Costco is one of the largest contributers to the Democratic Party, particularly to the more socialist/communist leaning candidates.
At least we can say Sinegal puts his money where his mouth is, even if he misses the irony that it is a capitalist society that allows him to foster his pro-worker environment.
So if Costco's stock price has risen 10% in the last twelve months(and beating WM) at the same time giving their employees respectible wages and decent health care coverage what is wrong with that?
WMTs stock first hit $50 a share, adjsuted for splits, in 1998, it is still at $50 a share today. Wall Marts reputation is quite poor for customer service, and it has taken a large PR hit for its ruthless tactics in terms of how it does business, not to mention how favorable towrds China they are. There is going to be a point where the bad PR of Wal Mart is going to take a toll, and shareholders will get even less value.
While CSCO are notel citizens themselves, and are also quite ruthless is how they do business, they have not sustained the big PR hits Wal Mart has, because usually Costco backs down when an "issue" becomes high profile, such as employment practices. That said, Costcos political practices are very bad.
I won't get into the relative virtues of Costco and Walmart's. There's something to be said for both, as stores.
What's clear is that the media have run an enormous campaign criticizing Walmart as a demonic organization and praising Costco as a wonderful organization.
Who can doubt that this is typical MSM lies with a hidden agenda? They attack Walmart because it donates to Republicans, and they support Costco because it donates to Democrats. The real problem is not with Costco or Walmart, who are entitled to give to the politicians of their choice. The real problem is with the lying scum in the media, who manipulate the facts to support their leftist agenda.
This is obvious enough if you think about it, but even conservatives have been taken in by media propaganda. For example, they say that Walmart is unAmerican and sells only Chinese goods. I doubt whether Walmart sells more Chinese goods than anyone else, because cheap Chinese goods are everywhere. Walmart's real sin is supporting a Republican administration that the Democrats hate for keeping them out of power.
I do appreciate Costco's book selection. They are very willing to carry conservative books.
I was a very loyal Price Club/Costco shopper in Arizona and was happy to see them move here to NC not long after I did. But then came the last election and their support for the Dems was outed (at least for me). Though I like Costco better, I had no choice but to switch to Sam's Club. I was just shopping at Sam's about an hour ago over my lunch break.
I don't shop at the blue zone Costco OR Chi-mart.
Noting wrong with being pro-worker. In fact it is very capitalist to take care of all your resources, especially the people.
So what? WalMart is a GOP contributor, but it also has put in place ultra-liberal policies to exclude any contractor which does not have a specific level of racial diversity. They are canning firms across the nation uless they have top management which has blacks, hispanics and women.
I will never shop at WalMart again.
btt
The whole article is available at How Costco Became the Anti-Wal-Mart
Actually, I'd say this statement tells one of three stories: 1) Costco stock is overpriced; 2) Wal-Mart stock is underpriced; or 3) Costco simply has more growth potential because Wal-Mart already dominates the retail market in many geographic areas.
They may be communists, but at least they're OUR communists!
Umm...so you're assuming that it's axiomatic that capitalism is anti-worker? If so, how can it ever be sold as an organizing principle of a democratic nation? Most people are workers, not owners, at least for the majority of their income.
I actually don't agree that capitalism is of necessity "anti-worker", and I could list the reasons and arguments, but it would be interesting to read your response.
That said, I don't shop at Costco, largely because it reminds me of a cave.
But the wife apparently lives there, if I'm to believe the receipts!
I don't find that the staff at costco at the registers, or on the floor, is any better for their higher pay then anywhere else. I do however appreciate that people who handle food - butchers, bakers, cooks - earn decent salaries. I would never buy any prepared or handled food item, fresh fruit, meat or vegetables, at a walmart or a sam's club. no way.
as far as the presentation within the store itself - the newly constructed BJs beats them all.
Note to Bentonville: its called American Express, and you might have heard of them. About 6 years ago, Costco was the same way, Discover, debit, or piss off. They must have read my mind because it didn't take them long to dump Discover and go with Amex, and my purchases went up accordingly. What's the point of all this, I guess there is none but I do miss Costco and their $1.50 dog n soda deal.
It must really gall you super-capitalists that someone might want his employees to take part in the success he has had.
I took a dislike to Wal-Mart years and years ago...when Hillary was still on the Board of Directors.