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gabeana

(3,166 posts) Wed Jul 25, 2012, 12:57 PM Jul 2012

A little bit more info on Costco in light of Former CEO supporting Obama

this is an article from 2004 but it gives a sense of what is wrong with wall street

Still, some analysts have raised concerns about the company's ability to post larger profits, complaining that Costco treats its employees and cardholders better than it does investors. Costco makes about 1.7 cents for every dollar in sales

for the whole article click the link

http://www.seattlepi.com/business/article/Costco-s-love-of-labor-Employees-well-being-key-1140722.php

4 replies

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A little bit more info on Costco in light of Former CEO supporting Obama (Original Post) gabeana Jul 2012 OP

If the majority of companies followed this model... Liberal Veteran Jul 2012 #1

I know one would think its common sense to treat employees good gabeana Jul 2012 #2

In the final analysis, it's good business. nt Vincardog Jul 2012 #3

I am a Happy Costco Stockholder and Member AndyTiedye Jul 2012 #4

Liberal Veteran

(22,239 posts)

1. If the majority of companies followed this model...

Reply to gabeana (Original post)

Wed Jul 25, 2012, 01:02 PM

Jul 2012

....we'd live in a very different job market.

Instead, it is about squeezing the last penny out of the business for the benefit of a very few and with little to no regard for the people doing the work.

gabeana

(3,166 posts)

2. I know one would think its common sense to treat employees good

Reply to Liberal Veteran (Reply #1)

Wed Jul 25, 2012, 01:07 PM

Jul 2012

from the article

Sinegel -- who disagreed with claims that Costco isn't good to its investors, citing the value of its stock -- acknowledged that the company has a right to make more money.

But not at the expense of its workers.

"It's just good business," he said of treating employees well. "I mean obviously anyone who is a business person thinks about the importance of people to their operation. You've got to want to get the very best people that you can and you want to be able to keep them and provide some job security for them. That's not just altruism. In the final analysis, it's good business."

Vincardog

(20,234 posts)

3. In the final analysis, it's good business. nt

Reply to gabeana (Original post)

Wed Jul 25, 2012, 01:14 PM

Jul 2012

AndyTiedye

(23,500 posts)

4. I am a Happy Costco Stockholder and Member

Reply to gabeana (Original post)

Wed Jul 25, 2012, 03:50 PM

Jul 2012

Costco treats its employees and cardholders better than it does investors

That must be why they have so many customers, and why their employees are so friendly.
That and that they sell better stuff than most others stores, and they sell it cheap.

http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1343246400000&chddm=993531&chls=IntervalBasedLine&cmpto=NYSE:WMT&cmptdms=0&q=NASDAQ:COST&ntsp=0

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