thereisnospoon
Gold Member
Read the entire cnbc.com account.and this story on cnbc.com is contrary to the story in the Times...Yeah well that didnt work out quite like he wanted. Turns out you can't pay everyone the same because not everyone performs the same. Oops. Not like we didnt tell you. Now he has to rent out his house to make ends meet. Socialism fails 100% of the time. more at the source.
Remember the Seattle CEO Who Raised All Salaries to 70K Here s What Happened Next...
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.
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Your view is a glass half empty.
What a Con! Get a grip on your paranoia.
The glass is actually half full and getting fuller:
"Three months before the announcement, the firm had been adding 200 clients a month. In June, 350 signed up."
Your source is a Con job. Try this more balanced piece:
http://nytimes.com/2015/08/02/busin...-against-the-raise-that-roared.html?referrer=
Fact is other business people are going as far as saying rthis is bad for business and will not work....
This has been nothing but a political stunt.....
A Company Copes With Backlash Against the Raise That Roared
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Re: "this story on cnbc.com is contrary to the story in the Times."
Huh? Did you read both?
Except for the last 2 sentences in the CNBC piece & imbedded video, both stories are the same, by the same author Patricia Cohen.
The CNBC print even cites NY Times!
Anyway. it's pointless. The experiment is a failure.
Price had to move out of his house and rent it out. His brother is suing him.
This is nothing more than a political stunt.
And it is also proof that the marketplace dictates prices. For everything. Including labor.