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One company's new minimum wage: $70,000 a year
by Patricia Cohen
The New York Times Translate This Article
13 April 2015
On 13 April 2015 The New York Times reported:
The idea began percolating, said Dan Price, the founder of Gravity Payments, after he read an article on happiness. It showed that, for people who earn less than about $70,000, extra money makes a big difference in their lives. On Monday afternoon Mr Price surprised his 120-person staff by announcing that he planned over the next three years to raise the salary (of everyone) to a minimum of $70,000. Paychecks of about 70 employees will grow. The average salary at Gravity is $48,000 a year. Mr Price's small, privately owned company is by no means a bellwether, but his unusual proposal does speak to an economic issue that has captured national attention: The disparity between the soaring pay of chief executives and that of their employees. Under a financial overhaul passed by Congress in 2010, the Securities and Exchange Commission was supposed to require all publicly held companies to disclose the ratio of CEO pay to the median pay of all other employees, but it has so far failed to put it in effect. Corporate executives have vigorously opposed the idea, complaining it would be cumbersome and costly to implement.
Global Good News service views this news as a sign of rising positivity in the field of business, documenting the growth of life-supporting, evolutionary trends.
To read the entire article click here
Note: There is a link to the study on happiness in the first paragraph of this article from The New York Times, or click here
Global Good News comment:
Maharishi's Vedic Approach can solve the problems reflected in the above article and in all areas of life: agriculture, business, culture, education, government, and world peace. For more information please visit: http://maharishi-programmes.globalgoodnews.com/
Every day Global Good News documents the rise of a better quality of life dawning in the world and highlights the need for introducing Natural Law based—Total
Knowledge based—programmes to bring the support of Nature to every individual, raise the quality of life of every society, and create a lasting state of world peace.
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