GFY Socialists...CEO Dan Price Is Now In Financial Trouble. lol

[Robbie]

Remember a few months back when CEO Dan Price made the "minimum wage" at his company $70,000 and the **********s and crocketts of GFY all praised him for being such a great businessman?

Well, he has now lost two of his top employees who are unhappy that people with less skills got HUGE pay raises instantly, while long time employees with skills got no pay raise.

AND...since he cut his own CEO salary in order to do this dumb move...he now is being forced to rent his house out to make ends meet.

What a dumbass. And what a group of dumbasses who were on GFY applauding a move that made no real sense in the first place.

CEO raises minimum wage to $70,000 a year, and some employees aren't happy about it - Business Insider

Dan Price who made minimum salary $70,000 for all at Gravity Payments has run into trouble | Metro News

[MrDeiz]

the guys needs to start with some math classes, once succeeds get to basic economy ones

[MetaMan]

"Now the people who were just clocking in and out were making the same as me," he tells The Times. "It shackles high performers to less motivated team members."

IM SHOCKED!

I cant stand socialist idiots.

[Robbie]

It just blows my mind that anyone would have ever thought it was a good idea to begin with.

It's like common sense has no place in our society anymore.

[poncabare]

fucking retard

[Sly]

When a company runs a round of layoffs to save money, it's the good employees that bolt first. Good employees are not stupid. Do not disrespect the good employees, they carry the weight of the bad and chalk it up as a cost of life.

[MrDeiz]

Originally Posted by Robbie

It's like common sense has no place in our society anymore.

It does not in some part of society.
Overall things seem to be quite good

[JFK]

Originally Posted by MetaMan

"Now the people who were just clocking in and out were making the same as me," he tells The Times. "It shackles high performers to less motivated team members."

IM SHOCKED!

I cant stand socialist idiots.

[Dvae]

He did the right thing. CEO's should not make more than their lowliest employee.

[Cherry7]

As usual the ignorant show their ignorance about socialism.

No where in socialist theory or practice does it talk about all receiving the same wage.

In the soviet union and other eastern European countries people were paid different wages.

Miners getting the highest pay, higher than teachers or even university professors, shop workers and peasant being more modestly paid. The range of payment was small so there were no very rich or poor.



In a higher phase of communist society, after the enslaving subordination of the individual to the division of labor, and therewith also the antithesis between mental and physical labor, has vanished; after labor has become not only a means of life but life's prime want; after the productive forces have also increased with the all-around development of the individual, and all the springs of co-operative wealth flow more abundantly?only then can the narrow horizon of bourgeois right be crossed in its entirety and society inscribe on its banners: From each according to his ability, to each according to his needs!

Karl Marx

[Dvae]

Originally Posted by Cherry7

As usual the ignorant show their ignorance about socialism.

No where in socialist theory or practice does it talk about all receiving the same wage.

In the soviet union and other eastern European countries people were paid different wages.

Miners getting the highest pay, higher than teachers or even university professors, shop workers and peasant being more modestly paid. The range of payment was small so there were no very rich or poor.

[Cherry7]

Funny, you don't even understand what money is.

Of course Thatcher just married into money and power.

[TheSquealer]

Originally Posted by Cherry7

Funny, you don't even understand what money is.

Of course Thatcher just married into money and power.

your views (failed ideologies) are extreme and naive. by definition, that means you have a problem with how you understand the world.... not everyone else as you are well outside the norm.

[Dvae]

Originally Posted by Cherry7

Funny, you don't even understand what money is.

Of course Thatcher just married into money and power.

Shouldn't you be hanging out on a communist forum somewhere?

[MaDalton]

oh noes, the resident GFY communist is back

[Barry-xlovecam]

Hate to break it to you but anyone making less than $70K a year in the USA possesses low level work skills, or little practical experience, or a low educational level or a combination of the aforementioned.

$70K a year is 40% above the national average.

[Jel]

only thing I'm surprised about (well I guess I'm not really) is the fact people are concerned with what someone else is making. If I think I'm worth, and getting paid, 70k a year, why would I give a fuck what someone else is or isn't earning, and whether they are worth their wages?

[tony286]

Originally Posted by Robbie

Remember a few months back when CEO Dan Price made the "minimum wage" at his company $70,000 and the **********s and crocketts of GFY all praised him for being such a great businessman?

Well, he has now lost two of his top employees who are unhappy that people with less skills got HUGE pay raises instantly, while long time employees with skills got no pay raise.

AND...since he cut his own CEO salary in order to do this dumb move...he now is being forced to rent his house out to make ends meet.

What a dumbass. And what a group of dumbasses who were on GFY applauding a move that made no real sense in the first place.

CEO raises minimum wage to $70,000 a year, and some employees aren't happy about it - Business Insider

Dan Price who made minimum salary $70,000 for all at Gravity Payments has run into trouble | Metro News

well thats a bunch of bullshit.
Went to the ny times article where they said he is renting out his home. Cant find anything about him renting out his home anywhere in the article. But it does talk about how they got a bunch of new business because if the action.

[Sly]

Originally Posted by tony286

well thats a bunch of bullshit.
Went to the ny times article where they said he is renting out his home. Cant find anything about him renting out his home anywhere in the article. But it does talk about how they got a bunch of new business because if the action.

Multiple sources: https://www.google.com/webhp?sourcei...e+renting+home

[tony286]

Originally Posted by Sly

Multiple sources: https://www.google.com/webhp?sourcei...e+renting+home

couldnt find Im renting out my home in the nyt article , didnt watch the video. Oh well lol

[MetaMan]

Originally Posted by Jel

only thing I'm surprised about (well I guess I'm not really) is the fact people are concerned with what someone else is making. If I think I'm worth, and getting paid, 70k a year, why would I give a fuck what someone else is or isn't earning, and whether they are worth their wages?

Well the entire point of the article is that the "higher-ups" believed they were worth more. They put in more work, more dedication, probably in the hopes in the future being paid for their loyalty.

But in the end it went to people with less skills who by the article were there to just punch in and punch out.

If you don't find a flaw in overstepping the people that matter the most in your company and rewarding the people who work less and aren't as valuable I believe you will have a problem running a successful business.

[djroof]

poor guy...

[dyna mo]

seinfeld covered this.

[TheSquealer]

Originally Posted by tony286

couldnt find Im renting out my home in the nyt article , didnt watch the video. Oh well lol

you couldn't find the top Google result? you couldn't hit "ctrl + f" and type in "rent" with that page open?

How interesting that you work online all day long and suddenly perform at the level of a retarded chimpanzee when looking things up in google, if its a mater of having to find something that challenges everything you believe in life about labor and salaries and management and job performance.

[The Porn Nerd]

Listen, I've learned that human beings need motivation to do anything, otherwise left to our own devices some of us will end up lazy, dumb fucks always looking for the path of least resistance. While others (like myself and many posting in this thread ) are 'self-motivaters' so we rock all the time, always looking for improvement.

But bottom line, whichever type of human you are, you still need to be motivated. Making more $ is real good motivation. Take that away (or give it without effort) and you end up with a real mess.

[dyna mo]

that's one big massive business blunder. i feel for the guy. i wonder if it's recoverable. he'd have to fire the $70k mail room clerks and start fresh with a bunch of new employees. harsh. it seems like he's a smart enough fellow, but to not realize the backlash that his key employees would have is a big oversight.

[TheSquealer]

Originally Posted by dyna mo

that's one big massive business blunder. i feel for the guy. i wonder if it's recoverable. he'd have to fire the $70k mail room clerks and start fresh with a bunch of new employees. harsh. it seems like he's a smart enough fellow, but to not realize the backlash that his key employees would have is a big oversight.

I look at it like this... he'll always be that guy who is noble and just and compassionate as a leader. He'll always have those magazine and newspaper articles and covers framed on his wall behind him carrying more weight than 10 Ivy League degrees in the eyes of many. He'll always be that guy that "cares" about his workers more than profits. He'll always find some board of hippy dipshits to hire him.

He borrowed against his own company to buy fame and a future with company funds and his own employees cheered him on as the company faced certain doom as a direct result.

If you think about it... thats actually a pretty neat trick... and a great investment of other peoples money to secure ones own future.

[Jel]

Originally Posted by MetaMan

Well the entire point of the article is that the "higher-ups" believed they were worth more. They put in more work, more dedication, probably in the hopes in the future being paid for their loyalty.

But in the end it went to people with less skills who by the article were there to just punch in and punch out.

If you don't find a flaw in overstepping the people that matter the most in your company and rewarding the people who work less and aren't as valuable I believe you will have a problem running a successful business.

Way to twist what I actually said - kudos on your trolling

[JJ Gold]

They laws of nature always apply. Commies often forget this.

This jamoke just learned an expensive lesson in reality. I hope he can stop his bleeding heart before it kills him.

[dyna mo]

Originally Posted by TheSquealer

I look at it like this... he'll always be that guy who is noble and just and compassionate as a leader. He'll always have those magazine and newspaper articles and covers framed on his wall behind him carrying more weight than 10 Ivy League degrees in the eyes of many. He'll always be that guy that "cares" about his workers more than profits. He'll always find some board of hippy dipshits to hire him.

He borrowed against his own company to buy fame and a future with company funds and his own employees cheered him on as the company faced certain doom as a direct result.

If you think about it... thats actually a pretty neat trick... and a great investment of other peoples money to secure ones own future.

seems like a big sacrifice, throwing the baby out with the bath water kind of move though. from the tidbits i gathered, it seemed like his business/business model was on track. if it were going in the wrong direction, i agree, a brilliant exit strategy. on the other hand, maybe i'm giving him too much credit, paying himself a million a year on a start-up venture is a massive red flag. this guy is all over the place!

[tony286]

He is renting a room in his house. This guy went from a million to 70k, so I can see money being tight. They had 225 clients before and now they have 350 clients. The law suits didnt help from his brother. I think he went over board but what gets me is on a board where money is made from consumer sales. People not wanting people to get paid as much as possible, when you sell goods that higher wages means more money to spend baffles me really.

[Sly]

Originally Posted by tony286

He is renting a room in his house. This guy went from a million to 70k, so I can see money being tight. They had 225 clients before and now they have 350 clients. The law suits didnt help from his brother. I think he went over board but what gets me is on a board where money is made from consumer sales. People not wanting people to get paid as much as possible, when you sell goods that higher wages means more money spend baffles me really.

I never thought you would be a proponent for trickle-down economics.

[TheSquealer]

Originally Posted by tony286

He is renting a room in his house. This guy went from a million to 70k, so I can see money being tight. They had 225 clients before and now they have 350 clients. The law suits didnt help from his brother. I think he went over board but what gets me is on a board where money is made from consumer sales. People not wanting people to get paid as much as possible, when you sell goods that higher wages means more money to spend baffles me really.

Yeah, you're clearly baffled. Your idea is to radically raise production costs, therefore raising costs to consumers.... so that consumers can then purchase more of the more expensive finished goods.

Wow

[tony286]

Originally Posted by Sly

I never thought you would be a proponent for trickle-down economics.

its actually trickle up.

[tony286]

Originally Posted by TheSquealer

Yeah, you're clearly baffled. Your idea is to radically raise production costs, therefore raising costs to consumers.... so that consumers can then purchase more finished goods.

Wow

Read what I wrote again "I think he went overboard". The fact is Wages have raised the smallest percentage in 33 yrs was reported last week. In a consumer based economy if no one has money to spend. The economy goes down the toilet.

[ruff]

So the janitor did not quit in solidarity with his enriched superiors? I smell no socialism here. The two employees that quit did not quit because of principles, they must have had better paying jobs lined up. Nobody quits a good paying job on principle. That's just bullshit. That said, this guy is an idiot businessman.

[TheSquealer]

Originally Posted by tony286

Read what I wrote again "I think he went overboard". The fact is Wages have raised the smallest percentage in 33 yrs was reported last week. In a consumer based economy if no one has money to spend. The economy goes down the toilet.

Where do waged come from? The sky? Unicorn tears? They come from the sale of goods and services. Higher wages, means higher production costs of goods and services. Pay people more but make everything more expensive isn't a great policy for what should be obvious reasons. Discretionary income doesn't increase when the cost of everything increases with it.

[Jel]

Originally Posted by TheSquealer

Where do waged come from? The sky? Unicorn tears? They come from the sale of goods and services. Higher wages, means higher production costs of goods and services. Pay people more but make everything more expensive isn't a great policy for what should be obvious reasons. Discretionary income doesn't increase when the cost of everything increases with it.

I didn't take a keen interest in the details as I'm in the 'what a dick he is' category, but weren't the wages increases from cutting his own $1m down to 70k? Not sure how many employees there were/are and some went from eg 45k to 70k, but I thought that was how he financed the initial increase, rather than consumer cost (for now).

If you just mean in general, ignore this post

[tony286]

Originally Posted by TheSquealer

Where do waged come from? The sky? Unicorn tears? They come from the sale of goods and services. Higher wages, means higher production costs of goods and services. Pay people more but make everything more expensive isn't a great policy for what should be obvious reasons. Discretionary income doesn't increase when the cost of everything increases with it.

Not true, if it was then why are new clients fees who are joining gravity are much more affordable than what they were paying prior to signing up with them?
"There have been other ripples. Mario Zahariev, who runs Pop's Pizza & Pasta, switched to Gravity after seeing Mr. Price on the news. When he learned his monthly processing fees would drop to $900 from $1,700, Mr. Zahariev decided, "I was not going to keep the difference for myself." He used the savings to raise the salaries of his eight employees."

[tony286]

Originally Posted by Jel

I didn't take a keen interest in the details as I'm in the 'what a dick he is' category, but weren't the wages increases from cutting his own $1m down to 70k? Not sure how many employees there were/are and some went from eg 45k to 70k, but I thought that was how he financed the initial increase, rather than consumer cost (for now).

If you just mean in general, ignore this post

also its over 3 yrs. its not like today you make 35,tomorrow you make 70. They do 6.5 billion in processing a year and since he did this business is exploding.

[TheSquealer]

Originally Posted by tony286

Not true, if it was then why are new clients fees who are joining gravity are much more affordable than what they were paying prior to signing up with them?
"There have been other ripples. Mario Zahariev, who runs Pop's Pizza & Pasta, switched to Gravity after seeing Mr. Price on the news. When he learned his monthly processing fees would drop to $900 from $1,700, Mr. Zahariev decided, "I was not going to keep the difference for myself." He used the savings to raise the salaries of his eight employees."

You are arguing agains many millennia of commerce with what you feel are extremely rare exceptions (and likely misrepresented) to the rule. It's a bit like torture. If it's been going on since before the dawn of civilization to extract vital information from enemies, it's not because it "doesn't work".

[MetaMan]

Originally Posted by Jel

Way to twist what I actually said - kudos on your trolling

Im actually not trying to troll you. What you said is that why would someone care what others are making. And i provided valid points. That's all.

[TheSquealer]

Originally Posted by Jel

I didn't take a keen interest in the details as I'm in the 'what a dick he is' category, but weren't the wages increases from cutting his own $1m down to 70k? Not sure how many employees there were/are and some went from eg 45k to 70k, but I thought that was how he financed the initial increase, rather than consumer cost (for now).

If you just mean in general, ignore this post

It doesn't matter. No one knows the facts and no one is arguing the facts. This is gfy. The stately is "guy pays everyone 70k a year" and everyone likes up to examine why that's fair and why everyone should be paid more than the value they represent to the company. Anyone that's ever hire and fired and employed a lot of people knows full well that you pay people their value. Paying them more than they are worth is a busted when you can hire a new Persian of value.

Tony was a life long Union auto worker... To him all companies are greedy, management is selfish and evil and no one ever gets what they're worth. Had he ever actually ran a successful business... Instead of spending his time planning his next Union grievance, , he'd see things in a very different way.

That said, we need the Tomys of the world. Someone has to stand their and run that big metal press. And if he didn't have his mindset - he wouldn't have been there to do it. It's obviously not going to be done by the guy who feels that life is full of nothing but opportunity and potential for growth. It's going to be done by the guy that thinks an unfair life and unfair greedy companies put him there and keeps him here and give him no chance to succeed.

[ClaireMonroe]

Originally Posted by MetaMan

"Now the people who were just clocking in and out were making the same as me," he tells The Times. "It shackles high performers to less motivated team members."

IM SHOCKED!

I cant stand socialist idiots.

I don't like them either, but I think most of them are even smart enough to know this stupidity would fail real fast. They like to steal your money slowly.

[ClaireMonroe]

Some people just aren't worth $70K. Why do people think they can just stomp their feet and get paid as much as everyone else? It doesn't just take hard work to succeed, it takes good work to succeed. Force people to want to do better.

This is why you don't want to spoil your kids. The people who grew up in poor families or stingy families with money who didn't have a lot growing up sometimes work their asses off because they say it will never happen to their kids then they spoil their kids and those kids get an entitlement attitude. Then the next generation is just as spoiled and minimum wage has to go up again because they kick and scream like the kids on peanuts because they're not getting their fair share.

Minimum wage is an entry level wage. Use it to go to school and save for your first home. Have 3 jobs and work hard while learning a skill.

Or hey, why don't we just all split everyone's revenue here and we all get the same amount. Then no one really has to do much of anything. Everyone will get paid $10 an hour. Blech.

[ClaireMonroe]

Originally Posted by ClaireMonroe

I don't like them either, but I think most of them are even smart enough to know this stupidity would fail real fast. They like to steal your money slowly.

bummer i can't edit this. i meant i don't like "socialist ideas" either. socialist people can be ok, they're just wrong.

[Dvae]

Originally Posted by ClaireMonroe

bummer i can't edit this. i meant i don't like "socialist ideas" either. socialist people can be ok, they're just wrong.

Are you afraid you offended the socialist/communist scum?

[Jel]

Originally Posted by MetaMan

Im actually not trying to troll you. What you said is that why would someone care what others are making. And i provided valid points. That's all.

and tried to score points because you couldn't grasp my finer point. I see.

We're cool then.

[The Porn Nerd]

It's really about balance, an equal mix of rich, poor, losers/winners, good people/assholes, etc. That's life. No one way works or, you know, it would be working. LOL

The guy tried something new. Is it working? I'd say no AND yes. What a situation tho.

[Rob]

I try to "debate" with idiot business owners all the time about overpaying employees, and I hear the same empty rhetoric: It will raise morale, they'll work harder, blah blah blah. I'm telling you based on education AND experience; IT DOESN'T WORK THAT WAY. Yeah, it sounds great on paper, but once applied, it almost always fails. I know it's not the same, but that's also one of the reasons I'm against raising minimum wage. It will be this but on a much larger scale.