- Joined
- Apr 10, 2003
- Messages
- 1,319
- Reaction score
- 27
Shouldn't be much of a surprise to the War Room, Dan Price, the CEO of Seattle-based Gravity Payments raised the minimum salary for employees of his company to $70,000 while taking a pay cut of $930,000 himself, seems to be in a bit of trouble about 3 months into this experiment.
The company lost two of his most valuable employees, Price's brother and co-founder of the company, Lucas Price, has filed a lawsuit against the company. The CEO also has to rent out his house just to help cover his own bills.
For the time being, the minimum salary of $70,0000 is still in effect, but how long Gravity Payments can remain operational is anyone's guess.
http://dailycaller.com/2015/08/02/ceo-who-raised-minimum-salary-to-70k-falls-on-hard-times/
The company lost two of his most valuable employees, Price's brother and co-founder of the company, Lucas Price, has filed a lawsuit against the company. The CEO also has to rent out his house just to help cover his own bills.
For the time being, the minimum salary of $70,0000 is still in effect, but how long Gravity Payments can remain operational is anyone's guess.
http://dailycaller.com/2015/08/02/ceo-who-raised-minimum-salary-to-70k-falls-on-hard-times/