CEO Raises Minimum Wage to $70,000

[1prophet]

I agree we have failed as a society. Why do so many people get upset when someone earns more money? Why is it bad for a janitor to get paid more than they're worth but its capitalism when a CEO gets paid huge bonuses for running a company into the ground?

Why can't both be bad the overpaid janitor and overpaid CEO.

 

[Darwin333]

yeah. why? because the person making 70k has either been with the company longer, higher education whatever.

The guy making 45k either was lazy, fucked up to often or had no education.

now they both make 70k.

So now the owner just killed any reason to work better/harder. why? you aren't going to get the better jobs that pay more. There is no reason to care.

He also just showed the guy who was making more he didn't care about him. Why would you want to work for that? i would really think about a new job too.

The guys heart was in the right place. he wanted to give everyone a better pay and he really didn't need it. BUT he decided to make it public and went about it the wrong way.

There wasn't anyone making $70K initially. One guy got a free $15K a year raise while another got a free $25K a year raise, both for the same reason which was because the owner felt like it.

So again, you would be pissed and unmotivated because you are now making $15K a year more?

I do agree with the publicity part blowing up in his face but I am just trying to wrap my head around people being pissed because they are making more money that they weren't otherwise going to make. They are more concerned that some other guy is making the same amount as them than they are concerned with the fact that they are now better off. Not to mention that someone who is only worth $40K in the market who is now making $70K is hella motivated to keep his job, I'd personally be busting my everloving ass because I know there are hundreds, if not thousands, of people just waiting for someone to get fired.

I personally don't waste my time worrying about other people or how much they make. I concern myself with myself and how much I make. If some asshole can make as much as me doing half the work, good for him. Personally I find my work gratifying and as long as I am making at or above what I feel I am worth I am a happy camper. It's just petty dick measuring BS.

On the business part, the articles I read it looks like he made a rather poor business decision. When you are saying things like "no margin of error" that usually means one or two mistakes away from insolvency. If my business was in a position that it had "no margin of error" I'd be cutting things as much as I could in order to have a sizable margin of error.

 

[Hugo Drax]

There wasn't anyone making $70K initially. One guy got a free $15K a year raise while another got a free $25K a year raise, both for the same reason which was because the owner felt like it.

So again, you would be pissed and unmotivated because you are now making $15K a year more?

I do agree with the publicity part blowing up in his face but I am just trying to wrap my head around people being pissed because they are making more money that they weren't otherwise going to make. They are more concerned that some other guy is making the same amount as them than they are concerned with the fact that they are now better off. Not to mention that someone who is only worth $40K in the market who is now making $70K is hella motivated to keep his job, I'd personally be busting my everloving ass because I know there are hundreds, if not thousands, of people just waiting for someone to get fired.

I personally don't waste my time worrying about other people or how much they make. I concern myself with myself and how much I make. If some asshole can make as much as me doing half the work, good for him. Personally I find my work gratifying and as long as I am making at or above what I feel I am worth I am a happy camper. It's just petty dick measuring BS.

On the business part, the articles I read it looks like he made a rather poor business decision. When you are saying things like "no margin of error" that usually means one or two mistakes away from insolvency. If my business was in a position that it had "no margin of error" I'd be cutting things as much as I could in order to have a sizable margin of error.

Americans in general are stupid and probably suffer from some kind of Stockholm syndrome. We need more immigrants, because the 4th+ generation Americans have become soft and petty.

We are becoming like the Ottoman empire in its last 100 years.

 

[her209]

The researcher should do the same experiment but make one monkey do more work for the same pay.

https://www.youtube.com/watch?v=meiU6TxysCg

 

[Nebor]

The guy helping me load a microwave into my Porsche Macan was asking me a bunch of questions about it earlier today. Then when we were done he pointed across the parking lot and goes, "that's my GT3 over there." So I guess Lowes is getting on board with this trend too. Or he's smuggling cocaine into the country in appliances.

 

[JSt0rm]

did you get a Macan for real? How do you like it?

 

[zinfamous]

Probably more appropriate to link the source:

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

Dayuum!

 

[Subyman]

Assuming that these high performing employees were already being paid a market wage, how were they fucked and what benefit would they receive by leaving to work somewhere else for the same wage?

It's human psyche. No one likes to work in a place where they feel their hard work and commitment is not being properly rewarded. Believe it or not, humans are nearly completely absorbed with comparing themselves to others. It is how we function after all the basic needs are met. Workplace pay vs rank vs commitment is practically a distillation of that human characteristic taken to the extreme.

 

[ivwshane]

It's human psyche. No one likes to work in a place where they feel their hard work and commitment is not being properly rewarded. Believe it or not, humans are nearly completely absorbed with comparing themselves to others. It is how we function after all the basic needs are met. Workplace pay vs rank vs commitment is practically a distillation of that human characteristic taken to the extreme.

I agree and I think it's a fucked up human trait and should be changed if we as a species ever want to evolve to something greater.

 

[Nebor]

did you get a Macan for real? How do you like it?

Yeah. It's ok. I wouldn't recommend it.

Pic from last night. It occurred to me what a fucking ghetto I live in when I noticed the backdrop behind the car:

 

[JSt0rm]

Looks good. I'm torn on those. I like them better the the bigger one but I also want something to actually take on service roads out in the desert.

 

[MiniDoom]

pretty cool, on the flip side though i would be a little distraught if I was making 71k and now joe mail room dude gets a raise to 70k.

saw this coming...

 

[TheSlamma]

If more places do this I'm going to become a professional mail room guy.

 

[michal1980]

I agree and I think it's a fucked up human trait and should be changed if we as a species ever want to evolve to something greater.

you mean to devolve into noncompetitive lazy slugs? (probably an insult to the slug)

 

[Blackjack200]

Dayuum!

Right?

saw this coming...

When I heard about this, I thought he would adjust other salaries to, to reward employees more senior, but it looks like he didn't do that. If I was making $72k, and everybody got adjusted up to $70k and I was left at $72k, I'd quit too. That's fucked up, and I can't believe he didn't see that coming. Then again, he's a 31 year old CEO.

 

[Vic]

you mean to devolve into noncompetitive lazy slugs? (probably an insult to the slug)

It's not very competitive to quit a well-paying job just because you believe you should be paid a certain amount more than your co-workers. That's an emotional decision.
And a big reason why most companies don't allow employees to discuss their compensation with each other. Most positions within most companies pay within a fairly narrow salary range. In that position will be high performers, average performers, and low performers. Generally speaking, compensation and performance will only be loosely correlated, as compensation tends to be based more on education, experience, seniority, and the employee's ability to negotiate than on actual performance.
But hey, didn't you try to use the example of OT earlier when the jobs being discussed here are almost all non-exempt (hourly)?

 

[JockoJohnson]

So what happens when the people who are making $70k/year (previously $45k/yr) leave that job and look for work elsewhere? Do you think some other company is going to pay them $70k for their position? Just because this CEO "valued" their position at $70k/yr. doesn't mean some other company has to honor that. Hopefully the people who got that pay raise don't live beyond their original means or leave the company.

This sounds similar to what the retards are doing in NYS with the minimum wage increase for burger flippers only. $15/hr at full time (40 hrs per week) equates to roughly $30k/yr. What happens if the burger flipper leaves, gets fired, moves, etc. and has to find a low paying job outside of burger flipping? Now they have to adjust their way of living because they got used to living on $15/hr.

Is the answer to just raise everyone's salary to $70k/year? I don't think so. Clearly, this little experiment failed. It is completely natural for people to be disgruntled if they were making a lot already and now are making the same as the "janitor". If the salaries were raised equally by a set percentage, then there might not be so much discord but that is not what happened.

We are all unique and have different abilities. Are some of you saying that we should view each other as the same? That seems hypocritical.

 

[BoberFett]

It's not very competitive to quit a well-paying job just because you believe you should be paid a certain amount more than your co-workers. That's an emotional decision.
And a big reason why most companies don't allow employees to discuss their compensation with each other. Most positions within most companies pay within a fairly narrow salary range. In that position will be high performers, average performers, and low performers. Generally speaking, compensation and performance will only be loosely correlated, as compensation tends to be based more on education, experience, seniority, and the employee's ability to negotiate than on actual performance.
But hey, didn't you try to use the example of OT earlier when the jobs being discussed here are almost all non-exempt (hourly)?

Funny, that's not the usual "liberal" line. I thought employers were evil beings who didn't want you talking about salaries because they hate America and pay men twice as much just for being men.

That said, for this story, it has only been a few months. Give it a year or two to shake out and see what happens. Short term results mean little.

 

[JSt0rm]

It looks like he has 4 problems.

1. Some senior people got mad and left. Probably got jobs paying more then 70k

2. His brother is using him for reasons.

3. Some clients left because they thought the prices would go up (probably just conservatards tuned into communism hate on the radio)

4. He has gotten so much new work that he had to hire more people and he won't know for a year if that new work will be profitable.

So some interesting problems for a CEO to handle.

 

[bozack]

It looks like he has 4 problems.

1. Some senior people got mad and left. Probably got jobs paying more then 70k

2. His brother is using him for reasons.

3. Some clients left because they thought the prices would go up (probably just conservatards tuned into communism hate on the radio)

4. He has gotten so much new work that he had to hire more people and he won't know for a year if that new work will be profitable.

So some interesting problems for a CEO to handle.

interesting problems indeed....

http://www.foxnews.com/us/2015/08/0...um-wage-to-70g-rents-house-to-make-ends-meet/

"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."

 

[bozack]

The guy helping me load a microwave into my Porsche Macan was asking me a bunch of questions about it earlier today. Then when we were done he pointed across the parking lot and goes, "that's my GT3 over there." So I guess Lowes is getting on board with this trend too. Or he's smuggling cocaine into the country in appliances.

Wow, talk about assumptions...

Everyone in this country is entitled to a nice house, a phone, cable TV, gaming system, cable, an apple watch, and at least a boxster regardless of what they do for work.

 

[JSt0rm]

interesting problems indeed....

http://www.foxnews.com/us/2015/08/0...um-wage-to-70g-rents-house-to-make-ends-meet/

"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."

I dare you to find that quote in the nyt article? I searched for rent through the article and didnt find it. His net worth is 3,000,000.

Stop quoting fox news. ITs not a real new source. They even argued that it was considered entertainment in court.

 

[etrigan420]

interesting problems indeed....

http://www.foxnews.com/us/2015/08/0...um-wage-to-70g-rents-house-to-make-ends-meet/

"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."

...it's like you didn't even read the fucking thread...

 

[ivwshane]

Right?



When I heard about this, I thought he would adjust other salaries to, to reward employees more senior, but it looks like he didn't do that. If I was making $72k, and everybody got adjusted up to $70k and I was left at $72k, I'd quit too. That's fucked up, and I can't believe he didn't see that coming. Then again, he's a 31 year old CEO.



It's not a fucked up trait to think you should be rewarded for working hard and contributing more. It's possible to be against excessive executive pay, support a "living wage", and still want to be compensated for your experience and seniority.

Yeah that's not fucked up at all which is why I never said it was.

 

[JSt0rm]

...it's like you didn't even read the fucking thread...

I cant imagine someone who is so stupid to believe the fox news story that took the nyt story and twisted it.