BUSINESS

Washington Business Report - June 15, 2014

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WASHINGTON (WJLA) - On this week's episode of The Washington Business Report with Rebecca Cooper:

D.C. 2024 Olympic bid

Making internships work

Father's Day

D.C. Olympic bid is political hot potato

There are few details available about Washington D.C.'s bid to host the 2024 Olympics, even though it is being considered by the U.S. Olympic Committee.

"It's a political hot potato which is why the U.S.O.C. has been very secretive," says John Ourand, Media reporter for Sports Business Journal, noting the organization is not making public which cities are in the running.

Washington is one of six places believed to be on the list of potential cities which could host the games. The others: Boston, Dallas, Los Angeles, San Diego and San Francisco.

Ourand predicts Washington has a slim chance of ever being chosen to host the 2024 games.

During his discussion on Washington Business Report, Ourand also explains what’s at stake on the business side of the Washington Redskins name controversy and whether soccer could become a staple in the American market after World Cup fever dies down.

Making internships work

A local small business expert says if a company thinks of interns as free labor, it might itself in trouble. About four years ago, the Department of Labor issued guidance on unpaid internships, and this guidance includes six criteria – all of which must be met to substantiate an unpaid internship, says Jen Brown, CEO of PeopleTactics.

If an employer derives any immediate benefit from the intern's work or uses interns to displace regular employees, they are obliged by law to pay the interns.

There have been a number of lawsuits brought by interns in recent years and more often than not the courts are finding for the interns.

"It’s very easy for an intern to file a complaint with their State wage and hour office or the Department of Labor or to find an attorney who will take on such a case," Brown says.

"To me, it’s just not worth the risk…all you have to do is pay your interns minimum wage and any applicable overtime pay -- this will ultimately be much less expensive than the time, money, and stress spent in dealing with a lawsuit, back pay, fines and penalties," she told Washington Business Report.

Thanks, Dad

This Father's Day, Washington Business Report asked some of the region's top CEOs what role their fathers had in their upbringing, and the coming of age into the business world.

The head of Feld Entertainment, Knightsbridge Group, Walker & Dunlop and Cvent share their memories of their fathers, and reveal how their success can be traced back to their fathers.

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