"Costco Proves Republicans Wrong By Paying a Living Wage and Watching Profits Soar"

[applegrove]

Costco Proves Republicans Wrong By Paying a Living Wage and Watching Profits Soar

By: Jason Easley at Politicus USA

http://www.politicususa.com/costco-proves-republicans-wrong-paying-living-wage-watching-profits-soar.html

"SNIP.................................................

Costco is proving Republicans and the Wal-Mart wrong by paying workers a living wage while also earning record profits.

While Wal-Mart experienced February sales that were considered, “total disaster,” Costco’s earnings for the second quarter of the year climbed 39%. The New York Times reported, “Costco Wholesale’s net income for its second quarter climbed 39 percent as it pulled in more money from membership fees, sales improved and it recorded a large tax benefit.”

Costco CEO Craig Jelinek openly supports raising the minimum wage to $11.50 an hour, “At Costco, we know that paying employees good wages makes good sense for business. We pay a starting hourly wage of $11.50 in all states where we do business, and we are still able to keep our overhead costs low. An important reason for the success of Costco’s business model is the attraction and retention of great employees. Instead of minimizing wages, we know it’s a lot more profitable in the long term to minimize employee turnover and maximize employee productivity, commitment and loyalty. We support efforts to increase the federal minimum wage.”

Costco is proof that the Republican idea that labor must be stomped on in order for our economy to prosper is wrong. It is possible for companies to earn record profits while respecting their workers and paying them a living wage. Wal-Mart embodies the conservative ideology that the country functions best when wealth is concentrated at the top. To match the Walton family’s fortune, an average Wal-Mart employee would have to work for the company for 7 million years. This model is what Republicans are advocating for the entire country, and it is failing to lead to prosperity

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[CalFresh]

1. Great quarter for

Costco. The huge run in gasoline prices, the extra 10% for new memberships, and a huge 68 million dollar one time tax brake had more to do it. But as a stock holder I love it.

[Ruby the Liberal]

2. Someone who gets it.

Craig has always maintained an attitude of building the economy from the ground up. I hope his business continues to prosper - and I love being a member.

[applegrove]

3. People in Canada are definitely more loyal about Costco than Walmart. Nobody admits to shopping at

walmart.