but bryce harper is looking for a home. the fact that they re taking so long is creating tension. it s all about money. shepard: yes, sir. 100 guys plus that haven t been signed. some big names, too. we always knew the guys like machado and bryce harper, they ll get signed. shepard: sure. these other guys, no. some players think it s major collusion on the part of the owners. shepard: how so? they think the owners have agreed to say listen, we re not going to sign these guys. we have some sort of a salary threshold. we re not going to pay them more than a certain amount. they did this in the 80s. the owners had to pay a settlement. shepard: the players union won that. yes. shepard: which was a lot of money then. now it s less than machado just signed for. and the talk is 350 for
stock markets in europe are up slightly in early trading. they just opened an hour or so. shanghai mixed overnight. millions of workers about to get a raise thanks to new overtime rules pass by the white house. not anytime. a federal judge in texas suspended that rule from going into effect. it s a major blow to a really important goal of the obama administration to raise wages for working americans. ruling findings it s overreached its authorities by raising the overtime limits. here s what would have happened on december 1st. the salary threshold was set to increase from $450 per week to $914. to nearly 47,500. the labor department said it would protect overtime for 2.4 million workers. get ready for the highways
investors around the world take a beat. millions of workers are about to get a raise thanks to new overtime rules passed by the white house. not anymore. or at least the hold button has been pressed on that. a federal judge in texas suspended that rule from going into effect. this is a blow to the president. the ruling findings the obama administration overreached its legal authority by hiking the limits so significantly. here s what would have happened on december 1st. the salary threshold to be eligible for overtime is going from 445 a week to 913 a week. about 23,000 a year to $47,500. this injunction is temporary until a judge comes to a final decision. essentially people working in relatively retail jobs, they can get clerical duties and become a manager they re exempt from overtime. the president want to change that.
overtime. that eroded so less than 8% of salary gets overtime pay. the announcement today is an update of the salary threshold that s going to benefit 5 million workers and make sure they get, as you say, a fair day s pay for an honest day s work. if you don t want to own the good news defend the bad news. you are doing what the private sector says you should not. don t mess with wages. let business decide what the right pay scale is otherwise, you are going to force jobs out of the market and force them to squeeze labor and lose jobs not help people who have jobs. the national retail federation says the policy isn t going to have a downward effect on jobs. it is going to raise wages for workers, for 5 million workers and if you are working 40 hours a week if you are asked to work longer than that you get paid for that extra work or paid your salary but expect a 40 hour week to see your kids.
paycheck. however, because the salary threshold below which even salary workers don t get overtime isn t adjusted for inflation. so once this rule is in place more people that should be getting overtime pay will be getting overtime pay. i m sure he s modest and wants to give all the credit to the president but he did co-author a very influential payment. kudos to you jared. speaking of that big huge vote on sunday. the greek people will go and vote which way they want to go with their future. some characterized the decision between going into a death spiral or choosing the worst of the worst possible outcomes. it s a tricky situation. i want each of you to tell the greek people which way you think they should vote. on cnbc this morning i said