Maybe it’s because I need easily digestible print reading for my train
commute. Maybe it’s my inevitable post-20s loss of hipster cred.
Whatever the reason, I seem to be reading a lot less of the humor
writing at McSweeney’s Internet Tendency and a lot more of Joel Stein’s Time column.
Dan Price, owner and chief executive officer of Gravity Payments, has cut his salary and given each of his employees a $70,000 wage. This move raises the salaries for more than half of the 120-person staff at his credit card processing company in Seattle. Many business leaders have criticized his move. Rush Limbaugh called it socialist, predicting the company would fail. Tim Kane, an economist at the conservative Hoover Institute at Stanford University, said, “It will reduce turnover, increase morale, and help him build an even greater company.” The day after the new wage plan was made public, Price received letters from 3,500 job applicants, and Gravity signed up several new clients (New York Times, April 19).