Call it a failed Socialist experiment

[GMDino]

(08-03-2015, 03:00 PM)SunsetBengal Wrote: Things not working out so well, for the Seattle CEO that raised the minimum salary in his company to 70K.

http://dailycaller.com/2015/08/02/ceo-who-raised-minimum-salary-to-70k-falls-on-hard-times/


[quoPrice has had to rent out his own house to help cover his bills. In addition, the New York Times reports Gravity lost two of its most valuable employees whose departure was “spurred in part by their view that it was unfair to double the pay of some new hires while the longest-serving staff members got small or no raises.”

Read more: http://dailycaller.com/2015/08/02/ceo-who-raised-minimum-salary-to-70k-falls-on-hard-times/#ixzz3hmBLEQhU
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I was reading about this.  I don't think two employees quitting is "failing".  And he's gathered new customers to replace the ones they lost.

For a more in depth look there's this:
http://www.nytimes.com/2015/08/02/business/a-company-copes-with-backlash-against-the-raise-that-roared.html?_r=0



One of the employees who quit admitted to being burned out and the other wanted to move on eventually anyway.

The raises are being brought up gradually too.

I guess the higher pay people being upset with lower paid making more money makes sense, but it didn't take anything away from the higher paid people.  I suppose its a status thing?  They felt they weren't being appreciated enough?

Anyway, time will tell. 

I think he went overboard with the amount he set, but its his company and he has to decide if he can afford it or not and I'm glad he at least looked at it and is trying to raise everyone.