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OT ---Now that is a cool boss!
This thread has 122 replies. Displaying posts 1 through 15.
Post 1 made on Wednesday April 15, 2015 at 14:36
Mr. Stanley
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...So this guy in Seattle owns a credit card processing business "GRAVITY". (We actually sold him some SONOS stuff- nice guy!).

His employees (120) had average incomes of $48,000 annually. He was making $1,000,000 annually.

After talking to employees explainingto him how costly it is to live here, he saw where a little extra money per month could really help out his employees...

...So on Monday he called everyone intro the conference room, and announced that he was reducing his salary to $70,000 annually, and that evverybody in the company would be paid $70,000 annually as well... even the lowest on the food chain guys were getting raises to $70,000!!!

Pretty cool, huh?

Last edited by Mr. Stanley on April 15, 2015 14:44.
"If it keeps up, man will atrophy all his limbs but the push-button finger."
Frank Lloyd Wright
Post 2 made on Wednesday April 15, 2015 at 14:44
IRkiller
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While he may reducing his salary, if you believe he's reducing his income by $930,000.00/yr, I have cheap ocean front property in Cali just for you.
how in the hell does ernie make money?
OP | Post 3 made on Wednesday April 15, 2015 at 14:52
Mr. Stanley
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A friend of mine works for him. She cuts the checks. Said he's the real deal. He drives a super old AUDI, lives simply, plays in a local band and wanted to create a great work environment with happy employees. Pretty simple.


Another perk is unlimited paid vacation, but hardly anyone takes him up on it.

Last edited by Mr. Stanley on April 15, 2015 15:34.
"If it keeps up, man will atrophy all his limbs but the push-button finger."
Frank Lloyd Wright
Post 4 made on Wednesday April 15, 2015 at 15:11
Ernie Gilman
Yes, That Ernie!
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As they say at "Bad Science," actually, if you think about it some, you'll find it's not quite that simple. People are not so fair and lovely as to take something that looks wonderful and be wonderful about it. I predict envy and greed damaging the company as the highly educated "think people" in the company take on a slow burn at the fact that they are not being paid any more than the guy in the mail room.

Since we're already off topic, let's look at another recent "great development" in the world: the recent reductions in the cost of oil. It looked at first like a GREAT deal for all of us, all the network reporters were cooing about how great it is for us... and all I could think was that there were things we were overlooking.

Saw an article yesterday detailing that the Saudi oil minister argued in OPEC last November against OPEC cutting back on oil supplies. He wanted the free-fall of the price of oil to
a) remove profitability from shale oil and other high-cost oil "mining," thus making OPEC sources the attractive sources;
b) maintain and even increase OPEC's market share for the same reason, but most insidiously,
c) place the price of oil so low that alternative fuel technologies would be less attractive due to cost, causing them to fail or be scaled way back, and increasing the dependency of the entire world on OPEC oil.

A huge reduction in the price of oil looked good the next day, just as Gravity's income redistribution looks good the next day. I predict it will not be that simple, and in fact I predict onerously hard days ahead for Gravity. The company, not the law.

The fact that he "drives like an old Audi," a curious phrase that brings to mind "he drives like an old man," does not prove anything about his overall wisdom. It could mean he does not understand the ordinary person's wish to get ahead. Didn't he just make EVERY job at his company a dead-end job? When the mail clerks have been spat upon by upper management and have a horrible attitude as a result, will they leave the company to earn much less elsewhere, or will they stay there and poison the atmosphere?

Not that simple. Not at all.
A good answer is easier with a clear question giving the make and model of everything.
"The biggest problem in communication is the illusion that it has taken place." -- G. “Bernie” Shaw
OP | Post 5 made on Wednesday April 15, 2015 at 15:31
Mr. Stanley
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On April 15, 2015 at 15:11, Ernie Gilman said...
As they say at "Bad Science," actually, if you think about it some, you'll find it's not quite that simple. People are not so fair and lovely as to take something that looks wonderful and be wonderful about it. I predict envy and greed damaging the company as the highly educated "think people" in the company take on a slow burn at the fact that they are not being paid any more than the guy in the mail room.

Since we're already off topic, let's look at another recent "great development" in the world: the recent reductions in the cost of oil. It looked at first like a GREAT deal for all of us, all the network reporters were cooing about how great it is for us... and all I could think was that there were things we were overlooking.

Saw an article yesterday detailing that the Saudi oil minister argued in OPEC last November against OPEC cutting back on oil supplies. He wanted the free-fall of the price of oil to
a) remove profitability from shale oil and other high-cost oil "mining," thus making OPEC sources the attractive sources;
b) maintain and even increase OPEC's market share for the same reason, but most insidiously,
c) place the price of oil so low that alternative fuel technologies would be less attractive due to cost, causing them to fail or be scaled way back, and increasing the dependency of the entire world on OPEC oil.

A huge reduction in the price of oil looked good the next day, just as Gravity's income redistribution looks good the next day. I predict it will not be that simple, and in fact I predict onerously hard days ahead for Gravity. The company, not the law.

The fact that he "drives like an old Audi," a curious phrase that brings to mind "he drives like an old man," does not prove anything about his overall wisdom. It could mean he does not understand the ordinary person's wish to get ahead. Didn't he just make EVERY job at his company a dead-end job? When the mail clerks have been spat upon by upper management and have a horrible attitude as a result, will they leave the company to earn much less elsewhere, or will they stay there and poison the atmosphere?

Not that simple. Not at all.

Sour Grapes Ernie?
He will raise his salary back up in a couple of years, but finds he can get by just fine on $70k. Right now by cutting his pay, allows him to help fund the raises, and with projected profits of at least 2.2 mil a year (and increasing), he will slowy be ramping his salary back up.
Personally I think it is a fnatastic jesture, and I'm happy for those guys.
As for your thoughts on other employees the "think people" as you call them, doing a slow burn... I think you may be projecting a little there.

By not having to stress out about money, I'm certain this will only contribute to a much more positive work environment, that will rub off on their customers.

With every employee being well compensated and the CEO taking one for the team, according to local news, the guys who were making higher slaraies are actually happy for their coworkers who were making less.


This may be a concept that is hard for you to grasp. Their business is increasing quickly as a result of the announcement. Some of us can feel good about this without suspicion. Look at some of the group pictures of the employees... Does it look like low morale to you? If you were one of these "Think people" you refer to, and can't accept the whole concept, than maybe you don't belong at a company like this... just sayin'
"If it keeps up, man will atrophy all his limbs but the push-button finger."
Frank Lloyd Wright
Post 6 made on Wednesday April 15, 2015 at 15:36
Mac Burks (39)
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If i worked hard and moved up in the company and was making $65k per year...for example...and then one day i got a $5k raise so that my salary was now $70k...it would be awesome...until i found out that the guy making $40k was given a $30k raise.
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OP | Post 7 made on Wednesday April 15, 2015 at 16:04
Mr. Stanley
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On April 15, 2015 at 15:36, Mac Burks (39) said...
If i worked hard and moved up in the company and was making $65k per year...for example...and then one day i got a $5k raise so that my salary was now $70k...it would be awesome...until i found out that the guy making $40k was given a $30k raise.

And if I were your boss or CEO and that was your attitude, I'd ask you to get off the bus!
"If it keeps up, man will atrophy all his limbs but the push-button finger."
Frank Lloyd Wright
Post 8 made on Wednesday April 15, 2015 at 16:14
goldenzrule
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Bruce, what magical fairy tale land do you live in? Once you get past the "feel good" story so the press has something to talk about, your left with exactly what Ernie suggested. I'd be awfully pissed if I worked for a company for many years and slowly worked my way up and all of a sudden the new guy is making the same as me. I would not care what the boss was making, that's on him. I would only look at my hard work and sacrifices and compare to the guy who started there last Monday with zero experience.

My fiancee has her administration degree and used to say how all the teachers and staff will love her when she becomes an administrator because she will treat them all fairly. As I've been running the business, she has slowly seen that will never be the case. You simply cannot please 100% of the people 100% of the time. If this guy wanted to avoid ill feelings, his best best would have been to give an across the board percentage raise to everyone. That way new people would feel like they walked into a GREAT company while the long timers would feel like they made the right choice by staying at this GREAT company. Can't be pissed if everyone gets the same percentage increase. Of course some would still be pissed (that 100% thing)
Post 9 made on Wednesday April 15, 2015 at 16:25
24/7
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Remember, the owner that cut his salary made $1,000,000 the year before. I'm guessing he's stashed some mill$ away already.

This is a great experiment. Money challenges are tough but are not the only issue people deal with. Will this be a better work environment because people are less stressed about money? Time will tell.

Post 10 made on Wednesday April 15, 2015 at 16:43
3PedalMINI
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Ahhh, Basically socialism. You guys are making the point of why it just doesnt work.

This has nothing todo with helping, the guy is brilliant and its amaizing PR. Hes probably quadrupled the number of customers since he announced it and the media caught wind of it.

Hes a brilliant business man, Genius! free advertising around the world.
The Bitterness of Poor Quality is Remembered Long after the Sweetness of Price is Forgotten! - Benjamin Franklin
Post 11 made on Wednesday April 15, 2015 at 16:45
Mac Burks (39)
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On April 15, 2015 at 16:04, Mr. Stanley said...
And if I were your boss or CEO and that was your attitude, I'd ask you to get off the bus!

LOL. The day you are someone elses boss is the day that hell freezes over and Bush admits he lied about WMD.
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Post 12 made on Wednesday April 15, 2015 at 16:47
Mac Burks (39)
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On April 15, 2015 at 16:43, 3PedalMINI said...
Ahhh, Basically socialism. You guys are making the point of why it just doesnt work.

Hes talking about communism. Socialism is when we all pitch in to build roads and police stations. Communism is where the doctor gets paid the same as the guy who sweeps up in the lobby.
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Post 13 made on Wednesday April 15, 2015 at 16:50
Mac Burks (39)
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On April 15, 2015 at 16:14, goldenzrule said...
If this guy wanted to avoid ill feelings, his best best would have been to give an across the board percentage raise to everyone. That way new people would feel like they walked into a GREAT company while the long timers would feel like they made the right choice by staying at this GREAT company. Can't be pissed if everyone gets the same percentage increase. Of course some would still be pissed (that 100% thing)

+1 except i would have changed

"If this guy wanted to avoid ill feelings"

with

"If this guy wanted to pay his employees more and not look like a complete moron".
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Post 14 made on Wednesday April 15, 2015 at 17:00
Lowhz
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The thing to remember is that if he's paying $70k then everybody there needs to be worth $70k. If the "think people" there with MBAs believe they're worth more they can take their resumes down the street to Amazon or across the lake to Microsoft where they can certainly get twice that salary, but it will come at the expense of work-life balance.

I think it's a nice idea and ultimately he'll have a company filled with $70k employees.
OP | Post 15 made on Wednesday April 15, 2015 at 17:09
Mr. Stanley
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Not surprized by the usual cynical attitudes here.

It's socialism / communism it will fail / the guy is lying / I'd be resentful of the others / they don't deserve what I have / this has nothing to do with helping / its just a PR ploy...

I think I need a beer.

He's spreading the wealth. That is close to socialism I suppose, and maybe in time, if enough of the old timers bitch, he'll come up with some fair compensation for those crybabies, er, I mean, team players.

And Goldenrule, I don't live in fairytale ville---I've manged people before, and you can't please everybody... I had a friend who won a two million dollar lottery, and he still wasn't happy & bitched about the taxes he had to pay etc.

Some people see the glass half full while the others see it half empty-right?

I think it's an interesting experiment, and nobody is being harmed.

Sure there will be some resentments, but being that everybody is getting fairly well compensated.

I'd say that those resentful employees (if that occurs) can accept it, or go work for some other credit card processing company where everybody is treated like shit.
Those same people should also be glad the owner hasn't decided to outsource the company to India, like so many of these companies have done.
"If it keeps up, man will atrophy all his limbs but the push-button finger."
Frank Lloyd Wright
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