Owner of a Credit Card Processor Is Setting a New Minimum Wage: $70,000 a Year

Re:Owner of a Credit Card Processor Is Setting a New Minimum... by clarky07 on Tuesday April 14, 2015 @01:24AM (#9372262)

As I noted below, I have no problems with him cutting his salary. Those profits stop being profits though and are now expenses. If revenue comes downs little bit they are losing money.

Personally I think it would make more sense to raise salaries by whatever he wants to cut his salary, and then add some profit sharing in as opposed to just removing all the profit and adding significant risk to the business.

[ Parent | on HN ]

Re:Owner of a Credit Card Processor Is Setting a New Minimum... by cdcarter on Tuesday April 14, 2015 @01:26AM (#9372269)

My understanding is that he is using this years profit to fund the expense of the three year plan, not 80% of the profit EVERY year.

And then, after three years, hopefully the ROI on this will be quite high, and then at that point, yes it becomes an expense.

[ Parent | on HN ]