Originally Posted by
Cycle Pilot
You can be ethical, take care of your employees, AND make money...
Costco CEO Jim Sinegal - YouTube
Unfortunately, he announced his retirement this year at 75. Hopefully, they can continue what he started.
It is easy to do that with the pricing structure he employed. They had a flat markup on everything they sold. My recollection was a 10% margin.
COSTCO= China Off Shore Trading Company!
In reality I really like the model. The checkers make 15 bucks an hr to start, and the dept managers are well in to six figures. Store managers are mid to upper six figures. Great store, but they do target the 100K plus crowd.