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- AmyVernon, on 11/18/2008, -1/+87Reading this, seeing how much they pay employees and the excellent health benefits they give, plus the profits they make, I have just one thing to say: Bravo, Mr. Sinegal, bravo.
- Speed, on 11/19/2008, -0/+4Agreed. Looking at all the places where I live, Costco is the only place that is always at maximum capacity for staff, even when we were in a major boom economy.
- Ganpachi, on 11/19/2008, -1/+3It's stuff like this that tears me up. On the one hand, I am glad to see a major big-box warehouse store trying to good by their employees. But then again, for every happy story about their suppliers, there are tons of smaller stories surrounding smaller businesses and suppliers that are forced out of business because they couldn't compete.
Anyone remember WALL-E? BNL still managed to take care of everyone--they did the right thing even while the wrong things they were doing for the larger economy impelled the planet to doom. - mcquitty, on 11/20/2008, -0/+3Hell, you can tell the difference just by walking into one. Look at how they treat customers. I had membership years ago and moved. They didn't have any near me so I starting going to Sam's Club. After moving a couple years ago, we signed back up for Costco Membership. Our first visit reminded us why we love Costco. We were treat great from the start. And the lines are shorter, the selection better and the special items they get from time to time are like Christmas.. You never know what is going to show up. I love it.
- Dustyb, on 11/20/2008, -0/+2Yup, my mom works at Costco. She said the first time she met Jim Sinegal was when he was touring our store. She didn't know what to do so she just went to the corner of the store she worked in and didn't pay much attention to him. I guess she got a tap on her shoulder and Mr. Sinegal was standing there with his arm out and shook her hand and talked to her. My mom never stops talking about how great the guy is and how she loves to work at Costco. The guy is really nice and knows how to make his employees like him.
- IneedaSN, on 11/18/2008, -1/+98the fact that people on wall grumble about costco caring more about its employees than its share holders shows exactly whats wrong with big buisness
- wicketr, on 11/19/2008, -0/+9The problem is with these publicly traded companies, the CEO is just a hired man by the Board of Directors. They are made up of people that benefit heavily based on the stock price. So the CEO is always having to kiss ass to keep his job. And by kissing ass, I mean keeping their stock price high and meeting expectations.
If a company is privately owned, or the CEO still has a controlling share of the company, then usually they tend to do what is right for the employee and customer base. It's the sad state of Capitalism at work.
But in the long run, the companies that benefit the employees and customer win because the others eventually die off. UNLESS THEY ARE ***** BAILED OUT!- illegalcortex, on 11/19/2008, -0/+3Or unless they are Wal-Mart.
- Cuchanu, on 11/20/2008, -1/+1Yeah this guy sounds like a total greedy @$$hole.
- wicketr, on 11/19/2008, -0/+9The problem is with these publicly traded companies, the CEO is just a hired man by the Board of Directors. They are made up of people that benefit heavily based on the stock price. So the CEO is always having to kiss ass to keep his job. And by kissing ass, I mean keeping their stock price high and meeting expectations.
- blitzkriegpunk, on 11/19/2008, -0/+57Welcome to Costco. I love you.
Welcome to Costco. I love you.
Welcome to Costco. I love you.
Welcome to Costco. I love you.
Welcome to Costco. I love you.
Welcome to Costco. I love you.
Welcome to Costco. I love you.
Welcome to Costco. I love you. - Natitude, on 11/19/2008, -0/+60Wow, this really makes me want to give my business to Costco.
- magstheaxe, on 11/19/2008, -0/+10Damn right it does. I've read interviews with this CEO before, and when a Costco opened up near my workplace I made it a point to join. Haven't regretted it in the least.
- MixMastaKooz, on 11/19/2008, -0/+12I live on the Illinois side of the river here in St. Louis, and no Costco. There are probably 3 Sam's that are closer to me. But because of how this man runs his company, how well the employees are treated (and it shows when you visit), I go out of my way to visit the South County Costco once every other month. I need to start begging them to open a store on my side of the river!
- paridoth, on 11/19/2008, -0/+3hay cool i work there in the bakery next time you come by ask for josh, ill give you a free cookie =)
- MixMastaKooz, on 11/20/2008, -0/+1@paridoth Sweet! Yea, I'll definitely do that! That's customer service for ya! I usually spend a lot of time in the wine section finding the best wine for my dollar!
- mrmod, on 11/19/2008, -0/+29I want to give you hugs and hi-fives and attend your kids' plays Jim Sinegal. Apparently some good people do win.
- Hydrogeology, on 11/19/2008, -0/+45It's businesses like this that are the solution to a lot of what's wrong with America. The employees are paid well for the work they do, don't have to worry about a medical crisis eating up their savings, so they have money to spend on other things. That's the type of economic stimulus this country needs; not government bailouts.
- costumemaker, on 11/19/2008, -0/+26It was Henry Ford that once said, 'You should pay your employees enough so that they can buy and enjoy the fruits of their own labor.'
Damn if he wasn't right. Costco is a beacon that other companies should look to in order to see how business should be handled. So they don't have billions of dollars to hand out in dividends, but they have long term growth, sustainable business and for every job opening they have flocks of people wanting the job. Everyone wins. Everyone.
- costumemaker, on 11/19/2008, -0/+26It was Henry Ford that once said, 'You should pay your employees enough so that they can buy and enjoy the fruits of their own labor.'
- pintomp3, on 11/19/2008, -3/+52costco >> sam's/walmart
- clone206, on 11/19/2008, -1/+25costco appends its output to the walmart file in the sam's directory?
- FeloniusMonkey, on 11/19/2008, -1/+7I see what you did there.
- MixMastaKooz, on 11/19/2008, -0/+5Well played, Sir!
- clone206, on 11/19/2008, -1/+25costco appends its output to the walmart file in the sam's directory?
- redcolumbine, on 11/19/2008, -0/+18Makes me wish there was a Costco I could get to on public transit! (no car)
- jamwil87, on 11/19/2008, -1/+16Doesn't matter you wouldn't be able to carry anything you bought there home by hand anyway.
- badplacebo, on 11/19/2008, -0/+4I used to take the subway from the Financial District in Manhattan out to the store in Brooklyn. I'd take large roller luggage to bring my costco groceries home. It can be done and it saved me TONS of $$$.
- publiclurker, on 11/19/2008, -0/+4They now sell large reusable bags for carrying things back home. Of course you have to buy three of them :-), but I think you could manage one on a bus that wasn't too crowded.
- jamwil87, on 11/19/2008, -1/+16Doesn't matter you wouldn't be able to carry anything you bought there home by hand anyway.
- crashbang, on 11/19/2008, -0/+52"Wall Street GRUMBLES(???) that Costco cares more about its customers and employees than its shareholders; it pays workers an average of $17 an hour and covers 90% of health-insurance costs for both full-timers and part-timers."
It makes me ill to read things like that.- forcedfx, on 11/19/2008, -1/+7Holy *****. I need to get a new job.
- MiDri, on 11/19/2008, -0/+7I hear that!
- MixMastaKooz, on 11/19/2008, -0/+9For every position they have open, they receive hundreds of applications! Good luck!
- crashbang, on 11/20/2008, -0/+2What I mean is that wall st. thinks its a bad idea for Costco to put thier employees and customers ahead of thier shareholders. This logic is so insane to me as to make me ill. If you make your employees happy they are more willing to work harder for you in alot of different capacities. If you put your customers needs ( not what you think thier needs are and get pissed off when they don't fit that model) ahead of the shareholders, you can make a lot more money over the long run than if you bend every one over. Shareholders happy, customers happy, employees happy, CEO earns a fat paycheck. Long term vs. short term. Long term wins every time.
- forcedfx, on 11/19/2008, -1/+7Holy *****. I need to get a new job.
- Adamzockoll, on 11/19/2008, -0/+24Costco is my one true love! Just don't tell my wife!
- MrPatriotMan, on 11/19/2008, -1/+47Costco, the way big business should run.
- spaceman84, on 11/19/2008, -0/+47There's a reason why Costco has the lowest employee turnover rate of any major retailer. The employees actually WANT to work there.
- aarghj, on 11/19/2008, -0/+23been a loyal costco fan for over 20 years. one of the best businesses around, and great prices on quality items, to boot. Oh, and customer service that doesnt make you feel like they think your a criminal(ie. best buy, et al).
- RizzoFrank, on 11/19/2008, -0/+19My friend works at costco and loves it. Damn now I want to work there. I've had jobs that were cool for a few months but then begin to suck. Costco must be like heaven or something.
- Budkin, on 11/19/2008, -0/+11I love Costco... do most of my shopping there and will continue to do so! Awesome.
- Shadic, on 11/19/2008, -0/+19"Are certain locations really great for coffins?
You mean like Florida [laughs]?"
And hell, the guy has a sense of humor. I love Costco. Employees are friendly, too. They'll let you go buy (cooked) food without needing a damned card.- MixMastaKooz, on 11/19/2008, -0/+8Yea! You can get a Polish Sausage and a 16oz soda for $1.50!! The pizza isn't bad either! $2 a slice I think. Oh, and churros for a $1: yum!
- illegalcortex, on 11/19/2008, -0/+5Costco frozen yogurt is fantastic.
- jamesallen74, on 11/19/2008, -1/+22I am so glad he made it public that he supports universal health care. About time a CEO stood up against the BS here in the US.
- ObeseSnake, on 11/19/2008, -0/+20I'm at a Costco at least once a week. Great prices, great service, very good return policies...I could go on...
- askantik, on 11/19/2008, -0/+19Costco is like a hundred times better than Sam's.
- kazoomaloo, on 11/19/2008, -0/+10Goddamn I love this guy, but I'm extra sensitive to corporate assholery now because of some big layoffs coming my way.
- freekzero, on 11/19/2008, -0/+23I find it hard to understand how anyone could NOT do business with this level of ethics. How all the big name executives that have helped bury the economy had lobotomies to remove their consciences? Does no-one understand the "do unto others as you would have others do unto you" concept?
Huge kudos to Jim (and everyone else involved) for not only preaching responsible business, but practicing it. - tivolim, on 11/19/2008, -0/+18This is why we drive 30 minutes on back roads to get to Costco when there's a Sam's within a mile of our house.
- hotrodZoidberg, on 11/19/2008, -3/+7I like going to Costco with my mom so I can get some free eats
- haikuFU, on 11/19/2008, -0/+11I LOVE Costco. I had a Sam's membership at one time. Sam's had cheaper stuff, but it was truly *cheaper* stuff. Costco still saves me a lot of money, but I'm getting something high quality in return for my hard earned cash.
Shopping at Costco, and using a high quality vacuum sealer has cut my grocery bill in half. Their return policy is awesome, although they've changed it for some items because of people who would return TV's that were 10 years old and get all their money back. As far as food goes, if I'm leery of buying a huge amount of something that I might not like, I can just return it if it sucks (which I've never had to do).
The only maddening thing about Costco is that sometimes you'll grow accustomed to them having a certain item and they drop it. Then I have to go to the grocery store and pay 4 times more for it. Bring back the 4 pound tubs of yogurt and the macadamia nuts in my area!- jbmcb, on 11/19/2008, -0/+5Costco + vacuum sealed bags + high efficiency deep freezer FTW
Also great:
Kirkland Signature brand shirts - ridiculously good for $17
Kirkland brand green tea - It's OEMed good quality stuff
Kirkland brand wine - as above
Kirkland brand batteries - As good as regular energizers, a fraction of the price - acknotSW, on 11/19/2008, -0/+4If you are talking about the ones that used to come in the gold can, I agree. Best ***** macadamia nuts I've ever had.
- publiclurker, on 11/19/2008, -0/+6I purchased a microwave from them that literally spent 6 months in the shop. It died 2 days after I get it back. I went back to them and explained that I only it for a total of 30 days out of the 90 day warranty period. They gave me my money back in cash. Service like that is why I gladly spend hundreds of dollars a month there.
PS. their rotisserie chicken is the best there is. - illegalcortex, on 11/19/2008, -0/+3I've been very impressed with their steak selection. It's very good quality and the prices are way better than any of the other grocery stores. I might feel bad if all those stores weren't big chains, too.
I probably make back my membership in contact solution alone.
- jbmcb, on 11/19/2008, -0/+5Costco + vacuum sealed bags + high efficiency deep freezer FTW
- stormofswords, on 11/19/2008, -0/+5I worked there and it was a great environment. The worst part was standing on the cement floors all day. That really, really took some getting used to.
- paridoth, on 11/20/2008, -0/+4you must have been a demo person, if you ever end up working at costco ask the cake decoraters about there gray floor mats they have so there feet don't hurt while they are decorating all day, they might not be using them or the bakery manager might be able to let you borrow one of them.
- Hillsfar, on 11/20/2008, -0/+2Demo ("free sample") folks are outside contractors.
- paridoth, on 11/25/2008, -0/+1whats your point, and not always, sometimes we do our own demos when they are short people.
- paridoth, on 11/20/2008, -0/+4you must have been a demo person, if you ever end up working at costco ask the cake decoraters about there gray floor mats they have so there feet don't hurt while they are decorating all day, they might not be using them or the bakery manager might be able to let you borrow one of them.
- EcoLogic, on 11/19/2008, -17/+2I think that it's great that companies like Wal Mart and Costco are starting to clean up their acts in terms of how they treat their employees and communities. The next, and very important step, is for them to put pressure down their supply chains for their suppliers and subcontractors to treat the people who make the products they sell better.
- starbuxadct, on 11/19/2008, -0/+24Costco doesn't have to 'clean up their act', they have always acted responsibly when it comes to treating their employees like human beings and selling a good product.
Walmart on the other hand... Not sure why you mention them... They are one of the last companies that I would EVER think were 'cleaning up their act'... In fact. I'm pretty sure I've read many things to the contrary.
- starbuxadct, on 11/19/2008, -0/+24Costco doesn't have to 'clean up their act', they have always acted responsibly when it comes to treating their employees like human beings and selling a good product.
- madmaxmedia, on 11/19/2008, -0/+13You know, we were debating whether or not to renew our Costco membership the other day- we don't shop there too often so it's sort of a judgment call. I've read similar articles like this on their business operation, and this one has convinced me to go ahead and renew.
It's great to see a company figure out a win-win scenario for customers, employees, and the company alike. (I guess it should actually be 'win-win-win'). - spyd3rweb, on 11/19/2008, -18/+2Looks like someone paid for a front paging of this story.
- gospe1337, on 11/19/2008, -4/+3Isn't the Wal-Mart argument still true for CostCo regardless if they take care of their employees better? That is, the destruction of local business and support of foreign goods for a "low price".
- TheFinaleofSeem, on 11/19/2008, -1/+8They're not clobbering the manufacturers for special deals and lower prices on goods than anyone else, leaving other businesses with higher costs.
- jbmcb, on 11/19/2008, -0/+8Costco is a different business model. You go there for staples - potatoes, coffee, flour, canned goods, stuff like that. They get that stuff from the same place the local stores do. I still go to the local produce market and butcher for quality vegetables and meat.
- madmaxmedia, on 11/19/2008, -0/+5They may beat out local businesses, but they give their employees a good job.
As far as support of foreign goods, that depends on what particular products we're talking about. A lot of what they sell is the same stuff you'd buy at another store, which could be made anywhere. (I don't know where Bagel-dogs come from.)
A lot of their Kirkland stuff may come from China (especially say furniture), but likely most competing products does too. - Speed, on 11/19/2008, -0/+6But they aren't getting low prices by requiring the manufacturer to lower the price to them, they just refuse to mark up goods more than 15%.
- illegalcortex, on 11/19/2008, -0/+2Unfortunately, it's really too late for that. You're not going to get a Costco in an area unless it's already been infiltrated by all the big box stores - Wal-Mart, Target, big chain grocery stores. The only ones they are undercutting are other big chains that treat their employees like crap.
- toetagger, on 11/19/2008, -0/+14There's a Sam's Club 1 mile from me and the Costco is 12 miles from me. I shop at Costco.
- stigmataman, on 11/19/2008, -0/+5I had a few months work here before I went to college, and I have to say it wasn't too bad. I was just schlepping carts, but the hourly wage was more than double what I was making before and there's nothing better than being able to go around to the free samples for lunch.
- xerodustrial, on 11/19/2008, -0/+8You know, I've never actually set foot inside a CostCo.
After reading this interview though, I might.- publiclurker, on 11/19/2008, -0/+3Make sure you have a lot of storage space. While you get a good deal on four dozen rolls of bathroom tissue, it's hard to find a place to put it all.
- Speed, on 11/19/2008, -0/+3This is how to run a company. You reading this Galen Weston? (The CEO of Loblaws, which is the company that owns The Real Canadian Superstore)
- alihahd, on 11/19/2008, -0/+6Most of the time, listening to the NPR Marketplace/Business reports, it seems like Capitalism simply cannot brook generosity. Reading this sort of article is the beacon of hope in all that (deserved) negativity.
/off to Costco for some delicious pizza - J3553, on 11/19/2008, -0/+10i used to work at costco. it's flat-out the best retail chain to work for. i say this without hesitation after working for best buy.
- nycjap, on 11/19/2008, -0/+10I'm suddenly overcome by an overwhelming urge to buy an 80-roll pack of toilet paper and a 6-gallon jug of pickle relish. Why is that?
- fapfapfap, on 11/19/2008, -0/+6Another great thing about Mr. Sinegal is that he doesn't draw a multi million dollar salary.
And has noted in the past he thought that it was outrageous about the amounts some CEO's are compensated. - charters14, on 11/19/2008, -0/+7i love hearing stories like this...I wish more companies followed this model of CSR, seeing as it actually benefits the shareholders as well as the stakeholders involved in the corporation. My finance professor would vehemently disagree with me on this and say that this is just a fad and in the long run hurts shareholders (corporations in the long are shackled inextricably from their investors) but I think (I guess hope) as we progress into the 21st century the welfare of all of society will become a primary concern for investors and a symbiotic relationship between socially responsible corporations and shareholders will emerge...not to mention the countless examples of things like the skylights benefiting both society and creating economic value to the firm by reducing costs and enhancing their image with consumers
- diulei, on 11/19/2008, -0/+7*Gasp* A company that cares about its own employees AND customers is profitable? WHO WOULD HAVE THOUGHT?!?
Other companies take note:
Treating customers well = returning customers = profit = win.
Treating employees well = loyal employees = less turnaround = less money wasted = win.
Also, having a CEO who is not completely detached from the rest of your employees also helps too. Maybe just a little. - illegalcortex, on 11/19/2008, -0/+4What I find really amazing is that I've yet to see a former/current Costco employee post a negative comment about the company. Imagine that with just about any other chain, even if they aren't particularly known for being crappy employers.
- Talula79, on 11/19/2008, -0/+4I absolutely love Costco.
My husband wants to move to a little town in Illinois (I live in San Diego and have 5 or 6 Costcos within an hours drive) and I checked out how far the local Costco was. I told him he better start writing letters to the company because Costco is a two hour drive away and I will not be able to live with that! - Neiby, on 11/19/2008, -0/+5I was so impressed by that interview that I decided to get a membership there. We have one less then a mile away from where I work. I definitely want my business to go to companies like that.
- mattrmcg, on 11/19/2008, -0/+4Costco: awesome place to work
That and I constantly hit up their 1.50 soda and hot dog combo- illegalcortex, on 11/20/2008, -0/+1Fun bonus - buy a bag of chips. A big bag. You get drink, hot dog and chips for less than five bucks. And you get a big bag of chips left over for later.
The only flaw in the plan is that frequently the lines are gigantic at lunch. Though I've noticed that the new self-checkout lines are usually MUCH quicker.
- illegalcortex, on 11/20/2008, -0/+1Fun bonus - buy a bag of chips. A big bag. You get drink, hot dog and chips for less than five bucks. And you get a big bag of chips left over for later.
- sbernhardt, on 11/20/2008, -0/+3More businesses should realize that consumers will spend their cash more readily at places that treat their employees right. I drive past a Sams AND a walmart supercenter to get to my Costco.
- Falldog, on 11/20/2008, -0/+4I love Costco, if only for their bulk OJ.
The only downside is that people don't know how to operate a shopping cart. Everyone thinks they're king of the isle and doesn't give a ***** who they block or cut in front of. - paridoth, on 11/20/2008, -0/+3Costco is Awesome, been working there since october of 2005 in the bakery, best job i have ever had allows me to live on my own and go to school despite the fact that i only work there part time. i love you costco!
- oldbluebox, on 11/20/2008, -0/+4Used to work for Costco as well.
Great Jim is a great guy, always has been and always will be. - Sisyphus9, on 11/20/2008, -0/+2Considering the current state of the economy, I'd be happy to invest in a company with a proven track record like Costco. I also shop there when possible - really great values on most products, and I'm glad my money isn't going to China via Bentonville.
- bean, on 11/20/2008, -0/+3Dugg because I like this Jim Sinegal's attitude.
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