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In reply to the discussion: This is a quote from the head of Costco... [View all]madaboutharry
(42,038 posts)8. Wall Street doesn't like Costco because they're too nice.
http://www.commondreams.org/views04/0412-08.htm
"Costco draws criticism from Wall Street for sharing its success with its employees, reported the Journal. "Public companies need to care for shareholders first," said a Wall Street analyst critical of Costco, noting that Costco stock traded at only 20 times earnings compared with Wal-Mart's 24 times. "Costco runs its business like it is a private company," sniffed this critic.
To that, Costco President and CEO Jim Sinegal replied, "I happen to believe that in order to reward the shareholder in the long term, you have to please your customers and workers."
Two different philosophies: One leads to the Waltons, the sheiks of Arkansas, by holding workers' salaries and benefits to bare minimums. The other allows workers to share in the profits of their company. Costco pays its workers about $5 an hour more compared to Wal-Mart and has about twice as many workers covered by company health care.
Oh, yes, and Costco has a store in Inglewood."
"Costco draws criticism from Wall Street for sharing its success with its employees, reported the Journal. "Public companies need to care for shareholders first," said a Wall Street analyst critical of Costco, noting that Costco stock traded at only 20 times earnings compared with Wal-Mart's 24 times. "Costco runs its business like it is a private company," sniffed this critic.
To that, Costco President and CEO Jim Sinegal replied, "I happen to believe that in order to reward the shareholder in the long term, you have to please your customers and workers."
Two different philosophies: One leads to the Waltons, the sheiks of Arkansas, by holding workers' salaries and benefits to bare minimums. The other allows workers to share in the profits of their company. Costco pays its workers about $5 an hour more compared to Wal-Mart and has about twice as many workers covered by company health care.
Oh, yes, and Costco has a store in Inglewood."
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I lobbied Costco for nearly 3 years, writing them frequently, and asking/begging them to open a.
Skidmore
Aug 2012
#12
I watched a show that detailed out people get their products into costco. The process is
roguevalley
Aug 2012
#61
The Costco around here won't let me do voter registration in their lot,
struggle4progress
Aug 2012
#34
I live in one of the bluest parts of the country. It's true that many places have "no solicitation"
struggle4progress
Aug 2012
#49
I ask folk if they need to update their voter registration: I don't accost them, and
struggle4progress
Aug 2012
#63
My thanks to Jim Sinegal!!! I do have a Costco fairly close by. I will plan to join and shop there.
meti57b
Aug 2012
#3
Welcome to Costco. I love you. Welcome to Costco. I love you. Welcome to Costco. I love you.
Initech
Aug 2012
#11
When i was distributing forms for Lymphoma Society, they treated me like a VIP.
progressivebydesign
Aug 2012
#41
My stepdaughter worked for them -- they treat their employees WELL, and pay them fairly.
progressivebydesign
Aug 2012
#35
Costco is and always has been 100% blue. Never given a dime to any republican.
Hamlette
Aug 2012
#40
You can get a Huge Slice of Costco Pizza really cheap and it's better than Papa Johns
JI7
Aug 2012
#52
They supply small businesses. Many small restaurants get their materials at Costco.
Kablooie
Aug 2012
#88
Costco's produce and meat is a noticeably higher quality than most grocery stores.
Kablooie
Aug 2012
#89