You're all assuming there was a low end jobs like mail and janitorial. The small work could easily all be sourced out and the prev range was 40k-60k.

I won't assume anything but like to think the guy is trying to do something good for his employees and hoping that in turn they will all get a raise and work harder for it.

Probably a mix of everything everyone has said, but damn you guys jump to bitterness quick.

The CEO probably didn't have a $1mil salary, he may have made a mil after all was said and done as profit from the business.

So he has a $70k salary, he may still very wel make significantly more once all is said and done. It's his company.