Labor Department: Marcellus Shale Contractors Owe $4.5 Million In Back Wages

Contractors involved in natural gas extraction in the Marcellus Shale region of Pennsylvania and West Virginia must pay nearly $4.5 million in back wages to more than 5,000 workers, following a two-year U.S. Department of Labor investigation.

“An ongoing multi-year enforcement initiative conducted by the U.S. Department of Labor’s Wage and Hour Division offices in Wilkes-Barre and Pittsburgh from 2012 to 2014 found significant violations of the Fair Labor Standards Act (FLSA) which resulted in employers agreeing to pay $4,498,547 in back wages to 5,310 employees,” read a Labor Department statement released on Tuesday.

“It’s part of an ongoing initiative, a multi-year initiative,” said Labor Department spokeswoman Leni Fortson of the Philadelphia office. “These are the findings from the first three years.”

A list of the violating companies can be found attached to this story at http://www.timesleader.com.

Read more: http://www.timesleader.com/news/local-news-news/50834414/Labor-Department:-Contractors-owe-millions-in-back-wages

EDMC Loses $664M; Executives Receive Six-Figure Bonuses

Education Management Corp. lost $664 million during a difficult year in which the operator of for-profit colleges struggled with declining enrollment and intense regulatory pressure.

Compensation for CEO Edward West and CFO Mick Beekhuizen plummeted, mostly on the lower value of stock options. But two executives hired last year to handle legal and compliance matters, issues that have dogged the company, received six-figure bonuses that were guaranteed by their contracts.

The year was a difficult one for EDMC, marked by ongoing lawsuits over its recruiting practices and pressure from lenders to collect on $1.5 billion in debt. The lawsuits could prompt potentially hefty financial penalties and add to the company’s financial troubles.

Read more: http://triblive.com/business/headlines/6981929-74/compensation-total-executives#ixzz3GVevqNX1
Follow us: @triblive on Twitter | triblive on Facebook

Montgomery County Holds Line On Taxes In 2014

Map of Pennsylvania highlighting Montgomery County (Photo credit: Wikipedia)

NORRISTOWN, PA — Montgomery County will balance its 2014 budget without raising taxes, according to Chief Financial Officer Uri Monson.

It will be second straight year tax rates in the county have not been raised, Monson told the county commissioners Thursday.

The county projects $371,510,842 in total revenues and $371,473,973 in expenditures for 2014, with a year-end operating surplus of $36,869 in the general fund budget, Monson said.

The county also expects to have just over $41 million in the fund balance at the end of the year, he said.

Read more: http://www.pottsmerc.com/government-and-politics/20131122/montgomery-county-holds-line-on-taxes-in-2014