CEO raises minimum wage to $70000, takes $70000 wage himself until profits are met.

[RandyForRubio]

And there is a difference between wasteful and gluttonous.

 

[Harambe]

I wouldn't consider it gluttonous considering how much they have.

Is an 80 lb child eating 5 pounds of shrimp the same as The Rock eating the same amount? If building that home caused financial issues, then it probably would have been.

Now tell me why you think it's wasteful, because you insinuated that it was.

I absolutely did not. You assumed that was my opinion. That's all on you.

I'm not sure I know what's wasteful. I admit I'm a glutton. I could be doing a hell of a lot more with what I have. I'm sure a 2000 square foot house would work fine for me, but I have no kids, and I never have anyone over besides a female companion of mine.

But remember; Wasteful or gluttonous, neither are illegal.

Fair enough. I find it curious that when it comes to these type of economic/behavior issues that many folks default starting point for "drawing the line in the sand" starts at the top, rather than the bottom, yet in every other situation, we solve problems from the bottom up.

I think you miss something terribly. We did start at the bottom, and we realized we need tools to fix the issues we see. The ones at the top have those tools.

 

[NAOS]

And there is a difference between wasteful and gluttonous.

this conwersation has been dumb for a while.... but ... please... what is this difference you speak of? and how does it pertain to the conwersation?

 

[DutchJazzer]

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.

yeah socialism doesnt work on a small scale why would it on a national scale. source is fox

 

[DutchJazzer]

ok
nytimes source. cus you liberals think fox is in fantasy land

article is too long to paste

link:https://www.nytimes.com/2015/08/02/...klash-against-the-raise-that-roared.html?_r=0

 

[Gameface]

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



yeah socialism doesnt work on a small scale why would it on a national scale. source is fox

That's a poorly written article.

“The last think I would ever want to do is..."

the new salary scale is being eaten up by profits.

Is that good or bad?

 

[Gameface]

But I do wonder if people have considered this in regard to $15min wage. A lot of people who make around $15 now have the pride that they make a lot more than min wage. If they suddenly find themselves making min wage when they consider their position more significant than a min wage position they are going to want that status reflected in their own pay. That doesn't mean $16.50. Many people will be upset that they suddenly only make min wage.

 

[Nate505]

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



yeah socialism doesnt work on a small scale why would it on a national scale. source is fox

How is that socialism? The guy on his own is setting the wages to what he feels is appropriate. There is no government intervention whatsoever. He's a private citizen choosing how much he wants to spend in direct labor and how much each member of his labor force gets.

It's total capitalism. Since where is there a wage requirement and a profit percentage requirement in capitalism?

 

[Nate505]

ok
nytimes source. cus you liberals think fox is in fantasy land




link:https://www.nytimes.com/2015/08/02/...klash-against-the-raise-that-roared.html?_r=0

Fantasy land or not, it was a much, much, much better article that actually went in depth. It appears his brother's lawsuit is a much bigger problem than him setting his wages.

Granted, even I wouldn't set wages equally across the board (I do believe that financial incentives are appropriate/good for putting out good quality work), but on another note if someone offered me a $15k a year raise I wouldn't refuse it just because I knew the guy next to me got a $30k a year raise and was less experienced than me. It is an interesting example of people's pride or spite interfering in what is against their own self interest.

 

[Nate505]

That's a poorly written article.



Is that good or bad?

Sounds good to me. Wish my company was ate up by profits.

If it's implying that this guy's new salary scale is eating up profits, this guy's business may be in trouble unless he's paying for the losses himself.

All that being said, I fail to see the outrage here in a guy deciding his own labor costs, except that it could sink his business. But what I've been told since birth is that it's the right for the business owner to make his/her own decisions...apparently when they are making decisions to benefit the workers it is "socialism" (though I think that's more that Dutch has no clue what socialism is).

 

[Nate505]

But I do wonder if people have considered this in regard to $15min wage. A lot of people who make around $15 now have the pride that they make a lot more than min wage. If they suddenly find themselves making min wage when they consider their position more significant than a min wage position they are going to want that status reflected in their own pay. That doesn't mean $16.50. Many people will be upset that they suddenly only make min wage.

Let them quit their jobs and make burgers for the same amount of money.

I doubt many would do it. Minimum wage jobs suck for the most part. Not that I'm in favor of a $15 minimum wage, but at some point the minimum wage (if one believes in it at all) needs to rise to pace the costs of living expenses. Hell, living in Denver at $15 an hour is difficult. The average rent here for a one bedroom apartment is around $900, which comes to about 47% of the net salary (assuming one takes home around 75% of their $15 an hour after deductions). If you have a kid and need child care you're totally ****ed at that point. We are paying $840 a month for child care (aka $10,080 a year), and this includes my wife's discount at her job. It is ****ing crippling us financially now.

 

[DutchJazzer]

How is that socialism? The guy on his own is setting the wages to what he feels is appropriate. There is no government intervention whatsoever. He's a private citizen choosing how much he wants to spend in direct labor and how much each member of his labor force gets.

It's total capitalism. Since where is there a wage requirement and a profit percentage requirement in capitalism?

he is trying the same thing as socialism on a small scale. in this exemaple his coompany.
giving everyone not equal oppurtuinty but equal outcome