BOSS RAISES EVERYONE'S SALARY TO $70,000/YEAR

The founder of a Seattle-based credit card processing company announced that he will take a large salary cut so he can increase the pay for each employee to at least $70,000 a year. The New York Times reported that Dan Price, the head of Gravity Payments, told his 120-person staff about the plan after talking to friends about the difficulties of making $40,000 a year. Price said he will cut his nearly $1 million salary to $70,000 and use about 80 percent of the business’ anticipated profit to increase the salary of about 70 employees. About 30 employees, including the lowest-paid clerk, will see their salaries increase to the $70,000 threshold. The workers reportedly clapped and cheered when he made the announcement at the Seattle office.
* I’ll pause while you find this story online and print it out to put on your boss’s desk.
* Great story. But let’s check back in a year and see where the company stands.
* It’d also be more heartwarming if the company made something instead of just existing on credit card debt.
* Wait, he was only making a million? How can he look other CEOs in the eye when he’s only making that much?
* He has friends who only make $40,000? So he’s friends with his gardener?
* Gravity Payments. Sounds vaguely threatening, doesn’t it?
* Now if they can only get Seattle’s Paul Allen to read this story.
* Or how about Sam Walton’s billionaire kids – the ones who own Walmart?