The Day – Foxwoods union traders teamed up with the rest of the casino workers

The coronavirus-induced shutdown of Foxwoods Casino Casino occurred during contractual negotiations between the casino management and the syndicated table game dealers represented by Local 2121 of the United Auto Workers.

The casino was closed to the public on Tuesday evening for two weeks, although the shutdown could probably take much longer. Foxwoods has provided its workforce to over 5,000 employees.

Following the closure of the casino, the union informed its members that Foxwoods would not accept paid workers’ leave. In the past few days, the union has helped members apply for unemployment benefits at local Norwich offices.

“Our club is very disappointed by Foxwoods who refused to negotiate paid leave for our members in the week before announcing the inevitable closure,” said John DelMonte, president of Local 2121, in a statement. “We were proactive in seeking their assistance early, and instead chose to be responsive. The venue was given 24-hour notice to try to notify all of our 1,200 workers that they would be forced to work for two weeks and forced to collect unemployment if they wanted minimal compensation.

“This caused serious difficulties for our members and 4,000 other Foxwoods workers, as well as overloading our state’s unemployment system,” said DelMonte. “We expected better.”

In response, John James, Foxwoods president and CEO, made a statement.

“These are unprecedented times for all of us and we are making business decisions based on a variety of factors, including the safety of our team members and guests, as well as the requirements and / or guidance of orders / requests from the Governor and other heads of state, “said James. “We recognize and respect our duty to bargain and intend to continue this obligation as things progress. However, we must also be agile as things develop rapidly. We evaluate and respect all the members of our team and we want to do what we it is better for them and business so that we can all get out of it in a way that allows us to recover. “

The terms of the previous Local 2121 contract, which expired on 31 December 2019, remain in force until a new agreement is reached. Neither party commented on the state of the ongoing negotiations.

Mohegan Sun also closed to the public on Tuesday evening and, like Foxwoods, canceled or postponed all the shows and events that had been scheduled for April.

“During our temporary closure amid the unprecedented global health crisis, almost all of our team members were put to flight,” said Jeff Hamilton, president and chief executive officer of Mohegan Sun. “During this time, members of the teams will continue to receive health benefits, access to key services and regular communication remains in effect. Our leadership team’s top priority is to return all interested team members to a reopening, at which point we have the utmost confidence that we will return stronger than ever … “

Casinos, both commercial and tribal, have closed across the country. The Rhode Island Twin River casinos in Lincoln and Tiverton, which initially expected to close for a week, will remain closed on March 27 at least, state officials said.

Las Vegas-based Wynn Resorts, which owns Encore Boston Harbor in Everett, Massachusetts, which closed on Sunday, has announced that it will continue to pay employees on all its properties for 30 days during the coronavirus pandemic.


Canada launches tax increase and tax deferrals for coronavirus reduction

OTTAWA – Canada has announced a package of tax incentives and tax deferral of almost 4% of its gross domestic product, marking an aggressive effort to contain the economic damage caused by the coronavirus pandemic and lower oil prices.

Officials added Tuesday further financial aid is likely in sight, including direct aid for the tourism, airline and energy sectors, which are starting to lay off workers, suspend operations and scale back investment plans. . Canada asked people to work from home if possible and to abstain …


Coronavirus: Suspending Rent and Mortgage Payment for People with Diseases, says Jeremy Corbyn

The government is expected to introduce a vacation payment for rent and mortgages as part of its emergency legislation to support people affected by the coronavirus, Labor said.

In a letter to Boris Johnson, Jeremy Corbyn also called for improvements in sick pay, suspension of requirements in work centers and support for food banks that distribute supplies.

The call comes from fears that people with the virus may continue to work rather than self-isolate themselves because of the cost of staying home, making the pandemic worse.

Ministers are drawing up plans for emergency legislation to help fight the virus, reportedly including powers to detail infected people and force schools to remain open. They will also have a new public information campaign from Sunday.

But arguing that tackling the pandemic “requires political and scientific judgments”, Corbyn has called for a range of social protections to cushion the economic blow that the disease would have had.

“Over the past few weeks, we have tried to avoid fueling public panic and supporting the vital work of health and scientific officials and consultants. We are committed to ensuring the full contribution to the collective effort to protect public health, “said the outgoing opposition leader in his letter to the prime minister.

“However, this crisis requires political and scientific judgments and clearer public communication based on greater transparency of scientific and behavioral evidence and models than has been provided to date.”

The measures suggested by the work include:

• Full sickness allowance and protection of lost profits from day onwards for all workers, including self-employed and low-paid workers

• A general increase in compulsory sick pay to align it with amounts paid in other European countries, which Britain is currently lagging behind

• Elimination of requirements to participate in universal credit interviews at work centers in all cases, suspension of penalties and reduction of the waiting period for new requests for allowances from five weeks to one

• Government support to local authorities that work with food banks to purchase and distribute food stocks

Some of the proposals reflect measures already taken in other countries: Ireland has expanded its disease allowance in light of the virus. RBS, NatWest and other lenders have already said that they will allow customers to defer mortgage payments, while the government has loosened some requirements to participate in the Budget job centers last week.

However, the improvements in sickness benefits announced by the chancellor last week were rather modest and still leave self-employed workers and the statutory rate at one of the lowest levels in Europe.

Corbyn asked for a meeting with the prime minister to discuss the issues. Last Saturday, the opposition party also supported a request from the GMB union to request beds in private hospitals for use in the NHS, which is expected to endeavor under the numbers indicated to be infected.

Ministers are expected to announce a new public information campaign on the virus next week, following shadow shadow secretary Jonathan Ashworth’s call that the government “goes to the explanation phase” of their program to reassure the public.

Under public pressure on Friday evening, the government reported that it would likely bring restrictions on next week’s mass meetings, a policy that spent the week minimizing effectiveness.

The government’s chief scientific advisers alternately claimed that the implementation of widespread “social distancing” policies could now have little effect or undermine efforts to build “flock immunity” in the British population.

But with the UK increasingly isolated in Europe as one of the few states not to introduce severe measures, Whitehall sources say some restrictions may come in next week, although details have yet to follow.

The World Health Organization (WHO) and the European Center for Disease Control and Prevention (ECDC) recommended the rapid implementation of social withdrawal measures last week, while most British neighbors such as Ireland, France, Denmark and Belgium followed advice.

Health Secretary Matt Hancock said on Saturday evening that it was inevitable that more people would be infected.

“Coronavirus is the largest public health crisis we have faced in a generation. It continues to spread both in the UK and around the world and we have to accept that unfortunately many of us will be infected, “he said.

“The government and the NHS work 24/7 to combat this virus. We must all work together and do our part in protecting ourselves and others, as well as our SSN, from this disease. This expanded campaign will focus on ensuring that the public knows exactly what they should do to keep themselves and others safe.

“Washing your hands regularly for 20 seconds or more remains the most important thing an individual can do, but now we must also ask anyone with a high temperature or a new continuous cough – however slight – to isolate themselves and stay home for seven days: You should continue to follow our online clinical advice and not go to A&E or your doctor if you develop mild symptoms.

“The fight against this virus will require a national effort: we all have a role to play in slowing down its spread and protecting the elderly and vulnerable.”

The public information campaign launched by ministers is expected to include televised announcements with Professor Chris Whitty, Chief Medical Officer, who appeared alongside the Prime Minister during press conferences. The advertisement will be voiced by actor Mark Strong, who played the role of Captain Smith in the 1917 film.

Dr Yvonne Doyle, England’s medical director for public health, said:

“We know that the new coronavirus affects the most vulnerable most, and it is therefore vitally important that we do everything we can to protect them. This new guide illustrates what we can all do to help save the lives of those most at risk.”


Should I go to the gym? Should I go to a restaurant? Your guide to staying healthy during the coronavirus pandemic

There is no doubt that if you have been infected with the new coronavirus or if you have symptoms of the COVID-19 disease, you should not leave your home unless otherwise indicated. But if you have no symptoms or reasons to believe you have been exposed, you don’t have to shut yourself up at home.

In the United States and around the world, health authorities advise people to practice “social distancing” to contain the spread of the virus by staying about a meter away from each other, skipping large social gatherings and working from home (if possible). Governor Andrew Cuomo announced the ban on gatherings of over 500 people in New York state on Thursday.

These policies can help slow the spread of the virus by reducing person-to-person contact, but isolation for prolonged periods could trigger high levels of depression and anxiety.

While people are looking for ways to safely get out of their homes, here are some things to do and not to venture out in public, and precautions you can take to limit the risk of contracting COVID-19.

(Before proceeding, you may want to read some of the myths and facts of COVID-19. Also, if you need to self-isolate or self-quarantine, here are some helpful tips.)

Should you go to the gym or yoga class?

The gym is an escape from stress and anxiety for millions of people every day. But an emerging source of anxiety is setting foot in that same place.

Sweat alone cannot transmit COVID-19, Dr told the New York Times. David Thomas, professor of medicine and director of the infectious diseases division of the Johns Hopkins University School of Medicine.

What it can, however, are certain surfaces.

According to some estimates, coronavirus can live on metal, glass and plastic surfaces for up to nine days. And this could include free weights, treadmills and other sports equipment.

Fitness centers nationwide are stepping up cleaning efforts by disinfecting mats and equipment more frequently.

305 Fitness, a Zumba chain that presents a DJ during classes in New York, Washington, Boston, Chicago, Los Angeles and San Francisco, sent an email on March 3 encouraging customers to call their studies early if they don’t hear well, promising to be “extremely flexible in returning class credits and waiving late cancellation / no-show fees.”

The gym chain stopped using any equipment such as weights and mats during cardio classes, said Sam Karshenboym, chief operating officer at 305 Fitness. Cleaning staff are disinfecting changing rooms, door handles and other contact points more frequently.

“We also ask customers to exchange punch pumps and five highs with instructors before class for a kick in Charleston or a bump on the butt,” said the gym’s message to the customers.

305 Fitness has also halved the size of its classes. In New York City it has classes limited to around 15 people, said Karshenboym. “We have also introduced home cardio classes, so customers can still get a piece of 305 [even] if they can’t get to the studio. ”

That said, it might be a good idea to bring your gear to the classes that require it. It’s also worth calling ahead and asking which products your fitness center uses to disinfect surfaces. The Environmental Protection Agency has a list of over 300 cleaning products that it deems effective as coronavirus fighters.

It may also be safer to avoid tight classes or attend the gym during off-peak hours, as the virus spreads more easily among people who are within about 6 feet of each other, according to the U.S. Centers for disease control and prevention.

On Saturday, 305 Fitness informed customers via email that it would temporarily close all locations for two weeks. “The 305 leadership is giving up on salaries so we can better support our team of instructors, DJs and managers in this difficult time,” said an email. “Social distancing is an act of solidarity right now. If we take preventative measures in advance, we can get back on our feet faster. “

Should you go to the cinema?

In China, where the virus originated, the government ordered the closure of 70,000 cinemas in the nation. In Italy, where there were over 21,000 cases of coronavirus on Saturday afternoon, practically all companies have closed. The same happened in France, where there were over 3,600 cases on Saturday afternoon. Before cinemas closed in France, only 50% of capacity was allowed, according to CNBC.

Cinemas in the United States may temporarily close in the coming days, a source described as familiar with the issue reportedly reported in the Wall Street Journal.

Dr Maria Van Kerkhove, an infectious disease epidemiologist at the World Health Organization who studied COVID-19 for two weeks in China, found that the virus spread more easily to people living with someone who had COVID- 19 than through common dissemination. However, when common diffusion occurs, cinemas and public transportation are the primary places of transmission of viruses, he told STAT News.

Alamo Drafthouse Cinema, a cinema chain where viewers can eat and drink during the show with 37 locations in the United States, told customers via email that it was “sanitizing seat armrests, cup holders and tables during cleaning of the theater before each show “. Staff are required to wear latex gloves when serving customers and cleaning facilities.

reported: The coronavirus isn’t frightening the movie crowd, while Pixar’s “Pixar” tops the box office

In California, public meetings are limited to 250 people. The Alamo theater in New Mission, California is the only location in the state that can hold more than 250 people. Alamo “has disabled seat sections” in that theater, Alamo’s CEO and founder, Tim League, said in a note to customers posted online.

“In addition, we are demanding that all parties leave an empty seat between their group and the other parties,” said League. “If you don’t have an empty seat, you can see a manager who can move you to one of the empty sections.”

The chain declined to comment further on additional precautions taken in handling food.

Should you take the subway?

People who travel by public transport are more at risk of contracting an acute respiratory infection than people who cycle, walk or drive their cars. This is according to a 2011 study published in the BMC Infectious Diseases, a peer-reviewed medical journal on infectious diseases.

The study found a significant connection between acquiring an acute respiratory infection and traveling by bus or train five days before the onset of symptoms.

Having said that, not all workers are able to work from home and many who will not be able to use public transport to go to work. The Metropolitan Transportation Authority, which serves 8 million customers a day in the greater New York City area, said employees disinfect trains, subways and buses twice a day.

“Good hygiene remains the best defense against COVID-19,” said Patrick Warren, MTA’s security officer. “The MTA has continued its disinfection efforts, ensuring that those common contact points in stations, trains and buses are disinfected. We also ask our customers to double their hygiene efforts, to stay at home in case of illness and to follow the messages we have in our stations. “

Mayor Bill de Blasio advised New Yorkers to plan “to have extra travel time on your daily journey”, adding that “if the train that stops is too full, move to another car or wait to catch the next one. If you can, go by bike or walk to go to work. “

Should you have a hairstyle or a face?

Hair and nail salons and barbers are all linked to high risks of various types of infections, according to research from the American College of Gastroenterology.

Even before COVID-19 started to spread, studies show an increased likelihood of contracting a fungal or skin infection from tools such as nail clippers, scissors and brushes that are not discarded after use.

In response to the pandemic, Sephora
+ 4.02%

he informed customers that he would stop all in-store beauty services, including skin care and makeup applications. Ulta Beauty Inc.
+ 4.29%

he has not suspended these services in all stores, but said he encourages customers to reschedule appointments, especially if they are not feeling well.

Both companies have declined to comment on any additional precautions they are taking right now.

A New York City-based barber shop, Otis & Finn, sent an email to customers informing them that they could cancel any appointment at any time. “According to our policy, barbers always wash their hands after each customer and we encourage our customers to feel free to also use the sinks and soaps in the common area of ​​the shop to wash their hands (in addition to the soaps made available in the bathroom), “says the email.

Shawn Dixon, owner of all three Otis & Finn locations, said: “We were really prepared for this [coronavirus] because we attach great value to the cleanliness of our shop at all times. “He added that” even to be a barber you need to pass health and safety tests on hygiene, which is useful because they already know how to clean properly “.

Shawn Dixon, owner of the Otis & Finn barber chain, with partner Kirk Riley, who is a barber at Otis & Finn.

Shawn Dixon

Dixon added that he has always encouraged barbers to avoid working when they are not feeling well.

“Some barber shops think that a dirty place is part of the culture, but it has never been this way for us,” said Dixon. He said he can recall receiving only two calls this week from customers asking for the cleaning measures that barbers are taking. Most customers “mainly ask if we are open”.

Is it safe to eat out in a restaurant?

Coronavirus is not a food-borne disease, said food safety expert Benjamin Chapman, a professor at North Carolina State University. This means that someone cannot transmit the coronavirus by touching the pizza crust.

“The risk is food settings,” said Chapman. “If someone was sick, walked into a store and coughed on the handles of self-service buffet utensils and then touched your face, you could get coronavirus.” Because of this risk, it is increasingly important to be aware of what is touched in these settings and be sure to wash your hands before eating.

Chapman said he’ll go to all the same restaurants he went to before the coronavirus novel that causes COVID-19 to start spreading in the United States, he is more careful about touching salt shakers and menus.

Amid the epidemic, some people are avoiding going to restaurants and restaurants that they normally visit and instead stock up on non-perishable foods such as oat milk and rely more on the Amazon
+ 6.46%

and other delivery services.

This hurts small businesses like Sushirrito, a sushi burrito chain with six locations in San Francisco. Although Peter Yen, founder and CEO of Sushirrito, started offering a 20% discount on delivery orders last week, he said business was so slow that it may have to temporarily close its stores.

Not to be missed:Coronavirus is having a devastating impact on small businesses launched in San Francisco and Silicon Valley

For the time being, all six Sushirrito stores remain open. His staff was offered a refresher course on maintaining sanitary conditions and added more hand sanitizer that customers can use.

“First, we had great success when all the big tech companies started asking employees to work from home, [and] then all the conferences were canceled, which reduced tourism, therefore eliminated a large source of sales, “Yen told MarketWatch.” My company relies on pedestrian traffic and catering for large offices, and since everything what has died we have decided to concentrate only on the deliveries “.

“Hungry and stuck in the house?” read the subject of a recent email sent by Sushirrito to customers. “We know that many of you work from home or curl up in the office, so we want to continue being there for you with our food delivery service. For the month of March, get a 20% discount on deliveries to make sure you are well fed! “

Peter Yen, founder and CEO of Sushirrito

Peter Yen

“Part of me feels like it’s a bit of an overreaction,” Yen said of the response to the outbreak. He would like, he said, that people would make a greater effort to support their local businesses.


Labor Leadership Interviews: Lisa Nandy | news

Lisa Nandy entered the Labor leadership race on a mission to convince her party to confront what she saw as the reality of her defeat in the 2019 election. She dismissed some of the current leadership’s explanations of what had gone wrong: not it was simply Brexit or a failure to cut some otherwise popular policies, but it went much deeper.

She says Anushka Asthana that from taking the previous Labor government to court for the treatment given to asylum seekers to resistance to constituents – and to the leadership of its party – on Brexit, it has never avoided unpopular causes or difficult problems.

Also today: Nils Pratley on why coronavirus is ruining financial markets.

Lisa Nandy

Director of photography: Jane Barlow / PA

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Should I go on a cruise while the coronavirus is spreading? Cruise lines offer free cancellations for agitated travelers – and big discounts for tempting others

Have you planned a cruise? If so, should you cancel due to the worldwide spread of the coronavirus epidemic? If not, is it a good time to go? After all, cruise ship companies are launching deals starting at $ 300 for week-long trips after a string of bad news related to COVID-19.

But is it enough to get on board given the current climate around the coronavirus?

Worldwide, there have been 105,940 COVID-19 cases and at least 3,559 deaths since Saturday evening; 58,402 people worldwide have recovered, according to data published by the Johns Hopkins Whiting School of Engineering Center for Systems Science and Engineering.

While the number of new cases in China continues to decline, infection groups in Iran, Italy and South Korea remain on the rise. In the United States, 19 people have died, health officials said, and there are approximately 424 confirmed cases Johns Hopkins added.

See:Governor Cuomo declares a state of emergency in New York for coronavirus

The biggest threats to those thinking of a cruise are the prospect of being quarantined on a ship if a port refuses to allow the ship to dock and, of course, someone aboard positive tests and the virus that spreads between crew members and passengers.

The U.S. Centers for Disease Control and Prevention advise people not to cruise to or within Aisa. “Several destinations in Asia are experiencing outbreaks of new coronavirus infection,” said the CDC. “Cruise ship passengers are at greater risk of spreading infectious diseases from person to person.”

See also:Do I have to cancel my flight? Will recirculated air on an airplane spread the coronavirus? Here’s what you need to know before traveling

A Princess Cruises ship, the Grand Princess, gets stuck off the coast of California on Saturday after an elderly man who had sailed on the ship’s previous voyage died the new coronavirus last month. About 21 people tested positive for COVID-19 coronavirus-transmitted disease on the ship.

Another Princess ship, Diamond Princess, was quarantined from Japan for two weeks. Dozens of people tested positive for the virus and seven passengers on that cruise ship died, Japanese public broadcaster NHK said on Saturday. Princess Cruises did not respond to requests for comment.

Cruise ship travel is especially popular with families and the elderly. Younger children with a strong immune system have the lowest mortality rate compared to COVID-19, but those with a stronger immune system may be prone to spread the virus to those most at risk of dying from the disease.

Coronavirus has an estimated incubation period of up to two weeks. This can affect how quickly an outbreak spreads. If people die of a disease earlier, they are less likely to walk on the bridge, swim in the pool, eat in restaurants, and therefore less likely to spread the virus.

“The incubation period for SARS was typically 2 to 7 days, although in some cases it can last up to 10 days,” said the CDC at the time. Most cases of severe acute respiratory syndrome occurred between November 2002 and July 2003. “In a very small percentage of cases, incubation periods of up to 14 days have been reported.”

Passengers on board the MS Westerdam cruise ship with measured temperatures.

Getty Images

After several other high profile cases of cruising quarantined and stuck in the open sea, people are obviously nervous about cruise travel. Cruise companies have updated their cancellation policies to allow passengers to cancel and rebook travel on future dates.

• Carnival Corp.
which owns Princess Cruises, allows passengers to cancel a trip without penalty between today and May 31, but must use their credits by March 31, 2021.

• Celebrity Cruises and Royal Caribbean

they also allow travelers to cancel up to two days before departure between now and July 31, but must use their credits by December 31, 2021.

• Passengers on the Norwegian Cruise Line

you can cancel the scheduled trips two days in advance between today and July 31 and must use your travel credits by December 31, 2022.

• Disney cruise
+ 1.13%

passengers may cancel voyages scheduled for navigation before May 31 with an advance of at least one day and must redeem their credits within 12 months of the original cruise date.

Passenger John Miller of Seattle, Washington, is overwhelmed with excitement by disembarking from the cruise ship MS Westerdam after being stuck for two weeks moored in February off the coast of Sihanoukville, Cambodia.

Getty Images

Disney, like most major cruise lines, has introduced precautionary measures for future navigation and warns passengers that they will not be able to disembark in some countries if they have recently visited or even stopped in a place where there has been a severe coronavirus outbreak.

Disney said all guests and crew members will be checked by a nurse for temperature before boarding. “Additional medical screening will be required for anyone with a temperature of 100.4º F or higher and may not be able to navigate with their travel team,” he added.

“If your cruise includes a stop in Nassau or Castaway Cay, keep in mind that the Bahamas will not allow anyone to disembark in any port in the Bahamas if they have been to China, South Korea, Italy or Iran in the last 20 days before arrival, “Disney Cruises said in a statement.

The company added: “If your cruise includes a stop in Jamaica, keep in mind that in addition to the above locations, officials will not even allow guests who have traveled to, from or through Singapore within 14 days of arrival to disembark. These guests will not be able to navigate. “

How COVID-19 is transmitted


I am 59 years old and my husband and I earn $ 500,000 a year, but we have a credit card debt and nothing is spared for retirement. What should we do?

Dear Catey,

My husband is 65 years old, a lawyer and partner in his studio with a thriving practice; I am 59 years old. We have three children (more on that later), and I was lucky enough to be a stay at home mom. Now I work part time, which is essentially just “playing” money. Even though I studied in college, I never had a career away from home.

Our youngest recently graduated and now works full time. We provided college education for all three children and were able to afford it easily. We earn very well (over $ 500,000 a year), even if we live in an expensive city and our income tax bracket is astronomical.

Our eldest son, a son, has had mental health and addiction problems for a decade. We spent a small fortune trying to help him by sending him to multiple rehabs, sober housing, psychiatric counseling, living expenses when he was unable to work or go to school, paying for his university education, etc. It took its life several years ago, which left us completely devastated. We have done our best to move forward, but the money for our retirement isn’t just there.

The benefits are that my husband is healthy, fit and energetic and has excellent legal practice. Assuming he remains healthy, he can work for many more years and plans to do so. We own a house that will be paid for in 7 years and is currently worth around $ 1.4 million. If we sold it tomorrow, we could earn a million dollars in shares. Our city is growing rapidly and house prices have become very high, so it would be difficult to find a home for less than $ 750,000 (if we were lucky).

Would you recommend sitting while our house continues to appreciate or are you trying to downsize and pay a house in full with cash? We bought our house for a song when the market was falling. We have emptied our IRAs and have a large amount of credit card debt, which I hope I have paid in full in the next 18 months – and would like to save on retirement.

I am mortified to speak with a financial advisor. Any advice would be sincerely appreciated.

Thanks so much,

Dear LS,

It was difficult for me to know how to start this column for you, as well as offering my deepest condolences to your son. I think any parent who reads this (and I’m one of them) may be connected to your willingness to spend so much of your savings on helping your child.

Don’t be “mortified” to speak with a financial advisor. You are human and if there is one thing I have learned from writing about personal finance for a decade, it is this: almost everyone has something in their financial life that they feel embarrassed about.

The silver lining here is that you have a high income and a ton of equity in your home. You have options even though it may not seem right now. Here’s how many experts think you should proceed in the future.

Sell ​​your home and move to a cheaper place, using the proceeds from that sale to pay off your credit card debt as quickly as possible and start saving more for retirement, says certified financial planner Brian Bruggeman, vice president by Baker Boyer in Walla Walla, Wash. You could buy a cheaper seat. Or you might even consider renting for a few years, says Shannon McLay, founder and CEO of The Financial Gym.

If you can, consider switching to a credit card with an interest rate of 0% while paying off the balance, but be sure to pay it off before the 0% period expires. It’s also important that you use this time to make a budget and see where you can make bigger cuts in your spending to free up as much money as possible, Bruggeman adds.

“Pay off your credit card debt as soon as possible. The less debt you bring, the more spendable income you will have in retirement – period,” explains Kimberly Foss, founder of Empyrion Wealth Management in Roseville, California.

You should also start saving on retirement with those extra funds, says Foss, who recommends paying 20% ​​on the new home (to avoid having to pay private mortgage insurance) and investing the rest to “help provide additional retirement income. ”

As for how to start saving for retirement, “the first place to look for is their workplace retirement plans,” says Bruggeman, who suggests your maximum plan to your husband and you do the same if you have a plan. of work. Since your husband is over 50, he can contribute $ 26,000 to 401 (k) in 2020.

So, he adds, consider maximizing any tax-facilitated accounts you have access to, such as an HSA, or potentially financing what is called a Roth IRA backdoor. (You can read more about Roth’s backdoor IRAs; Foss notes that you should consult a tax advisor if you are considering this plan.) “The rules around Roth’s backdoor IRAs are a little tricky if they have external IRAs, so they want to do homework before pursuing that strategy. If they are able to finance their employer plans and other accounts with tax breaks, they should fund a joint investment account and invest in a tax efficient portfolio, “he adds. (Read more about sponsored IRAs here. )

It is also a good idea, as you are already planning, that your husband continues to work as long as possible, experts say. And although you may be tempted to take social security early, don’t do it.

“Your husband should delay taking social security benefits until he is at least 70. As long as he is in good health and enjoys working as a lawyer, he should not start receiving social security benefits. His benefit will reach her maximum level at the age of 70, although she won’t have to start applying for it until it’s ready. You should consider applying for your spousal benefit when your husband turns 70, regardless of whether he retires or not, “says Foss.


Mike Bloomberg has said he will release former NDA employees. That’s why you should think twice before signing one

Former New York Mayor Mike Bloomberg promised Friday to release former women addicted to nondisclosure agreements, days after Senator Elizabeth Warren of Massachusetts hammered him for silence agreements in the Democratic presidential debate in Las Vegas.

The billionaire said in a statement that his namesake company had identified three non-disclosure agreements signed with women for over three decades “to respond to complaints about the comments they said I had made.” Those women would have been released from the confidentiality agreements if they had contacted the company, she said.

“I have been thinking a lot about this issue in the past few days and have decided that as long as I manage the company, we will not offer confidentiality agreements to resolve the claims of sexual harassment or illicit behavior ahead,” said Bloomberg.

“I recognize that NDAs, particularly when used in the context of sexual harassment and sexual assault, promote a culture of silence in the workplace and contribute to a culture of women who do not feel confident or supported,” he added. “It is imperative that when problems occur, the workplace does not address only specific accidents, but the culture and practices that led to these accidents. And then leaders have to act. “

After ABC News

DIS, -1.00%

Reported on lawsuits alleging that the billionaire had created a hostile working environment in his company with sexist comments, former employees told the store that they could not speak publicly due to confidentiality agreements and worrying concerns. Bloomberg, who at the time refused to free women from those agreements, denied the charges in the lawsuits.

On Wednesday, after the moderators of the debate raised Bloomberg’s past remarks on women, the businessman said he had “no tolerance for the type of behavior that the #MeToo movement has brought to light” and has highlighted various women who had placed in leadership positions in his company, foundation and city government.

Warren, in turn, focused on NDAs.

In some cases, silence agreements will include non-denigration clauses that prevent someone from saying negative things about other people who signed the agreement.

“What we need to know is exactly what is hiding out there. It has gotten a number of women, dozens, who knows, to sign non-disclosure agreements for both sexual harassment and gender discrimination in the workplace,” he said. “So, Mr. Mayor, are you willing to free all those women from those non-disclosure agreements so you can hear their side of the story?”

Bloomberg replied that “there were very few non-disclosure agreements”, without specifying an exact number.

“None of them accuse me of doing anything, apart from maybe they didn’t like a joke I said,” he said. “There are agreements between two parties who wanted to keep silent and it depends on them. They signed those agreements and we will live with it.”

Bloomberg’s confidentiality agreements are far from the first to attract national attention. The controversy involving President Trump’s alleged relationship with adult film star Stormy Daniels focused largely on the payments he was receiving from Trump’s personal attorney Michael Cohen. The deal would have prevented her from publicly discussing their relationship.

Trump denied the affair and said he was unaware of the payment at the time, although the president made conflicting statements about the scandal.

Many women also claimed that they were required to sign non-disclosure agreements as part of the settlements reached with Harvey Weinstein in connection with allegations of sexual harassment and harassment. Olympic gold medalist McKayla Maroney also said he signed one as part of an agreement following sexual abuse by US gymnastics team doctor Larry Nassar, who was convicted of sexual abuse and child pornography allegations and sentenced to 125 years in prison.

Here’s what employees and voters need to know about these deals:

What are non-disclosure agreements and how do they work?

These types of deals can go by many names, said Donna Ballman, an employment attorney and author of the book “Claim Yourself Without Getting Fired.” “Non-disclosure, silence, confidentiality – no matter what you call it, it’s probably the same thing,” Ballman said.

Agreements generally prevent one or more parties from disclosing the terms of a transaction. In general, they will describe what information a person can and cannot discuss publicly and for what period of time the agreement is valid.

A forced arbitration clause is a clause that establishes that disputes should be resolved by private and confidential arbitration rather than being transmitted to a public court.

In some cases, silence agreements will include non-denigration clauses that prevent someone from saying negative things about other people who signed the agreement, Ballman said.

While the most recent examples have involved cases of sexual harassment or assault, they can be used for a variety of settlements. Ballman said that consumers are most likely to meet them in product liability agreements or as part of severance packages.

Start-ups and inventors can use these agreements to prevent them from disclosing proprietary information, while researchers can employ them among study participants. Public figures can use them for domestic staff, including cleaning ladies and even babysitters.

What should you know before signing a non-disclosure agreement?

For beginners, be wary of an excessive deal, labor lawyer Debra Katz previously told MarketWatch. If a non-disclosure agreement seems less of an effort to protect company confidential information, and more geared to muzzling the employee from talking about improprieties, this should raise a red flag, he said.

Another warning sign, according to Katz: “Agreements that go on forever, so that the employee can leave and for the rest of his life he can never say anything negative about that employer.”

A non-disclosure agreement that prevents an employee from making requests for discrimination or illegal harassment to the Commission for equal employment opportunities or to the SEC would be inapplicable.

Check the provision for damages cleared by the NDA, Katz added. The liquidated damages specify an amount in cash that the employee must pay for violating a non-disclosure agreement, he said, and no reasonable attorney should advise his client to accept a provision that is seriously disproportionate to the settlement amount.

Look for a forced arbitration clause, or a clause that requires disputes to be resolved by private and confidential arbitration rather than being publicly transmitted to a court, Employment Lawyer Paula Brantner, president and director of PB Work Solutions, in previously called MarketWatch. Employees are less likely to win in mandatory arbitration than litigation, according to a survey conducted by Cornell University lawyers in 2014.

Verbal agreements don’t matter, Brantner said, so if the written agreement departs from what you’ve been told, clarify the discrepancy. A non-disclosure agreement that prevents you from making requests for discrimination or illegal harassment to the Equal Employment Opportunity Commission or the Securities and Exchange Commission would be inapplicable, Katz said, so complaining to the authorities is still fair game .

What happens when you break one?

In Daniels’s case, the adult film actress seemed to want to get the deal to tell her story. But experts at the time suggested that Daniels’ approach may not be particularly fruitful for the average consumer.

Daniels, whose real name is Stephanie Clifford, claimed that the NDA was not valid because Trump himself had not signed it; only Michael Cohen, Daniels and Trump’s attorney, had signed it.

His March 2018 suit against Trump and Cohen to invalidate the NDA was expelled from the federal court by a judge in March 2019; the judge said there was nothing left to discuss as the president’s attorneys had already said they would not ask Daniels for penalties for breaking the NDA.)

“This is rarely considered a real defense because most employers will quickly produce a signed copy,” said Ballman. “But if there was a violation on the other side, this could mean that she is no longer obliged to respect.”

First, breaking one of these agreements often has financial implications – and many agreements will have specific “damage settlement” clauses, Ballman said. If someone entered into a non-disclosure agreement as part of an agreement, the interested party could sue for money back and possibly for further damages.

Daniels, his then lawyer Michael Avenatti told CNN, would have been threatened with a $ 1 million fine for each appearance in connection with the alleged affair.

In some states, violation of a confidentiality agreement means that the non-defaulting party no longer has to follow the directives of the agreement. Violation of a non-disclosure agreement may result in dismissal if it is part of an employer contract. In rarer cases, it can result in prison if a court finds that the violation constitutes theft of proprietary information.

Should I avoid signing a silence agreement?

The Weinstein scandal has prompted many to question the use of non-disclosure agreements, particularly in the context of sexual harassment.

Consumers should be aware of their rights before signing these agreements. The National Labor Relations Board believes that non-denigration provisions that prohibit employees from publicly criticizing a company’s executives are an unfair labor practice. Federal civil rights law replaces settlements that try to prevent someone from filing a sexual harassment complaint, which means that you may still be able to file a sexual harassment complaint even if you have signed a non-disclosure agreement.

Ultimately, a consumer should seek legal advice and carefully evaluate what information should remain confidential under this agreement and what effects it could have.

“Contrary to NDAs that allow parties to do business together or protect property rights, harassment-hiding NDAs retain crucial information from the profession and the public,” wrote Annie Hill, assistant professor at the University of Minnesota, regarding to Weinstein’s accusations.

This story was originally published on February 20, 2020 and has been updated.