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Thursday, July 21, 2005
Costo Hates Wal-Mart
Via Oliver Willis:
In this article from the NYT's, Jim Sinegal, the chief executive of Costo Wholesale asserts that;
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 that low prices do not come at the workers’ expense. “This is not altruistic,” he said. “This is good business.”
What a concept, treat your employees right and in turn they will treat you clients right. And to boot the average employee at Costo makes $17.00 an hour.
Posted by The Bastard at 02:57 AM in Sidebar | Permalink
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Comments
I don't see Costco giving nearly as much back to the local community as Wal-mart does. Frankly, I don't shop at either - local supermarkets are where it's at. Instead of consistently focusing on the negative, try the positive once in a while :-)
Posted by: Todd | Jul 21, 2005 11:37:12 AM
Giving much back? By paying their employees a good beginning salary and providing decent medical coverage they don't need to give back. Dman isn't that what the conservatives call an "ownership society"?
The workers get to choose what to do with their hard earned cash not the politicians with the tax free incentives.
Damn that really was a warped comment!
Posted by: The Bastard | Jul 21, 2005 1:01:03 PM
I agree with TB. Wal-Mart does give back to the community but in "Oh look at me and how generous I am" type of way. Costco pays a living wage, has employee benefits vs. a donated parking lot...hmmmmmm!
Posted by: sally | Jul 21, 2005 6:02:06 PM
Ultimately Wal-Mart has taken more from the community than it has ever given back in its PR campaign - by beating down vendors so far that even at rock bottom they still argue for percents of a penny, that manufacture had to start using overseas labor and customer service.
Posted by: Billion Year Old Carbon | Jul 23, 2005 11:38:38 AM
The irony of this whole thing is that with China "somewhat" floating their currency Wal-Mart is gonna be one of the hardest hit with price increases because of the increase in production costs for three quarters of the crap they have on their shelves that is imported from China!
Posted by: The Bastard | Jul 23, 2005 1:50:03 PM
The reason why benefits are better at Coscto than Walmart (not Sam's Club) is because they charge an annual fee to take it advantage of low prices where Walmart just has low prices. Plus most of the stuff you buy at Costco is packaged in such huge bulk you have to buy a lot whereas Walmart breaks stuff down smaller.
Walmart sucks anyway, shop at Target.
Posted by: steve | Jul 24, 2005 12:38:41 PM
