18000 is 1/3 of 54,000Originally Posted by Spikender
54,000 is not near 70,000.
You can complain all you want, but it doesn't help if you're spewing nonsense with bad math.
it must be nice being a shill like you.
If my job was paying $5/hour, I would deliver a business proposal to investors and start a competing company and offer increased salaries so that I would have higher quality employees at my company and I would be able to run a better company that could take marketshares from the company paying employees $5/hr who have less competent workers.
Don't you know how free markets work?
Do you disagree with the post I made in the beginning of this thread? (I was "first in" post #2)
The owner of this company made a business decision based on an irrational ideology. A better business person would pay their employees competitive wages in order to hire the best employees which yield the best profit, and they would out-compete and win marketshare.Well he should be able to attract some good workers for those wages, if he can stay in business then that's great - but if somebody else can come in and is willing to take his current salary and pay employees more competitive wages it may be difficult for him to compete in the market.
Is this stuff really so difficult to understand? I mean, it's 3:16am and I am high and drunk and a mother f'er, yet I guarantee that my posts will stand up to all logical and philosophical scrutiny you can throw at them. Don't you run a business?? Does this not make any sense to you? You're sober and it's probably before noon when you're reading this..
Last edited by dannno; 12-06-2015 at 05:33 AM.
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Yes- it is a free market. The business owner is free to pay his workers however much he feels they are worth. If that is higher than what others in the same business pay and he can still make enough profit to stay in business there is no reason why he should not do it.
but for his investors may not like it, but that's not the end of the world.
He says he got free publicity which will increase his sales.
but he also said
Gravity says it historically has lost only about 9 percent of its customers a year. “Typically, there’s more than 30 percent attrition per year in our industry,” Price says. Not quite: A 2012 study for Discover Financial Services found the rate averages 16 percent, and other sources indicate attrition rates well below 30 percent.
This guy seems a little skeevy.
except it didn't quite work out that way, some of his customers left him. I certainly wouldn't want to pay somebody who overpays his employees.
From what I have read, the "investors" are him and his brother. Seems one reason he cut his own pay is that his brother was suing him over his salary.
http://www.seattletimes.com/business...um-pay-at-70k/
Last summer The Seattle Times reported that Dan Price, a national celebrity for raising the minimum annual pay at his Seattle-based credit card processor Gravity Payments to $70,000, had been sued by brother and company co-founder Lucas Price for overpaying himself.
The story noted that the lawsuit was dated March 13, several weeks before Dan Price’s April 13 proclamation, though it wasn’t filed in King County Superior Court until April 24. Lucas’s attorney said in that story that the cause was “an aggregation of events over the course of years” rather than the planned all-employee pay hike.Lawsuit scheduled to go to court in May.She hypothesizes that cutting his own pay while raising all employees to $70K was a strategic ploy that increases Dan Price’s financial and PR leverage vis-a-vis his brother in an ongoing dispute.
Of course, it’s possible that Dan Price’s ideas about revamping company pay were made known to his brother long before the lawsuit. (Lucas Price’s lawyer told Bloomberg his client only got an email about the pending raise on April 9.)
Well said.
I could've spent that 18000 they took for me better than the State/Feds ever could have. I'm a cheap person who penny pinches, but when I give, I give.
so much for right to speedy trial.
http://www.nytimes.com/2016/07/11/bu...y-brother.html
Dan Price, the chief executive of a small Seattle company who promised last year to pay every one of his workers at least $70,000 a year, has won a court battle with his brother.
On Friday, Judge Theresa B. Doyle of Superior Court in King County, in Washington State, ruled that Dan’s brother, Lucas, had failed to prove his claims that Dan had overpaid himself and inappropriately used a corporate credit card for personal expenses. The judge also ordered Lucas to pay Dan’s legal fees.
Mr. Price had come to symbolize one executive’s stand against the widening gap between workers’ pay and executive compensation. “The market rate for me as a C.E.O. compared to a regular person is ridiculous, it’s absurd,” Mr. Price said then. He described himself as a man with simple tastes and whose extravagances ran to snowboarding and picking up the occasional bar bill.
The lawsuit offered a glimpse into what the judge called “the volatility and downward spiraling” of the brothers’ relationship. The two founded Gravity Payments, a fast-growing privately held credit card payment processing company, in 2004. By 2008, the brothers had agreed to restructure the company so that Dan would have a majority 60 percent share and serve as its chief executive. Lucas would no longer be involved in the day-to-day management but would retain a 40 percent interest in Gravity Payments as a minority shareholder.
In recent years, the brothers have sparred over how to compensate Dan and how to pay dividends to shareholders. When Dan announced his plan to pay everyone at Gravity Payments a minimum salary of $70,000, Lucas objected, saying he was not informed of the decision until shortly before it was made public. A company spokesman said the lawsuit was filed two weeks after Dan announced the salary plan, which brought the company an unexpected crush of attention.
Lucas’s lawyer, Gregory J. Hollon, had argued that Dan had failed to meet the terms of the agreement reached when the brothers decided to restructure the company. “This is an unfortunate and troubling story of ego, resentment and an unwillingness of Dan Price to live with a deal he and his brother struck in 2008,” Mr. Hollon said, according to an article in The Seattle Times.
In a statement on Sunday, Lucas Price said: “I am shocked and disappointed with the decision and I will be considering my options.”
Dan Price praised the ruling in a statement posted to his Facebook page but also emphasized his ties to his brother. “My love for my brother is unconditional,” he said, noting Lucas’s “incredibly valuable role” in creating Gravity Payments.
“I’m thankful for the opportunity to put this challenging time behind us,” he said.
https://www.glassdoor.com/Salary/Gra...es-E697633.htm
https://www.glassdoor.com/Reviews/Gr...ws-E697633.htm
Interesting. Very different from how the story was reported. For anyone who wants to read through glassdoor page on the company.
Why not? Business expenses are tax deductions.
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