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15 Jul, 5 tweets, 2 min read
Hilton Hotels furloughed thousands and laid off 2,100 last year. It cut employee pay 13% to $37k.

In solidarity, the CEO said he'd take $0 salary.

Except his salary makes up 7% of total pay.

With extra stock, overall he got a 161% raise to $55.9 million
latimes.com/business/story…
Huge chain Choice Hotels put out a press release last year saying its CEO was taking a 20% pay cut amid hard times for employees.

But then it instituted “COVID-Response Performance Awards" - not for employees but for the CEO.

So the CEO got a total 63% raise to $11.1 million.
Southwest Airlines cut median employee pay 34% last year, to $66,000.

The airline announced salary cuts for executives, as well.

Except they gave execs bonuses to make up for it, and the top execs all made more than the prior year. The CEO made $9.2 million, an extra $400,000.
Alaska Airlines cut 450 jobs even after getting a $1.5 billion bailout.

It announced salary cuts to execs in a news release.

But all top execs got paid more in 2020. The CEO had his bonus targets changed because of the pandemic and got $6.1 million, a raise of $600,000.
Overall, median CEO pay reached a record $13.4 million last year, up half a million dollars from the prior year. In that time worker pay grew about 1%.

Since 2012, CEO pay is up 39% and most of them pay a lower tax rate than you do.
wsj.com/articles/from-…

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More from @DanPriceSeattle

Dan Price Profile picture
7 Jul
Companies are sending people back to the office to "increase productivity"

As a CEO, that makes no sense.

Our company has worked remotely for 16 months. How was productivity affected? This April, we set a record for revenue. In May, we broke that again.
theguardian.com/commentisfree/…
The extra revenue allowed us to grow past 200 employees for the first time. Remote work opened our recruiting pool significantly: we now have workers in 24 states.

Nationwide, research shows remote work fueled 5% productivity growth since people aren’t burnt out from commuting.
Companies say the office motivates employees.

What motivates you? The chance to have a pizza party at the office? Or knowing you can spend rush hour having dinner with your family instead of getting honked at by someone who just cut you off?
Read 10 tweets
Dan Price Profile picture
30 Jun
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?
Read 7 tweets
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

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