CEO Reduces Salary from $1 Million to $70,000

Jim Denison | Denison Forum | Updated: Apr 27, 2015

CEO Reduces Salary from $1 Million to $70,000


A CEO making $1 million a year will now be paid $70,000.  A sign that the economy is nosediving?  Not at all.


Dan Price is CEO and founder of a credit-card processing company called Gravity Payments.  He learned from a Princeton University study that happiness is positively impacted up to $70,000 or $75,000 a year, but does not increase significantly above that amount.


So Price reduced his salary to $70,000 to facilitate his goal that everyone at his company will make at least that amount by 2017.  "I may have to scale back a little bit," he says, "but nothing I'm not willing to do.  I'm single.  I just have a dog."


Meanwhile, scientists report that a mosquito may soon help in the war against mosquito-borne diseases.  Malaria, dengue fever, yellow fever, and West Nile virus are growing around the world.  These diseases have become resistant to drugs developed to treat them, while mosquitoes have grown resistant to pesticides intended to kill them.  


So researchers have created a genetically altered mosquito that is unable to transmit illness.  When introduced into the wild, it is intended to supplant disease carriers.  Scientists hope their creation will stop the spread of mosquito-borne disease, and will not evolve into a Frankenstein insect even worse than those it is intended to replace.


Challenging problems often require creative solutions.  Thinking outside the box is imperative when you're trapped inside it. (Tweet this) Bringing the right mindset to your challenges is vital to their solution.


A new study published by researchers at Columbia University shows that happiness and persistence require a deeper inner asset: spirituality.  After 20 years of study, these scientists have concluded that spirituality is "the single most powerful protection against depression and suffering."  Children with a strong overall spirituality have greater determination, higher grades, more optimism and persistence.  There is a clear correlation between spirituality and physical wellness.  In fact, greater spiritual awareness produces the same readings in brain scans as medication-induced recovery from depression and disease.


I was reading in Exodus recently and found this unusual statement: "The Lord has called by name Bezalel the son of Uri, son of Hur, of the tribe of Judah; and he has filled him with the Spirit of God, with skill, with intelligence, with knowledge, and with all craftsmanship, to devise artistic designs, to work in gold and silver and bronze, in cutting stones for setting, and in carving wood, for work in every skilled craft" (Exodus 35:30-33).  Note the order: God called and then equipped.  His Kingdom assignment is larger than you can fulfill in your ability.  But where he leads, he always provides. (Tweet this)


Michelangelo: "The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it."  How high is your aim for your King today?



Publication date: April 27, 2015


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CEO Reduces Salary from $1 Million to $70,000