Progressive Seattle CEO Who Raised Minimum Salary to $70k Faces Predictable Woes

Progressive Seattle CEO Who Raised Minimum Salary to $70k Faces Predictable Woes

Entrepreneurship is a gamble,  a risky business indeed.   One dreams a dream, invests time, energy and money into that dream, hoping the risk will pay big dividends. Until recently, Dan Price was just the CEO of Gravity Payments, an entrepreneurial dream he began eleven years ago while still a college student at Seattle Pacific University.  Today he is making the new cycle rounds after announcing he would raise his employees' pay to $70,000 while taking a pay-cut from a $1 million to $70,000.  He told Shepard Smith, of Fox News Channel, that he had founded his company on values and this decision was based on valuing his employees hard work and who brought value to their clients.   Will this risky decision bankrupt Gravity Payments?

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