I think this guy owed someone money and made this idiotic decision to make a point....He isn’t going to pay, as he has no means...
WTF were you thinking??!!
There is a point when the salary spread gets to high, the GAF for the workers is so low nothing happens. There is also a point where the spread is to thin (as Mr Price just found out) where the ones who work just leave, and you’re left with a bunch of people who have no incentive to do anything.
A very teachable moment, but one that goes both ways.
Life is full of fools acting on something they read somewhere, without thinking it over. "Ideal" means something different to people based on circumstances and locale. If you live in a low-rent area, have no kids, and live within your means you can do well with only a third of that. If you like the finer things in life and rack up credit bills, then you're going to need two to three times as much.
If this CEO wanted to improve things for his workers, he should have built worker housing on company property and provided free meals for staff. This would have worked out better than his socialist formula.
Obviously, his $70K salary did not allow him to afford visits to a barber. Looks like a bum.
It would seem likely this guy wasn’t the brains of the operation...