Category Archives: Interesting Companies

CEO to Raise Employees’ Salaries to a Minimum of $70,000

Dave Price, CEO of Gravity Payments, a Seattle credit card payment processing firm, announced that he will be raising his workers’ annual pay to $70,000. At the present time, the average worker at his firm earns $48,000. His raises will go to even the lowest paid clerk.

“The market rate for me as a CEO compared to a regular person is ridiculous – it’s absurd,” said Price. He intends to lower his own salary to $70,000 and use 75 to 80 percent of his profits to finance the raises. Other owners, such as Flavio Maluf, see this as a huge step forward.

The paychecks of 30 of the 120 employees will double. Price got the idea from an article he read about happiness, which pointed out that those earning less than $70,000 say extra money makes a big difference.

Price’s idea shows the huge difference between the pay of CEOs and the average worker in the United States, which has one of the world’s widest pay gaps. CEOs in America have 300 times the salary of the average-paid employee. During the Gilded Age of the late 1800’s, business titans were referred to as the Robber Barons. J. Pierpont Morgan recommended at the time that salaries of the elite be 20 times that of their employees.

RadioShack Sells Customers Private Information In Bankruptcy Proceedings

More Than 65 million Customer Names And Physical Addresses, And 13 Million Email Addresses Were Sold

RadioShack compiled a huge amount of customer data over the years. Most of the folks that did business with RadioShack never thought their information would be part of a public bankruptcy sale, but that’s exactly what happened. A hedge fund called Standard General bought the information, but the judge in the bankruptcy proceedings still has to approve the deal.

Even if the sale goes through more lawsuits will follow. Selling customer information in Texas is against the law. RadioShack made it clear; they would not sell their private mailing list while they were open for business, but once the doors closed all promises became null and void. But that is not what the law says in Texas. Even AT&T wants the data destroyed because of competitive reasons. AT&T is the other privacy defender, in this case.

But the courts have allowed the sale of private data before said Jamie Garcia Dias, an expert. The FTC gave the green light to Borders as long as the buyer was in the same business, and the data was purchased along with other assets. The word is Standard General wants to keep the RadioShack stores open. The hedge fund is the largest shareholder, and if that’s the case, the court might rule in their favor.

Keith Mann: Entrepreneur and Philantropist

I was thrilled when I received word that Keith Mann had accepted my invitation to lunch so that I could interview him as the SME on hedge fund investments. For those of you who aren’t as familiar with hedge fund dynamics and industry major players, Keith Mann is the Co-founder, Managing Director and Investment Banker of Dynamic Search Partners, a recruiting search firm for hedge funds and private equity firms.

Mann’s career started in 1995 as the Manager of the Alternative Investments Division at Dynamic Associates. In 2001. Mann  successfully launched his New York City based enterprise.  Dynamic Search Partners is now one of the industry’s most up-and-coming firms.  U.S. law requires investors in a hedge fund to be certified and have legitimate experience and extensive knowledge in investment analysis. Hence why Keith Mann was my first SME pick. Dynamic Search Partners is committed to finding the most talented candidates and investors for these firms. Mann said that the secret is focusing on creating sustainable relationships and partnerships with clients and candidates.

Along with possessing a good sense of business, Keith Mann is also a philanthropist. In 2008, Mann helped to put together a charity event of which Dynamic Search Partners donated $8,000 to Hope and Heroes. Hope and Heroes is a foundation that helps children with cancer, and their families by funding the Division of Pediatric Hematology, Oncology and Stem Cell Transportation at Columbia University. And, in 2013 Dynamic Search Partners created a partnership with Uncommon Schools, a place where the achievement gap is closed for low income students as they are prepared for college graduation. Keith Mann himself, along with several other executive recruiters, personally visited the Crown Heights charter High School in Brooklyn, New York. There, they met with students, individually, and assisted them with building their resumes by reviewing and revising them. Dynamic Search Partners contributed $10,000 to Uncommon Schools. Keith Mann hopes to maintain progressing and lasting partnership with Uncommon Schools, and to continue to help its students gain the necessary skills that will bring them success in college. “We applaud the innovation and commitment to academic excellence at the high school,” Keith stated as quoted on PRNewswire, “And look forward to working closely with the students this year and hopefully for years to come.”

Keith Mann’s business has a ten year tract record, and seems to have a promising future, as clients have described the company as supportive and knowledgeable advocates, providing ease of search experiences.

New Appointments For AWC

The Antique Wine Company has started its plan to take over the vintage wine world. Their CrunchBase profile shows that the company has expanded with two more offices in Asia. One is located in Hong Kong and the other in the Philippines. With this unprecedented growth, and business opportunities being discovered every day, it is only logical that the company would need to start to appoint new high ranking members. One of the new high ranking members of The Antique Wine Company is Martin Tickle, and he will be the new Director of Fine Wines.

Martin Tickle has over 12 years experience in the fine wine world. He will be based out of London where The Antique Wine Company has its headquarters. Martin joined the company after an extensive career in the wine markets that he started right after graduating from University. Martin will be responsible with meeting with growers and merchants in Europe and the Unites States. He will have to ensure quality and the authenticity of the product to ensure the quality AWC guarantees to its clients.

This new appointment shows that AWC is a flourishing company ready to take on new markets. By appointing such qualified individuals AWC will ensure that their future as one of the fine wine leaders in the world is secure. The Antique Wine Company keeps growing and extending its vast network of clients. Now with a firm grasp in Asia, AWC will need to keep adding qualified individuals to oversee important functions in the company. The Antique Wine Company for its part seems to be happy to have such a great talent among its ranks. Lets hope Founder and CEO Stephen Williams will keep his eye open for great talent in any of the new markets the company decides to enter, The Sunday Times says that’s the plan. Martin Tickle is just another example of the quality The Antique Wine Company has other than its vast collection of fine wines.