Even though the modern calendar contains 365 days, it actually takes 365 days and 6 hours for the earth to complete one rotation of the sun. To account for these extra 6 hours, every 4 years contains 366 days, not 365 (to be precise, it’s years divisible by 4 or 400, but not 100). This extra day is known as Leap Day (which happens to be today).
I had an entire post written for today about the wage and hour implications of this quadrennial tradition. I was going to tell you all about how exempt employees don’t really get paid for leap days, because their annual salary is based on a 365-day cycle. Then Dan Schwartz beat me the to punch. I know I’ve scooped Dan before, so I figure turnabout is only fair. Plus, when the Yankees are watching the Phils (hopefully on their televisions) hoisting the World Series trophy in October, I’ll have the one that matters anyway. Right Dan?