FORTUNE: The Only Company that Wal-Mart Fears....

[loudsue]

This is a great story on the AOL front page today. I say we give Costco our support!

http://www.fortune.com/fortune/investing/articles/0,15114,538834-1,00.html

<snip>

"James D. Sinegal, the president and CEO of Costco, has no palace guard and no profile to speak of, particularly compared to a retail legend like Sam Walton. Yet he's the guy who in 20 years has taken Costco from a startup to the FORTUNE 50 using, as surely as Mr. Sam, highly distinctive practices. He caps Costco's markups at 14% (department store markups can reach 40%). He offers the best wages and benefits in retail (full-time hourly workers make $40,000 after four years). He gives customers blanket permission for returns: no receipts; no questions; no time limits, except for computers—and even then the grace period is six months."

I'm going to start buying everything I can from them!

:kick::kick::kick:

[Catch22Dem]

1. I don't have one here

:(

[yankeeinlouisiana]

4. You can always order online!!

www.costco.com :-)

[burythehatchet]

31. Thanks

I visited and I liked

[karlschneider]

33. Nor here either...not a single one in Oklahoma! :-(

:grr:

[donsu]

2. kick

nt

[AP]

3. I believe they donate money to Democrats too.

People think big is bad. But, if it's cutting costs and it's the best way to sell shit in a society as big as ours, it can be good. If their customers are able to save money and spend it more productively, that's great.

[PROGRESSIVE1]

5. Mr. Sinegal is a BIGTIME Democrat....

and he saw the 1994 "Republican Revolution" as a threat to our country.


:dem:

[sujan]

11. yep

100% to dem according to this

http://www.opensecrets.org/industries/contrib.asp?Ind=N03

[VolcanoJen]

13. sujan, that is a great link!!!

I've nosed around opensecrets.org before, but I had no idea you could look up corporate donations. It's fascinating!! It also really helps me decide where to eat and shop from now on.

For example, Sonic Burger gave 100% of their donations to Democrats. Interestingly enough, so did the Detroit Lions!! Hyatt Corp. gave 75% of their money to Dems, and that's good enough for me. Reebok gave 96% to Dems!

Great link, sujan. Thank you!!

[sujan]

18. so does Paul Allen

The real hacker behind MSFT.

[loudsue]

15. Wow! Home Depot just lost any sale of mine!! Good link!

I wish we could see major boycotts against those repuke orgs.! I'm sick of paying my hard earned money to support the likes of shrub, delay, asskrotch, and santorectum.

:kick:

[sujan]

19. You'll be surprised by this

see news corp

http://www.opensecrets.org/industries/contrib.asp?Ind=C2300&Cycle=2004

[TahitiNut]

26. Here's why conservatives freak out about "liberal media" ...

http://www.opensecrets.org/industries/contrib_img_popIMG.asp?dat1=10133484&dat2=160349&type=2

(See http://www.opensecrets.org/industries/contrib.asp?Ind=C2300&Cycle=2002)

We must remember that the "individual" donations are from (uhhh) individuals... and count donations of $200 or more. This includes people in the trenches ... and, for media, the "talent" (folks on screen).

[metisnation]

38. finally

I am going to get a membership tomorrow

thanks for the link!

:kick:

[KayLaw]

6. Question

Do I need to be a member to Christmas shop there?

[w4rma]

8. Yes (n/t)

[Lorien]

44. $40 a year, but you get 1 card for a friend

as well. I just take a buddy with me every year so it costs us each $20. Well worth it-I save that much every year on pet food alone! Do most of my Christmas shopping there too.

[GainesT1958]

7. My wife's aunt and uncle in Northern Va. swear by them...

Unfortunately, the closest one to us is a 2 1/2-hour drive up the road to Durham...though I hear that may change within the next year. I sure hope so...sounds like a winning formula to me, especially for his employees! :D

And if he's a big Dem. contributor; well, he can't bring one here soon enough! :7

B-)

[Kitsune]

9. Longtime Costo-er

I love them to death, I just wish they'd add an express line for when I'm NOT buying enough stuff to supply all of Luxeumbourg. XD

Also, they have very nummy pumpkin pie. ^^;;

[sujan]

10. I shop at costco

Their Mango Salsa rocks.

[loudsue]

12. Glad to know there's one in Durham, NC...I'm going to join!!

This is the kind of article I wish everyone could read, so they would realize how the 'walmartway' IS NOT the most successful way....it's just the greediest way.

Anyt company, these days, that supports their employees, is going to get my $$.

Does anybody have a list of companies that still treats their people like real humans??

:kick::kick:

[DesignGirl]

14. Sam's Club Copy

Interesting that Wal Mart copied the idea and created Sam's Clubs.

[loudsue]

16. Waltons are too busy counting their money to think of anything new.

Greedy bastards.

:kick:

[Raster]

42. I won't spend a dime in wal-FART or any one of their spawn...

...FUCK 'EM!

[THUNDER HANDS]

17. they are 10000x better than Wal-Mart.

We have two of them on Long Island and they are awesome.

[sujan]

20. do they allow labor unions?

[Noordam]

21. I hate to say this but IF you treat your employees good

you do not need a Union.

[w4rma]

22. Costco seems to encourage unions.

…
Other retailers began to investigate and imitate. One was Brotman, who wanted to start warehouse clubs in Seattle and in 1981 recruited Sinegal from Price Club to run Costco.
…
In 1993 Costco bought Price Club.
…
Axiom No. 3: Take care of your employees. Sol Price actually invited unions in to represent Fed-Mart and Price Club workers. Following suit, Costco pays the top wage in retail, starting employees at $10 an hour. In the minds of Price and Sinegal, high wages yield high productivity, low turnover—Costco's is a third of the retail industry average of 64%, according to the National Retail Foundation—and minimal shrinkage; that's retail-speak for theft, which at Costco is about 13% of the industry norm.
…
http://www.fortune.com/fortune/investing/articles/0,15114,538834-2,00.html

IMHO, IF you treat your employees good you'll encourage unions.

[Occulus]

27. I'm a Union guy-

and BINGO.... you're completely right.

"The only things worse than the existence of Unions are the conditions that brought them into being." -anonymous

In a very real way, it's true. People died to get decent working conditions to become the norm rather than the exception. If bosses are benevolent, no unions needs to form. Thw rokers already have all they desire.

Four years to forty grand? Wow. I work for USPS, and have done for over six years, and I'm still in the upper 38's. By contract, BTW- no raises for good performance.

I wonder if there's one 'round here....

[sujan]

28. well figures they do allow unions actually

so icing in the cake. Good for them.

[loudnclear]

23. Cancelling my Sam's Business Credit Card and will never shop at Wal-Mart

again. I will buy only from Costco and K-Mart. It's just my own little bit of fighting back. I have also gotten most of my family to forego any huge purchases from now until after the next election...even for the holidays. We are behaving as though we are going through rationing and economic depression. We have made a pact with each other (47 family members so far) that we will purchase only necessities and the minimum healthy foods we need. We are banking all those extra dollars that we would normally use for Christmans, birthdays, vacations, cruises, etc. even got some relatives to stop buying lottery tickets (although, the PA lottery does a lot for seniors...I am sure most family will not really stop this). No more snacks, eating out, fast food, etc. We tried to get our little town to go along but most were not willing to give up their luxaries. Anyway, this is our little contribution. It's only a ripple from a little stone, but we all know what ripples look like when the pebble first touches the water.

[sujan]

24. I like k-mart

They seems to sell more quality products for the same price as walmart.

[reprobate]

25. I even bought my new car thru them.

I saved 9% off sticker, with no haggling. Very happy with the purchase.

We have been Costco members for five or six years now. We enjoy walking thru on the weekend to see what's new on the shelves. We have never had a bad buying experience. If you're unhappy with a puchase you just take it back. No questions asked. No arguement.

It's nice to be treated like a human being in a retail situation.

[DulceDecorum]

29. The Highest Compliment from Wall Street

Analysts have pounded on Sinegal to trim the company's generous health benefits and to otherwise reduce labor costs. But he's taken only limited steps in that direction, like modestly increasing employees' share of health-insurance premiums. That doesn't satisfy critics like Deutsche Bank analyst Bill Dreher, who recently wrote, "COSTCO CONTINUES TO BE A COMPANY THAT IS BETTER AT SERVING THE CLUB MEMBERS AND EMPLOYEE THAN THE SHAREHOLDER."

Sinegal just shrugs. "You have to take the shit with the sugar, I guess. We think when you take care of your customer and your employees, your shareholders are going to be rewarded in the long run. And I'm one of them ; I care about the stock price. But we're not going to do something for the sake of one quarter that's going to destroy the fabric of our company and what we stand for."
http://www.fortune.com/fortune/investing/articles/0,15114,538834-1,00.html

It doesn't get any better than that.

[Raster]

41. and you know the reason COSTCO will continue to be so successful...

...is that they will continue to serve the members and the employees better than the shareholders.

American business, for the most part, just doesn't get it. Try to please the shareholders and you end up pleasing a fickle, short-sighted group of greedy wonks that can only see past the next quarter. Keep your customers and employees happy and reap the benefits.

My sister and bro-in-law have worked for COSTCO for 15 years. They love it. Right on, COSTCO!

[dArKeR]

30. My girlfriend and I literally bumped into Jim at a new store opening.

He goes to every opening no matter the country. He looked like a shopper. I backed into him and then said excuse me. He was just like a grandpa kind of guy. The only reason I recognized him was because on opening day Costco passes out a little pamphlet which has a blurry black/white pic of him and my girlfriend and I had just read it seconds before. We both said, 'hey, you like a little like this guy in this picture.' We laughed. We talked for about 10 minutes. He had no security. Only the store manager accompanied him. Then we went back and ate the free buffet they have on opening day. Really really nice person!

[BuckeFushe]

32. Love Costco, was there today, 7 year mamber

Got 2 pair of great winter gloves, Duracell Ultra AA batteries, Prilosec ($22 for 42 days, used to have to pay $135 for 30 days prescription) A PC game, 12 pak of gum, battery operated GE flouresecent lantern. $72 bucks.

Can't beat Costco with a stick, and the people there are helpful and friendly.

[bleedingheart]

34. wow...I never knew this...now I have found a place to shop

[PVnRT]

35. Incredible

A CEO who caps his salary at a modest level (for a CEO, hell, even a high-level manager anywhere else) and is dedicated to treating employees well and providing them benefits. And he kicks the Waltons' asses. I like him already.

[GinaMaria]

36. Best Apple pie

I've ever had is from Costco. Yummy. Can't describe it. It kinda carmalizes in the middle. I've never found anything that compares. Love Costco.

[Raster]

40. it's very good, but loaded with trans fats, as all most baked goods are

I should say "most commercial baked goods are."

[Lorien]

45. Yeah, I brought some to a thanksgiving dinner

a few years ago (30 or so people) and everyone went wild over them! I'm known for my tasty baked goods, so it was kind of embarrassing to tell them that this time the pies were from Costco!

[tkulesa]

51. I agree. Yum

I can't go into a Costco without buying one of their apple pies. But those things are HUGE. It takes me forever to finish one of them.

[belab13]

37. I'm with you brother. boycott walmart.

[Jazzgirl]

39. We have one here in Arlington, TX.

I joined it two years ago. I always had a Sam's card but after going to Costco I let the Sam's card go. I really like Costco a lot better. Quality of food is better and the people are friendlier.

Jazzgirl

[Fleshdancer]

43. Costco it is then!

be sure to tell friends and family too.

[fortyfeetunder]

46. Yeah, Costco is da bomb

Been a member for about 15 years. Seattle area (Costco's HQ) has at least a dozen in the area, so it's easy to get spoiled. I shop there at once a month. It helps because to buy in bulk to reduce my other grocery shopping trips

Every time I go on vacation I look for the closest Costco to my destination...not necessarily to buy food, but for 1 hr photo or buy film. Though it is fun to see what I can buy in those locations!!!

[Tom Yossarian Joad]

47. Been a member since they opened here. I buy 90% of everything I use

there. I switched to their "Gold Club" membership after I found out I had spent 20K over the last two years. Gas, Cigs, computer peripherals, food and clothing. It adds up.

I have been sold on Costco for quite some time now.

[loudsue]

48. Good Gawd! Has anybody noticed how POSITIVE this thread is??

:bounce:

I LOVE IT!!!

:bounce:

I haven't seen so many positive responses to "news" in probably 18 months on DU! And to think this tidbit was one of the lead news flashes on ....of all things....AOL!

This is the type of news that is good for AMERICANS!! Why in the world don't corporations get it? We rally and support businesses that represent the welfare and best interests of THE PEOPLE. Stores want "loyal customers"...HERE'S how you get loyal customers. Stock holders of big corporations, many of whom aren't even from the U.S., "hate our freedoms", as chimpy would say of terrorists.

A new paradigm needs to arise in our country about pleasing stockholders at the expense of the populous. Treating your employees and customers well is basic to what I was raised to believe made capitalism "great".

:kick::kick::kick::kick::kick:

[Walt Starr]

49. My wife and I let our Sam's Club membership lapse while

waiting for the new Costco less than two miles from our house to be built.

We now do most of our shopping there.

[nolabels]

50. They have a lot of staples, but the thing l like most about them.........

Is the special deals they have on bulk things you might not normaly put in the shopping cart. It's kind of fun, like walking into a giant grab bag.

[David__77]

52. We're switching from Sam's Club to Costco.

We have a Sam's Club membership because my spouse's mother gave her second membership to him. We're going to switch when the new Costco near our home opens.