Friday 30 September 2022 04:20 AM Boston tech firm CEO tells investors he's been 'praying for inflation' because ... trends now
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The CEO of a tech firm based in Boston has shared with investors how he had been 'praying for inflation' because it is 'good for business'.
William Meaney, CEO of Iron Mountain, a data storage and management company, stated how higher prices also benefitted the company's bottom line.
During an investors call on September 20th, Meaney said he had been 'doing my inflation dance praying for inflation', according to an audio transcript of his speech.
Meaney essentially admitted that raising prices more than covered the company's increase in costs while adding to the firm's profit margin.
William Meaney, CEO of Iron Mountain a data storage and management company, stated how higher prices also benefitted the company's bottom line
'Raising prices obviously covers our increased costs, but … a lot of that flows down to the bottom line,' he said.
'Where we've had inflation running at fairly rapid rates … we're able to price ahead of inflation', according to audio on The Intercept.
'I wish I didn't do such a good dance, but that's more on
