Costco CEO Finds Pro-Worker Means ProfitabilityHigh Wages, Employee Benefits Build Loyalty -- and P.R. Ambassadors
story
This year's sales total more than $52 billion from 462 stores in 37 states and eight countries. Costco is now the nation's fourth-largest retailer, selling everything from crab legs to flat-screen TVs to caskets — and even a Picasso painting.
In an era when many CEOs are seen as greedy and sometimes corrupt, Sinegal is proving that good guys can finish first — and without all the corporate frills.
Sinegal is unfazed by his critics. "Wall Street is in the business of making money between now and next Tuesday," he said. "We're in the business of building an organization, an institution that we hope will be here 50 years from now. And paying good wages and keeping your people working with you is very good business."
story
This year's sales total more than $52 billion from 462 stores in 37 states and eight countries. Costco is now the nation's fourth-largest retailer, selling everything from crab legs to flat-screen TVs to caskets — and even a Picasso painting.
In an era when many CEOs are seen as greedy and sometimes corrupt, Sinegal is proving that good guys can finish first — and without all the corporate frills.
Sinegal is unfazed by his critics. "Wall Street is in the business of making money between now and next Tuesday," he said. "We're in the business of building an organization, an institution that we hope will be here 50 years from now. And paying good wages and keeping your people working with you is very good business."
posted by progressivegrannie at 3:14 PM
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