Deals and People October 21, 2011

SEC Names Leader of Investment Adviser/Company Examinations

October 21, 2011 (PLANSPONSOR.com) - The Securities and Exchange Commission announced that Andrew J. Bowden has been appointed Associate Director to lead the National Investment Adviser/Investment Company Examination Program in the SEC’s Office of Compliance Inspections and Examinations (OCIE).
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Bowden, who starts November 1, will oversee a staff of approximately 450 lawyers, accountants, and examiners responsible for the inspections of U.S.-registered investment advisers and investment companies.  Bowden succeeds Gene Gohlke, who retired from the agency earlier this year after 35 years of public service. Since then, OCIE Deputy Director Norm Champ has served as the Acting Associate Director of the program.  

According to a news release, early in his career, Bowden worked at Legg Mason, Inc., and later for Legg Mason Capital Management in various roles, including General Counsel, Chief Operating Officer, and ultimately Executive Director for Sales, Client Service and Marketing. He also has served on the Board of Governors and Executive Committee of the Investment Advisers Association.   

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He holds a Bachelor of Arts degree in the Honors English Program at Loyola University in Baltimore and a law degree from The University of Pennsylvania.
Benefits October 21, 2011

Union Suing Hertz after Firing of Two Dozen Muslims

October 21, 2011 (PLANSPONSOR.com) - More than two dozen Somali Muslim drivers for Hertz at Seattle-Tacoma International Airport are being fired after refusing to clock out for daily breaks during which they normally pray.
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The Associated Press reports that Hertz said the suspended workers were violating provisions of a collective bargaining agreement and a settlement with the Equal Employment Opportunity Commission (EEOC) reached two years ago. However, Teamsters Local 117, which represents the workers, said the break clock-out requirement is not in the contract and Hertz had agreed during negotiations last year that it would not require it.  

According to the AP, the union has filed an unfair labor practices complaint with the National Labor Relations Board, and said it is also filing religious discrimination charges with the EEOC.  

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The 26 workers drive the company’s rental cars to and from the airport for cleaning and refueling. They are among 34 Hertz employees suspended September 30 for failing to clock out before breaks. Eight of the 34 signed a clock-out agreement and have returned to their jobs, company spokesman Rich Broome told The Associated Press in an e-mail. Termination letters have been sent to the rest. 

The company made it clear the suspended workers needed to agree to the clock-out conditions by the end of the day Thursday if they wanted to be reinstated, Broome said.  

Earlier this month Broome told the AP, “It’s not about prayer, it’s not about religion; it’s about reasonable requirements.” The news report noted that observant Muslims pray several times a day.

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