Dan Price read an article stating that about $75,000 per year is all of an income it takes to be happy, everything above that was just for fun. With that advice the founder of Gravity Payments made a commitment to pull all of his employees up to a minimum wage of $70,000 per year and he’s doing it because he wants to, not because he’s being made to.
If it’s a publicity stunt, it’s a costly one. Mr. Price, who started the Seattle-based credit-card payment processing firm in 2004 at the age of 19, said he would pay for the wage increases by cutting his own salary from nearly $1 million to $70,000 and using 75 to 80 percent of the company’s anticipated $2.2 million in profit this year.
via One Company’s New Minimum Wage: $70,000 a Year – NYTimes.com.
I applaud this man. I really do. He’s making a sacrifice, that he is convinced isn’t really a sacrifice, to make sure his employees are happy and, if the article he read is correct, you can’t be happy unless you are making about $75,000 per year.
The story is a really good one. I hope you follow the link.
I think it is very likely that unions would still be viewed in a positive light if it weren’t for things like this.
Chrysler has reinstated more than a dozen Jefferson North assembly line workers who were filmed drinking and smoking pot during their breaks.
via Chrysler Workers Drinking: Fired Employees Reinstated At Jefferson North Plant In Detroit.
A news crew filmed over a dozen Chrysler workers drinking and smoking dope on their break. Chrysler fired them, the union filed a grievance in their behalf and an arbitrator told Chrysler to rehire them.
I have no problem with people drinking and smoking dope on their own time as long as they aren’t endangering me or anyone else. I do have a problem with them stepping out for a break from work and coming back intoxicated or stoned. I especially have a problem with them doing this in a manufacturing environment. It is a way to get people killed.
That’s why I’m very disappointed in the union for defending this type of behavior. I think I’m not alone in this and I think this is but one example of why Michigan is about to become a right to work state.
This is why record profits by the oil companies isn’t something I’m perturbed about. The $100M is only a drop in the bucket compared to the loss of revenues. Somedays you get the gold mine other days you get the shaft.
China and Viet Nam are being accused of dumping shrimp in the US and the US is about to impose some awful large tariffs on these countries’ exports of shrimp. I guess I can kiss cheap shrimp goodbye.
Of course this source is from a Chinese news source so I can expect a little bias toward the Chinese from it but it sounds an awful lot like the Chinese have a point.
An official from the Chinese Shrimp Industry Alliance, an organization established specially because of the dumping charges, said Chinese shrimp producers were able to sell at prices far lower than American shrimp producers because they had invested in modern technology for their shrimp farms and had lower labour costs.
“We are simply more efficient than the US industry, which mostly harvests shrimp from the sea,” he said.
Ewww, I hate hearing those words that another country may be technologically superior to the US but it’s most likely true. That’s the problem with govenrment subsidies they tend to dry up all the reasons for applying technology to a problem.