Income inequality
01-07-2014, 07:30 AM
#41
Gets Weekends Off
Joined APC: Jul 2012
Posts: 352
Free Trade Under Fire is a great book.
Freakonomics can be fun if you like thinking about how econ can be applied elsewhere.
On the subject of morals, I really liked "What Money Can't Buy." I disagreed with a number of his arguments but well written and well thought out.
Freakonomics can be fun if you like thinking about how econ can be applied elsewhere.
On the subject of morals, I really liked "What Money Can't Buy." I disagreed with a number of his arguments but well written and well thought out.
02-07-2014, 06:18 PM
#43
Super Moderator
Joined APC: Jul 2006
Posts: 5,544
Thanks for the book recs. I have recently become interested in economics, which is odd for me as I hated econ. in college.
I have recently started listening this podcast, it's makes the morning commute more interesting. Side note: Kia is a former Navy guy, some sites say he was a pilot others say a NFO. I also listen to the freakonomics and NPR planet money podcasts, which are both pretty interesting.
Originally Posted by GogglesPisano
And make a daily habit of listening to APM "Marketplace" on NPR.
02-18-2014, 09:47 AM
#44
Bracing for Fallacies
Joined APC: Jul 2007
Position: In favor of good things, not in favor of bad things
Posts: 3,543
Wasn't really sure where to put this, and didn't want to start a new thread...
Why Big Ass Fans pays 30% above national average - Feb. 18, 2014
Carey Smith grew up familiar with a hard day's work. He started selling Christmas cards door to door at age nine and moved on to setting newspaper type, cleaning hospital bedpans and washing shirts.
"I come from a blue-collar family," Smith said. "My mother used to work for a company that gave employees a ham at the holidays as a bonus. It really bothered her to work so hard all year and get a $5 ham as a 'thank you'."
Employees of Big Ass Fans don't have to worry about that. Based in Lexington, Ky., the company sells fans for homes, factories and businesses in 80 countries. In 2012, Smith's 481 workers were paid about 30% more than the U.S. median of $45,790 -- and 50% more than Kentucky's median of $38,940.
And in 2013, Big Ass Fans rewarded all factory employees with a $1-per-hour raise.
There has been a lot of controversy lately over whether to raise the minimum wage. But Smith insisted his practices are "just good business."
Related: How will a minimum wage hike hit businesses?
Smith's policy of paying employees well goes back to a remark he heard in his 20s when he worked for an insurance company. A senior executive said the insurer could afford to pay people much more than they did -- but since employees were willing to accept low wages, why bother?
The comment, and the attitude behind it, rankled Smith so much that he began thinking of starting an enterprise "where employees could share in the company's financial success," Smith said.
And Big Ass Fans does just that. Smith pays out about 30% of the company's annual profits as bonuses (nary a ham in sight). While they dipped a bit during the recession, Smith takes pride in the fact that no employees were laid off.
Not only is the no-layoffs policy good for company morale, Smith says it also saves Big Ass Fans thousands of dollars in recruiting and training new employees.
Related: Hardest part of being the boss: Firing people
Workers have returned the favor by sticking around, and not just for high pay. To head off boredom and burnout, Big Ass Fans encourages people to move from one job to another.
Matt Nader, for instance, joined Big Ass Fans as a salesman when it launched it in 1999. Although he was successful, he tired of it after a few years. So Smith put him in charge of supply-chain management, where he's thriving. That kind of flexibility helps Big Ass Fans maintain a retention rate of about 90%, far outpacing the 63% national average. It's also helped them dramatically increase productivity over the last four years.
And revenues? They've gone up even more. From 2009 to 2012, sales jumped from $34 million to $87 million. In 2013, that figure shot up to about $122 million.
"We couldn't have increased revenues almost sixfold in five years if we weren't rewarding people well and keeping them around," Smith said.
Why Big Ass Fans pays 30% above national average - Feb. 18, 2014
Carey Smith grew up familiar with a hard day's work. He started selling Christmas cards door to door at age nine and moved on to setting newspaper type, cleaning hospital bedpans and washing shirts.
"I come from a blue-collar family," Smith said. "My mother used to work for a company that gave employees a ham at the holidays as a bonus. It really bothered her to work so hard all year and get a $5 ham as a 'thank you'."
Employees of Big Ass Fans don't have to worry about that. Based in Lexington, Ky., the company sells fans for homes, factories and businesses in 80 countries. In 2012, Smith's 481 workers were paid about 30% more than the U.S. median of $45,790 -- and 50% more than Kentucky's median of $38,940.
And in 2013, Big Ass Fans rewarded all factory employees with a $1-per-hour raise.
There has been a lot of controversy lately over whether to raise the minimum wage. But Smith insisted his practices are "just good business."
Related: How will a minimum wage hike hit businesses?
Smith's policy of paying employees well goes back to a remark he heard in his 20s when he worked for an insurance company. A senior executive said the insurer could afford to pay people much more than they did -- but since employees were willing to accept low wages, why bother?
The comment, and the attitude behind it, rankled Smith so much that he began thinking of starting an enterprise "where employees could share in the company's financial success," Smith said.
And Big Ass Fans does just that. Smith pays out about 30% of the company's annual profits as bonuses (nary a ham in sight). While they dipped a bit during the recession, Smith takes pride in the fact that no employees were laid off.
Not only is the no-layoffs policy good for company morale, Smith says it also saves Big Ass Fans thousands of dollars in recruiting and training new employees.
Related: Hardest part of being the boss: Firing people
Workers have returned the favor by sticking around, and not just for high pay. To head off boredom and burnout, Big Ass Fans encourages people to move from one job to another.
Matt Nader, for instance, joined Big Ass Fans as a salesman when it launched it in 1999. Although he was successful, he tired of it after a few years. So Smith put him in charge of supply-chain management, where he's thriving. That kind of flexibility helps Big Ass Fans maintain a retention rate of about 90%, far outpacing the 63% national average. It's also helped them dramatically increase productivity over the last four years.
And revenues? They've gone up even more. From 2009 to 2012, sales jumped from $34 million to $87 million. In 2013, that figure shot up to about $122 million.
"We couldn't have increased revenues almost sixfold in five years if we weren't rewarding people well and keeping them around," Smith said.
02-18-2014, 07:35 PM
#45
Gets Weekends Off
Joined APC: Feb 2008
Position: Retired
Posts: 651
Originally Posted by block30
Wasn't really sure where to put this, and didn't want to start a new thread...
Why Big Ass Fans pays 30% above national average - Feb. 18, 2014
Carey Smith grew up familiar with a hard day's work. He started selling Christmas cards door to door at age nine and moved on to setting newspaper type, cleaning hospital bedpans and washing shirts.
"I come from a blue-collar family," Smith said. "My mother used to work for a company that gave employees a ham at the holidays as a bonus. It really bothered her to work so hard all year and get a $5 ham as a 'thank you'."
Employees of Big Ass Fans don't have to worry about that. Based in Lexington, Ky., the company sells fans for homes, factories and businesses in 80 countries. In 2012, Smith's 481 workers were paid about 30% more than the U.S. median of $45,790 -- and 50% more than Kentucky's median of $38,940.
And in 2013, Big Ass Fans rewarded all factory employees with a $1-per-hour raise.
There has been a lot of controversy lately over whether to raise the minimum wage. But Smith insisted his practices are "just good business."
Related: How will a minimum wage hike hit businesses?
Smith's policy of paying employees well goes back to a remark he heard in his 20s when he worked for an insurance company. A senior executive said the insurer could afford to pay people much more than they did -- but since employees were willing to accept low wages, why bother?
The comment, and the attitude behind it, rankled Smith so much that he began thinking of starting an enterprise "where employees could share in the company's financial success," Smith said.
And Big Ass Fans does just that. Smith pays out about 30% of the company's annual profits as bonuses (nary a ham in sight). While they dipped a bit during the recession, Smith takes pride in the fact that no employees were laid off.
Not only is the no-layoffs policy good for company morale, Smith says it also saves Big Ass Fans thousands of dollars in recruiting and training new employees.
Related: Hardest part of being the boss: Firing people
Workers have returned the favor by sticking around, and not just for high pay. To head off boredom and burnout, Big Ass Fans encourages people to move from one job to another.
Matt Nader, for instance, joined Big Ass Fans as a salesman when it launched it in 1999. Although he was successful, he tired of it after a few years. So Smith put him in charge of supply-chain management, where he's thriving. That kind of flexibility helps Big Ass Fans maintain a retention rate of about 90%, far outpacing the 63% national average. It's also helped them dramatically increase productivity over the last four years.
And revenues? They've gone up even more. From 2009 to 2012, sales jumped from $34 million to $87 million. In 2013, that figure shot up to about $122 million.
"We couldn't have increased revenues almost sixfold in five years if we weren't rewarding people well and keeping them around," Smith said.
Why Big Ass Fans pays 30% above national average - Feb. 18, 2014
Carey Smith grew up familiar with a hard day's work. He started selling Christmas cards door to door at age nine and moved on to setting newspaper type, cleaning hospital bedpans and washing shirts.
"I come from a blue-collar family," Smith said. "My mother used to work for a company that gave employees a ham at the holidays as a bonus. It really bothered her to work so hard all year and get a $5 ham as a 'thank you'."
Employees of Big Ass Fans don't have to worry about that. Based in Lexington, Ky., the company sells fans for homes, factories and businesses in 80 countries. In 2012, Smith's 481 workers were paid about 30% more than the U.S. median of $45,790 -- and 50% more than Kentucky's median of $38,940.
And in 2013, Big Ass Fans rewarded all factory employees with a $1-per-hour raise.
There has been a lot of controversy lately over whether to raise the minimum wage. But Smith insisted his practices are "just good business."
Related: How will a minimum wage hike hit businesses?
Smith's policy of paying employees well goes back to a remark he heard in his 20s when he worked for an insurance company. A senior executive said the insurer could afford to pay people much more than they did -- but since employees were willing to accept low wages, why bother?
The comment, and the attitude behind it, rankled Smith so much that he began thinking of starting an enterprise "where employees could share in the company's financial success," Smith said.
And Big Ass Fans does just that. Smith pays out about 30% of the company's annual profits as bonuses (nary a ham in sight). While they dipped a bit during the recession, Smith takes pride in the fact that no employees were laid off.
Not only is the no-layoffs policy good for company morale, Smith says it also saves Big Ass Fans thousands of dollars in recruiting and training new employees.
Related: Hardest part of being the boss: Firing people
Workers have returned the favor by sticking around, and not just for high pay. To head off boredom and burnout, Big Ass Fans encourages people to move from one job to another.
Matt Nader, for instance, joined Big Ass Fans as a salesman when it launched it in 1999. Although he was successful, he tired of it after a few years. So Smith put him in charge of supply-chain management, where he's thriving. That kind of flexibility helps Big Ass Fans maintain a retention rate of about 90%, far outpacing the 63% national average. It's also helped them dramatically increase productivity over the last four years.
And revenues? They've gone up even more. From 2009 to 2012, sales jumped from $34 million to $87 million. In 2013, that figure shot up to about $122 million.
"We couldn't have increased revenues almost sixfold in five years if we weren't rewarding people well and keeping them around," Smith said.
It is hard to put on a spread sheet, but it matters that your employees give a sh*t.
02-19-2014, 06:22 AM
#46
Bracing for Fallacies
Joined APC: Jul 2007
Position: In favor of good things, not in favor of bad things
Posts: 3,543
Originally Posted by 742Dash
Costco. Or the entire nation of Germany, where manufacturing labor costs are 40% higher than the United States yet they are STILL the World's second largest exporting country (given that China would not lie).
It is hard to put on a spread sheet, but it matters that your employees give a sh*t.
It is hard to put on a spread sheet, but it matters that your employees give a sh*t.
Thread
Thread Starter
Forum
Replies
Last Post
