No headlines say this. A few lines in some of the financial papers hint at it, explaining why every rideshare and gig delivery company just took a massive stock hit. Frankly, when it comes to hard news, it’s tough to go wrong with the financials.
On Wednesday the 5th, President Biden’s Department of Labor issued a reversal for the Trump-era “final rule” that defined most gig workers as non-employees under the Fair Labor Standards Act. In an interview, Labor Secretary Marty Walsh explained that this was designed to make gig workers eligible for the benefits everyone else gets. In reality, what it’ll do is force the contracting companies to limit worker hours, particularly during slow periods, so they aren’t suddenly required to pay overtime for someone who’s just sitting around doing nothing. For customers, it’s going to be just that much harder to get a ride at odd hours or to get food delivered.
Dateline: Chicago 06 Jan 2020
Byline: The Not Fake News, Actual
The fix is in, boys and girls. Chicago is as crooked as always. I know, I know; that’s not actually news. But it’s what I’ve got, so read it and shaddap.
It’s dead on the downtown Chicago streets today. The weather’s turned off nice and there’s a few people walking, but the normal traffic is… well, it’s downtown Chicago, so the traffic is deadly. Pedestrians, look both ways crossing one-way streets, and don’t jaywalk (more…)
Puerto Rico is facing a catastrophic financial crisis similar to that of Greece. In a few minutes, the island government will default on a bond payment, which will generate an automatic sequence of events similar to a run on the banks.
This is all our fault. And we’re not helping. (more…)