CEO Cuts His Pay, Raises All Workers' Pay To $70,000 Per Year Minimum

[blacken700]

More like Dan Price, please. This is truly putting your money where your mouth is. Gravity Payments is a credit card processing firm located in Seattle, and Dan Price is the CEO. Mr. Price has decided to do more than think or talk about income inequality. He's taking action.

The first thing he did was cut his own pay to $70,000 per year.

The next thing he did was give every employee, whether in the mail room or human resources, a raise so that their minimum wage will be $70,000 per year.

New York Times:

“The market rate for me as a C.E.O. compared to a regular person is ridiculous, it’s absurd,” said Mr. Price, who said his main extravagances were snowboarding and picking up the bar bill. He drives a 12-year-old Audi, which he received in a barter for service from the local dealer.

More: http://api.viglink.com/api/click?format=go&jsonp=vglnk_14290384951518&key=b716156ab5ecd7182fdbf9e72d749dcb&libId=i8hoo9170100deno000DAvxnxi42&loc=http%3A%2F%2Fwww.democraticunderground.com%2F10026503545&v=1&out=http%3A%2F%2Fcrooksandliars.com%2F2015%2F04%2Fceo-cuts-his-pay-raises-all-workers-pay&ref=http%3A%2F%2Fwww.democraticunderground.com%2Findex.php&title=CEO%20Cuts%20His%20Pay%2C%20Raises%20All%20Workers'%20Pay%20To%20%2470%2C000%20Per%20Year%20Minimum%20-%20Democratic%20Underground&txt=Crooks%20and%20Liars

[Coach is Back!]

More like Dan Price, please. This is truly putting your money where your mouth is. Gravity Payments is a credit card processing firm located in Seattle, and Dan Price is the CEO. Mr. Price has decided to do more than think or talk about income inequality. He's taking action.

The first thing he did was cut his own pay to $70,000 per year.

The next thing he did was give every employee, whether in the mail room or human resources, a raise so that their minimum wage will be $70,000 per year.

New York Times:

“The market rate for me as a C.E.O. compared to a regular person is ridiculous, it’s absurd,” said Mr. Price, who said his main extravagances were snowboarding and picking up the bar bill. He drives a 12-year-old Audi, which he received in a barter for service from the local dealer.

More: http://api.viglink.com/api/click?format=go&jsonp=vglnk_14290384951518&key=b716156ab5ecd7182fdbf9e72d749dcb&libId=i8hoo9170100deno000DAvxnxi42&loc=http%3A%2F%2Fwww.democraticunderground.com%2F10026503545&v=1&out=http%3A%2F%2Fcrooksandliars.com%2F2015%2F04%2Fceo-cuts-his-pay-raises-all-workers-pay&ref=http%3A%2F%2Fwww.democraticunderground.com%2Findex.php&title=CEO%20Cuts%20His%20Pay%2C%20Raises%20All%20Workers'%20Pay%20To%20%2470%2C000%20Per%20Year%20Minimum%20-%20Democratic%20Underground&txt=Crooks%20and%20Liars

Nobel gesture. But what does this have to do with anything?

http://www.inc.com/profile/gravity-payments

[headhuntersix]

Not everybody drives a 12 year old Audi or snowboards as an outlet. If he wants to do that then thats great. I would not be happy as a Harvard Grad, Wharton grad etc etc...making the same as the cokehead mail room clerk. Sometimes people just aren't the same. Now if I had no skills....this would be a great place to work.

[Coach is Back!]

The problem is there is no comparison. He's attempting to compare his company (He's not just the CEO but he's the founder) that has a total revenue of $13mil (107 employees) to Multi-Billion dollar companies like Walmart (Over 2mil employees) and McDonalds (almost 2mil employees). McDonalds is a franchise and the revenue is different for each individual store with much more over head and lower profit margins that a business model like Gravity which probably has a higher profit margin.

[whork]

More like Dan Price, please. This is truly putting your money where your mouth is. Gravity Payments is a credit card processing firm located in Seattle, and Dan Price is the CEO. Mr. Price has decided to do more than think or talk about income inequality. He's taking action.

The first thing he did was cut his own pay to $70,000 per year.

The next thing he did was give every employee, whether in the mail room or human resources, a raise so that their minimum wage will be $70,000 per year.

New York Times:

“The market rate for me as a C.E.O. compared to a regular person is ridiculous, it’s absurd,” said Mr. Price, who said his main extravagances were snowboarding and picking up the bar bill. He drives a 12-year-old Audi, which he received in a barter for service from the local dealer.

More: http://api.viglink.com/api/click?format=go&jsonp=vglnk_14290384951518&key=b716156ab5ecd7182fdbf9e72d749dcb&libId=i8hoo9170100deno000DAvxnxi42&loc=http%3A%2F%2Fwww.democraticunderground.com%2F10026503545&v=1&out=http%3A%2F%2Fcrooksandliars.com%2F2015%2F04%2Fceo-cuts-his-pay-raises-all-workers-pay&ref=http%3A%2F%2Fwww.democraticunderground.com%2Findex.php&title=CEO%20Cuts%20His%20Pay%2C%20Raises%20All%20Workers'%20Pay%20To%20%2470%2C000%20Per%20Year%20Minimum%20-%20Democratic%20Underground&txt=Crooks%20and%20Liars

Good man.

[blacken700]

Good man.

you have to lol the repubs on here try to find fault with the guy

[Coach is Back!]

you have to lol the repubs on here try to find fault with the guy

Who's faulting him? He did it to prove a point. I'm sure the cleaning crew isn't making 70k tho

[blacken700]

Who's faulting him? He did it to prove a point. I'm sure the cleaning crew isn't making 70k tho

thanks for proving my point lol

[Las Vegas]

Not everybody drives a 12 year old Audi or snowboards as an outlet. If he wants to do that then thats great. I would not be happy as a Harvard Grad, Wharton grad etc etc...making the same as the cokehead mail room clerk. Sometimes people just aren't the same. Now if I had no skills....this would be a great place to work.

Any particular reason you think the mail clerk is a "cokehead"?  That's quite an interesting thing to exclaim, otherwise.

Why did you say that?  Serious question.

[whork]

you have to lol the repubs on here try to find fault with the guy

He is an CEO yet he is not an asshole.

I can see Coach melting down right, now his simple programming does not allow him to fully comprehend this.

[Coach is Back!]

He is an CEO yet he is not an asshole.

I can see Coach melting down right, now his simple programming does not allow him to fully comprehend this.

I see you have ZERO concept of business. Of course not. You're a lib.

[240 is Back]

I see you have ZERO concept of business. Of course not. You're a lib.

To be fair, warren buffet is a lib lol

[Coach is Back!]

To be fair, warren buffet is a lib lol

To be fair Buffett also supports some Republicans as well. EL O EL. Now feel free to argue my point.

[whork]

I see you have ZERO concept of business. Of course not. You're a lib.

Please explain it to me in your own words. Im waiting.

[Coach is Back!]

Please explain it to me in your own words. Im waiting.

I already did.

[240 is Back]

To be fair Buffett also supports some Republicans as well. EL O EL. Now feel free to argue my point.

what point?  that libs have Zero concept of business?   lol

[Coach is Back!]

what point?  that libs have Zero concept of business?   lol

Sure seems that way. If buffett was as liberal as you think he was then why was he complaining about the taxes he has to pay and if memory serves, even went as far as to go to court for it. He's a business man first.

[240 is Back]

Sure seems that way. If buffett was as liberal as you think he was then why was he complaining about the taxes he has to pay and if memory serves, even went as far as to go to court for it. He's a business man first.

okay.  Soros.  Liberal as they come. 

[TheGrinch]

would love to believe this was done with geniune feeling behind it..


however I feel its just a publicity stunt and then 2 or 3 years from now they revert back to how they used to pay everyone and blame the economy or something..LOL

[Coach is Back!]

okay.  Soros.  Liberal as they come. 

True. But he didn't gain his wealth by not being capitalist. We can take this as far as you like with rich libs.

[whork]

I already did.

"You're a lib" is not an explanation.

[240 is Back]

True. But he didn't gain his wealth by not being capitalist. We can take this as far as you like with rich libs.

Plenty of people are social liberals + fiscally conservative. 

They don't care who sleeps with who, they don't care what drugs people use, they don't want the govt involved in everything... BUT they also want the govt to keep their hands off their $.   Reasonable?

[Necrosis]

True. But he didn't gain his wealth by not being capitalist. We can take this as far as you like with rich libs.

You are hilarious, why then has the economy faired better with liberal leadership, this is a fact.

I don't think you understand business. Customer service is king, happy employees equals higher work output, better product, service etc. When people dont' give a fuck you run into problems. Henry Ford also payed a living wage, his idea was these are the people who will buy my cars, he was smart. Elon Musk is smart, again he isn't a business man per se, he has risked everything for the betterment of humanity and people support and love him for it.


Business isn't just about the numbers, in fact that is not the most important thing long term as it is predicated on the previously mentioned variables.

[Coach is Back!]

You are hilarious, why then has the economy faired better with liberal leadership, this is a fact.

LMAO. Stimulus, borrowing and printing money is not what a good economy make. It's a temporary fix at best that eventually falls apart. THIS IS FACT!!

I don't think you understand business. Customer service is king, happy employees equals higher work output, better product, service etc. When people dont' give a fuck you run into problems. Henry Ford also payed a living wage, his idea was these are the people who will buy my cars, he was smart. Elon Musk is smart, again he isn't a business man per se, he has risked everything for the betterment of humanity and people support and love him for it.

I understand business just fine. I'm not talking about customer service. I'm referring to the numbers only. I provide a service so I know customer service just as much as anyone else. I am in business, I study business, almost all aspects of it.

Business isn't just about the numbers, in fact that is not the most important thing long term as it is predicated on the previously
mentioned variables.

What are you talking about? In the end it's all about the numbers, the bottom line. It's hard to survive in business without a strong bottom line. 

I love talking about business as much as I do about training. Lets keep talking business.

[King Shizzo]

The CEO making the same salary as his employees, makes no sense. Whats the point of running/owning a company then?