Gravity Payments is a Credit Card processing company based out of Seattle, WA. I heard about them two years ago and the word was good - very very good. I switched my grocery store over to them and was very happy. Excellent customer service and really good rates on transactions. I then switched my Business Center store over to them. I raved about them to a number of local vendors and many of them switched.
Classic American truism - deliver a great product at a fair price and the world will beat a path to your door.
Now, the Founder and CEO - Dan Price - is taking it to the next level - from the New York Times:
Owner of a Credit Card Processor Is Setting a New Minimum Wage: $70,000 a Year
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.
His idea bubbled into reality on Monday afternoon, when Mr. Price surprised his 120-person staff by announcing that he planned over the next three years to raise the salary of even the lowest-paid clerk, customer service representative and salesman to a minimum of $70,000.
“Is anyone else freaking out right now?” Mr. Price asked after the clapping and whooping died down into a few moments of stunned silence. “I’m kind of freaking out.”
If it’s a publicity stunt, it’s costly one. Mr. Price, who started the Seattle-based credit-card payment processing firm in 2004 at the age of 19, said he would pay for the wage increases by cutting his own salary from nearly $1 million to $70,000 and using 75 to 80 percent of the company’s anticipated $2.2 million in profit this year.
More at the site - this is how you do it - the power of the free market and pure capitalism (as opposed to crony capitalism which is all to much in vogue these days).
I really wish that Crossroads had the same kind of capital flow that would allow me to do something like this.
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