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The "Robin Hood" CEO Who Famously Raised His Employees' Minimum Wage To $70,000 Has A Dirty Secret
When Gravity Payment's CEO Dan Price announced on April 13 that he would raise the minimum wage of his staff to $70,000 a year, the story went beyond viral: it took the media, especially the part of it which has been obsessing with income and wealth inequality which in the aftermath of Piketty would be most of it, by meteoric storm. Not only that, but the soon to be lionized young chief executive doubled down on this story of "purest of corporate nobility" by announcing he would cut his own compensation of $1.1 million to offset the cost.
Price’s story rocketed around the world, "a capitalist fairy tale to counter growing inequality." As Bloomberg's Karen Weise writes "with his tousled long hair and dark brown eyes, Price combined Brad Pitt’s smolder and Boo Boo Bear’s aw-shucks demeanor to become an articulate and attractive messenger. Rush Limbaugh denounced him as a socialist. Jesse Ventura christened him Robin Hood."
By 3 a.m. the morning after the announcement, Price’s phone was buzzing. The Today Show wanted him the next morning, as did Good Morning America. He hopped a plane to New York. “I did something like 25 live TV interviews in three days,” he says. “We are really passionate about reforming credit card processing. This seemed like an opportunity—we could have a really big impact doing that.”
Fox News pilloried him. Actor Russell Brand, in a laudatory YouTube video, joked, “It’s difficult to ignore the fact that Dan Price looks a lot like Jesus.”
Price signed with the talent agency William Morris Endeavor Entertainment and now charges as much as $20,000 per speech, Pirkle says. Price told his team that the company was getting free booth space at Inc. magazine’s annual conference, in addition to a speaking fee. “In terms of what they’re paying us for a one-hour talk, we’re looking at well over $100,000,” he said. Inc. put him on its November cover. (Inc. didn’t respond to requests for comment.)
The idea came to him, he later told the media, after talking to a friend who earned less than he did. He’d read about a study showing that extra income improves the happiness of people who earn less than about $75,000. "It’s not about making money; it’s about making a difference," Price told the Today Show, one of two dozen TV interviews he did in the days following the announcement.
When Price made his $70,000 announcement, he told his staff, “My pay is set based on market rates and kinda what it would take to replace me. And because of this growing inequality, as a CEO that amount is really, really high. I make, uh, you know, a crazy, uh, my compensation is really, really high."
Gravity staffers plank during meetings to encourage each other to speak quickly.
As he’s recounted over and over, Price says his aha moment about pay came in late March, on the hike with his friend. “I realized that there were people I was working with—that I said I valued as partners, I said I really want to invest in—and they were making less than her,” he told The Daily Show’s Trevor Noah.
Overnight, he became the hero of progressives everywhere demanding lower CEO pay and higher worker pay.
And if his story was true, he could have indeed become the poster child for corporate nobility in an age of runaway executive pay.
Unfortunately for Dan Price's enthralled fans and adoring media supporters, as a must-read expose by Bloomberg's Karen Weise which digs below the surface of what now appear to have been very hollow words reveals, Price had a dirty secret revealing that his true motives were far different than what he disclosed repeatedly on prime time TV.
The lawsuit.
In the summer, the New York Times ran a longer piece on Price, now 31, showing that raising wages wasn’t so simple. Job applicants had overwhelmed his company, and two employees quit, saying the increase wasn’t fair to higher earners. “Potentially the worst blow of all,” the Times wrote, was that about two weeks after the announcement, Price was sued by his older brother Lucas, who owns about 30 percent of Gravity, alleging Price paid himself too much in the first place. Price insinuated that his brother may have sued in reaction to the generous pay increase. “I know the decision to pay everyone a living wage is controversial,” he told the Seattle Times, which first reported the lawsuit. “I deeply regret the rift this has caused in my relationship with my brother.”
The important detail here to remember is that suing Price was none other than his brother, Lucas, co-founder of the company.
As Weise continues, "an expensive lawsuit, filed possibly in response to his kind act, made Price seem more of an underdog."
When I met him at Gravity’s headquarters in mid-October, he wasn’t even supposed to be in Seattle. He’d been scheduled to join Planned Parenthood President Cecile Richards and General David Petraeus on a panel titled “Leading Under Pressure” at the Chicago Ideas Week festival. But Price had canceled at the last minute, saying he’d hit a wall of exhaustion. “I think I’m just standing in for a bunch of other people doing great stuff,” he said. “To me the responsibility is to be the best spokesperson I can.”
As we talked about his wild six months, I brought up the lawsuit, asking if Price thought Gravity’s spending on the raises triggered his brother’s suit, as he’d implied. “I have no idea,” he slowly shrugged, looking right at me. “The quote in the Seattle Times from his attorney was, ‘It wasn’t only because of that.’?” He twisted his beard between two fingers, contemplating the statement by Lucas’s attorney, Greg Hollon. “That one singular quote in the paper is the only information I have about if they were connected or not.”
And now, some 8 months after the story first broke, the truth about Price's true motives emerges:
It’s a poignant story, one that I almost wrote. Until I realized Price knew more than he was letting on. The lawsuit couldn’t have been prompted by the pay raise—if anything, it may have been the other way around. And his salary before the big announcement was unusually high. As I read through the court record and media reports, I began to see how Price was writing his own origin myth one interview at a time. With what he says is a $500,000 book deal, he’s solidifying his place as the next do-gooder businessman, joining the CEOs of bigger companies, such as Zappos’s Tony Hsieh and Whole Foods Market’s John Mackey. In the process, he’s surely become the only credit card processing executive to be feted by Esquire, courted by literary agents, and swooned at by women on social media who declared him “yum.” But how it all happened is a little more complicated.
Actually it not that complicated. As it turns out, the wage hike for his employees and his own personal wage cut was merely a self-defense measure in response to the lawsuit that had been filed before, not after, his stunning announcement. A measure that was wrapped in an unprecedented and carefully constructed media campaign designed to make him the hero. Here's Bloomberg crushing the progressive's image of their own personal corporate Jesus:
Two weeks after returning from the April media blitzkrieg in New York, Price told me, he was settling in at home to finally unwind. “I was going to watch my first soccer game since this had all happened,” he recalled. “My doorbell rang, and there was a legal courier. ‘Are you Dan Price?’ ‘Yes.’ ” Price said he was served with Lucas’s lawsuit. “I was shocked,” he said. “The soccer game got turned off pretty quickly.” It was during this recounting that Price told me how the comment from Lucas’s lawyer in the Seattle Times was the “only information I have about if they were connected or not.”
The possible retaliatory nature of the suit only adds to the drama of Price’s wage hike. “This is all speculation on my part,” Pirkle said in late September, before explaining how, as minority shareholder, Lucas gets paid dividends from Gravity’s profits. “Those profits are obsolete when you raise the wages. His brother’s, like, ‘That’s my money.’ ”
Pirkle suggested to me that the lawsuit could be part of a broader narrative about the purpose of business: “Is it to maximize shareholder returns? Or is it to best serve the customers and provide for employees?” Inc. hypothesized that Lucas filed the lawsuit after the pay increase “perhaps to pressure Dan to sell when Gravity was in the limelight, thus maximizing the value of Lucas’s share.”
There is just one big problem with all those scenarios: as Weise discovered, the lawsuit predates the raise.
Lucas did file the case two weeks after Price’s announcement, but according to court records, Price was served with the suit at his house on the afternoon of March 16—about two weeks before the fabled hike with his friend and almost a month before the wage increase announcement. Washington state allows litigants to serve a defendant before a suit is filed with the court. Hollon, Lucas’s attorney, says Price informed his brother of the pay hike with an e-mail on April 9, only five days before the New York Times and NBC descended on Seattle.(Pirkle said that in a later document, Lucas “specifically referenced” the wage hike as grounds for the case. Hollon responded that the May document added the pay increase as “one of the potential factual bases supporting the claims in the lawsuit” since “the wage program appeared to be a reaction by Dan to the lawsuit.”)
The lawsuit is light on details, but it claims that Price “improperly used his majority control of the company” to overpay himself, in the process reducing what Lucas was due. “Daniel’s actions have been burdensome, harsh and wrongful, and have shown a lack of fair dealing toward Lucas,” the suit alleges. It asks for unspecified damages and that Price buy out Lucas’s interest in Gravity. Hollon said the lawsuit was the culmination of “years” of efforts to resolve Lucas’s concerns. Price “on several occasions suggested to Lucas that if Lucas didn’t like Dan’s actions regarding Lucas’s rights as a shareholder, Lucas should seek legal remedies,” Hollon wrote in an e-mail. “Prior to the lawsuit, Dan had made clear that he would only engage with Lucas through Lucas’s counsel.”
Weise then asks the $70,000 question: "if the lawsuit wasn’t a reaction to the wage hike, could it have been the other way around? After all, Price announced his magnanimous act a month after his brother sued him for, in essence, being greedy. Lowering his pay could give Price negotiating leverage, too. “With profits, at least in the short term, shifted to salaries, there is little left over to buy out his brother,” the New York Times reported Price said.
She confronts Price with this discovery:
In a follow-up interview in mid-November, I pressed Price about the inconsistency. How could what he told me about being served two weeks after announcing the raise be true when the court records indicated otherwise?
“Umm, I’m not, I have to look,” he said.
The court document, I said, definitely says March 16.
“I am only aware of the suit being initiated after the raise,” he replied.
“The court record shows you being served on March 16 ... at 1:25 p.m.,” I said. “And actually, your answer to it was dated April 3,” also before the pay hike.
“I am only aware of the suit being initiated after the raise,” he repeated.
I asked again how that could be, saying the declaration of service shows Price was served with the complaint, the summons, and other documents, “that you are a male, who is white, age 30, 5-feet-8-inches, medium height, dark hair.”
He paused for 20 seconds. “Are you there?” he asked, then twice repeated his statement that he was only aware of the suit being initiated in late April. “I’d be happy to answer any other questions you may have,” he added.
Any other questions, of course, except the one about the smoking gun which crushes his entire narrative of generous Robin Hood corporate CEO into pulp.
We doubt any of the fawning media outlets that chased Price in April and subsequently will care to point out this unpleasant outlier to the convenient narrative he had created for himself.
And while the date of the original lawsuit explains Price's "generosity", another secret may explain his desire for admiration and public adulation, one which if proven to be true, may quickly change Price's public profile from one corporate saint into a personal demon. Here is Weise's second revelation:
Price’s life may get more complicated the week of Dec. 7, when TEDx plans to post online a public talk by his former wife, who changed her last name to Colón. She spoke on Oct. 28 at the University of Kentucky about the power of writing to overcome trauma. Colón stood on stage wearing cerulean blue and, without naming Price, read from a journal entry she says she wrote in May 2006 about her then-husband. “He got mad at me for ignoring him and grabbed me and shook me again,” she read. “He also threw me to the ground and got on top of me. He started punching me in the stomach and slapped me across the face. I was shaking so bad.” Later in the talk, Colón recalled once locking herself in her car, “afraid he was going to body-slam me into the ground again or waterboard me in our upstairs bathroom like he had done before.”
I read those quotes to Price. “I’m just going to take a second because this is very surprising to me,” he said. He paused. “I appreciate and respect my former wife, and she played a very positive role in my life,” he said. “Out of respect for her, I wouldn’t feel comfortable responding to a supposed allegation she may have said coming from a Bloomberg Businessweek reporter when I have absolutely zero evidence of an allegation being made.” I told him that I wanted to be clear: I was giving him the chance to deny the claims. “My comment is very responsive,” he said. “I would be more than happy to provide a comment if and when I actually get the benefit of seeing what you are referencing.”
About three hours later, Price called back. “There’s one more thing that I would like to add to my previous statement,” he said. “The events that you described never happened.”
One aspect of Price’s saga is certain: Seventy employees at Gravity now earn far more than they did before. Was it altruism or a costly lawsuit that motivated it? If his book doesn’t provide answers, perhaps Lucas’s case, which goes to trial in May, will.
And, Weise ignored to add because it is self-explanatory, if these allegations going to Price's true motives, and his spousal abuse are proven correct, all those very generous wage hikes will prove quite transitory as Gravity Payment's clients desert the company one by one, leading to the company's collapse. We wonder if the generous CEO will then take money out of his own bank account to bankroll the insolvent company and provide the needed funding for payroll and keeping his remaining employees happy, or he will simply max out his own compensation in as the company crashes and burns?
Much more in the full article from Bloomberg Businessweek
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Most likely Jesus looked like an Ethiopian or a Southern Egyptian. That is what Israel appeared as, coming out of Egypt. Sheeba, the Queen of Ethiopia, is in his bloodline.
Many are going to be very surprised.
You may be confusing King Solomon's mother Bathsheba (probably from the tribe of Judah) who is in the line of Jesus with the queen of Sheba who was not in the line of Jesus. The queen of Sheba returned to her own land.
Solomon's son Rehoboam who reigned next was by Naamah (the Ammonitess).
still no israelites in egyptian history and we already know the jews just bastardized sumerian and any other writings they could reword into saying they're the chosen people destined to lord over the world.
what people arent connecting the dots on, is the bloodthirsty egregore that the 3 main religions are attached to, then wonder why so many atrocities have been comiitted in its name.
A crook and a wife beater. Who would have guessed!
Promise Keepers...
A crook and a wife beater. Who would have guessed!
What? You don't beat yours?
What do ya tell a gal with two black eyes?
Nuthin.
She's been done told twice.
LOL, who cares, this little 'Jesus' wannabe is a crook anyway.
He is of the Hebrew persuasion, or as Woody Allen joked: 'Hebrew, promoted to narcissist'.
Never gets old ;-)
This Price knows the value of nothing, as Oscar Wilde would put it.
Wasn't this guy ass raped by a bear recently?
This Daniel C. Price?
Share This Profile This profile was last updated on 2/27/14 and contains information from public web pages. Is this you? Claim your profile. Daniel C. PriceWrong Daniel C. Price? Board Member Phone: (212) ***-**** HQ Phone Jewish Funders Network
150 West 30Th St. Suite 900
New York , New York 10001
United States Company Description: The Jewish Funders Network (JFN) is an international organization of family foundations, public philanthropies, and individual funders dedicated to advancing the.. Another money whore, pretending to be something he is not.
Oy vey the sufferink send shekels its another holocaust
One thing you're missing in the article: Liberals/Progressives do 'humanitarian' stuff like this just for show. When it comes down to actually following through and putting money where their mouth is, it's a crap shoot. So of course he's going to take whatever money he can from the dying company and never bankroll the insolvent company or fund payrolls. Since liberalism is about symbolism over substance, he has done his symbolic act already in March and the press will cover up all the actual dirty followup details. They live in a make-believe Star Trek world where everyone is happy, no one gets paid for their work because they love it so much, everyone contributes to the collective, and they all gather together to rid the universe of the evil Klingon Republicans.
This Price claims to be liberal. He is a Klingon. Just not for the Republic. Perhaps his first allegiance is to a foreign place...Israel. Skimming and scamming all for his own.
I stopped reading at the moronic imaginary demographic part.
Has anybody heard of profit sharing in a while? I was just wondering if it even existed anymore. I thought it may have gone the way of the dodo bird and corporate community contracts.
There is a very highly regarded and excellent cooperative in Britain, called the John Lewis Partnership, perhaps Britain's most profitable and trusted store through good times and bad.
winco foods, has a profit sharing plan
Surely it exists (egalitarian flat % of base pay) but the gub still considers it "unearned" income.
"Has anybody heard of profit sharing in a while?"
I think Goldman, JPM and the other big wall street banks have "profit sharing" plans...they pay out all the profits to the employees and leave nothing for its shareholders.
I knew it was all a hoax.
I swear I may be the only honest person left in this world. Or perhaps, all the honest people like myself are living quiet lives that don't ever provoke any sort of media attention. Either way, I never believed this guy was acting completely atruistic ever since I saw his initial salary at a relatively small company. Most other CEO at companies that size would be lucky to pull in half what he was before he lowered his salary.
We're forever going to be at a disadvantage to the shady people in the world that don't play by society's rules. The only disadvantage to breaking them is getting caught... and only then if their is some punishment involved. It's always personally beneficial to cheat. That's why people do it. I don't know whether the speculation about this guy is correct, but it certainly FEELS correct. Not many people willing to take such an exoribant salary out of a small company suddenly decides to be benevolent and lower without good reason. Perhaps he really did find his lost morals, or perhaps he's just another sociopath that society tends to reward because we are too scared to call out these people for what they are before they reach positions of power.
I'd say he is a narcissist, vaulted by nepotism, and money whores who think they will profit from his performance.
+++1,000+++
Or is he the guy who charges $49K per public speaking apperance? Or is he both?
He's robbin the hood, alright...
Candian Jewish News likes him apparently:
http://www.cjnews.com/perspectives/opinions/need-ceos-like-dan-price
HA. Knew this guy was a fraud. First time I saw him. Think I even posted it on a ZH thread. (Albeit it's not hard to call most people a fucking fraud and being right)
But he did raise wages.
There must have been 100 easier and cheaper ways to generate sympathy in the face of detractors. Donate to a women's shelter would be foremost. Host a food donation fundraiser for shelters. Create an animal welfare trust fund. None of those would have put him out more than $100K, tops, and would have had people eating out of his hand.
But instead, he raised wages.
I know, ZH readership is all about keeping wages down. Meaning, in the gutter. I'm not sure where that comes from, maybe it's the "I earned mine the hard way" mentality, though I think "investors" talking about how hard they worked is kinda silly. Push buttons. Sign deals. Arb the spread. Wow yeah that's hard work right there.
Raising wages is good. Let the inflation roar, if it comes to that. We're in a crushing down-ward depressive implosion so no I don't see that as much of a threat -- but okay let it rip.
Yeah but those aren't stories anyone beyond his community would give a shit about. They would likely rate a solitary mention on page 14 of his local paper.
For a small business, a mention in the local paper where people know his company and the employees would be solid gold. He could run a half-page ad if he wanted to explaining his position and enjoining others to do the same. Why would he even give a shit what anyone outside that circle thought? No reason at all.
The story got traction exactly because we are all of us are being daily ass-raped by globalist corporations. They destroy our economies, overtake politics, write corrupting laws to benefit themselves, subvert even the pitiful small regulatory footprint we still have, and at all times and in all places universally treat people (even customers) like worthless vermin. People push any better story out to a wider audience exactly because they want more corporations to do the same, and failing that, to look like the soul-sucking Capitalist vampires they are.
Class warfare. Ugly business. More to come. Lots more.
interesting to see Bloomberg raising the bar on its investigative journalism creds...
"The story got traction exactly because we are all of us are being daily ass-raped by globalist corporations."
NO "corporation" has ever taken an action on its own. It's some HUMAN BEING inside it doing it. Instead of putting the blame on faceless, bodyless, spiritless corporations, let's put the blame exactly where it belongs:
People driven by materialistic desire - because they are the ones who lack spirit - to have more, MORE, MOAR!! than their fellow man, regardless of whether they've earned it or not. Why, in the OT, does Moses get mad when he comes down the mountain and finds the people "casting at lots" (gambling)? Why does Islam (in one of its more correct moments) condemn usury? Because people who do these things want more wealth THAN THEY HAVE EARNED. That our current crony-capitalist world makes it easy and 'legal' to extract more than one has earned is beside the point; it's the desire for UNEARNED WEALTH (which people variously call 'greed', 'envy', or 'covetnous') that is the problem. (I'm not immune to it either; I buy lottery tickets.)
But, in our current mess, the people at the bottom (FSA) live on unearned wealth, while the people at the top (Jamie/Jon/LLoyd) are basking in piles of unearned wealth, and the poor saps in the middle (most of us here, I expect) have to work without enjoying all the fruits of our labour. No wonder there is unrest.
And I can't go without pointing out that the ultimate sodomites are, and have always been, government. They spend far more time up my rectum than Exxon or Apple or Amazon ever has.
Nah. His employees will be worse off for the short period of time he grandstanded over claiming to pay them that amount, while he runs off elsewhere, and they are left wondering what the hell happened to them.
He is a narcissist; AshkeNAZI scammer.
What's this the McCarthy witch hunt?
Who hasn't been accused by a spouse of some heinous crime ( well ok slandered at least )? Maybe his ex was dead jealous of him moving on and she having a $70k student debt loan, wants to get in on the media welfare merry go round to clear her Tab.
If he's shafted his brother then promoted the robin hood myth ( and it was a myth,robin, that is . . . ) he's not too bright in grabbing out at the media circus; Hollywood scripted to build you up and then pull you down way below where you started.
PS I may come across as one who's been shafted by spouse/family/friends but NO i bare no grudges to anyone, except Neocons and bent Public Servants.
I think the answer to this dilemma is to find out how the mass media got wind of this small companies pay increase anyway. Seriously, how did this ever get to CNN to begin with? Did he hire an agent? Did his employees call the news networks? His intentions may be a lot more clear if we could understand how this got promoted so hard.
He and his backers were trying to make more, and publicity from 'friends of friends' is the scammer's best no-cost ploy.
Isn't it remarkable how rich jews always hide behind poor, blameless jews when the jig is up, and they want more free stuff: a free pass for their lies in his case or crimes in the case of those richer,, cleverer and more powerful than him. What a schmuck, he is.
' I know , ZH readership is all about keeping wages down '
Not me cougar_w; however, if .Spy/CorpGov had to earn a living most of them would starve to death. Those are buzzards feeding on the rotting corpse of a zombie, soon to become extinct worker.
he could create the largest safe space in the world, instead of a woumb room, he could create sim-safe-space city. so the micro aggressed could all live and be, in perfect harmony. he could even bring out the old coke commercial, i like to teach the world not to micro-aggress in perfect harmony, with apple trees, and honey bee's and snow white turtle doves. all eco friendly, no harmones, free range. they could all eat soma and walk around in the zombie apocalypse.
now that would have been the most pc and on topic thing he could have done. the libs would jump all over it, the guy would have to be quick on his feet to prevent himself from being smothered by all the money pouring in.
My take was that he really did not care how much or how little his maneuver cost. This was to hit back at his brother for filing suit.
It is like maxing out a soon-to-be ex-spouse's credit cards just before he/she files for divorce. Personal/vicious/greedy.
Petty.
This guy is just a capricious Care Bear, he's got nothing on Shkreli.
I'm shocked /sarc
Dont blame HIM...blame all the people who fell for this story, blame media for helping him, and blame stupid people for actually paying him to speak, and even weatching the television...He is just a con artist, but it takes stupid people to make it work. Now that I see how stupid people really are, I think I might come up with an idea...Has pet rock already been used? :-)
The curious case of the (media) watchdog in the night.
But the dog did nothing.
Precisely.
Law begs to differ with your interpretation. You are blaming the mark, rather than the con man. Silly you...
Thank god that this is his secret.
I thought I was going to read something creepy about him and the ex-Subway dude.
He is a bare faced liar, a con artist who will damage hundreds of trusting employees.
A common thief does little harm by comparison with his sort of filth.
As with all cons, the only harm that can be caused is in the exposure of the con. Until that point, everyone involved in it, either explicitly or complicitly, will benefit. If you are going to make that argument, perhaps the journalists that broke the story are really to blame for the eventual downfall of the company.
Of course, I'm being slightly facetious. But that is the mindset of many that would consider perpetuating a con as it is beneficial while those that will suffer the fallout are ignorant of the outcome.
Funny you should mention the Subway dude. I was driving home today and noticed that the car in front of me had a bumper sticker that read: WWJD?
I presume that meant What Would Jared Do?
The one that took me the longest to figure out was one that said:
I haven't been the same since that house fell on my sister.
Months later, it finally dawned on me that it was a reference to the Wizard of Oz and the driver was referring to herself as a witch.
The novel on which the movie was based is a strident, powerful political allegory intended to alert all Americans.
Follow the yellow brick road in silver slippers, and see the Wizard of Oz behind the curtain live to repent. We are only human, after all. Life is a team effort. No one is perfect.
My dearly deceased English mother had the whole family watch The Wizard of Oz every year. She liked the part when the monochrome turned to full color, bless her.
The story scared the bejesus out of me until I was old enough to understand the political allegory of the original writing.
We are one. Family feuds are the worst. Values are more important than price. Follow the yellow brick road in silver slippers, the Tin Man,, the Lion, the Scarecrow, Dorothy and Toto...they are us if we would but see how good life can be, together.
There is no place like home.
Actually, there is a 25 year old paper that was written about Frank Baum's book. If makes good ZH reading.
Please search on the phrase "the wizard of oz as monetary allegory". There is a copyright use warning that prevents me from posting the link to the PDF.
Hint: yellow brick (gold bar)
Bonus Hint: Oz (ounce)
All our satan worshipping leaders do far worse things to children than Subway dude.
The luciferians sit on every secular throne in every land on Earth. And the ecclesiastical ones as well.
For a time.
<GRIN>.....
Squid
:-D
'They' always get caught in the end, and squeal like stuffed pigs.
Enjoy the show...
Stand by your scam, man!
You lost me at dirty.
Ooooo, carry on, nursey ;-)
https://www.youtube.com/watch?v=Aj7D65SFOhM
Who couldn't love that cheeky chappie Sid James dirty laugh if one is of a certain age. Matron!!!
What's with the author of this article. Getting paid by the word? Too wordy I lost interest after the second paragraph.
Pay the man or accept the copy as it is. Just my opinion...
I'm amused by this humour: journalists should pursue truth or, failing that, dick about on the internet.
Perhaps I'm getting too cynical about freeloader readers, and I still like young, sincere journos.
He fits with the media narrative, so who cares if he's real. The media never fact checks anything, so long as it fits the marxist agenda. In fact, nothing need be real when the media is concerned. In their minds, they are creating reality. It is the matrix.
Dude.
The journalist who wrote the article is the one who investigated and confronted the guy about his sorry story.
I hope she interviews the CFO who quit.
"I did something like 25 TV interviews in 3 days". Gee do you think they will have him back now to ammend the story? Nope, the big networks will let the story die rather than admit it was all BS. What goes unreported is how the media censors ideas they don't like. It's more important than what is actually reported. If it fits the agenda report it, if it doesn't, don't report it.
You are so right about that.
The unfettered joys & beauty of central planning socialism at work! Works like magic every single time!
How does cutting your own salary cut to pay for a wage increase for your employees hurt the minority shareholder? It was a net wash. The only ground for the brother to sue is if he can prove that the employees' wages are now excessive. Problem is, he is up against the "business judgment rule", which essentially protects management from a variety of misdeads, and I highly doubt a jury will decide that paying workers a higher wage is a sufficient breach of business judgment, particularly if the result was lower turnover and an increase in company profits.
Meh. The brother should pipe down, and put his own brother before money.
Look. This kid got a bit uppity, and his narcissism has brought trouble for him and others. But his own family should get together and sort it out without more shame upon them, in my opinion. Otherwise, it will be feast day for the lawyers, and more public shame for the kid's family. Not good.
Would you please stop confusing this caring and sharing issue with the facts! It ruins the embiance!
What do I have to do...set Duck McScrooge upon you? ;-D
Ambiance! There. See. You've done it. Brought a pedant down on you ;-)
His brother claimed his salary was too high and diverted money from him as it reduced profits. Then the "benevolent" brother transferred his salary to other employees thereby garnering media support for how good he is. Yes, after the fact and after he was earning excessive salary and after he was served with a lawsuit did he change his tune.
Fear the clawback.
Piss off Barry Soetoro, aka Diggleberry Obama.
If Robin Hood Met Republicans
The $1 pay club is a scam. It has been recycled so many times.
I stopped at the 'plank picture'.
Fucking morons. Notice it's usually 'after' they get lots of money that they do stupid shit like that?
“that you are a male, who is white, age 30, 5-feet-8-inches, medium height, dark hair.”
"Yum"??? The court description of the guy sounds like a freaking rodent to me . . . .
Shocking.....
LOL
No one is benevolent. God & Jesus collect protection money through tithing in Churches where the poor and downtrodden are expected to tithe all of their discretionary income to a priest that collects for a Church that has raped children for centuries and covered it up through denials. Politicians donate to charity whilst they offshore their profits from investments that are fraudulent, collusive, and criminally derived.
People like Richard Fuld donate $100,000. to charity at Christmas time, and then donate millions to K-Street lobbies to guarantee government collusion on investments with New York investment banks.
Benevolence is a mythology made for children, and ignorant adults. And Santa Claus does not want to make your kid feel happy when he tells you it's your turn to place your kid's butt in his lap. In the case of Santa Claus he is getting minimum wage. In the case of Fuld he is getting millions. Both are creeps, but one of them wants money, and the other wants control.
Nice.
Bottom line: the kid wanted to cheat his own brother, and the offer to employees was filed after the lawsuit by his aggrieved brother.
Cane and Abel, much? Or perhaps not. Just another story about greed, avarice, vanity, sloth...using unknowing others as collateral damage.
Sound familiar? Sound like the State of world affairs when money rules, and honest work, simple cultural differences are reviled and used by those who love money above all else?
Rhetorical question.
This kid's family should settle their differences privately before shaming themselves into oblivion, and making lawyers richer.
so the company is still in business? that is remarkable. imagine, paying employees enough to live on and still having a successful business. i though that was impossible in a capitalist system. i have been learned that paying employees a decent wage was socialism or communism or fascism or all of the above.
"paying employees a decent wage was socialism or communism"
you haven't really been following communism for the past 80 years I guess. Which communist surfs are well paid?
What part of screwing your brother over involves capitalism? BTW, I'm pro-capitalism, well paid, and sign the front and back of my paycheck. If you've never signed the front of your paycheck, I highly recommend it. It makes it very clear...no amount of bitchin can raise my pay, only more productivity.
I miss the old Libertarian ZH.
2muchtax, these communists learned ebonics and easy math in our hollowed halls of lower edumacation...now they can't handle the truth.
i have my own business and it's hard, damn hard, so am right with you there brother
read the 1963 congressional record for proof of a communist takeover of this country
I never trust any CEO men with long hair.
...their own personal corporate Jesus
Nice! Did y'all bitchez catch that? Sounds like Depeche Mode and shit.
Just another hypocritical crybaby desperate for some attention.
Not sure what all the fuss about "motives" is. This guy, as the CEO, raised the minimum wage in his company to US$ 70,000/- per annum. If the company is still functioning after the move as it did before, it is a clever business move. If he is getting more money than earlier from other sources because of this decision, even after taking a pay cut from his own company, that guy is a shrewd businessman. If the partners in the company sued him for his salary before the pay cut (which probably motivated the clever PR move to take a pay cut himself while giving a significant pay rise to some of the employees), it means the court has to decide if he did anything illegal. If his wife left him for alleged brutality, it means he has bad personal relations and likely a psychopath if the allegations are true. He certainly looks like Jesus as portrayed in popular images of Jesus.
In summation, he is a shrewd businessman who can make significant personal fortune out of an essentially bad situation resulting from upsetting investors with no controlling stake (there was no other way he could have drawn the salary he did), has bad personal relations and is likely a psychopath. That is, he is what every other successful US enterpreneuer is.
But while being all that, he also managed to make a lot of his employees happy, although upsetting a few And he looks like Jesus. That is the closest to Jesus any American CEO can be. I have no doubt he is the Second Coming!
This is no place for you. MSNBC is where you'll feel more at home with the complexities of the news stories.
Fool me once.....Fool Me
Fool me twice.....Can't get fooled agin.
This piece is a waste of time and does not add anything. Lord knows how many family disputes are ruinous for all sides. So here is another one...
This is why I read zerohedge
OK, so his real motive for raising wages was somewhat different than him being a generous CEO with vision.
What difference does that make?
Next, you'll be telling us that when .gov raises welfare or reduces taxes it's because they're being generous to the electorate when we all know it's because they want us to vote for them.
Cynical ulterior motives exist across all decision-making.
Hillary,
Thanks for showing up. Shouldn't you be out there collecting money from rich old men for your campaign?
young Charlie Manson...
"He’d been scheduled to join Planned Parenthood President Cecile Richards and General David Petraeus on a panel titled “Leading Under Pressure” at the Chicago Ideas Week festival."
lol.
Fawning over communism only leads to a crushing dead end.
End of line.