A “Feel Good” news story … for a change.
This is Dan Price, CEO of Gravity Payments in Seattle, Washington. He and his brother Lucas founded the business in 2004 “providing merchant processing services”. I have no idea what that actually means but I love the fact that, as CEO, Dan made a bold decision that will affect the well being of his 120-person staff.
He was disturbed by the fact that his executive salary was exorbitant compared to that of his employees and he decided to do something about it. "I want to be a part of the solution to inequality in this country, and so if corporate America also wants to be a part of that solution, that would make me really happy," Price said.
His idea became reality this past week when he made the amazing announcement to his employees that he planned, over the next three years, to raise each and every one of their salaries to a minimum of $70,000.
I doubt very much if corporate America will follow his lead but I hope it makes those companies quibbling over a $15 per hour minimum wage think twice !
posted by Ginnie at 5:00 PM
4 Comments:
This is very un-American ;)
What an amazing young man. I am so impressed... but probably the other CEOs just consider him an idiot.
Well, bless him for he has certainly blessed others.
A fair day's wage for a fair day's pay? I wonder what his employees do? Does it require advanced education? Is he paying the going rate for people who do those jobs?
To keep his workers in his small business afloat in this dismal economy, my 60-year old SIL cashed in $20,000 of his 401k, infused the money into his company, paid his workers and had foregone a salary the past four months. The accountant he works with says he sees small businesses going under all over this area. Wher government is big. Not a good time to give pay raises I think.
What he did was really great. I applaud him for thinking of his workers and for not being greedy.
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