Padwan, this is your chance!!!

NLXSK1

Well-Known Member
I found the socialist for you!!! But you better move on this deal real quick because I am not sure how long the guy will be in business.

Seattle CEO who set firm's minimum wage to $70G says he has hit hard times

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.

“I’m working as hard as I ever worked to make it work,” he told the Times in a video that shows him sitting on a plastic bucket in the garage of his house. “I’m renting out my house right now to try and make ends meet myself.”

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.

She said when she talked to Price about it, he treated her as if she was being selfish and only thinking about herself.

“That really hurt me,” she said. “I was talking about not only me, but about everyone in my position.”

Approaching burnout, she quit.

Grant Moran, 29, also quit, saying the new pay-scale was disconcerting

“Now the people who were just clocking in and out were making the same as me,” he told the paper. “It shackles high performers to less motivated team members.”

Price said McMaster and Moran, or even critic Rush Limbaugh, the talk show host, were not wrong.

“There’s no perfect way to do this and no way to handle complex workplace issues that doesn’t have any downsides or trade-offs,” he said.

The Times said customers who left were dismayed at what Price did, viewing it as a political statement. Others left fearful Gravity would soon hike fees to pay for salary increases.

Brian Canlis, co-owner of a family restaurant, already worried about how to deal with Seattle’s new minimum wage, told Price the pay raise at Gravity “makes it harder for the rest of us.”

“It pains me to hear Brian Canlis say that,” Price said. “The last think I would ever want to do is make a client feel uncomfortable.”

The Times said Price has dozens of new clients inspired by his move but those accounts won’t start generating profits for at least another year.

Making matters worse for Price is a lawsuit his older brother filed two weeks after the pay hike announcement.

Lucas Price, who owns 30 percent of the company, accuses his brother of taking millions of dollars out of the company while denying him the benefits of his minority ownership.

The lawsuit has forced Gravity to pay mounting legal fees at a time when the new salary scale is being eaten up by profits.

“We don’t have a margin of error to pay those legal fees,” Dan Price said.

Click for more from The New York Times

 
this model cannot possibly be maintained on it's own from one single s-corp.

i applaud GRAVITY'S efforts to highlight income disparagement in this country.

as a result, his idea brought on 'dozens' of new clients who will not be generating revenue until after one year, which (in business) is often the case..it's the retention that pays out..often times first year is loss leader.

'Oligarchy ≠ 'We The People'
~Schuylaar
 
this model cannot possibly be maintained on it's own from one single s-corp.

i applaud GRAVITY'S efforts to highlight income disparagement in this country.

as a result, his idea brought on 'dozens' of new clients who will not be generating revenue until after one year, which (in business) is often the case..it's the retention that pays out..often times first year is loss leader.

'Oligarchy ≠ 'We The People'
~Schuylaar

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.




Yeah, all he had to do was give up customers and his most valued employees.

Want to follow this success story for 5 years? I know the ending already ;]
 
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.

Yeah, all he had to do was give up customers and his most valued employees.

Want to follow this success story for 5 years? I know the ending already ;]

excuse me?!..at kushy fortune 500, i went through the same..i'd worked so many years and received salary increases when one day they just up and decided that the starting base was too low and increased it to $5k within what i was receiving after all those years..let's say the increase was $10k..why didn't i get this too? i know how they felt..but this was a social experiment by one, sole s-corp..there is more to it than just raising everyone to $70k..none of the expanded programs are in place..it's not a nationwide thing yet therefore did not go quite as planned.
 
it was a ridiculous idea in the first place. As a business owner he should know that things come up ALL the time that the owner has to reach in his pocket (or the companies pocket) and pay for to stay in business. Are all these 70k employees going to pitch in to help him out? Of course not.
 
it was a ridiculous idea in the first place. As a business owner he should know that things come up ALL the time that the owner has to reach in his pocket (or the companies pocket) and pay for to stay in business. Are all these 70k employees going to pitch in to help him out? Of course not.

He is renting his house out. Even 10 bucks a month from every employee would put him in a nice place.

That is your answer... His employees dont give a fuck that he is living in a garage.
 
and guess what? i doubt that would happen anyway. it doesn't happen like that in the canada..does it @heckler73?

No, it does not.
Janitors make less than Heart Surgeons in our cruel, socialist (read: Pinko Commie) system.


I feel sorry for the misguided philanthropist, but he did not think this through, completely. He should have left some incentive cheese on the stick instead of going full-out collectivist. Even COOPs have a performance standard implied. However, it is rather odd how one is punished for trying to be equitable, in contrast to genuine crooks and bums who are lauded in CEO positions.

I suppose it's just another example of the twisted morals of Capitalism.
 
One of two things will happen.

1. He'll lose his business and the new owner will reset wages to what they were when the company was profitable and the current owner wasn't overwhelmed with liberal insanity.

2. The business will close and everyone will lose their jobs.

Welcome to Reality v.s. Progressive ideology.
 
One of two things will happen.

1. He'll lose his business and the new owner will reset wages to what they were when the company was profitable and the current owner wasn't overwhelmed with liberal insanity.

2. The business will close and everyone will lose their jobs.

Welcome to Reality v.s. Progressive ideology.

Answer 2 is the preferred choice because it will achieve income equality.
 

Evergreen Solar
SpectraWatt
Solyndra
Beacon Power
AES’ subsidiary Eastern Energy
Nevada Geothermal
SunPower
First Solar
Babcock & Brown
Ener1
Amonix
The National Renewable Energy Lab
Fisker Automotive
Abound Solar
Solar Trust of America
A123 Systems
Willard & Kelsey Solar Group
Johnson Controls
Schneider Electric
Air America
Current TV

This is fun, next we should list exaclty how much these failures cost taxpayers.
 
Evergreen Solar
SpectraWatt
Solyndra
Beacon Power
AES’ subsidiary Eastern Energy
Nevada Geothermal
SunPower
First Solar
Babcock & Brown
Ener1
Amonix
The National Renewable Energy Lab
Fisker Automotive
Abound Solar
Solar Trust of America
A123 Systems
Willard & Kelsey Solar Group
Johnson Controls
Schneider Electric
Air America
Current TV

This is fun, next we should list exaclty how much these failures cost taxpayers.
Go ahead
While your at it list the other 98% that got loans And are successfully still in business
 

Yeah, all he had to do was give up customers and his most valued employees.

Want to follow this success story for 5 years? I know the ending already ;]

you're a 50 year old alcoholic who scrubs pools for $20 a pop.

tell us all about success.
 
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