Gravity Payments: The Seattle company with a minimum salary of $70K

SEATTLE — Staff members gasped four years ago when Dan Price gathered the 120 employees at Gravity Payments, the company he had founded with his brother, and told them he was raising everyone’s salary to a minimum of $70,000, partly by slashing his own $1.1 million pay to the same level. The publicity forced Gravity, which processes credit card payments for small businesses, to hire additional people to handle a deluge of inquiries. Worst of all, Price’s brother, who owned a stake in the company, sued and alleged that Price hadn’t consulted him on decisions.

Source: www.nytimes.com