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CEO Has Last Laugh At Fox News' Expense

"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," said Dan Price in an internet video released yesterday.

In 2015, a young entrepreneur named Dan Price raised the minimum salary of all his employees to $70,000. Fox News wailed, cried "socialism!" and said his idea was doomed to fail and so would his business, a credit card processing company based in Seattle called Gravity Payments. Well, that wasn't the case and since then his company has flourished,

Source: Raw Story

Six years ago, CEO Dan Price revealed that he would raise the minimum salary of employees in his company to $70,000 a year. Right-wing media at Fox News and Fox Business laughed at him, mocked him, called him a socialist, and predicted that his company would fail and his staff would be on the bread line in short order. It was Dan Price who got the last laugh.

Doing a round of interviews, Price revealed that not only has his company not failed, it has flourished. The company, which handles credit card processing, has grown from doing $3 billion to $10 billion, he said, tripling their revenue.

Further, Price said that it's been a huge help to his staff. People bought their first homes, they put more money into their 401(k) accounts, they began having children, and turnover for the company dropped in half.

And here's a longer version of that 2015 segment where Bolling called him a socialist.

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