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The Seattle CEO who reaped a publicity bonanza when he boosted the salaries of his employees to a minimum of $70,000 a year says he has fallen on hard times.Dan Price, 31, tells the New York Times that things have gotten so bad he’s been forced to rent out his house.Only three months ago Price was generating headlines—and accusations of being a socialist -- when he announced the new salary minimum for all 120 employees at his Gravity Payments credit card processing firm. Price said he was doing it, and slashing his $1 million pay package to pay for it, to address the wealth gap.
The Times article said Price’s decision ended up costing him a few customers and two of his “most valued†employees, who quit after newer employees ended up with bigger salary hikes than older ones.“He gave raises to people who have the least skills and are the least equipped to do the job, and the ones who were taking on the most didn’t get much of a bump,†Gravity financial manager Maisey McMaster, 26, told the paper.
Seattle CEO who set firm's minimum wage to $70G says he has hit hard timeshttp://www.foxnews.com/us/2015/08/01/seattle-ceo-who-set-firm-minimum-wage-to-70g-rents-house-to-make-ends-meet/Get this.How is equality working out?
The Times article said Price’s decision ended up costing him a few customers and two of his “most valued†employees, who quit after newer employees ended up with bigger salary hikes than older ones.
Ted Kennedy is the only person with an actual confirmed kill in the war on women.
Those folks need to worry less about what others make and focus on themselves. I have worked at the same place for 6 years and make 53 cents more than starting salary. I would jump for joy ti have a job that paid 70k/year. And, if a co-worker of mine recieved a raise to get to that level, i would be happy for them.
X_Digger (16,330 posts) 22. Busting my ass, while Jimmy-finger-up-his-nose over there surfs porn all day..And suddenly he's making the same as me? Why bother doing anything other than the minimum. I worked hard to get there, and bro-dude in the next cube who constantly talks about 'reps', 'sets', and his 'lats' instead of working makes as much as me? Yeah, no. If you can't be compensated for your contributions then why do more than the absolute minimum. The CEO could have given everyone a raise with the same amount of money, but been much more fair. Unless you're one of the lazy slobs who phone it in every day.. then that would suck.
Price has had to rent out his own house to help cover his bills.
Most of the company’s profits, $2.2 million last year, were reinvested in the company not to expand or innovate, but to cover the new minimum wage.Price’s brother and Gravity co-founder, Lucas Price, has also filed a lawsuit against the company that it, thanks to the new higher payroll, finds itself having difficulty paying legal fees for.
You got off your ass, now get your wife off her back.
So the man said he would use his 1 million salary to pay for this. I guess he forgot the payroll at a minimum would be 8.4 million for all 120 employees at 70k per year. ****ing DUummis.
Stop questioning my potato math!!!//DUmmie mode
