Follow us on...
Follow us on Twitter Follow us on Facebook Watch us on YouTube
Register
Page 1 of 3 123 LastLast
Results 1 to 15 of 32
  1. #1
    Atomic Punk
    Join Date
    01.29.02
    Age
    49
    Location
    somewhere over the rainbow
    Posts
    22,946
    Last Online

    12.11.17 @ 04:37 PM
    Likes
    842
    Liked 1,229 Times in 448 Posts

    Default CEO Raises Salaries to $70K for EVERY Employee.......

    CEO Raises Salaries to $70K for EVERY Employee, Now has to Rent Out his Own Home to Make Ends Meet


    There are times when Dan Price feels as if he stumbled into the middle of the street with a flag and found himself at the head of a parade.

    Three months ago, Mr. Price, 31, announced he was setting a new minimum salary of $70,000 at his Seattle credit card processing firm, Gravity Payments, and slashing his own million-dollar pay package to do it. He wasn’t thinking about the current political clamor over low wages or the growing gap between rich and poor, he said. He was just thinking of the 120 people who worked for him and, let’s be honest, a bit of free publicity. The idea struck him when a friend shared her worries about paying both her rent and student loans on a $40,000 salary. He realized a lot of his own employees earned that or less.



    http://www.youngcons.com/ceo-raises-...ake-ends-meet/


    http://www.nytimes.com/2015/08/02/bu...at-roared.html
    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  2. The Following Member Likes This Post:


  3. #2
    Forum Frontman It's Mike's Avatar
    Join Date
    03.26.06
    Age
    43
    Location
    Vaughan, Ontario, Canada
    Posts
    34,157
    Favorite VH Album

    like them all, no favourite
    Last Online

    12.16.17 @ 08:01 PM
    Likes
    1,321
    Liked 6,708 Times in 3,727 Posts

    Default

    The gap between executive compensation and worker compensation is an ever growing problem. His heart was in the right place

    Sent from my Z10 using Tapatalk

  4. The Following 2 Members Like This Post:


  5. #3
    Atomic Punk bklynboy68's Avatar
    Join Date
    01.10.12
    Posts
    18,850
    Favorite VH Album

    The Magnificent 7
    Last Online

    12.16.17 @ 10:09 PM
    Likes
    12,938
    Liked 11,785 Times in 6,531 Posts


    Premium Member

    Default

    Quote Originally Posted by voivod View Post
    CEO Raises Salaries to $70K for EVERY Employee, Now has to Rent Out his Own Home to Make Ends Meet


    There are times when Dan Price feels as if he stumbled into the middle of the street with a flag and found himself at the head of a parade.

    Three months ago, Mr. Price, 31, announced he was setting a new minimum salary of $70,000 at his Seattle credit card processing firm, Gravity Payments, and slashing his own million-dollar pay package to do it. He wasn’t thinking about the current political clamor over low wages or the growing gap between rich and poor, he said. He was just thinking of the 120 people who worked for him and, let’s be honest, a bit of free publicity. The idea struck him when a friend shared her worries about paying both her rent and student loans on a $40,000 salary. He realized a lot of his own employees earned that or less.



    http://www.youngcons.com/ceo-raises-...ake-ends-meet/


    http://www.nytimes.com/2015/08/02/bu...at-roared.html
     "He has a swaggering retro machismo that will give hives to the Steinem cabal" -Camille Paglia on Donald Trump

    "Make way for the bad guy"- Tony Montana

    'This hamburger don't need no helper"- David Lee Roth

    "I wish Bon Jovi would've given me a call before he recorded all of his hits, because the lyrics would've been smarter, the melodies would've been much more smashing, and they would've sold a lot fewer records." -David Lee Roth

    "My beef is people thinking Bon Jovi is good cuz they sold lots of records to housewives." -tango

    "But being number one doesn’t really mean jack fuck all. We sold twice as many records as other records that year (1984) that landed in the Number One position." ~Eddie Van Halen

  6. #4
    Atomic Punk CaboChris's Avatar
    Join Date
    09.23.11
    Age
    45
    Location
    Reno, NV
    Posts
    15,740
    Favorite VH Album

    Fair Warning/5150
    Favorite VH Song

    Unchained/Best of Both Worlds
    Last Online

    12.16.17 @ 06:08 PM
    Likes
    4,335
    Liked 7,889 Times in 4,614 Posts


    Premium Member

    Default

    Quote Originally Posted by It's Mike View Post
    The gap between executive compensation and worker compensation is an ever growing problem. His heart was in the right place

    Sent from my Z10 using Tapatalk
    I commend him but I have to question his business acumen. Not sound at all.

    The gap is all too real although conservatives would have us think everything's peachy keen on that end.

    "The market...the market..."!!!

    Fortunately the wage genie is out of the bottle and I'm confident we're gonna hear the success stories after the "labor pains" are over.

    Higher wagers are here to stay.

  7. #5
    Gird your loins Daisy Hill's Avatar
    Join Date
    04.17.08
    Age
    57
    Location
    Goose Poop, Ohio
    Posts
    13,069
    Favorite VH Album

    Fair Warning
    Favorite VH Song

    Panama
    Last Online

    12.16.17 @ 07:41 PM
    Likes
    1,814
    Liked 2,238 Times in 1,356 Posts

    Default

    well he' renting out his house because he went from a million dollar salary and the lifestyle that entails to a $70,000 salary. That's gonna take some adjusting.

    He seems like a new ager type and while he had a group working on this policy ( and ironically it looks as tho one of the architects of the policy is one of the first to leave the company) something like a minimum salary with some kind of production bonus would have been more realistic. That gives his employees the base salary upon which to live in an expensive economy, but still maintaining an incentive to be more productive

  8. #6
    Atomic Punk edwardv's Avatar
    Join Date
    12.13.01
    Age
    59
    Location
    hanover pennsylvania
    Posts
    10,040
    Favorite VH Album

    diver down
    Favorite VH Song

    drop dead legs
    Last Online

    12.16.17 @ 11:32 PM
    Likes
    4,487
    Liked 2,388 Times in 1,490 Posts


    Premium Member

    Default

    He's an amazing man but in reality he has over stepped a bit. Fact is we are a stagnant wage nation since 2007 and even though the CPI and PPI say otherwise we are in an era of stagflation imo. Can we make the food container boxes any smaller with a higher price per pound and or ounce?
    Last edited by edwardv; 08.02.15 at 11:31 AM.
    EVH 1979: Well, actually it's not much of a vacation, because we run everything ourselves. We design our own album cover, we have to be in the office every day to sign checks - the whole corporation revolves around us. Nothing can be done without our approval. We even have photo approval.

  9. #7
    Banned!
    Join Date
    06.01.15
    Posts
    950
    Last Online

    01.21.16 @ 09:53 AM
    Likes
    722
    Liked 623 Times in 347 Posts

    Default

    Finally! Someone with a conscience. Bravo.

  10. #8
    Hang 'Em High sickman's Avatar
    Join Date
    03.13.04
    Posts
    6,170
    Favorite VH Album

    Complete Zero
    Favorite VH Song

    Lets Get Rockin
    Last Online

    12.16.17 @ 02:06 PM
    Likes
    548
    Liked 1,863 Times in 732 Posts


    Donor

    Default

    Nice gesture but a dumb move. It will probably cost him his business.

    “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.

    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.”

    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.”
    I used to jog but the ice cubes kept falling out of my glass.

  11. The Following 2 Members Like This Post:


  12. #9
    Baluchitherium
    Join Date
    06.02.09
    Location
    Southern California
    Posts
    4,751
    Favorite VH Album

    Fair Warning
    Favorite VH Song

    Respect my Wind
    Last Online

    12.16.17 @ 09:35 PM
    Likes
    143
    Liked 1,140 Times in 650 Posts

    Default

    This guy is a true dumbfuck if there ever was one. Shit, I would quit my job today if everyone here was making $70k, it's not right that people who have worked their asses off and have honed their craft make the same as people who filled out an application and have a mundane task. Fuck you... this should never be ok in America, go live in a commune, you fucking dumb hippie.
    "Alcoholism, is like, the only disease you can get yelled at for having" - Mitch
    Hedberg

  13. #10
    Hang 'Em High sickman's Avatar
    Join Date
    03.13.04
    Posts
    6,170
    Favorite VH Album

    Complete Zero
    Favorite VH Song

    Lets Get Rockin
    Last Online

    12.16.17 @ 02:06 PM
    Likes
    548
    Liked 1,863 Times in 732 Posts


    Donor

    Default

    Well just wait until these $70k people have the bills of $70k people and the place goes out of business, or he realizes he needs to cut salaries.
    I used to jog but the ice cubes kept falling out of my glass.

  14. #11
    Atomic Punk bsbll4's Avatar
    Join Date
    02.18.03
    Age
    34
    Location
    St. Louis, MO
    Posts
    8,660
    Favorite VH Album

    Van Halen/ADKOT
    Favorite VH Song

    Hot For Teacher
    Last Online

    12.15.17 @ 12:23 PM
    Likes
    575
    Liked 2,238 Times in 1,130 Posts


    Premium Member

    Default

    Quote Originally Posted by sickman View Post

    “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.”
    This is why this was a stupid idea. Unless you are giving everyone a pay raise equal in rate to what got the lowest employees to 70k, then those that were just above that level now feel ripped off for the work they've put in to get there.

    It's like fast food workers with a fucking GED demanding $15/hr when EMTs are making barely more than that and school teachers can make less than that.

    If you want $15/hr or $70k/yr you have to work for it, not protest for it.
    CNN may think my opinion matters, but you shouldn't.

  15. #12
    Atomic Punk lovemachine97(Version 2)'s Avatar
    Join Date
    06.05.03
    Location
    Southern California
    Posts
    13,994
    Last Online

    12.16.17 @ 11:38 PM
    Likes
    817
    Liked 3,117 Times in 1,828 Posts


    Premium Member

    Default

    He should be free to try this. What shouldn't happen is that he shouldn't be forced to increase those minimum salaries against his will and decrease his own salary against his will.

    If it works for him, others will follow his lead. Still others will try a different business model to compete against him that they think will work better.

    If he succeeds, that's good for the economy. If he fails, that's also good for the economy, as business failure is a vital part of a thriving economy. I happen to believe that this will end up being more and more of a problem for him, but we shall see.

    However, what shouldn't be a surprise is that two of his best employees left the business. When you have employees on one end with way more experience, more on the line, and responsible for a lot more than employees on the other end, yet it's those employees who get a huge raise close to what the former employees are making, then what exactly is the compensating difference for their experience, productivity, and responsibility? Not much, it turns out. So they likely took a job at a company where value and productivity are matched monetarily.

    It's also not surprising that the CEO has run into problems after putting his salary at what his least skilled, least productive, least experienced workers make.

    I think if Dan Gilbert, CEO of the Cleveland Cavaliers, decided to pay himself and every employee what he pays Lebron James, people would realize how silly this is. I know it's not the best example, considering revenue sharing and the CBA and salary caps and max salaries, but if you ignore that, it doesn't make any sense to pay the owner, coach, bench warmers and ball boys the same you pay the best player in the league.

  16. The Following 2 Members Like This Post:


  17. #13
    Atomic Punk Little Dreamer's Avatar
    Join Date
    12.25.99
    Age
    45
    Location
    Pasadena, CA, USA
    Posts
    8,944
    Favorite VH Album

    Fair Warning
    Favorite VH Song

    Hear About It Later
    Last Online

    12.15.17 @ 11:35 PM
    Likes
    1,014
    Liked 1,390 Times in 763 Posts

    Default

    I donno. If my neighbor gets a new fancy car, I'm happy for him. I wouldn't envy him or be jealous. Why would you want other people to not do well? It doesn't affect your own lifestyle.
    Little Dreamer

  18. #14
    Eruption
    Join Date
    01.06.04
    Posts
    806
    Last Online

    12.15.17 @ 06:05 PM
    Likes
    91
    Liked 172 Times in 106 Posts

    Default

    This reminds me of the parable of the workers in the vineyard in the Gospel of Matthew:

    Quote Originally Posted by Matthew 20:1–16
    For the kingdom of heaven is like unto a man that is an householder, which went out early in the morning to hire laborers into his vineyard. And when he had agreed with the laborers for a penny a day, he sent them into his vineyard. And he went out about the third hour, and saw others standing idle in the marketplace, And said unto them; Go ye also into the vineyard, and whatsoever is right I will give you. And they went their way. Again he went out about the sixth and ninth hour, and did likewise. And about the eleventh hour he went out, and found others standing idle, and saith unto them, Why stand ye here all the day idle? They say unto him, Because no man hath hired us. He saith unto them, Go ye also into the vineyard; and whatsoever is right, that shall ye receive. So when even was come, the lord of the vineyard saith unto his steward, Call the laborers, and give them their hire, beginning from the last unto the first. And when they came that were hired about the eleventh hour, they received every man a penny. But when the first came, they supposed that they should have received more; and they likewise received every man a penny. And when they had received it, they murmured against the goodman of the house, Saying, These last have wrought but one hour, and thou hast made them equal unto us, which have borne the burden and heat of the day. But he answered one of them, and said, Friend, I do thee no wrong: didst not thou agree with me for a penny? Take that thine is, and go thy way: I will give unto this last, even as unto thee. Is it not lawful for me to do what I will with mine own? Is thine eye evil, because I am good? So the last shall be first, and the first last: for many be called, but few chosen.

  19. #15
    Baluchitherium
    Join Date
    10.28.12
    Location
    Mean Street
    Posts
    4,202
    Favorite VH Album

    Fair Warning
    Favorite VH Song

    Bottoms Up!
    Last Online

    08.21.17 @ 09:32 PM
    Likes
    1,841
    Liked 2,028 Times in 1,265 Posts

    Default

    More of this needs to be happening. It hasn't been since 2007 wages have been stagnant it's been since 1980. That's when companies started to kick this nonsense into motion.

    In this case, I wouldn't have sacrificed that much. Give them ten or fifteen thousand raises. I think they woulda been happy with that.

 

 

Similar Threads

  1. Fannie, Freddie CEOs to Get $3.4 Million Raises
    By voivod in forum VH Fans Meeting Place (Non-Music)
    Replies: 1
    Last Post: 07.02.15, 07:11 AM
  2. Assault on California Power Station Raises Alarm on Potential for Terrorism
    By voivod in forum VH Fans Meeting Place (Non-Music)
    Replies: 11
    Last Post: 02.13.14, 05:43 AM
  3. Dubai request for debt 'standstill' raises fear
    By voivod in forum VH Fans Meeting Place (Non-Music)
    Replies: 5
    Last Post: 11.27.09, 06:22 AM
  4. A Spurt of Quake Activity Raises Fears in Yellowstone
    By ZeoBandit in forum VH Fans Meeting Place (Non-Music)
    Replies: 10
    Last Post: 01.05.09, 04:39 PM
  5. DIRTY, SEXY, MONEY: Ad For $9 MILF Sale Raises Eyebrows
    By voivod in forum VH Fans Meeting Place (Non-Music)
    Replies: 17
    Last Post: 12.04.07, 02:58 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •