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44. A tale of two brothers

Mon Dec 21, 2020, 12:20 AM

Dec 2020

His brother, co-founder and minority shareholder of the company, sued him in 2015/16 because of the pay raise and claimed Price was giving himself too much compensation and not giving the shareholders enough dividends. He lost.

https://www.geekwire.com/2016/dan-price-70k-ceo-prevails-suit-filed-brother-gravity-payments-co-owner/

That kind of reminded me of the Dodge Brothers suing Henry Ford who wanted to keep the cash in the company to build more plants, raise the pay of workers, and lower the price of the vehicle(s) being produced. Dodges wanted more dividends. They won.

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Remember that COE that cut his salary to pay his employees 70k a year? --- [View all] packman Dec 2020 OP

Gravity Payments should be a business model. panader0 Dec 2020 #1

Thank you so much for sharing this. niyad Dec 2020 #2

Kudos to Dan Price! And thank you for posting this! highplainsdem Dec 2020 #3

Dan, you are The Man! colorado_ufo Dec 2020 #4

Stunning, and wonderful. TryLogic Dec 2020 #5

My business signed on with Gravity after this press announcement and some research. nature-lover Dec 2020 #6

Just imagine an America if every CEO did this. Ferrets are Cool Dec 2020 #7

But..but...this can't be true! McConnell and Graham always say raises are inflationary. Bengus81 Dec 2020 #8

aahhh......but they will find a way to explain it so it fits there model sdfernando Dec 2020 #15

Why aren't business schools studying this? yardwork Dec 2020 #9

This is not a new idea or application. Societies go through Hortensis Dec 2020 #18

+1000 smirkymonkey Dec 2020 #40

Thank you for posting that- Redleg Dec 2020 #47

It's unquestionably a sign of change, and so glad to hear it's Hortensis Dec 2020 #51

Have been for years..... paleotn Dec 2020 #24

Business schools are the biggest waste of money in "education". JI7 Dec 2020 #39

You are painting with a very broad brush... Redleg Dec 2020 #46

As I said, these are the exception . JI7 Dec 2020 #49

Have you been to business school lately? Redleg Dec 2020 #48

Thank You for posting this...K and R Stuart G Dec 2020 #10

This is anecdotal but makes sense economically. Caliman73 Dec 2020 #11

But what about the fabulous 1000' Yacht or the new Super fast luxury Jet? Tommymac Dec 2020 #27

Enlightened capitalism works for everybody. Rare as hen's teeth, though. Nitram Dec 2020 #12

Capitalism doesn't work for everyone ever. Tommymac Dec 2020 #28

Who loses in the case of this company? Nitram Dec 2020 #36

This is how tickle down economic policies should work! SWBTATTReg Dec 2020 #13

More like trickle UP! nt El Mimbreno Dec 2020 #16

All money trickles up. Hermit-The-Prog Dec 2020 #42

And in the end, PatSeg Dec 2020 #14

Some of his employees can probably afford to live in the same neighborhood he does. Captain Zero Dec 2020 #50

This message was self-deleted by its author Chin music Dec 2020 #17

Damn socialist! keithbvadu2 Dec 2020 #19

Socialist my ass! lastlib Dec 2020 #21

More empirical evidence greed is not good dlk Dec 2020 #20

K&R for visibility Blue Owl Dec 2020 #22

My ex-boss got $450,000 in COVID money, laid off 50% of staff and cut pay 20%. Dustlawyer Dec 2020 #23

And for the life of them, they can't figure out.... paleotn Dec 2020 #26

Fairly-compensated and well-treated employees are more productive and loyal Politicub Dec 2020 #25

How amazing wendyb-NC Dec 2020 #29

This is awesome, and needs to be shoved in the faces of every 1% CEO. BlancheSplanchnik Dec 2020 #30

A small nonprofit group I am with tried to get a Gravity account. SeattleVet Dec 2020 #31

I've loved this young man for years now (since 2015, when I first heard of him). Silver Gaia Dec 2020 #32

Oh, sure. It sounds good. BobTheSubgenius Dec 2020 #33

I wonder if he and Nick Hanover ever talk. BobTheSubgenius Dec 2020 #34

I own a small business, around 25 employees, and this is basically how I operate as well Mr. Ected Dec 2020 #35

I don't know Dan Price FakeNoose Dec 2020 #37

and this ladies and gentlemen is what the real "trickledown" theory REALLY MEANS. a kennedy Dec 2020 #38

Awesome Joinfortmill Dec 2020 #41

Beautiful. 58Sunliner Dec 2020 #43

A tale of two brothers OnlinePoker Dec 2020 #44

But what about the poor investor moondust Dec 2020 #45

thank you for update Demovictory9 Dec 2020 #52

Bravo catrose Dec 2020 #53