Seattle CEO to cut his pay so every worker earns $70,000

The fact that he had to cut his salary to give out raises shows the company isn't doing to well. So he's decided to go the PR route to drum up some new business. But it won't last long, and the company will shutter. And all.those employees will lose their jobs.

He's doomed them all. I'd rather make a fair salary at a stable job, then make more than I'm worth for a finite amount of time.
 
Last edited:
Rico x Hood said:
Thr fact that he had to cut his salary to give out raises shows the company isn't doing to well. So he's decided to go the PR route to drum up some new business. But it won't last long, and the company will shutter. And all.those employees will lose their jobs.

He's doomed them all. I'd rather make a fair salary at a stable job, then make more than I'm worth for a finite amount of time.
Click to expand...

that's what i am thinking
but still, good for him to put money in his employees regardless
 
Rico x Hood said:
Thr fact that he had to cut his salary to give out raises shows the company isn't doing to well. So he's decided to go the PR route to drum up some new business. But it won't last long, and the company will shutter. And all.those employees will lose their jobs.

He's doomed them all. I'd rather make a fair salary at a stable job, then make more than I'm worth for a finite amount of time.
Click to expand...
:lol: :lol:


Or maybe his shares of the company are doing so well, he doesn't mind cutting his salary for the PR stunt because his equity is off the charts.


Stop being a negative Ned, bruh...
 
What shares? It's not a publically traded company. And he clearly states in the article that he doesn't know how he's gonna cover the loss on profits from this move. He just knows he won't raise rates on his customers.

Poorly thought out publicity stunt.

And also, that lady who said "I'm going to buy a house." is the perfect example of the poor financial decisions that people make when they get unexpected money. Later down the line she'll be telling her sob story about how she lost her job and can't afford to pay her mortgage :smh:
 
Last edited:
It's all a PR ploy. The good publicity lands him a bunch of new clients. Based on what I've heard it's a churn and burn shop. You don't even work there a year, but you build up a client base, then they get rid of you. Yeah, there are some long term employees, but there's incredibly high turnover. most of the people working there won't see that $70,000 salary.
 
Jay Patt said:
CORPORATE_DEVIL_by_lordcoyote.jpg
Click to expand...
Precisely.
 
dmbrhs said:
It's all a PR ploy. The good publicity lands him a bunch of new clients. Based on what I've heard it's a churn and burn shop. You don't even work there a year, but you build up a client base, then they get rid of you. Yeah, there are some long term employees, but there's incredibly high turnover. most of the people working there won't see that $70,000 salary.
Click to expand...

If that's true :smh:
 
Rico x Hood said:
The fact that he had to cut his salary to give out raises shows the company isn't doing to well. So he's decided to go the PR route to drum up some new business. But it won't last long, and the company will shutter. And all.those employees will lose their jobs.

He's doomed them all. I'd rather make a fair salary at a stable job, then make more than I'm worth for a finite amount of time.
Click to expand...

Pure conjecture that you're pulling out your cheeks

The company seems to be doing quite well

-Dude said that the pay raises would cut the companies profits in half. So they have the money
-Word is the firm is the biggest payment processor in the State
-And they were doing well enough to warrant him having a 1 million dollar a year salary. For a firm with just over 100 people, that is quite impressive.


This is not the first time he has given company wide pay raises, and this pay bump will be gradual.

Plus this guy started the company at 19, became a millionaire in his 20s, has been honored by the President, and was on the cover of Entrepreneurship magazine. But somehow, you're certain you know more about his company that he does.

-Maybe the fact he is willing to take risk like this, and you're not, is the reason ole boy is a highly regarded millionaire Entrepreneur, and you're not. Just saying
 
Last edited:
Rico x Hood said:
What shares? It's not a publically traded company. And he clearly states in the article that he doesn't know how he's gonna cover the loss on profits from this move. He just knows he won't raise rates on his customers.

Poorly thought out publicity stunt.

And also, that lady who said "I'm going to buy a house." is the perfect example of the poor financial decisions that people make when they get unexpected money. Later down the line she'll be telling her sob story about how she lost her job and can't afford to pay her mortgage :smh:
Click to expand...
sooooo...

Because it's not public...

You can't have shares in the company...?










350x700px-LL-9d2e521e_ConfusedObama.gif
 
dmbrhs said:
It's all a PR ploy. The good publicity lands him a bunch of new clients. Based on what I've heard it's a churn and burn shop. You don't even work there a year, but you build up a client base, then they get rid of you. Yeah, there are some long term employees, but there's incredibly high turnover. most of the people working there won't see that $70,000 salary.
Click to expand...

But ummmmmmmmm increasing pay is one of the ways to fight a high turnover rate
 
Last edited:
the CEO of the company I work for wouldnt take a $1000 paycut, cheap bastard :smh:
 
If the company was publically traded that would be the only way to know how many shares he had, if any. And what there valuation would be. The equity argument holds no water. Too many unknowns.

I'm basing every I've said on the article. Sure he's a successful guy and a risk taker. But the fact still remains that he's steered his company into rough waters and chances of success are minimal. But hey, if he makes. Congrats. But I highly doubt it.
 
blco02 said:
This will fail in the long run. No incentive for working hard to make 70k? Productivity will drop big time after a couple years.

Socialism never works, people.
Click to expand...
I'm pretty sure the incentive is to keep the job now that it's a desirable position. 
 
dmbrhs said:
Did you even read what I wrote? The company is dumping the employees.
Click to expand...
Pretty much. Once he gives his employees that kind of a raise, he'll have no choice but to stick with it. So, what's going to happen once people start coming through his doors and he'll no longer want to pay his employees at their higher rate? Only other choice is to lay them off.
 
You must log in or register to reply here.

Thread Gallery

View Full Gallery

The ultimate sneaker enthusiast community.

NikeTalk was created as a way of giving back to both the sneaker enthusiast community and to the greater global community of which we are all a part.

NikeTalk is NOT affiliated with Nike Inc. in any way, shape, or form. All opinions expressed herein do not necessarily reflect those of Nike, Inc.

© 1999-2024 NikeTalk.com

Share this page

Back
Top Bottom