- Sep 4, 2008
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Well it looks like good ol' liberal Seattle is at it again on the minimum wage front lines. First the $15/hr MW, now this:
http://www.nytimes.com/2015/04/14/b...-setting-a-new-minimum-wage-70000-a-year.html
Interesting idea, but realistically I wonder how long that will last when so much profit is eaten up by salaries? It's his company, his money.
http://www.nytimes.com/2015/04/14/b...-setting-a-new-minimum-wage-70000-a-year.html
His idea bubbled into reality on Monday afternoon, when Mr. Price surprised his 120-person staff by announcing that he planned over the next three years to raise the salary of even the lowest-paid clerk, customer service representative and salesman to a minimum of $70,000.
...he would pay for the wage increases by cutting his own salary from nearly $1 million to $70,000 and using 75 to 80 percent of the companys anticipated $2.2 million in profit this year.
Interesting idea, but realistically I wonder how long that will last when so much profit is eaten up by salaries? It's his company, his money.