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![]() This little newsbit exemplifies the difference between the stingy greed of the south and the Walton family vs. the North(west) and the common sense of the founders of Costco... "On Tuesday, Costco CEO and President Craig Jelinek came out in support of the Fair Minimum Wage Act of 2013, which aims to raise the federal minimum wage to $10.10 per hour, then adjust it after that for inflation. "At Costco, we know that paying employees good wages makes good sense for business," Jelinek said in a statement. "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," Jelinek added. "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 has a reputation for paying its employees above market rate, with the typical worker earning around $45,000 in 2011, according to Fortune. Walmart-owned Sam's Club, in contrast, pays its sales associates an average of $17,486 per year, according to salary information website Glassdoor.com. Costco also provides health insurance to a significantly larger percentage of its workers than does Walmart, the Harvard Business Review reported in 2006." .... Consequently, Costco employees don't cost the taxpayers additional money through supplimental needs like food stamps and health care delivered through emergency rooms, like so many Walmart employees. I have both family and friends who work at Costco and they say the company is both fair and reasonable and expects employees to do their best, which shows up in how the stores are run and how customers are treated. This is how American business should be run. Another NW founded company, Nordstom, works the same way. A fair wage for a good day's work. They stand with their employees. |
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