Annual Yield

Annual Yield Savings Account: 0.10% Government Bond: 2% Money Market Account: 0.5% Your Stock portfolio??????

Sole Proprietorship -one owner -73% of businesses Disadvantages Least Financial Capital Unlimited Liability Advantages All Profits Quick Decisions Pride of Ownership Easy to Organize

Partnership -2+ owners -8% of businesses -Articles of Partnership Disadvantages Unlimited Liability Split Profits Partner’s Mistakes Advantages Combine Talents More Financial Capital

Corporation. -owned by stockholders. -19% of businesses Corporation -owned by stockholders -19% of businesses -Government Charter -Board of Directors Advantages Most Financial Capital Limited Liability Disadvantages Little Power (owners) Double Taxation

Corporate Structure

LLC Limited Liability Company Tax/structure of S. Proprietorship/Partnership Limited Liability of a Corporation

Franchise Corporation sells rights to individual operator

Progress?????? Child Labor Laws Minimum Wage OSHA Overtime Discrimination Laws FMLA Disability and Worker’s Comp

Labor Union an organization of workers formed for the purpose of advancing its members' interests in respect to wages, benefits, and working conditions

Types of Unions Craft (Trade) Industrial

Union Arrangements Closed Shop Employer may only hire union members Union Shop Employees must join union once hired

Taft-Hartley Act (1947) Banned closed shop/union shop arrangements Granted individual states ability to pass “right to work” laws ----------------------------------------------------------- Agency Shop Employees must pay a portion of dues to cover collective bargaining costs Allows “Right-to-Work” laws (state by state)

Collective Bargaining Union Negotiations Collective Bargaining Mediation Arbitration

Negotiation Strong-Arm Tactics Strike Lockout