Let's Hear it for COSTCO

Let's hear it for Costco, a company that knows that well paid workers are a good investment.

See the Washington Post article.

I don't generally like big box discount stores because they erode small family-run stores. But I will make an exception for Costco.

Jim Sinegal, the co-founder of Costco gave a nifty speech at the Democratic convention in support of Obama and the Democratic Party.

I have noticed in the past that Wall Street gets very angry with Costco because Costco pays their employees too well. Wall Street wants Costco to slash pay to near or at minimum wage so the lazy, greedy stockholders can make even more money whilst sitting on fat, lazy arses.

Costco refuses to slash wages because they know that the store succeeds because the staff is really good, motivated, and appreciates being well paid. I suspect that if Costco bowed to the greed of Wall Street and replaced their experienced staff with minimum wage beginners that the store might actually suffer and go down the drain because the stores would start to function really badly. The amazing produce would start to be stale and mushy, the great deals on computer items would start to be for worthless old junk. For about 6 months the stockholders would make money. Then the store would start to decline and soon die.

Jim Sinegal knows what even Henry Ford (that very very right wing SOB) also knew: well paid workers can buy things. 

So I am going out to get a Costco card and go out of my way to shop there.