Monday, July 18, 2005

Not WalMart

Via Nathan Newman at TPMCafe, a story about Costco and its employee practices. Well worth reading.

Note, on the other hand, the comments of a Wall Street analyst:

Emme Kozloff, an analyst at Sanford C. Bernstein & Company, faulted [chief executive Jim] Sinegal as being too generous to employees, noting that when analysts complained that Costco's workers were paying just 4 percent toward their health costs, he raised that percentage only to 8 percent, when the retail average is 25 percent.

"He has been too benevolent," she said. "He's right that a happy employee is a productive long-term employee, but he could force employees to pick up a little more of the burden."

In other words, "sir, we feel that you are missing out on an opportunity to stick it to your workers. And that's what we are looking for here."

Why in the world would you want to be quoted in the NYT as saying that? Even that is your position, do you really want it in the public record?


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