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Title: CEO Raises Salaries to $70K for EVERY Employee, Now has to Rent Out his Own Home to Make Ends Meet
Source:
The Young Conservative
URL Source: [None]
Published: Aug 2, 2015
Author: John S. Roberts
Post Date: 2015-08-02 10:40:45 by GrandIsland
Keywords: None
Views: 9197
Comments: 63
Back in April we told you about Dan Price, CEO of Gravity Payments, who said he would pay every single one of his employees $70,000 annually. Every single one, from the lowest skilled workers on up. Now, as expected, Price has fallen on hard times financially, even having to rent out his own home. Employees who work for Gravity are now leaving the company, “spurred in part by their view that it was unfair to double the pay of some new hires while the longest-serving staff members got small or no raises.” This was always going to be the outcome. If everyone hits the jackpot, does anybody really win the lottery? When Dan Price, founder and CEO of the Seattle-based credit-card-payment processing firm Gravity Payments, announced he was raising the company’s minimum salary to $70,000 a year, he was met with overwhelming enthusiasm. “Everyone start[ed] screaming and cheering and just going crazy,” Price told Business Insider shortly after he broke the news in April. But in the weeks since then, it’s become clear that not everyone is equally pleased. Among the critics? Some of Price’s own employees. Maisey McMaster — once a big supporter of the plan — is one of the employees that quit. McMaster, 26, joined the company five years ago, eventually working her way up to financial manager. She put in long hours that “left little time for her husband and extended family,” The Times says, but she loved the “special culture” of the place. But while she was initially on board, helping to calculate whether the company could afford to raise salaries so drastically (the plan is a minimum of $70,000 over the course of three years), McMaster later began to have doubts. “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,” she told The Times. A fairer plan, she told the paper, would give newer employees smaller increases, along with the chance to earn a more substantial raise with more experience. Back in April we told you about Dan Price, CEO of Gravity Payments, who said he would pay every single one of his employees $70,000 annually. Every single one, from the lowest skilled workers on up. Now, as expected, Price has fallen on hard times financially, even having to rent out his own home. Employees who work for Gravity are now leaving the company, “spurred in part by their view that it was unfair to double the pay of some new hires while the longest-serving staff members got small or no raises.” This was always going to be the outcome. If everyone hits the jackpot, does anybody really win the lottery? From BI: When Dan Price, founder and CEO of the Seattle-based credit-card-payment processing firm Gravity Payments, announced he was raising the company’s minimum salary to $70,000 a year, he was met with overwhelming enthusiasm. “Everyone start[ed] screaming and cheering and just going crazy,” Price told Business Insider shortly after he broke the news in April. But in the weeks since then, it’s become clear that not everyone is equally pleased. Among the critics? Some of Price’s own employees. Maisey McMaster — once a big supporter of the plan — is one of the employees that quit. McMaster, 26, joined the company five years ago, eventually working her way up to financial manager. She put in long hours that “left little time for her husband and extended family,” The Times says, but she loved the “special culture” of the place. But while she was initially on board, helping to calculate whether the company could afford to raise salaries so drastically (the plan is a minimum of $70,000 over the course of three years), McMaster later began to have doubts. “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,” she told The Times. A fairer plan, she told the paper, would give newer employees smaller increases, along with the chance to earn a more substantial raise with more experience. From Fox News: Dan Price, 31, tells the New York Times that things have gotten so bad he’s been forced to rent out his house. “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. 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.” 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.” And to think, all of this came about within a few short months. Liberal logic, for ya. One man with good intentions loses so much because he doesn’t understand how economics work. Socialism: We all fail together! Poster Comment: 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.” SOCIALISTIC INCOME EQUALITY WILL DO THIS EVERY TIME... WE ARE NOT EQUAL.
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#1. To: GrandIsland (#0)
All government workers believe in socialism; they believe in stealing from the honest taxpayers and giving the bounty to themselves.
Hypocritical Bucky. In your community, how many roads do you surface, plow or build? How many criminals have you caught and arrested? How many house fires have you responded to? If you condemn a government paid employee to do these things, surely you do them for free. Something tells me you don't do anything like that... but just call the people that do, socialists. lol I'm the infidel... Allah warned you about. كافر المسلح
Taxpayer dollars pay for all the services that you discuss; we even pay for your water-cooler chitchat that go on and on, for hours on end, about your free pensions.
Who could have predicted these intense repercussions? : ) This guy seems to spend a lot of time changing his hairstyle and posing for glam photos. My goodness, look at that, a sweet young Lefty reduced to sitting on a bucket! It's a national tragedy. I'm surprised he's managed to build such a solid business but he has been a king of cut-rate credit card processing for small business. It's funny that his brother, the 30% owner, is suing his ass.
No shit, Sherlock... and if you aren't willing to do those services FOR FREE, on your spare time, then WE NEED THEM AND IT ISN'T SOCIALIST.... or you can kindly stfu. Your forefathers intended on limited government services because they, being smarter then you, knew that this country would need some government services and it's NOT SOCIALISTIC to fund "limited" services that everyone uses equally. So either do the job of police officer, for free, or shut your mouth about those that do it for a paycheck. I'm the infidel... Allah warned you about. كافر المسلح
I think it's wonderful he's sitting on a bucket, but he'll do what the millennium generation does... pass blame on something other than his socialist income equality scheme. The greatest threat our country faces with income equality is no drive to be better than the person next to you. We are not equal... we never were. We should never treat people as equals, people should only be treated FAIRLY. I'm the infidel... Allah warned you about. كافر المسلح
The same thing will happen with the $15 minimum wage. Employees who have been there five years and worked their way up to $15 an hour see a new hire being paid that. Now what?
Had he raised salaries to $500,000 maybe it would have worked better.
I bet you his salary wasn't 70K lol I'm the infidel... Allah warned you about. كافر المسلح
The young Lefty owner was supposedly taking home over a million a year before this. I read it elsewhere. And his older brother was doing quite well with his 30% share. Now he's sitting on a bucket, tossing his flaxen curls, in the garage of the house he's been forced to rent out, possibly even Republicans.
John S. Roberts doesn't know what he's talking about.
The ideal of income equality is a piss poor business decision... and income equality has everything to do with socialism whether it's done by a private business owning socialist or your government tries this failed, shitty ideal. The fact that you've already spun different reasons than socialism as the cause of failure, tells me how socallistic and ignorant you are. I'm the infidel... Allah warned you about. كافر المسلح
No, when attempted by private business, that business risks being undercut by the competition. It's basicly the same difference between "Free Trade" and "Fair Trade". LEARN THE DIFFERENCE.
As Willie stated. This is not socialism if a private business does this on their own. I guess socialism is now a code word in GOP circles for something else. Socialism has only ONE meaning - the govt control of the economy and govt ownership of business/resources.
Sure. Why not dump your $15/hour job putting up dry wall and just take $15/hour to flip burgers instead?
Neither job is a skilled tradesman job. In any case, cities that have a high cost in housing should adopt socialist measures and build low cost community housing that will allow minimum wage workers to afford care. That is a better solution than raising wages to try and match some sort of fair living wage. The thing is most jobs are in big cities and this forces people to commute up to 2 hours a day and more. This applies to middle class people and poor people. It is not a case of them trying to find work nearby - there is no work in rural or suburban areas in these quantities. Public transportation can't hack it either and roads are clogged. And I am not talking about 'projects' style housing either. small 2 to 4 family style homes built in a lot of the unused city land and rented or sold cheap to working class families within 30 minutes of downtown is doable and cheap. It is something that would not cost a lot to do and would pay off in tax revenue, increases in quality of life (families may divorce less, parents near schools, more involved in child rearing, etc).
My point is, people have worked their way up to $15 an hour by busting their butt at their job for years. Along comes a new hire making $15 an hour. They're going to be pissed.
I was giving an example of an inside job with low physical effort compared to an entry-level construction job. Shingling, dry wall, etc. Now you're going far afield. Being a crass Republican, I was talking about the immediate and long-term effects of raising minimum wage well above the going rate for a lot of other jobs that require more skill or harsher working conditions.
There used to be jobs in the inner cities -- before gangs, guns, drugs, arson, murder, rape and assault drove them out. That wasn't my fault so I feel no obligation to fix it.
Of course. Anyone in a union shop knows how annoying it is to get paid the same to do your job as for the people who show up only for a check and seem to compete at avoiding doing any actual work.
Minimum wage jobs are starter jobs for teenagers that are living at home with Mommy and Daddy. They aren't meant for you to make a living off of just learn what work is all about... BTA again if the stupid bastards you vote for weren't in office this country wouldn't have that problem now would it?? That hasn't been true for a long time. Especially in recent years where illegals are grabbing up 70% of the minimum wage jobs, possibly more. And I recall when you could make ends meet on minimum wage. I did it while working through college. So did a lot of other people.
That wasn't my fault so I feel no obligation to fix it. Your statement tells me you don't know shit. There were never jobs in residential areas except for like grocery jobs, etc. People in the "inner city" would commute to work on the train or bus. They still do but rent is high these days even for inner cities. Harlem rent, for example, starts at 1,000 a month for example and he is white - moving into a former black part of town because rents are still cheaper there but it still blows a hole in his budget.
And I recall when you could make ends meet on minimum wage. I did it while working through college. So did a lot of other people. TC is correct - this idea that kids are being employed after school or summer jobs on minimum wage like we still live in Mayberry times is long dead. I don't get why this still pops up.
Republicans?
One idea that I like is for city govt to give up land for a construction company like Trump to build low cost housing - high rent mixed with middle and low rent maybe? Studies show mixed classes produce stable communities - and allow the company to rent and or sell condos and rent apts that will have fixed prices - say for 10 years. This way no taxes are raised and you add value to unused land. Better spent then building sports stadiums, etc.
Look, the point you are trying to avoid via semantics, is a socialistic IDEAL (like income equality) DOESNT WORK, whether it's done as a government OR IF A PRIVATE BUSINESS operates under the same bullshit ideologies. Try and keep up with my conversations. Shall I type slower for you? I'm the infidel... Allah warned you about. كافر المسلح
Neither job is a skilled tradesman job. Ever tried to explain that to someone that puts up drywall? n any case, cities that have a high cost in housing should adopt socialist measures and build low cost community housing that will allow minimum wage workers to afford care. ROFLMAO! "Socialism" described as being "low cost"! Good one,comrade! Why is democracy held in such high esteem when it’s the enemy of the minority and makes all rights relative to the dictates of the majority? (Ron Paul,2012)
$5 says he's never done any "rocking" before, especially ceilings... That hasn't been true for a long time. Especially in recent years where illegals are grabbing up 70% of the minimum wage jobs, possibly more. Sounds like you guys are willing to accept these changes (for the worse) to our country instead of fixing the real problem(s)??? We haven't accepted it. We're just mentioning the news reports. I know I recall Drudge posting a story about the illegals taking the bulk of the summer jobs away from the teens. Then there are the tourist spots mostly along the coasts where we often import foreign teenagers to work resorts and beach concession stands and so on. They allow in tens of thousands of foreigners to do this work. So it isn't just illegals, it's also foreigners with a legal job. Probably some of them then overstay their visa as we do know that a large portion of the "illegals" are people who overstayed a lawful student visa or work visa.
Ever tried to explain that to someone that puts up drywall? That's why socialist should never be allowed in government! If I had a choice of sweeping floors, flipping burgers, drywaller or roofer for the same or close to the same pay it would be flipping burgers! I have worked around drywallers and I have roofed before and it's not a job a sane person chooses. You choose it for the pay.
It is not dead. All of my kids at the proper age had jobs. Not just during the summer but during the school year too. They also always have the opportunithy to do work for me. Which they did since they were little.
I got my first job in 74 working for $1.90 per hour which was minimum wage at that time, I was a Junior in High School. There is no way that job would have let me move out and be on my own unless I lived in a cardboard box. Now when I got a job working for a refuse company (making 3 times minimum wage) then I could have moved out on my own. Instead I decided to go into the military and learn a real skill and be able to get real jobs and have never looked back. IIRC this is what is called "Starting at the bottom and working your way up", you know what most Americans used to pride themselves for doing?? (Not anymore I would say). I'm dumbfounded as to what the reasoning is nowadays for not traveling the route I traveled to become a responsible human being??????? (Laziness, believing the Leftard meme, stupidity)??????? Since I now have a good family, (2 and 4 legged) Grandchildren, cars, boat, and house/property worth right at $300K I don't consider that as wasting my life, some might but I don't... The ones that do are what's wrong with this country, and they know it just won't admit it!!! The Russians and Czhecks etc that work at the resorts are interesting people to talk to. I think they hire them for lifeguards because they can't quit. Unless they want to go home. I do kind of get irritated sometimes when some foreigner is blowing the whistle telling me to come closer to shore.
If you would be so kind as to inform me "which politicians" want to do the right thing for this country instead of looking out for their own wallet then we'll both know... But I have a sneaking suspicion your answer will make me laugh!!! bwaawhahahahahahahahahahahahhahahahahahahahah That's a good one. You a responsible person. lol. Just kiddin. :) Aren't you the one who used to drive through puddles when it was raining to splash old ladies? What was that you wiped on that window?
Cruz, Trump, Jindal. That was an easy one.
Sounds like a whole lot of changes need to be made to put things right, like getting rid of all the illegals/foreigners for a start. Raising minimum wage will only entice more of them to come here and ruin it for everybody else. ROFLMAO! "Socialism" described as being "low cost"! Good one,comrade! I call it socialism to tweak you guys. The proposals I have read and liked have to do with cities handing over land they own (so I guess that is socialism) and giving it away to a developer with the condition they produce housing that will be sold or rented at predetermined rates. Bloomberg, the past billionaire mayor of New York wanted to do something like that. The housing is built by a private contractor and since they got the land for free they can charge less money for rent and sales costs if a condo or co-op. Like it or not, the majority of workers in this country live in teh suburbs and commute to the city and many are on the road for 2 to 3 hours one way every day - all because they can't afford to live in the city limits near their jobs. If I was a mayor I would want to make it possible these workers live in the city where they can be taxed and where they can live and spend their money on the local economy. After 5pm many cities become ghost towns.
Comments (41 - 63) not displayed.
Top • Page Up • Full Thread • Page Down • Bottom/LatestSocialism: We all fail together!
#2. To: buckeroo (#1)
(Edited)
All government workers believe in socialism
#3. To: GrandIsland (#2)
#4. To: GrandIsland (#0)
“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.
#5. To: buckeroo (#3)
Taxpayer dollars pay for all the services that you discuss; we even pay for your water-cooler chitchat that go on and on, for hours on end, about your free pensions.
#6. To: TooConservative (#4)
This guy seems to spend a lot of time changing his hairstyle and posing for glam photos. My goodness, look at that, a sweet young Lefty reduced to sitting on a bucket! It's a national tragedy.
#7. To: GrandIsland (#0)
"McMaster, 26, joined the company five years ago, eventually working her way up to financial manager."
#8. To: GrandIsland (#0)
CEO Raises Salaries to $70K for EVERY Employee, Now has to Rent Out his Own Home to Make Ends Meet
#9. To: rlk (#8)
#10. To: GrandIsland (#9)
(Edited)
I bet you his salary wasn't 70K
#11. To: GrandIsland (#0)
Socialism: We all fail together!
Author: John S. Roberts
This has absolutely nothing to do with "socialism."
Gravity Payments operates in the private sector... and while CEO Dan Price may have been a creative entrepreneur, he's also a obviously a piss-poor business manager.
Nevertheless, government regulation and "socialism" still has nothing to do with Gravity Payments difficulties... Dan Price did that all by himself.
#12. To: Willie Green (#11)
he's also a obviously a piss-poor business manager.
#13. To: GrandIsland (#12)
and income equality has everything to do with socialism whether it's done by a private business owning socialist or your government tries this failed, shitty ideal.
When imposed by government, all business compete on the same, level playing field.
The former leads to self-destructive, cut-throat competition and a "race to the bottom" as health/safety & environmental standards and the standard of living is continuously undercut and eroded... the latter (fair trade) provides the benefits of competition while assuring a level playing field that does NOT undercut standards.
#14. To: GrandIsland, buckeroo, TooConservative, misterwhite, rlk, Willie Green (#0)
(Edited)
John S. Roberts doesn't know what he's talking about. This has absolutely nothing to do with "socialism." Gravity Payments operates in the private sector... and while CEO Dan Price may have been a creative entrepreneur, he's also a obviously a piss-poor business manager. Nevertheless, government regulation and "socialism" still has nothing to do with Gravity Payments difficulties... Dan Price did that all by himself.
#15. To: misterwhite (#7)
The same thing will happen with the $15 minimum wage. Employees who have been there five years and worked their way up to $15 an hour see a new hire being paid that.
#16. To: TooConservative, misterwhite (#15)
Sure. Why not dump your $15/hour job putting up dry wall and just take $15/hour to flip burgers instead?
#17. To: TooConservative (#15)
#18. To: Pericles (#16)
Neither job is a skilled tradesman job.
In any case, cities that have a high cost in housing should adopt socialist measures and build low cost community housing that will allow minimum wage workers to afford care.
#19. To: Pericles (#16)
#20. To: misterwhite (#17)
My point is, people have worked their way up to $15 an hour by busting their butt at their job for years. Along comes a new hire making $15 an hour. They're going to be pissed.
#21. To: Pericles (#16)
In any case, cities that have a high cost in housing should adopt socialist measures and build low cost community housing that will allow minimum wage workers to afford care.
“Let me see which pig "DON'T" I want to vote for, the one with or without lipstick??" Hmmmmm...
#22. To: CZ82 (#21)
Minimum wage jobs are starter jobs for teenagers that are living at home with Mommy and Daddy.
#23. To: misterwhite (#19)
There used to be jobs in the inner cities -- before gangs, guns, drugs, arson, murder, rape and assault drove them out.
#24. To: TooConservative, CZ82 (#22)
inimum wage jobs are starter jobs for teenagers that are living at home with Mommy and Daddy. That hasn't been true for a long time. Especially in recent years where illegals are grabbing up 70% of the minimum wage jobs, possibly more.
#25. To: CZ82 (#21)
TA again if the stupid bastards you vote for weren't in office this country wouldn't have that problem now would it??
#26. To: TooConservative (#22)
#27. To: Pericles (#14)
This is not socialism if a private business does this on their own.
#28. To: Pericles (#16)
Sure. Why not dump your $15/hour job putting up dry wall and just take $15/hour to flip burgers instead?
#29. To: sneakypete (#28)
Ever tried to explain that to someone that puts up drywall?
“Let me see which pig "DON'T" I want to vote for, the one with or without lipstick??" Hmmmmm...
#30. To: TooConservative, Pericles (#22)
TC is correct - this idea that kids are being employed after school or summer jobs on minimum wage like we still live in Mayberry times is long dead. I don't get why this still pops up.
“Let me see which pig "DON'T" I want to vote for, the one with or without lipstick??" Hmmmmm...
#31. To: CZ82 (#30)
Sounds like you guys are willing to accept these changes (for the worse) to our country instead of fixing the real problem(s)???
#32. To: sneakypete, pericles (#28)
Sure. Why not dump your $15/hour job putting up dry wall and just take $15/hour to flip burgers instead? Neither job is a skilled tradesman job.
#33. To: Pericles (#24)
TC is correct - this idea that kids are being employed after school or summer jobs on minimum wage like we still live in Mayberry times is long dead. I don't get why this still pops up.
#34. To: TooConservative, Pericles, redleghunter, Liberator, tomder55 (#22)
And I recall when you could make ends meet on minimum wage. I did it while working through college. So did a lot of other people.
“Let me see which pig "DON'T" I want to vote for, the one with or without lipstick??" Hmmmmm...
#35. To: TooConservative (#31)
Then there are the tourist spots mostly along the coasts where we often import foreign teenagers to work resorts and beach concession stands and so on. They allow in tens of thousands of foreigners to do this work. So it isn't just illegals, it's also foreigners with a legal job. Probably some of them then overstay their visa as we do know that a large portion of the "illegals" are people who overstayed a lawful student visa or work visa.
#36. To: Pericles (#25)
“Let me see which pig "DON'T" I want to vote for, the one with or without lipstick??" Hmmmmm...
#37. To: CZ82 (#34)
the route I traveled to become a responsible human
#38. To: CZ82 (#36)
If you would be so kind as to inform me "which politicians" want to do the right thing for this country instead of looking out for their own wallet then we'll both know...
#39. To: TooConservative, Pericles (#31)
Then there are the tourist spots mostly along the coasts where we often import foreign teenagers to work resorts and beach concession stands and so on. They allow in tens of thousands of foreigners to do this work. So it isn't just illegals, it's also foreigners with a legal job. Probably some of them then overstay their visa as we do know that a large portion of the "illegals" are people who overstayed a lawful student visa or work visa.
“Let me see which pig "DON'T" I want to vote for, the one with or without lipstick??" Hmmmmm...
#40. To: sneakypete (#28)
n any case, cities that have a high cost in housing should adopt socialist measures and build low cost community housing that will allow minimum wage workers to afford care.
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