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Dan Price Profile picture
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30 Jun, 7 tweets, 1 min read
How come CEOs get million-dollar bonuses for reaching their goals while workers get a pizza party?
How come CEOs get more for being fired than workers get for working?
How come CEOs get paid in stock that's not taxed while workers get taxes taken straight out of their paycheck?
How come CEOS get to work from home while sending workers back to the office?
How come CEO pay has grown 1,167% since 1978 while worker pay has grown 14%?
How come CEOs get private jets while workers are lucky to get a subsidized bus pass?
How come when a CEO retires they get a $1 million-a-year pension for life and when a worker retires they get a cake?

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More from @DanPriceSeattle

Dan Price Profile picture
7 Jun
For the last two weeks, I've been secretly muted from 99.9% of twitter.

Only people who follow me see my tweets. So when you retweet me, it goes into a black hole.

I even created two dummy accounts to verify this.
I have no idea why this is.

People will point out that I'm the CEO of a small payments company that competes with Square, which is led by Twitter's CEO.

I alerted Twitter multiple times to the issue and they said if I didn't like it, I could pay them to advertise.
I first noticed something was amiss when my follower count stopped growing. Then I noticed over 90% of my interactions were from followers - usually it's 50/50.

Being shadow-muted sucks but the bigger concern is how tech companies have power to limit your voice.
Read 6 tweets
Dan Price Profile picture
29 Apr
You know what would really help me as a small business owner?

Universal health care. We spend millions on premiums that enrich insurance companies.

Went on Fox to make this case and they were flabbergasted: "Why would you want to pay more" (in taxes)?
For-profit health care:

The top 18 health care CEOs make $317M/year combined

Hospital CEO pay is up 93% in a decade

3 opioid makers gave CEOs $2M+ bonuses despite billion-dollar settlements

Health care company profits grew 22% last year alone

Premiums are up 55% in a decade
Sources
18 health care CEOs make $10M+ beckershospitalreview.com/compensation-i…

Hospital CEO pay up 93% in 10 years theintercept.com/2020/12/20/cov…

Opioid CEO bonuses npr.org/2021/03/28/980…

Health care profits up 22% in 2020 kff.org/private-insura…

Premiums up 55% in 10 years nytimes.com/2020/10/08/hea…
Read 4 tweets
Dan Price Profile picture
13 Apr
6 years ago today I raised my company's min wage to $70k. Fox News called me a socialist whose employees would be on bread lines.

Since then our revenue tripled, we're a Harvard Business School case study & our employees had a 10x boom in homes bought.

Always invest in people.
Since our $70k min wage was announced 6 years ago today:
*Our revenue tripled
*Head count grew 70%
*Customer base doubled
*Babies had by staff grew 10x
*70% of employees paid down debt
*Homes bought by employees grew 10x
*401(k) contributions grew 155%
*Turnover dropped in half
After our $70k min wage:
*76% of employees are engaged at work, 2x the national average
*Customer attrition fell to 25% below nat'l average
*We expanded to a new Boise office & enacted $70k min wage there
*Our highest-paid employee makes 4x our lowest-paid employee, down from 33x
Read 12 tweets
Dan Price Profile picture
8 Apr
CEO to median worker pay ratio
Ross: 1,059 to 1
Chipotle: 1,136 to 1
GameStop: 1,137 to 1
KFC/Pizza Hut/Taco Bell: 1,413 to 1
Dick's: 1,487 to 1
Gap: 1,558 to 1
Coke 1,657 to 1
Starbucks: 1,675 to 1
McDonald's 1,939 to 1

yes, it's min wage workers responsible for price increases
CEO to median worker pay ratio
Papa John's: 1,038 to 1
Kraft-Heinz: 1,034 to 1
Foot Locker: 1,013 to 1
Bed Bath & Beyond: 1,007 to 1
American Eagle: 1,003 to 1
Walmart: 983 to 1
DSW: 965 to 1
Kohl's: 923 to 1
Disney: 911 to 1

yes, it's min wage workers responsible for job losses
CEO to median worker pay ratio
Dollar General: 824 to 1
Target: 821 to 1
CVS: 790 to 1
Kroger: 789 to 1
Five Below: 718 to 1
Estee Lauder: 697 to 1
PriceSmart: 694 to 1
Dollar Tree: 690 to 1
Big Lots: 663 to 1

yes, it's min wage workers responsible for store closures
Read 6 tweets
Dan Price Profile picture
29 Mar
Thread on how Amazon treats its workers

Context:
Amazon full-time warehouse employees make $31,200 a year. Jeff Bezos makes that every 12 seconds.

Cost to give warehouse workers 2 weeks paid sick leave + pay bumps so they don't qualify for food stamps = 0.9% of Bezos' fortune
1. Last week Amazon denied its workers' quotas are so punishing that they have to pee in bottles.

The next day, documents showed that not only do workers regularly have to urinate in bottles, they also defecate in bags, and Amazon is well aware of this
theintercept.com/2021/03/25/ama…
2. Amazon is one of the top 3 companies whose employees rely on food stamps and Medicaid (along with Walmart and McDonald's).

This costs taxpayers billions of dollars, meaning you are subsidizing low pay to increase profits for a $1.6 trillion company
bloomberg.com/opinion/articl…
Read 41 tweets
Dan Price Profile picture
18 Feb
I grew up listening to Rush Limbaugh 3 hours a day as a home-schooled kid. My parents idolized him.

5 years ago my parents called me: "Rush is about to talk about you!"

I was in the news for slashing my CEO pay to raise our min wage to $70k. I excitedly turned on his show (1/6)
Rush said: "I hope this company is a case study in MBA programs on how socialism does not work, because it’s gonna fail."

I was completely devastated. My dad said he thought Rush got this one wrong. But it was a huge blow and led to a flood of hate-mail against me. (2/6)
Rush turned out to be right: we were a MBA case study. Harvard Business School concluded the $70k min wage was a huge success. Our revenue tripled. Retention and productivity skyrocketed. We were featured as success stories everywhere from the BBC to the New York Times. (3/6)
Read 6 tweets

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