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CEO Raises Minimum Wage to $70,000

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Oh man, is this going to head down the weird route of naked on the streets of Venice Beach while arguing with chairs? You know, in the style of that Kony documentary guy.
 
waggy said:
seems more to the story then we thought..

http://www.bloomberg.com/features/2015-gravity-ceo-dan-price/

It's a long article and goes in depth. seems the CEO was ripping off his brother who owns part of the company he filled the lawsuit BEFORE (its documented) the pay raise.

also seems like he beat the shit out of his ex wife...


hmm
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This is interesting because of a couple weeks ago I read a story about a couple that accused somebody of something horrible. The story caused a stir and they setup a gofundme to help pay for the trauma. But when people started digging it turned out they lost a lawsuit for the exact amount of the gofundme goal just a couple weeks before this supposed interaction. They basically manufactured a story to gain sympathy and dupe people to pay for the lawsuit they lost.

People do strange things when presented with lawsuits. It could be 100% true or marginally true, or totally unrelated. The timing sure makes it suspect though.
But the lawsuit sounds like it may have merit. What I dont understand is how the minority partner allowed him to overpay for so long? Who is on the board that approved his salary?

The ironic thing is I was thinking about this story again a couple days ago after watching an Adam Ruins Everything episode about workplace compensation. Curious to see how this works long term.
 
lol 120 employees. This shit is funny because everyone just loves to insinuate that everyone can do this.

Guaranteed they outsource menial tasks or over-burden their current employees with them in combination with their skillful tasks.

Also slashing your own pay 90%? Go for it bud. At that point it's just charity work.
 
s0me0nesmind1 said:
lol 120 employees. This shit is funny because everyone just loves to insinuate that everyone can do this.

Guaranteed they outsource menial tasks or over-burden their current employees with them in combination with their skillful tasks.

Also slashing your own pay 90%? Go for it bud. At that point it's just charity work.
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No one insinuated that. Meanwhile you are insinuating that there is trickery behind his moves. Also, I’m not aware of anyone who thinks making over $120k a year is charity work.

Why do you always post such stupid shit?
 
ivwshane said:
No one insinuated that. Meanwhile you are insinuating that there is trickery behind his moves. Also, I’m not aware of anyone who thinks making over $120k a year is charity work.

Why do you always post such stupid shit?
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The same reason you bump up 4 year old trivial click-bait threads detective dipshit 😉
 
s0me0nesmind1 said:
The same reason you bump up 4 year old trivial click-bait threads detective dipshit 😉
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Because you want to update people on a unique business model to show that it wasn’t something that would cause the company to collapse and instead allowed him to expand?

Or were you just trying to prove my point with yet another dumb ass post?
 
ivwshane said:
No one insinuated that. Meanwhile you are insinuating that there is trickery behind his moves. Also, I’m not aware of anyone who thinks making over $120k a year is charity work.

Why do you always post such stupid shit?
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that dude is a fucking dumb chud. I wouldnt engage with him.
 
ivwshane said:
No one insinuated that. Meanwhile you are insinuating that there is trickery behind his moves. Also, I’m not aware of anyone who thinks making over $120k a year is charity work.

Why do you always post such stupid shit?
Click to expand...

Considering I get paid more than him on my base salary alone (along with majority of folks on this forum)? Yes, it's wishful thinking and a pipe dream to think that someone with the skills of a owner/CEO to get paid $120k. That's a fucking Bernie Sanders pipe dream sugar tits. Yes, that is the equivalency of charity work.
 
s0me0nesmind1 said:
Considering I get paid more than him on my base salary alone (along with majority of folks on this forum)? Yes, it's wishful thinking and a pipe dream to think that someone with the skills of a owner/CEO to get paid $120k. That's a fucking Bernie Sanders pipe dream sugar tits. Yes, that is the equivalency of charity work.
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Despite all the above it works and his business has been growing. Plus it appears the founder has discovered joy in the fact that (following is from memory) home ownership by his employees is up, fist time home ownership is up even more, plus more employees are having babies and expanding their families. Apparently being a good person has value.
 
I wish more execs would realize this. I also think it would be huge if employees received "royalties" of sorts for savings they introduce

A former coworker of mine optimized shipping logistics and his team saved like 500k a year. Why not take 1% of that and add it to the team's salaries?

Or the Wal-Mart guys who changed truck driver's step stools. The estimated savings in time and injury reduction were in the tens of millions per year. Giving those guys a small fraction of those savings would set them up quite well for the rest of their time at Wal-Mart.

Imagine how huge that would be. People would have a huge incentive to stay on, and companies would have a huge motivator for employees to work hard.
 
Fenixgoon said:
I wish more execs would realize this. I also think it would be huge if employees received "royalties" of sorts for savings they introduce

A former coworker of mine optimized shipping logistics and his team saved like 500k a year. Why not take 1% of that and add it to the team's salaries?

Or the Wal-Mart guys who changed truck driver's step stools. The estimated savings in time and injury reduction were in the tens of millions per year. Giving those guys a small fraction of those savings would set them up quite well for the rest of their time at Wal-Mart.

Imagine how huge that would be. People would have a huge incentive to stay on, and companies would have a huge motivator for employees to work hard.
Click to expand...
It depends on how competitive the local labor market is, and whether there are things like non-competes. Silicon Valley is very competitive, and there are generally good incentives to stay for top contributors, because they can find a new job across the street in days at the company's competitor. But if you are the only similar employer in town or have enforceable non-compete, you don't need to worry about that as an employer.
 
don't forget that when he originally raised the minimum to 70k he took a major cut in his pay and applied it to the pay increase, not all CEOs will do that, greed is just too prevalent in corporate america.
 
Fanatical Meat said:
Despite all the above it works and his business has been growing. Plus it appears the founder has discovered joy in the fact that (following is from memory) home ownership by his employees is up, fist time home ownership is up even more, plus more employees are having babies and expanding their families. Apparently being a good person has value.
Click to expand...

However, money is god. Though shall not have other gods.
 
Gosh it's almost like if you take care of your employees they will take care of you. Real barn-burner of a discovery. Oh look, all the same conservative chowderheads were screaming up front how this would fail! Sort of like when they cried about capital gains tax increases and military spending cuts in the 90s, and their constant fear of the demon socialism.
 
s0me0nesmind1 said:
The same reason you bump up 4 year old trivial click-bait threads detective dipshit 😉
Click to expand...

you would have bumped if it didn't work, only to point and laugh, and of course declare it non-trivial. But of course now it is trivial, for reasons you have invented to classify as trivial.

You're no mystery, bro.
 
Fenixgoon said:
I wish more execs would realize this. I also think it would be huge if employees received "royalties" of sorts for savings they introduce

A former coworker of mine optimized shipping logistics and his team saved like 500k a year. Why not take 1% of that and add it to the team's salaries?

Or the Wal-Mart guys who changed truck driver's step stools. The estimated savings in time and injury reduction were in the tens of millions per year. Giving those guys a small fraction of those savings would set them up quite well for the rest of their time at Wal-Mart.

Imagine how huge that would be. People would have a huge incentive to stay on, and companies would have a huge motivator for employees to work hard.
Click to expand...

Duh, because cost-savings in your business is only a strategy to increase executive pay, never to make employees happy. Reagan codified this into law, when he decided that they no longer needed tax breaks to keep their employees happy and successful--all you do is remove those tax breaks and allow the execs to keep all the money for themselves!

Boom, a generation of GOP retards is born.
 
dank69 said:
Gosh it's almost like if you take care of your employees they will take care of you. Real barn-burner of a discovery. Oh look, all the same conservative chowderheads were screaming up front how this would fail! Sort of like when they cried about capital gains tax increases and military spending cuts in the 90s, and their constant fear of the demon socialism.
Click to expand...

Dude you sound like a commie, are you commie?
 
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