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Old 02 December 2015, 03:22 AM
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Beachlife! Beachlife! is offline
 
Join Date: 22 June 2001
Location: Lansing, MI
Posts: 28,320
Icon605 The CEO Paying Everyone $70,000 Salaries Has Something to Hide

Inside the viral story of Gravity CEO Dan Price

Quote:
It seemed too good to be true. On April 13, with reporters from the New York Times and NBC News hovering nearby, Dan Price, the young chief executive officer of Gravity Payments, a Seattle-based credit card processing company, told his staff he was raising their minimum salary to $70,000 a year. Some employees would see their wages double. There was more: He planned to cut his own $1.1 million compensation to help cover the cost. The idea came to him, hed later tell the media, after talking to a friend who earned less than he did. Hed read about a study showing that extra income improves the happiness of people who earn less than about $75,000. Its not about making money; its about making a difference, Price told the Today Show, one of two dozen TV interviews he did in the days following the announcement.
The guys always seemed a bit squirrely to me, this interview doesn't make him seem any less so.
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