Economy robust, middle class income dropping?

[lamberts-lost-tooth]

Originally Posted by Jeremy

The CEO of Google is also a socialist.

I'm sorry...does that negate his or Costco's concern for their workers? I thought you had said that you had heard of NO CEO that has concern for their workers?

[Jeremy]

Originally Posted by lamberts-lost-tooth

I'm sorry...does that negate his or Costco's concern for their workers? I thought you had said that you had heard of NO CEO that has concern for their workers?

No, it was just some gee wiz info for you.

You guys proved me wrong. But like you said, there are good CEOs and bad CEOs.

[lamberts-lost-tooth]

Originally Posted by Jeremy

No, it was just some gee wiz info for you.

You guys proved me wrong. But like you said, there are good CEOs and bad CEOs.

Check out Costco's way of doing business...it really is remarkable!!!...they are so "on the money". We had to convince management here of the very same concepts....Raise the base pay..and you will not only get a better quality of potential employee and therefore be more effecient...but you also will end up saving money on training by cutting back on attrition.

[Hammer67]

Originally Posted by lamberts-lost-tooth

CEO's of Google say the same thing....and CEO Jim Sinegal of Costco is also all about the workers. After three years a typical full-time Costco worker makes about $42,000, and the company foots 92% of its workers’ health insurance tab.
82% of their workers are non-union.

He says “From day one, we’ve run the company with the philosophy that if we pay better than average, provide a salary people can live on, have a positive environment and good benefits, we’ll be able to hire better people, they’ll stay longer and be more efficient.”

A 2004 Business Week study ran the numbers to test Costco’s business model against that of Wal-Mart..... The study confirmed that Costco’s well-compensated employees are more productive.

The study also revealed that Costco’s labor costs are actually lower than Wal-Mart’s as a percentage of sales.... Its labor and overhead costs are 9.8% of revenues, compared to Wal-Mart’s 17%.

By compensating its workers well.... Costco also enjoys rates of turnover far below industry norms. Costco’s rate of turnover is one-third the industry average of 65%

A little homework will show that their are good/bad CEOs just like anything else in life.

I find this fascinating. I did read an article recently discussing the changing corporate culture and how the days of the CEO's getting golden parachutes are waning...

Of course there will be poor and bad CEO's, just like at any other position. But they wouldn't get paid as much as they do if there wasn't some worth to the position. When you are in charge for the entire direction of a public company, that's a lot of stress and responsibility.