Typically leftists are insulated from the consequences of their bad ideas by a nice cushion of money, but Dan Price cut it a bit too close. Price is the CEO of Gravity Payments and his company has learned what goes up may come down — hard.
Back in April, Price announced to the world that he was raising the minimum wage for his staff of 120 to $70,000 a year. Price told The New York Times he intended to get the money by cutting his $1.1 million salary and using up to 80 percent of the company’s projected $2.2 million profit.
Blowing all the profit for salaries, with almost nothing left for investment or contingencies, would qualify Price to challenge Hillary for the nomination, but it looks like his plate is full at home.
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