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CEO Corporation Employees Compensation Payroll Incentives
Another Story About an Evil CEO Who Overpaid His Employees
Payroll is not always the best incentive.
You may need to become more familiar with the name Dan Price.
Mr. Price was the CEO of a 10-billion-dollar company called Gravity Payments.
Like many previous entrepreneurs, Price started his company in his college dorm room when he heard about high credit card processing fees for small businesses.
Gravity is currently headquartered in Seattle, Washington, with clients across the country, but the majority are in Washington, Oregon, and Hawaii.
Gravity payments provide things like credit card processing for small businesses, gift and loyalty cards, and sales processing software acquisition.
They are the largest credit card processing firm in Washington state.
The New Minimum Wage at Gravity
On April 13, 2005, Dan Price announced that his starting pay for all employees within the next three years would be $70,000 yearly. (For those who are math-challenged, that’s $33.65 an hour.)