- Jul 20, 2009
- 64,968
- 196,213
Dude is already rich doe.
Seattle CEO to cut his pay so every worker earns $70,000
Dude is already rich doe.
- Jan 22, 2015
- 9,995
- 3,286
This country would be much better if they capped everyone at 70k a year
ben roethlisberger
Banned
- Apr 19, 2009
- 2,676
- 1,334
Repped.
- Jan 5, 2004
- 16,379
- 5,098
Sounds like communism to me...
- Sep 10, 2005
- 9,253
- 3,007
The fact that he had to cut his salary to give out raises shows the company isn't doing to well. So he's decided to go the PR route to drum up some new business. But it won't last long, and the company will shutter. And all.those employees will lose their jobs.
He's doomed them all. I'd rather make a fair salary at a stable job, then make more than I'm worth for a finite amount of time.
He's doomed them all. I'd rather make a fair salary at a stable job, then make more than I'm worth for a finite amount of time.
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- Jan 20, 2002
- 54,340
- 31,909
that's what i am thinking
but still, good for him to put money in his employees regardless
bravelude
Banned
- Dec 29, 2013
- 7,573
- 1,115
u dont run things that loose. unlimited paid PTOs? thats like grant hill n d.rose.
fontaine
Banned
- Jul 5, 2013
- 8,053
- 6,535
Or maybe his shares of the company are doing so well, he doesn't mind cutting his salary for the PR stunt because his equity is off the charts.
Stop being a negative Ned, bruh...
- Sep 10, 2005
- 9,253
- 3,007
What shares? It's not a publically traded company. And he clearly states in the article that he doesn't know how he's gonna cover the loss on profits from this move. He just knows he won't raise rates on his customers.
Poorly thought out publicity stunt.
And also, that lady who said "I'm going to buy a house." is the perfect example of the poor financial decisions that people make when they get unexpected money. Later down the line she'll be telling her sob story about how she lost her job and can't afford to pay her mortgage
Poorly thought out publicity stunt.
And also, that lady who said "I'm going to buy a house." is the perfect example of the poor financial decisions that people make when they get unexpected money. Later down the line she'll be telling her sob story about how she lost her job and can't afford to pay her mortgage
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- Jul 29, 2001
- 20,773
- 10,854
It's all a PR ploy. The good publicity lands him a bunch of new clients. Based on what I've heard it's a churn and burn shop. You don't even work there a year, but you build up a client base, then they get rid of you. Yeah, there are some long term employees, but there's incredibly high turnover. most of the people working there won't see that $70,000 salary.
- Apr 15, 2013
- 4,276
- 1,605
Precisely.
- Feb 25, 2010
- 24,952
- 23,299
- Feb 17, 2011
- 10,991
- 9,411
bout to send that link to my boss...
- Sep 20, 2014
- 15,721
- 22,343
It's not.
- Jul 20, 2009
- 64,968
- 196,213
Pure conjecture that you're pulling out your cheeks
The company seems to be doing quite well
-Dude said that the pay raises would cut the companies profits in half. So they have the money
-Word is the firm is the biggest payment processor in the State
-And they were doing well enough to warrant him having a 1 million dollar a year salary. For a firm with just over 100 people, that is quite impressive.
This is not the first time he has given company wide pay raises, and this pay bump will be gradual.
Plus this guy started the company at 19, became a millionaire in his 20s, has been honored by the President, and was on the cover of Entrepreneurship magazine. But somehow, you're certain you know more about his company that he does.
-Maybe the fact he is willing to take risk like this, and you're not, is the reason ole boy is a highly regarded millionaire Entrepreneur, and you're not. Just saying
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fontaine
Banned
- Jul 5, 2013
- 8,053
- 6,535
sooooo...What shares? It's not a publically traded company. And he clearly states in the article that he doesn't know how he's gonna cover the loss on profits from this move. He just knows he won't raise rates on his customers.
Poorly thought out publicity stunt.
And also, that lady who said "I'm going to buy a house." is the perfect example of the poor financial decisions that people make when they get unexpected money. Later down the line she'll be telling her sob story about how she lost her job and can't afford to pay her mortgage
Because it's not public...
You can't have shares in the company...?
- Jul 20, 2009
- 64,968
- 196,213
But ummmmmmmmm increasing pay is one of the ways to fight a high turnover rate
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- Nov 2, 2006
- 15,448
- 16,780
thats what I call a real *****
- Jul 20, 2009
- 64,968
- 196,213
What shares? It's not a publically traded company. And he clearly states in the article that he doesn't know how he's gonna cover the loss on profits from this move. He just knows he won't raise rates on his customers.
View media item 1292649
sonoftony
Supporter
- Apr 3, 2005
- 29,226
- 23,408
the CEO of the company I work for wouldnt take a $1000 paycut, cheap bastard
- Sep 10, 2005
- 9,253
- 3,007
If the company was publically traded that would be the only way to know how many shares he had, if any. And what there valuation would be. The equity argument holds no water. Too many unknowns.
I'm basing every I've said on the article. Sure he's a successful guy and a risk taker. But the fact still remains that he's steered his company into rough waters and chances of success are minimal. But hey, if he makes. Congrats. But I highly doubt it.
I'm basing every I've said on the article. Sure he's a successful guy and a risk taker. But the fact still remains that he's steered his company into rough waters and chances of success are minimal. But hey, if he makes. Congrats. But I highly doubt it.
- Jul 29, 2001
- 20,773
- 10,854
Did you even read what I wrote? The company is dumping the employees.
I'm pretty sure the incentive is to keep the job now that it's a desirable position.
Mr Dink
formerly foamposite xi
- Oct 8, 2012
- 12,110
- 10,340
Pretty much. Once he gives his employees that kind of a raise, he'll have no choice but to stick with it. So, what's going to happen once people start coming through his doors and he'll no longer want to pay his employees at their higher rate? Only other choice is to lay them off.
- Jun 1, 2013
- 8,715
- 5,390
What a guy!
Wall street take note!
Wall street take note!
