Costco says it's spent more than $1B on Covid-related expenses

[Yo_Mama_Been_Loggin]

Costco Wholesale Corp. spent more than $1 billion companywide on Covid-19 expenses over the past year, much of it on a $2-per-hour wage premium, Richard Galanti, chief financial officer, said during an earnings call Thursday.

That extra $2 per hour ended on Feb. 28 as the Issaquah-based wholesaler instead raised its starting wage to $16 per hour, up from $15. CEO Craig Jelinek announced the change Feb. 25 during a U.S. Senate budget hearing.

Higher-paid hourly workers and most salaried warehouse employees will also see a wage increase, Galanti said. The new wage rates went into effect on Monday.

Galanti said similar wage increases are occurring in other countries where Costco operates.

https://www.bizjournals.com/seattle/news/2021/03/04/costco-covid-costs.html

[Grins]

1. Here's Costco's CEO's email address. Thank him.

[e-mail]

His first name is Craig.
I’m going to write him.
And thank him for doing this.
And tell him I plan on being a member/customer for a LONG, LONG TIME because of it.

I refused to ever buy a pizza from Papa John’s because that weasel thought adding a few PENNIES to the cost of a pizza to cover health care for their employees would break the company.

[genxlib]

2. Did you ever see the Colbert rant on that Papa Johns controversy

One of my favorite moments in TV history. An all time classic.

Here it is from the Comedy Central website.

https://www.cc.com/video/4fqxvr/the-colbert-report-obamacare-pizza-costs

[Grins]

3. I DO REMEMBER THAT!!

And it wasn’t just Colbert, others were looking at that $.14 and going, “That’s it??? $.14?”

Others flipped it and wrote on the financial impact on the company’s bottom line if they absorbed that cost per pie. Negligible.

As Colbert said, I’d rather eat cold raccoon ass than give PJ’s a penny after that. And I wasn’t the only one.

[Hekate]

4. Happy to be a Costco member