Ulterior motive for $70,00 pay raises


#1

Back in October we checked in on Dan Price, the CEO of Gravity Payments who gave all of his workers a raise to a minimum wage of $70K per year. Things weren’t going so well for Dan, as he had slashed his own salary, lost some clients and was feeling that the future was uncertain. The one thing we did know for sure was that Mr. Price was a hero to opponents of income inequality and a supporters of a higher minimum wage. (Much, much higher in this case.) It was a noble action intended to help people do better.

From the article it seems that income inequity was** NOT** the reason behind this gesture but an effort to bring the value of the company down because of the fight with his brother.