The FTC #noncompete rule is good for growth, but bus groups are suing.
"SV workers don't worry about noncompetes bc -not enforced in CA/12 sts. US' largest -most "knowledge-intensive" IDUs: operate w/o shitty bosses being able to shackle their best workers to their stupid workplaces for years after those workers told them to shove it shows you what a lie noncompetes are based on. If a capitalist wants to retain their workers -offer your workers better treatment/wages." https://pluralistic.net/2024/04/25/capri-v-tapestry/
A co owned by an R megadonor & tax adviser to #TFG has filed suit to block the FTC’s #noncompete rule.
Ryan LLC is a tax firm known for aggressively working the tax code to lower payments for corp clients.
"FTC: no substantive rulemaking authority *it does even if it does, this is a major Q (the FTC was created to deal with major questions beyond antitrust's reach) & FTC's unconst. Just has to convince RW judges."
-D Dayen
"The Federal Trade Commission on Tuesday banned #noncompete agreements for most #US workers with a new rule that will bar employers from enforcing clauses that restrict #workers from switching employers within their industry...
The Federal Trade Commission has voted 3-2 along party lines to ban new noncompete agreements and make most existing agreements non-enforceable for everyone other than senior executives. FTC Chair Lina Khan says lifting the ban will allow workers the “freedom to change jobs,” which “is core to economic liberty.” The decision is expected to be challenged by the Chamber of Commerce, which argues noncompete agreements protect trade secrets. Read more from CBS News about the decision.
Good, but with a compromised SC court, the bus lobby imperils the FTC.
"FTC to Finalize Noncompete Rule Today. The CofC will likely try to strip the agency of its rulemaking authority.
~30M AMERICANS ARE BOUND by these restrictive covenants that employers wield to prohibit worker mobility. The agreements are used to shackle workers to their companies, taking away one of the most impt. tools -employees at non-unionized shops have to negotiate up wages-."
If end-stage capitalism has a motto, it's this: "Stop hitting yourself." The great failure of "voting with your wallet" is that you're casting ballots in a one party system (The Capitalism Party), and the people with the thickest wallets get the most votes.
--
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
The @FTC and @ATJDOJ are dragging Big Tech and Big Meat and Big Publishing into court. We're seeing bans on #noncompete clauses, and high-profile government enforcers are publicly pledging never to work for corporate law-firms when they quit public service:
It's a double-whammy that defines 21st century American life: a corporation gets caught doing something terrible, exploitative or even murderous, and a government agency steps in - only to discover that there's nothing it can do, because Reagan/Trump/Clinton/Bush I/Bush II deregulated that industry and stripped the agency of enforcement powers.
Take #Section5 of the #FTCAct, which gives the Commission broad powers to prevent "unfair and deceptive" practices. Since the 1970s, the FTC just acted like this didn't exist, even though it was right there all along, between Section 4 and Section 6.
Then, under the directorship of FTC chair #LinaKhan, Section 5 was rediscovered and mobilized, first to end the practice of #noncompete "agreements" for workers nationwide:
FTC Ban on Noncompetes Is a Victory for the US Economy (www.bloomberg.com)
By giving workers more bargaining power, the new rule will make businesses more competitive.