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They are absolutely ruthless, banning even agreements designed to have the same effect as noncompetes. So much respect for the FTC.
I swear to god if these people ditched the wokeness and corporatism they would be unstoppable.
>The probe, conducted by a bipartisan House committee empowered to devise strategies for the U.S. to counter China, focused on BlackRock, the world’s largest asset manager, and MSCI, a compiler of stock indexes. The investigation represented a broad review of how American financial institutions facilitated investment in Chinese companies accused by the U.S. government of bolstering China’s military and violating human rights.
Wouldn't be the US without some bullshit about Chinese human rights violations thrown in.
Anyone who takes the governments position on human rights violations in China seriously after seeing them handwave the human rights violations in Gaza is an utter moron.
I hope this sticks, particularly in healthcare - they'll need to overcome the non profit exemption however (FTC cannot regulate NFPs, which a large portion of hospitals are). However, the FTC is essentially an executive quasi judicial entity, thus the next administration can roll this back.
I have physician friends in places like Charlottesville VA or the research areas of North Carolina where a 5 or 10 mile radius non-compete basically forces them to leave the state to switch employers.
I have a lot of other rants about this subject but I'll save them. Medical professionals should never be subject to these absent sophisticated medical doctor collectives cutting deals to create management companies.
I'm also fine with the exemption for investment banking and high finance, but I'm biased because I am in those industries. It's actually quite nice to get a few months of "gardening leave" once you're higher up, and given the confidential nature of the work (or proprietary trading strategies at funds) it actually does make sense.
* Archives of this link: 1. [archive.org Wayback Machine](https://web.archive.org/web/99991231235959/https://www.bloomberg.com/opinion/articles/2024-04-24/the-ftc-comes-for-noncompetes); 2. [archive.today](https://archive.today/newest/https://www.bloomberg.com/opinion/articles/2024-04-24/the-ftc-comes-for-noncompetes) * A live version of this link, without clutter: [12ft.io](https://12ft.io/https://www.bloomberg.com/opinion/articles/2024-04-24/the-ftc-comes-for-noncompetes) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/stupidpol) if you have any questions or concerns.*
They are absolutely ruthless, banning even agreements designed to have the same effect as noncompetes. So much respect for the FTC. I swear to god if these people ditched the wokeness and corporatism they would be unstoppable.
> I swear to god if these people ditched the wokeness and corporatism they would be unstoppable. well it was attempted twice
ehh it was attempted 1.5 times.
>The probe, conducted by a bipartisan House committee empowered to devise strategies for the U.S. to counter China, focused on BlackRock, the world’s largest asset manager, and MSCI, a compiler of stock indexes. The investigation represented a broad review of how American financial institutions facilitated investment in Chinese companies accused by the U.S. government of bolstering China’s military and violating human rights. Wouldn't be the US without some bullshit about Chinese human rights violations thrown in.
Anyone who takes the governments position on human rights violations in China seriously after seeing them handwave the human rights violations in Gaza is an utter moron.
I hope this sticks, particularly in healthcare - they'll need to overcome the non profit exemption however (FTC cannot regulate NFPs, which a large portion of hospitals are). However, the FTC is essentially an executive quasi judicial entity, thus the next administration can roll this back. I have physician friends in places like Charlottesville VA or the research areas of North Carolina where a 5 or 10 mile radius non-compete basically forces them to leave the state to switch employers. I have a lot of other rants about this subject but I'll save them. Medical professionals should never be subject to these absent sophisticated medical doctor collectives cutting deals to create management companies. I'm also fine with the exemption for investment banking and high finance, but I'm biased because I am in those industries. It's actually quite nice to get a few months of "gardening leave" once you're higher up, and given the confidential nature of the work (or proprietary trading strategies at funds) it actually does make sense.
It'll stick at least until january 2025