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In this week's episode, Nasir and Matt discuss some of Obama's planned executive actions for 2014, Ohio pizzerias breaking employment laws, the importance of forum selection causes in contracts, and the crazy story behind one man losing his Twitter handle. They also answer questions about changing business agreements, being an at-will employee, and running multiple businesses under one LLC. Full Podcast Transcript NASIR: Welcome to Legally Sound Smart Business. This is Nasir Pasha. MATT: And this is Matt Staub. NASIR: And this is where we cover business news and give our legal twist and also cover some of your business legal questions that you, the listener, sends in to ask@legallysoundsmartbusiness.com. So, we have a pretty fun story here coming up. What have we got? MATT: I was going to comment on what a great Super Bowl it was yesterday even though we’re taping this before. I mean, what a game! Hopefully it was a good game. NASIR: The weather wasn’t too bad. Yeah, I enjoyed the food, watching the commercials. The commercials, you’ve got to admit, they were hilarious, right? MATT: Yeah, definitely. NASIR: Especially that one with that food commercial with the car. That was good. MATT: All right. Well, that’s enough of that. Let’s get into the first thing here. This is an article that was written. It just details some of the executive actions that Obama is planning on this year, and we’re not going to touch on all of them, but there’s a few that were pretty interesting. The first one – this was pretty big news this week or this past week – was raising the minimum wage for federal contract workers to $10.10. This is going to be pretty big news. I know we covered the California increase that’s going to go into effect in July, right? July 1st? I can’t remember – right in the middle of the year. NASIR: Yeah, and it’s going to be stepping up after that as well. MATT: This is a pretty big jump. I think it was at about a $3.00 increase on what it was before? NASIR: Yeah, and I read about that it may not impact that many people as far as in the federal workforce and I’m not sure about all that, but the point of this, this just shows you where the country is going state by state and where the pressure is to raise minimum wage. I mean, that’s been the story for about the last six months when it comes to small businesses and big businesses as well. And so, states are starting to follow suit already and now we’re getting tremendous pressure on the federal level. I think we talked about how minimum wage is different from each state, but there’s also a federal minimum wage, but a lot of states have higher minimum wages than the federal standard such as California, New York, as well as some cities like San Francisco. MATT: You’re right with what you said and it’s not going to affect as many people as you would think, or someone might think just by hearing this. I know the general public just sees, “Oh, our increasing federal minimum wage, $3.00. I don’t like that.” But it’s not affecting too many people. I just found it pretty interesting. That’s a pretty significant jump. NASIR: What about this retirement savings account that President Obama announced by executive order that he’s going to be starting? MATT: Yeah, that was the next thing I was going to get to. I don’t know what to think about this. He calls it a starter retirement savings account. It’s available through employers. I guess this is for people that are working for companies that don’t already have 401k stuff like that. NASIR: And it seems to work just like a regular IRA except what you’re investing in is in savings bonds, so it’s a pretty conservative play which is fine. It’s a starter account. Also, note that, I guess, when the account hits $15,000 or after thirty years, you’re forced to roll it into a private IRA. So, it’s definitely a so-called starter. MATT: Right. NASIR: It’s interesting. I think this would be attractive to a lot of small business empl...