Post by The Big Daddy C-Master on Aug 4, 2015 15:05:14 GMT -5
Any surprise that this Marxist model failed? 3 months is all it took. You can't raise filth to the top, you only bring the top down.
www.telegraph.co.uk/news/worldnews/northamerica/usa/11778597/CEO-who-set-firms-minimum-wage-at-70000-hits-hard-times.html
A chief executive of a credit card company is counting the cost of his decision to set a minimum wage of $70,000 (£45,000) for all his 120 employees.
Dan Price, who slashed his $1million a year pay package to help fund his altruistic gesture, is now being forced to rent out his own home to make ends meet.
The issue of poverty pay is a sensitive one in the USA and some states are already setting higher rates than the federal minimum of $7.25 (£4.64) an hour.
But Mr Price went considerably further on hearing of the problems faced by one friend who said she was struggling to survive on $40,000 a year £26,000), rather more than he was paying his own staff in Seattle
It was a move which gained global attention and a fair measure of scorn from conservative commentators, such as Rush Limbaugh.
When he announced the move, it was greeted by enthusiastic applause by staff.
But the honeymoon did not last long.
Some clients objected to the “socialist” gesture and withdrew their business his company, Gravity Payments.
Two valued members of staff resigned in protest at the decision not to increase their pay as well to maintain some sort of differential.
As far as they were concerned market forces was the traditional American way of doing things.
Somewhat chastened, Mr Price told the New York Times, “I’m working as hard as I ever worked to make it work.
“There’s no perfect way to do this and no way to handle complex workplace issues that doesn’t have any downsides or trade-offs.”
Pay and jobs is already emerging as one of the issues of the presidential election campaign. Hillary Clinton is supporting a $12 (£7.68) an hour minimum wage, while Bernie Sanders, the Vermont socialist senator and strongest rival is calling for the current $7.25 (£4.64) to be raised to $15 (£9.60).
On the Republican side Donald Trump is in favour of the current minimum wage but opposes any increase, while Wisconsin governor, Scott Walker, described the policy as “lame”.
Ted Cruz also opposes the minimum wage, while Jeb Bush says it should be left to individual states to decide.
www.telegraph.co.uk/news/worldnews/northamerica/usa/11778597/CEO-who-set-firms-minimum-wage-at-70000-hits-hard-times.html
A chief executive of a credit card company is counting the cost of his decision to set a minimum wage of $70,000 (£45,000) for all his 120 employees.
Dan Price, who slashed his $1million a year pay package to help fund his altruistic gesture, is now being forced to rent out his own home to make ends meet.
The issue of poverty pay is a sensitive one in the USA and some states are already setting higher rates than the federal minimum of $7.25 (£4.64) an hour.
But Mr Price went considerably further on hearing of the problems faced by one friend who said she was struggling to survive on $40,000 a year £26,000), rather more than he was paying his own staff in Seattle
It was a move which gained global attention and a fair measure of scorn from conservative commentators, such as Rush Limbaugh.
When he announced the move, it was greeted by enthusiastic applause by staff.
But the honeymoon did not last long.
Some clients objected to the “socialist” gesture and withdrew their business his company, Gravity Payments.
Two valued members of staff resigned in protest at the decision not to increase their pay as well to maintain some sort of differential.
As far as they were concerned market forces was the traditional American way of doing things.
Somewhat chastened, Mr Price told the New York Times, “I’m working as hard as I ever worked to make it work.
“There’s no perfect way to do this and no way to handle complex workplace issues that doesn’t have any downsides or trade-offs.”
Pay and jobs is already emerging as one of the issues of the presidential election campaign. Hillary Clinton is supporting a $12 (£7.68) an hour minimum wage, while Bernie Sanders, the Vermont socialist senator and strongest rival is calling for the current $7.25 (£4.64) to be raised to $15 (£9.60).
On the Republican side Donald Trump is in favour of the current minimum wage but opposes any increase, while Wisconsin governor, Scott Walker, described the policy as “lame”.
Ted Cruz also opposes the minimum wage, while Jeb Bush says it should be left to individual states to decide.
