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 Post subject: Re: Idiots of the world unite!
PostPosted: Mon Aug 03, 2015 4:51 pm 
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jack t ripper wrote:
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What were they attracted to? :lol:

Escapes completely my logic. They were in love. Something completely irrational.

Scary. :?

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 Post subject: Re: Idiots of the world unite!
PostPosted: Mon Aug 03, 2015 7:03 pm 
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jack t ripper wrote:
nero wrote:
Yes, that is hard.

Experienced that 1986, three months. Well, not commenting how it began, my stupidity beyond believe.

Had to make a schedule, every other night for each. And they knew about each other. And were were very competitive.

One finding a wrong color hair on the pillow, raising me up with one straight hand and said: "now, punk fuck me, if your life if dear to you". Scary. But I am alive. Fear of death makes miracles.

Not recommended, that kind of business.



What were they attracted to? :lol:


Isn't it obvious?

His sensitivity and compassion; his deep sense of spirituality; and his long flowing hair. ;-)

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 Post subject: Re: Idiots of the world unite!
PostPosted: Tue Aug 04, 2015 7:18 am 
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http://theweek.com/articles/550205/why- ... del-future

Quote:
Why Gravity Payments could be setting a business model for the future

Jeff Spross

April 17, 2015


Image

Depending on whom you ask, Dan Price is either a saint or a sap.

This week, the 30-year-old CEO announced he would raise the yearly wages of all 120 of his employees to a minimum of $70,000. That company — the Seattle-based Gravity Payments, which processes credit-card transactions — currently pays an average salary of $48,000. One hundred of its employees will see a pay increase, and 30 of those will see their pay double.

Needless to say, the news made quite a splash. The City of Seattle recently passed an ordinance hiking its minimum wage to $15, making it a premiere battleground in the ongoing national dispute over what to do about stagnating wages and rampant inequality.

Price has attracted a few critics as well. A good example is this bit of concern-trolling by Joe Carter, which rests on two points. One, by setting its minimum wage so high, Gravity Payments has created a floor beneath which its revenues cannot drop, which will put it at a disadvantage vis-a-vis other competitors. Two, the employees who just got raises are actually now being paid more than their productivity is worth, and will be the first to get cut from the payroll should Gravity ever need to underbid a competitor.

But here's the thing: Gravity didn't raise those wages by upping its prices. All it did was reshuffle the money that was already flowing through the firm. Price massively cut his own $1 million salary down to $70,000, and diverted about 80 percent of the company's profits for 2015.

That point is important to keep in mind, because Gravity's prices and the quality of its service are what will determine its competitiveness. Neither of those variables have been altered. And as it stands, Gravity is doing quite well against its competitors: The company's anticipated profits for 2015 were $2.2 million before it used most of that for the wage hike, and Price appears confident Gravity can get back to that profit level even with the new wage scale.

In fact, Gravity will still have at least $440,000 in profits in 2015, which means it could drop its prices a bit more, keep the new wage structure, and still remain in the black.

It's certainly possible that another competitor could come along with some fundamentally new technology or approach to the credit-card transaction business, and that would force Gravity to cut prices to stay competitive. But that's the eternal danger any company with any pay scale confronts in any sector in a free market economy. It also simply means its overall flow of revenue would come down. And it would have lots of options for determining how to distribute that reduced flow: it could cut everyone's pay, it could let some people go, it could accept a few years of no profits until it retooled, it could expect a few years of losses and possibly take on debt, etc.

In other words, Price has taken a look at the overall market for his business, and concluded that it will support a business model that pays employees $70,000 annually. And he appears to be correct.

Then there's Carter's second argument: that Gravity is paying some of its employees more than they're worth. This is a pretty easy one to dispense with. Imagine if, by some miracle, our policymakers decided to get serious about getting the economy back to full employment, by, say, passing another trillion dollar stimulus. Labor force participation shoots back up, unemployment drops below 4 percent, and workers become a lot harder to hold onto because jobs are plentiful.

What happens? Well, wages are gonna rise — at Gravity and everywhere else. But they didn't rise because workers suddenly all magically became more productive at once. They rose because workers gained bargaining power against their employers, and their employers realized they'd have to hike pay to keep their businesses going.

Every company is a tiny society of human beings. That mix of people could be workers and the owner in a small business, or workers and investors or shareholders in bigger private or public companies, all depending on how the firm is legally structured. And negotiations between those human beings are what set pay.

The "cost of labor" is not a purely economic consideration, like the cost of bolts or scissors, as Carter implies. It's also an irreducibly social decision, which means what firms pay isn't just a matter of cold-eyed economic calculus. Human pride and greed and the desire for status can introduce a great deal of irrationality into how firms make these decisions. Price's change of heart is admirable, but it also highlights that he was paying his employees less because he could get away with it.

This is why policies like the minimum wage are important: They increase workers' bargaining power in the tiny societies of their firms, giving them a legal tool to demand a greater cut of the revenue flow. Laws to strengthen unions or to bulk up the social safety net can help, too. But with those approaches going nowhere in the United States, it's understandable that worker movements are turning to the minimum wage as an alternative.

Price deserves all the accolades he'll get for this experiment. But we probably shouldn't be relying on crises of conscience among CEOs to make sure workers get their fair cut of the great wealth they help produce.



Just look at all those smiling faces in April.

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 Post subject: Re: Idiots of the world unite!
PostPosted: Tue Aug 04, 2015 7:21 am 
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And how is Gravity Processing doing 100 days after that article?

http://hotair.com/archives/2015/08/02/c ... -problems/

Quote:
CEO who raised workers’ minimum pay to $70K hits predictable problems

POSTED AT 12:31 PM ON AUGUST 2, 2015 BY JAZZ SHAW


Do you remember that millennial CEO from Seattle who raised the salaries of all of his employees to at least $70K to combat income inequality? That was a really inspirational story for many in the SJW movement and made Dan Price a sort of sainted figure among liberals as he paved the way toward a more fair and equal future. Unfortunately, as many conservative, free market analysts predicted at the time, such generosity can come at a cost. And now the young entrepreneur seems to be hitting the reality wall. (Fox News)

The Seattle CEO who reaped a publicity bonanza when he boosted the salaries of his employees to a minimum of $70,000 a year says he has fallen on hard times.

Dan Price, 31, tells the New York Times that things have gotten so bad he’s been forced to rent out his house.

Only three months ago Price was generating headlines—and accusations of being a socialist — when he announced the new salary minimum for all 120 employees at his Gravity Payments credit card processing firm. Price said he was doing it, and slashing his $1 million pay package to pay for it, to address the wealth gap.

“I’m working as hard as I ever worked to make it work,” he told the Times in a video that shows him sitting on a plastic bucket in the garage of his house. “I’m renting out my house right now to try and make ends meet myself.”


The fact that Mr. Price himself is cutting corners in his personal life really has nothing to do with this story. It was his own choice to slash his salary and he is the only one responsible for his home budget. So be it. But he describes a number of other woes which were not only predictable, but probably unavoidable. First of all, some of his higher performing workers have quit. Why? Because people who were “just clocking in and out” with the “least skills” (as one former employee put it) got huge raises while the top talent got little or nothing. This is similar to a theme we’ve discussed here before, such as the backlash we can expect from people who have skilled labor jobs paying 15 or 16 dollars an hour when they suddenly see the guy running the fry machine getting the same thing.

Long time customers also bailed out on Gravity either because of disagreements with his politicized business policies or fears that he was raising his rates to cover his generous employee compensation package. The other person who is up in arms is the CEO’s own brother who is currently taking him to court. The sibling is a 30% partner in the firm and is watching the value of his investment (and his own income) melting away before his eyes. What is an investor supposed to do when the CEO suddenly appears to lose their mind and begins giving away all the company profits and crashing their revenue forecasts?


I’m sure Mr. Price is a very nice man and he clearly cares about people in general. But his move to push his generous nature into his business model is returning precisely the sort of results which the free market predicts.

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 Post subject: Re: Idiots of the world unite!
PostPosted: Tue Aug 04, 2015 11:00 am 
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Gravity sinks under its own weight. ;)

Talk about killing the golden goose. What happens when all the employees lose their jobs? What a naïve fool.

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 Post subject: Re: Idiots of the world unite!
PostPosted: Tue Aug 04, 2015 11:10 am 
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Wonder if it would have worked better had he simply given everyone a 12% permanent pay raise? I mean, there must be some happy medium right?

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 Post subject: Re: Idiots of the world unite!
PostPosted: Tue Aug 04, 2015 11:43 am 
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Anthropoid wrote:
Wonder if it would have worked better had he simply given everyone a 12% permanent pay raise? I mean, there must be some happy medium right?



Well upping his fim's "minimum wage" to $70k sounds much more impressive in the news than a 12% across the board raise.

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 Post subject: Re: Idiots of the world unite!
PostPosted: Fri Aug 07, 2015 4:15 am 
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70k$ minimum?

Fuck, that's coming close to nero's salary and that guy isn't poor.

Do people in US actually earn those kinds of salaries or is this a trick?

Salary is a lie.

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 Post subject: Re: Idiots of the world unite!
PostPosted: Fri Aug 07, 2015 11:06 am 
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Kameolontti wrote:
70k$ minimum?

Fuck, that's coming close to nero's salary and that guy isn't poor.

Do people in US actually earn those kinds of salaries or is this a trick?

Salary is a lie.


Everyone in Silicon Valley (except the cleaning ladies) makes that much. Of course, a 2000 sq ft house in Palo Alto is $1.5M

Roughnecks in North Dakota make more than that but it is dangerous and you cant very well bring your family with you.

RN's make more than that. Most cops make that much after a few years. The director of the State of Calif forest firefighters makes over $200K (I think you might have to actually stab someone in the neck to get the job).

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 Post subject: Re: Idiots of the world unite!
PostPosted: Fri Aug 07, 2015 2:07 pm 
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Kameolontti wrote:
70k$ minimum?

Fuck, that's coming close to nero's salary and that guy isn't poor.

Do people in US actually earn those kinds of salaries or is this a trick?

Salary is a lie.



Depends on where you live, and the position.

The cost of living varies a good bit, in different parts of the country. Pay generally fluctuates along similar lines.

I spoke with a few different retirees from California, who had purchased huge houses on Table Rock Lake down in the backwoods of the Ozarks a few years ago. There has been a steady stream of them moving to the area.

They were ecstatic, and absolutely stunned, about the lower price of everything there. From their mansions on the lake, to gasoline, to the cost of a loaf of bread. Many things cost less than half of what they did in CA, and some even a fraction, not to mention lower taxes across the board. They were in financial heaven; the looks on their faces when they spoke about it was enough to reinforce their happy shock.

Unfortunately those who live and work in the area generally make a good deal less than those in CA with the same position. Another reason nationwide salary figures should be taken with a grain of salt. The cost of living varies across the US (and therefore inflation?), as does the spending value of the dollar.

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