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Have you ever wondered how a credit card transaction works? What is the process flow after swiping the small credit card through that little black box? These questions bothered me for some time and finding the answers lead to a diligent job search. Consequently, the search ended when I found employment at Vantiv, a Merchant Credit Card processing company in Houston, Texas. The year was 1998; the company offered me a customer service position in their call center. Eagerly I accepted the job;…

Every company is always thinking about how they can maximize their total earnings, and credit card companies are no different. While students may be one of the better targets for this because the majority don’t have credit cards and are low on funds; they also are some of the ones in most danger of overspending with not being knowledgeable. Even though this is the case, I think if the credit card companies are doing this in a more transparent and informative way than normal credit card signups,…

minimum wage (A new Gilded Age, 2009) and offer some valid arguments to support their points. The editorial, “A New Gilded Age” suggests that now is the perfect time for an increase in minimum wage in the United States. The authors argue that the Fair Labor Standard Act was signed into law for a reason and that we are no closer to achieving that goal then we were when it was signed. They contest that the while the economy is getting better, profits are only going to those at the top of the pay…

Credit first began in 1910 and first appeared in the Sears catalog. 1950 was the birth of credit cards when Frank McNamara established the Dinner’s Club. Years later the Bank of America offered the BankAmericard and later changed its name to Visa. In 1986 Sears created a store credit card and quickly became the most profitable division. Today we buy everything on credit while parents and grandparent bought almost nothing on credit and thought it was a bad idea. There are two different types of…

Book Review Summary In Raising Financially Confident Kids Hunt seeks to equip readers to prepare their children for the reality of managing money, and how to do so without getting into debt. American society, the credit card industry, and advertisers, all strive to turn children into materialistic consumers who spend money without a second thought. Hunt describes her own childhood and how she utilized money and products to feel better. Carrying this same idea into adulthood she spent more…

Q5/ What department is usually responsible for a direct labor rate variance? What department is usually responsible for a direct labor efficiency variance? Explain. Direct labor rate variance shows the difference in hourly wages from standard to direct labor workers. While it is important for workers to know the rate of hourly wages, it is more important for managers to investigate the rate variances because it can help predict the reason for unfavorable rate variance in most cases and explain…

Garcia v. City of Antonio The issue on whether compensation and overtime pay is applicable to excluded and non-excluded security personnel is a major issue across various states. Even though the Fair Labor Standards Act provides direction regarding this issue, it remains to be a major concern that has attracted huge attention throughout various states. The U.S. Supreme Court and Congress have been forced to make several landmark decisions regarding whether compensation and overtime pay is…

Minimum wage is a standard budget created to provide the American workers protection and fairness. It is what saved American workers during the horrid Great Depression period when everyone seemed to be bankrupted and lost. Federal minimum wage saves workers from being overworked. It was introduced during the 1930s around the time of the Great Depression. The Great Depression was a worldwide depression virus that wrecked economies and the stock market ruining thousands of lives.…

Theft in anyway has always been unethical in any human environment. Employee theft especially can have a huge effect on any business, corporation, establishment, etc. Theft acts as a cost directly incurred by an organization, employees playing the key variable in theft, can steal money, products or time. Theft can occur at any level of a business from the cashier that is still in high school to the CEO of the company. Theft is something a business wants to diminish as much as possible,…

Understating the FLSA Overtime Rule in Today’s Social Setting What is the FLSA overtime Rule? The Fair Labor Standards Act (FLSA) overtime rule determines whether employees are eligible or exempt for overtime pay. Under the rule employees may be classified as exempt due the rate of pay and the type of work that they perform. Perhaps most importantly, employees who are classified as exempt are not eligible for overtime pay for any hours worked over 40 during a workweek. Similarly, an employee who…