Company min paid worker to make $70,000

[tj119]

http://mobile.nytimes.com/2015/04/14...html?referrer=

This is about the dumbest thing I have ever read. As a business owner myself I pity this man, will be sad to see his company has tanked 5 years from now. Sure this will make people's financial lives easier, but this will not breed harder workers...instead the lazy will continue to be lazy and get paid more. How bout having your employees work up and EARN that kind of money?

Thoughts ?

[Orange Joe]

http://mobile.nytimes.com/2015/04/14...html?referrer=

This is about the dumbest thing I have ever read. As a business owner myself I pity this man, will be sad to see his company has tanked 5 years from now. Sure this will make people's financial lives easier, but this will not breed harder workers...instead the lazy will continue to be lazy and get paid more. How bout having your employees work up and EARN that kind of money?

Thoughts ?

You make it seem like you can't fire a lazy person that isn't doing his job.



Good on him. I wish more would follow suit.

[wheresmywoft]

Wasn't this posted here yesterday?

http://www.mmo-champion.com/threads/...-year-min-wage

[Independent voter]

Be nice to look back in on the business in about five years time to see how they're doing. Other similar things I've seen tried are workers buying the company and issuing stock to themselves, etc.

[Sickjen]

He cut is own salary to do this, what a genuinely good person. Most people would never do that.

[Angrybutcher]

Well, with him cutting his own pay, that frees up $930,000. Those 30 people mentioned "effectively doubling their salary" is $1,050,000. The remaining 40 people it's hard to say. It could be ,$20k, $10k, it could be $5k. Taking an average of probably $10k per person, that's another $400,000. Effectively this is costing the company ~$500,000 above their expenses today. This is also being spread over 3 years, likely with the hopes that they grow their business to offset these costs. Based on his comments, he will probably cut his pay right away to free up that money, allowing him to give everyone a raise to eat up say $700,000 ($10k per person) without affecting earnings.

Continue to do that over 3 years, and this is easily attainable as long as they continue to grow.

[Beazy]

http://mobile.nytimes.com/2015/04/14...html?referrer=

This is about the dumbest thing I have ever read. As a business owner myself I pity this man, will be sad to see his company has tanked 5 years from now. Sure this will make people's financial lives easier, but this will not breed harder workers...instead the lazy will continue to be lazy and get paid more. How bout having your employees work up and EARN that kind of money?

Thoughts ?

Who are you to tell him what he should pay? As a business owner, he has the right to pay what ever he wants as long as he meeting minimum wage state requirements. Also, you don't seem to understand that high quality talent will see this company over paying for positions and so the applicants will be the best in the field.

[StayTuned]

He cut is own salary to do this, what a genuinely good person. Most people would never do that.

He's the future of managers I envision. I want to be just like him. You can have a healthy, functioning company that thrives and genuinely sticks together because you get rid of social barriers such as inequalities. I want my employees not just to follow my orders, but to see me as a leader who thinks of himself as one of them.

The salary plays a big role. I should not have 6 million € per year, but at the same time think about cutting employees. Cut your salary and support your employees throughout those times and come back stronger.

Or just never implement retard-ly high salaries from the beginning. You can still live extremely well and pay your employees above average salaries. If everyone did it, we'd have a new standard of living.

[AndaliteBandit]

Is this like how raising the minimum wage was supposed to hurt job growth, but now the states that have raised minimum wage are actually experiencing faster rates of job growth than the states that did not? Whoops.

[Fugus]

http://mobile.nytimes.com/2015/04/14...html?referrer=

This is about the dumbest thing I have ever read. As a business owner myself I pity this man, will be sad to see his company has tanked 5 years from now. Sure this will make people's financial lives easier, but this will not breed harder workers...instead the lazy will continue to be lazy and get paid more. How bout having your employees work up and EARN that kind of money?

Thoughts ?

Well, according to the inflation calculators, Henry Ford was paying his employees the equivalent of over $110 per hour and he didn't go under and actually thrived.

So who knows, maybe this could take off and actually do pretty good.

Still surprising to see people who think that actually paying decent wages would bankrupt everyone who tries to in this country, I swear, it is like people just lost all faith in the nation and believe that they can't do anything that many European countries have done without breaking us a nation or even doing what we ourselves have done in the past that led to better circumstances without breaking us now.

Single Payer Healthcare? Would break us as a nation even through it has been proven to work better than ours the world over and for cheaper.

Decent Wages? Would break us as a nation even through most of the first world offer better wages than us with better benefits. Even our own past did much better in this regard.

Seems like some people want to deny evidence and facts and instead believe in gloom and doom based on rhetoric and blind faith.

[Acelius]

I can't see a bad thing about a dude cutting his own salary to make others happy. We need more people like that. I'm sure his employees will feel highly motivated by this and work harder.

[StayTuned]

Is this like how raising the minimum wage was supposed to hurt job growth, but now the states that have raised minimum wage are actually experiencing faster rates of job growth than the states that did not? Whoops.

Raising the minimum wage only hurts the job growth as long as managers are greedy. Of course you want to keep your profit rates the way they are, preferably raising them. Can't do that if you have to spend more money on paying people. So if you have to pay the individual more, you just employ less individuals. Economics 101.


Companies that make negative profits could use the CEOs salaries as compensation and cut them down to a relative minimum.

But I know that thought is too edgy for most people. Why implement some sort of ethics when we have the freedoms to do whatever the fuck we want to?

[AndaliteBandit]

Raising the minimum wage only hurts the job growth as long as managers are greedy. Of course you want to keep your profit rates the way they are, preferably raising them. Can't do that if you have to spend more money on paying people. So if you have to pay the individual more, you just employ less individuals. Economics 101.

On the other hand, raising more people out of poverty and giving them spending money encourages them to, well, spend money. Businesses are then likely to hire more employees to meet the demands of this rise in new customers. Supply and demand, also ECON 101.

And that appears to be what is happening in most of the states that raised the minimum wage.

[StayTuned]

We don't need to get rid of the 1%. There will always be a richest 1%.

We need people within those 1% to be a tad less wealthy, and we need them to be a lot more ethical. That would already help.

Ain't gonna happen with dinosaurs as heads of conglomerates and wall street around the corner.

[Darsithis]

There are open threads about this already