Wednesday, July 20, 2005

How Costco Became the Anti-Wal-Mart - New York Times

I love Costco! I like that when I go there I never hear employees complaining about their job or supervisor. Customer service actually is. The quote below sums up what is wrong with our corporate structure. Profits are everything for the stockholders without looking at the long term effects. When stock prices start to go down, investors move on to another set of stocks, never paying attention to the destruction they have left behind. If everyone is making money, why should the shareholders have to make more? When did people who work for a living become second class citizens?

How Costco Became the Anti-Wal-Mart - New York Times: "Mr. Sinegal, whose father was a coal miner and steelworker, gave a simple explanation. 'On Wall Street, they're in the business of making money between now and next Thursday,' he said. 'I don't say that with any bitterness, but we can't take that view. We want to build a company that will still be here 50 and 60 years from now.'"

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