Interesting Tweet by Dan Price the CEO who pays his workers at least $70,000 a year

[Yo_Mama_Been_Loggin]

Last edited Tue Sep 21, 2021, 04:26 PM - Edit history (1)

Link to tweet

[nilram]

1. Thanks. I just followed him now on my Twitter feed.

[FakeNoose]

2. This Dan Price sounds pretty awesome

... however MOST American businesses wish they could operate just like American Airlines.

[themaguffin]

4. He consistently makes good points and actually does more than talk.

[FakeNoose]

5. Maybe he's a little bit like Chuck Collins?

[themaguffin]

7. I'm not familiar with him, but sounds interestng.

[gldstwmn]

3. Great Tweet. He should also point out to them that for the most part their

service is also horrible.

[The Jungle 1]

6. Corporate welfare is socialism.

We need to scream this fact.

[sarchasm]

8. After all, corporations are people, right?

...not.

[Ziggysmom]

9. You said it! Our biggest handouts are to corporations who do little for common people.

[ProfessorGAC]

10. A Few Shining Points About Dan Price

He's still the majority owner.
- When he did this, he was getting compensation of a million a year. He cut that to $75,000. So, part of the money is coming out of his own pocket. He also sold off stock in his own portfolio.
- Since he did this revenues increased by 100%. Profits went up by 110%. So, his margins improved because productivity per employee skyrocketed.
- His customer retention is now 91% vs. the industry average of 68%. So, other companies are watching & responding favorably to the improved service & efficiency of Gravity.
- Employee retention is "best in class" among peers.
- With the big uptick in profitability he's recouping some of that $925,000 salary cut, but some employees (already seeing two 20% annual raises, will see eventual 100% increases in compensation, with nearly all seeing at least 30%, including those for whom a 30% raise takes them over $70k) are all compensated well above market.
- Counting the profit taking he gets, his compensation is 23x that of the median worker, and going down. In 1990, the typical CEO made 92x the median worker. Now, it's closer to 300. And, he's still a happy guy leading a comfortable life. Apparently, making $18 million when the rank & file makes $60k isn't mandatory.
To sum up: His company continues rapid growth, his salary went down but back up, his employees produce more & customers are happy.
Those rooting for his failure after he announced that will be disappointed. Good!

[soldierant]

11. I'm honestly not sure what he could be doing that he isn't doing.

But of course, that's exactly the kind of person who does lie awake at night over injustice.

I admit to being touched.

[Irish_Dem]

12. The planet and people are the most valuable resources we have.

America doesn't believe in investing in either of them.
In fact, trashes the planet and the regular person as much as possible.

[Sucha NastyWoman]

13. What a man!