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from the sydney-morning-herald-wrong-again dept.
The Center for American Progress reports
In April, Dan Price, CEO of the credit card payment processor Gravity Payments, announced that he will eventually raise minimum pay for all employees to at least $70,000 a year.
[...]Six months later, the financial results are starting to come in: Price told Inc. Magazine that revenue is now growing at double the rate before the raises began and profits have also doubled since then.
On top of that, while it lost a few customers in the kerfuffle, the company's customer retention rate rose from 91 to 95 percent, and only two employees quit. Two weeks after he made the initial announcement, the company was flooded with 4,500 resumes and new customer inquiries jumped from 30 a month to 2,000 a month.
Previous: Gravity Payments: CEO Takes Cut and Makes $70k/year New Minimum Salary
All Staff Pay Raise Backfires on Credit Card Processing Firm
(Score: 2, Informative) by Anonymous Coward on Wednesday October 28 2015, @07:44AM
Found the grandpa. You are decades behind the times. Living independently off the minimum wage, let alone less than the minimum wage has not been possible at any point for anyone under 40. Working your way through school has not been possible without extreme amounts of help for at least half of that time.