Allstocks.com's Bulletin Board Post New Topic  Post A Reply
my profile login | register | search | faq | forum home

  next oldest topic   next newest topic
» Allstocks.com's Bulletin Board » Off-Topic Post, Non Stock Talk » CEO Hikes Minimum Wage To $70K, Capitalist Tragicomedy Ensues

 - UBBFriend: Email this page to someone!    
Author Topic: CEO Hikes Minimum Wage To $70K, Capitalist Tragicomedy Ensues
Relentless.
Member


Icon 1 posted      Profile for Relentless.     Send New Private Message       Edit/Delete Post   Reply With Quote 
Remember the idiot who raised the minimum wage at his company to $70K???

Well it turns out the consequences were not exactly what he expected.

This is a good lesson for all the idiot bleeding heart liberals that will go very much unnoticed by them and the main stream media.


"Dan is the CEO of Seattle-based credit card payments processing firm Gravity Payments, and three months ago, he did a funny thing.

After talking with a friend who confessed to having difficulties making student loan payments and rent each month on an annual salary of $40,000, Dan decided to set a $70,000 per year pay floor at Gravity.

Dan was not, The New York Times says, looking to insert himself into "the current political clamor over low wages or the growing gap between rich and poor." All he wanted to do was improve the lives of the 120 or so people who worked for him and after reviewing some literature on the subject, he decided that $70,000 was the level at which workers start to experience "an enormous difference in [their] emotional well-being.""


http://www.zerohedge.com/news/2015-08-02/ceo-hikes-minimum-wage-70k-capitalist-t ragicomedy-ensues

Well now the company is losing or has lost some of the most valuable employees... Has lost much of it's business relationships.. and in all liklehood will be gone very shortly...

[Were Down] [Were Down] [Were Down] [Were Down]

Posts: 2965 | Registered: Aug 2005  |  IP: Logged | Report this post to a Moderator
Relentless.
Member


Icon 1 posted      Profile for Relentless.     Send New Private Message       Edit/Delete Post   Reply With Quote 
From the link above:

"
Two of Mr. Price’s most valued employees quit, spurred in part by their view that it was unfair to double the pay of some new hires while the longest-serving staff members got small or no raises. Some friends and associates in Seattle’s close-knit entrepreneurial network were also piqued that Mr. Price’s action made them look stingy in front of their own employees.

Maisey McMaster was also one of the believers. Now 26, she joined the company five years ago and worked her way up to financial manager, putting in long hours that left little time for her husband and extended family. "There’s a special culture," where people "work hard and play hard," she said. "I love everyone there."

She helped calculate whether the firm could afford to gradually raise everyone’s salary to $70,000 over a three-year period, and was initially swept up in the excitement. But the more she thought about it, the more the details gnawed at her.

"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," she said. To her, a fairer proposal would have been to give smaller increases with the opportunity to earn a future raise with more experience.
"

Posts: 2965 | Registered: Aug 2005  |  IP: Logged | Report this post to a Moderator
CashCowMoo
Member


Rate Member
Icon 1 posted      Profile for CashCowMoo     Send New Private Message       Edit/Delete Post   Reply With Quote 
rays utopia just came crashing down

--------------------
It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.

Posts: 6949 | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
i find it interesting that people can afford to quit a job in todays job climate. I'd say there's only few places in the country where people can even do that.
The only thing that makes any sense is if they were able to get a job that pays better elsewhere. If they quit and got a better job, then this really has nothing to do with that.
if they quit and didn't get a better job, then they are going to have troubles for the rest of their careers with that on their resume.
70 grand in Seattle ain't that much money. Seattle is not the most expensive place to live, but it is pretty high.

--------------------
Don't envy the happiness of those who live in a fool's paradise.

Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
raybond
Member


Rate Member
Icon 1 posted      Profile for raybond     Send New Private Message       Edit/Delete Post   Reply With Quote 
I have made my point over and over on this board for an increase in the minimum wage and I still will. I saw this article about 2 days ago and I dismissed it as a hoax. Nobody in the progressive movement has ever suggested such a ridiculous thing as you post. And remember this was a businessman that that did this financial improvement and caused his own demise. Some businessman.

Again pay your $7.00 an hour and have the tax payer pay all the medical,food and housing subsidies it takes for these people to live. The minimum wage will go up weather you like it or not you meaning yellow conservatives afraid to go into the business world without the support of the country and sucking up our tax revenue and paying your employee's wages for you.

--------------------
Wise men learn more from fools than fools from the wise.

Posts: 3827 | From: beautiful California | Registered: Sep 2008  |  IP: Logged | Report this post to a Moderator
Relentless.
Member


Icon 1 posted      Profile for Relentless.     Send New Private Message       Edit/Delete Post   Reply With Quote 
lol.. Only Ray would assume the above story was a hoax.

Crap it's so logical it can't be real!

Posts: 2965 | Registered: Aug 2005  |  IP: Logged | Report this post to a Moderator
   

Quick Reply
Message:

HTML is enabled.
UBB Code™ is enabled.

Instant Graemlins
   


Post New Topic  Post A Reply Close Topic   Feature Topic   Move Topic   Delete Topic next oldest topic   next newest topic
 - Printer-friendly view of this topic
Hop To:


Contact Us | Allstocks.com Message Board Home

© 1997 - 2021 Allstocks.com. All rights reserved.

Powered by Infopop Corporation
UBB.classic™ 6.7.2

Share