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FROM THE EDITOR

Business as Unusual: CEO Cuts Salary to Give Workers $70K Minimum Wage

Did Dan Price, CEO of Gravity Payments, invent a radical business model last week by announcing that he would cut his own million-dollar paycheck to help finance a minimum annual wage of $70,000 for his 120 employees? Price insisted that the move was simply good business practice, citing studies showing worker satisfaction peaking at that annual income level. Other studies show correlations with workplace happiness and productivity, as well as lower turnover rates and overall better company performance. Price’s move may be unorthodox, but it quickly showed positive impacts: his credit card processing company has signed up several new clients and received more than 3,500 job applications. That sounds like basic bottom line business thinking, and an innovative strategy that is a winner.

John Howell, Editorial Director 

News & Blogs

7 hours 2 min ago

Guest blog by Kendyl Salcito and Mark Wielga, NomoGaia

Last week, four private security contractors to the U.S. Department of Defense were sentenced to extended prison terms for the gruesome shooting of 31 Iraqi civilians in Nisour Square, Iraq in 2007. The sentences come on the heels of the U.S Government’s third and penultimate consultation on the role of the government in ensuring that American corporations respect human rights abroad.


12 hours 2 min ago

(3BL Media/Justmeans) – Public awareness about the pollution caused by businesses is proving to be a powerful tool for change in China. In a scenario where environmental activists find it difficult to force industrial polluters to change, court processes are long-drawn and complex, and incentives to cut environmental corners are high, public accountability can achieve quicker and more effective results.


20 hours 2 min ago

(3BL Media/Justmeans) – April is National Financial Capability Month in the States, aiming to give all Americans the tools to navigate the financial world and gain economic freedom to pursue their own dreams and pursuits. Whereever we may be in the world, being financially capable is essential for some of life's biggest transitions—paying for college, buying a home, saving for retirement.


2 days 3 hours ago

(3BL Media/Just Means) - ​Agricultural waste such as wheat straw and other types of cellulosic fiber can save quite a few trees if used to make consumer products such as print paper and tissues, besides giving farmers another revenue stream.


3 days 8 hours ago

(3BL and Just Means) Sustainability in Florida gets a bad rap. I understand that. Compared to New England, California and Europe, Florida overall lags in conversations about sustainability in business, government and education. Jesse Rittenhouse and Iraklis Kalamenios, co-founders of the Recycling Energy Forum, are working to change that.


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