that are way overdue for reconsideration. So a salute and a thank you.
This should be a much bigger story nationwide so the GOP can't gut it without workers noticing. But now that I"m avoiding twitter I''m not able to RT these kinds of issues and articles as much as I used to. sigh.
Non-competes are a joke. Guess how quickly a company will toss a worker if that salary will help make somebody’s bonus. Pretty quickly if there are no worries about taking that talent to a competitor. And yes, there are non-competes enforced (think: Texas) when an employee is terminated for whatever reason. Not everybody can afford legal action against a multi-national corporation.
How do I send a comment to the FTC supporting this extremely needed reform?
Dear Mr. Reich, you are right-on! Keep the information and background coming. You provide a breath of hope in this economically immoral state we've been forced to live in since the FTC, SEC, and other regulatory agencies have been stripped of their power. You are fighting the good fight and I, for one, am grateful.
Thank you for the explanation. I hope the rule survives.
You mentioned SCOTUS. Perhaps leftist sympathisers need something analogous to the Federalist society's long term plan (which worked) to overturn Roe v Wade. I'm talking about ending the fictional personhood of corporations and the obligation on executives to pursue corporate profit regardless of the consequences. Not to mention upholding the Constitutionality of bodies like the FTC (assuming they're democratically accountable).
BTW the second half of an old friend said to me yesterday that Robert Reich (when I mentioned you in the conversation) was "far to the left". Being a lawyer involved with corporate contracts, maybe I shouldn't be surprised that someone like that might find you a threat. Recalling the old adage that people are liable to disbelieve anything that threatens their income, I wonder how to deal with such people. Perhaps by pointing to examples of success following restraints on corporate power and profit, like Silicon Valley.
This is so important. Thanks for posting this. Of course, I had no idea. The Biden administration is doing such good work. Matt Stoller identifies the cause of monopolies that chokehold the economy in his book Goliath. He attributes the change of legislation in the 1960's that unbridled control of large companies and gave way to Alphabet, Google, and Facebook as Goliath companies that prevent competition. He urges for legislation to take control. I hope the Democrats have groomed someone to run. While I think we need a statesman, as Biden is, I agree with you, he's too old for a 2nd term.
Thank you again for your insights and sharing with us
That’s great news! I was stuck for two years by a non-compete agreement. I signed because it was the only way I could get out of a corrupt company, but I nearly starved for two years.
You should include a link to leave a comment. I went to FTC and came up with this link: https://www.regulations.gov/docket/FTC-2023-0007/document
We've been fighting this for years in the Federal and State procurement worlds. I handled the approval of procurements being made with Federal funding at State and local levels across the country. We never allowed NCA but there were always loopholes the vendors found and the States were more than happy to not go through their often onerous procurement processes to get competition. I will be thrilled if/when this is rule passes!