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$70,000 salary CEO is doing just fine

Discussion in 'Current Events' started by sun rise, Apr 14, 2021.

  1. sun rise

    sun rise "This is the Hour of God"
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    In spite of being called a socialist and the predictions that the CEO was headed to ruin by lowering his salary to $70k and raising his employees salary to $70k, he's doing just fine: Isn't it amazing what can happen when the boss is not greedy and treats his employees very well:

    Since our $70k min wage was announced 6 years ago today:
    *Our revenue tripled
    *Head count grew 70%
    *Customer base doubled
    *Babies had by staff grew 10x
    *70% of employees paid down debt
    *Homes bought by employees grew 10x
    *401(k) contributions grew 155%
    *Turnover dropped in half
    ...
    Treating employees well saves money in the long run.

    For example, our small biz with a $70k min wage received 3,663 job applications this year – 280 per opening.

    We paid $0 advertising and got great candidates.

    I keep seeing stories of companies struggling to hire. Wonder why.

    — Dan Price (@DanPriceSeattle) April 12, 2021
     
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  2. We Never Know

    We Never Know Well-Known Member

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    The company is Gravity Payments

    CEO Who Took a $1M Salary Cut to Pay Employees $70k Is Thriving
     
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  3. Twilight Hue

    Twilight Hue The gentle embrace of twilight has become my guide

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    Sadly, don't expect it to be the norm. Most CEOs don't give a **** about anyone except for themselves.
     
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  4. Thief

    Thief Rogue Theologian

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    I wonder....would the nice guy be interested in expanding his pursuits in MY home town?
     
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  5. Twilight Hue

    Twilight Hue The gentle embrace of twilight has become my guide

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    Just goes to show you what people can do when they are made to feel worthy and needed.

    They are likely the most loyal work staff staff in the nation lead by a CEO that put company first rather than parasitic wage gouging and leaving a dead company to rot after draining it dry.
     
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  6. Stevicus

    Stevicus Veteran Member
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    From the article:

     
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  7. Twilight Hue

    Twilight Hue The gentle embrace of twilight has become my guide

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    I don't know what socialism has to do with the company Itself. It's not like the employees are being strictly controlled and monitored as if they need their hands held and directed every step of the way.
     
  8. Stevicus

    Stevicus Veteran Member
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    If employees being strictly controlled and monitored defines socialism, then I would say most U.S. companies are socialist.
     
  9. Twilight Hue

    Twilight Hue The gentle embrace of twilight has become my guide

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    I would even go so far as to say companies are almost Communist while on grounds and the workplace.

    Good point.
     
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  10. sun rise

    sun rise "This is the Hour of God"
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    "socialism" is a "swear" word that the right uses for anyone they don't like.
     
  11. Twilight Hue

    Twilight Hue The gentle embrace of twilight has become my guide

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    I relate socialism on how these systems inevitably control people in every regard as to what one should say, what one should do, and what they can and cannot do with their personal property.
     
  12. Revoltingest

    Revoltingest I have the kavorka
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    And it's high praise by the left for anything they like.

    The left & the right....neither uses a dictionary definition
    of "socialism", but despite fervent feces flinging at each
    other, they actually use the same personal definition, one
    that includes public roads, public schools, welfare, etc.
    So odd...they both call capitalist countries like Denmark
    "socialist".
     
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  13. Kooky

    Kooky Freedom from Sanity

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    It's always so convenient to use labels like "the left" or "the right". That way, we don't need to provide real evidence that would have to refer to factual talking points espoused by factually existing people from real life, and can instead start erecting strawmen and fictional adversaries with gusto!

    Don't you think so, too?
     
  14. Revoltingest

    Revoltingest I have the kavorka
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    I responded to a particular post, & adopted his context.
    Yes, that is indeed convenient. I'm pretty sure he knew
    what I meant, some possible disagreement notwithstanding.
    I don't see a clear specific point being made.
    FYI, eschewing straw men (& women) is good.
     
    #14 Revoltingest, Apr 15, 2021
    Last edited: Apr 15, 2021
  15. Revoltingest

    Revoltingest I have the kavorka
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    $70K/year is a pretty crappy salary for a family unless one
    is already wealthy, eg, home is unencumbered by loans,
    kid's college education paid for, no spendy vacation needs.
     
  16. Kooky

    Kooky Freedom from Sanity

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    It's above the 2019 median household income in the United States, i.e. more than half of all American households make less than that.

    Average (median) household income 1990-2018 | Statista
     
  17. Revoltingest

    Revoltingest I have the kavorka
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    I wouldn't expect someone running a good sized company to
    earn so little. If this one chooses to, that's their prerogative.
    But don't expect many to expend much work & talent to
    get so little in return.
     
  18. Kooky

    Kooky Freedom from Sanity

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    He is earning more than an entire above-average income household.

    Yet, curiously, American business owners expect just that of more than half of America's adult population.

    (edit: phrasing)
     
  19. Revoltingest

    Revoltingest I have the kavorka
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    That's the less productive half.
    Business should reward drive, talent, & success most.
    Not merely showing up to punch a timeclock.
     
  20. Stevicus

    Stevicus Veteran Member
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    Isn't that pretty subjective? How do you determine who has more drive, talent, and success, and how does one determine an adequate reward for such? Is there a mathematical formula one can cite? Is there objective scientific data one can examine?
     
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