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Offlinecb9fl
Senior ChildMolestationExpert
Registered: 06/12/03
Posts: 3,104
Loc: florida
Last seen: 7 years, 3 months
Costco - experiment in proper behavior
    #4424622 - 07/19/05 07:27 PM (11 years, 4 months ago)

http://www.chron.com/cs/CDA/ssistory.mpl/business/3268811

Quote:

Costco's average pay, for example, is $17 an hour, 42 percent higher than its fiercest rival, Wal-Mart's Sam's Club. And Costco's health plan makes those at many other retailers look Scroogish. One analyst, Bill Dreher of Deutsche Bank, complained last year that at Costco "it's better to be an employee or a customer than a shareholder."




As it should be.

Quote:

Good wages and benefits are why Costco has extremely low rates of turnover and theft by employees, he said. And Costco's customers, who are more affluent than other warehouse store shoppers, stay loyal because they like the fact that low prices do not come at the workers' expense.




Quote:

Emme Kozloff, an analyst at Sanford C. Bernstein & Co., faulted Sinegal as being too generous to employees, noting that when analysts complained that Costco's workers were paying just 4 percent toward their health costs, he raised that percentage only to 8 percent, when the retail average is 25 percent.

"He has been too benevolent," she said. "He's right that a happy employee is a productive long-term employee, but he could force employees to pick up a little more of the burden."




Yeah screw that poor asshole. He should pull himself up by the bootstraps and start working for a place like Walmart. Don't screw the shareholder, screw the taxpayer.

Quote:

"I've been very well rewarded," said Sinegal, 69, who is worth more than $150 million thanks to his Costco stock holdings. "I just think that if you're going to try to run an organization that's very cost-conscious, then you can't have those disparities. Having an individual who is making 100 or 200 or 300 times more than the average person working on the floor is wrong."




I'll have to see if there's a Costco around here. If so they'll be getting a substantial portion of my business from now on.


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It is better to be hated for what you are than to be loved for what you are not. -Andre Gide

"Generosity is nothing else than a craze to possess. All which I abandon, all which I give, I enjoy in a higher manner through the fact that I give it away. To give is to enjoy possessively the object which one gives."


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InvisibleSilversoul
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Registered: 01/01/05
Posts: 23,576
Loc: The Barricades
Re: Costco - experiment in proper behavior [Re: cb9fl]
    #4424654 - 07/19/05 07:37 PM (11 years, 4 months ago)

My parents shop at Costco. It definitely beats Sam's Club any day.


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Invisibleafoaf
CEO DBK?
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Registered: 11/08/02
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Re: Costco - experiment in proper behavior [Re: cb9fl]
    #4424893 - 07/19/05 08:46 PM (11 years, 4 months ago)

costco has free snacky samples on weekends.

fat man says: END OF STORY


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InvisibleRandalFlagg
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Registered: 06/15/02
Posts: 15,608
Re: Costco - experiment in proper behavior [Re: Silversoul]
    #4425331 - 07/19/05 10:20 PM (11 years, 4 months ago)

Quote:

Paradigm said:
My parents shop at Costco. It definitely beats Sam's Club any day.




This policy (paying employees a lot) proves that not all models of capitalism end up excessively benefitting the managers/owners and excessively screwing the workers.

This actually fits into a free market "lets get profits" mentality. By paying people a lot of money you make them more loyal and productive. This can actually increase profits. Sometimes you need to spend money to make money.

I do genuinely get intrigued at stories like this.


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OfflineBaby_Hitler
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Re: Costco - experiment in proper behavior [Re: cb9fl]
    #4425426 - 07/19/05 10:46 PM (11 years, 4 months ago)

There's one about 50 miles from here. The nearest Wal-Mart is 20 miles away. I think I'm going to set aside about $2,000+ of my yearly budget to spend at costco.


Do they have groceries?


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OfflineLearyfan
It's the psychedelic movement!
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Registered: 04/20/01
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Re: Costco - experiment in proper behavior [Re: afoaf]
    #4425574 - 07/19/05 11:21 PM (11 years, 4 months ago)

Quote:

afoaf said:
costco has free snacky samples on weekends.

fat man says: END OF STORY




No doubt. That's a nice touch.

I remember when I was trying to get a job at Costco. It seemed to be some excusive club that only the chosen ones could join. That's of course because they pay so well.








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Offlinedaimyo
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Registered: 05/13/04
Posts: 7,751
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Re: Costco - experiment in proper behavior [Re: cb9fl]
    #4425759 - 07/19/05 11:51 PM (11 years, 4 months ago)

3 :cheers: for Costco


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"I have sworn upon the altar of God eternal hostility against every form of tyranny over the mind of man."


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OfflineRedstorm
Prince of Bugs
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Re: Costco - experiment in proper behavior [Re: cb9fl]
    #4425815 - 07/20/05 12:06 AM (11 years, 4 months ago)

A costco just opened near me. I may have to start shopping there instead of Sam's club.


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OfflineWhiteRabbitt
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Registered: 06/06/02
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Re: Costco - experiment in proper behavior [Re: cb9fl]
    #4425836 - 07/20/05 12:13 AM (11 years, 4 months ago)

costco kicks ass. I buy my years supply of top ramen and frozen chicken there.


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