Costco CEO: Raise The Minimum Wage

[Wyatt earp]

lol of course he wants the minimum wage raised. better that, then him being the bag guy and have to lower operating costs.

 

[g5000]

This just in: Burger King CEO sez McD's needs to pay its workers moar!

 

[Flopper]

Do I have to spell it out? Minimum wage is paid to the least skilled workers in our economy, mostly for entry level positions. Employers pay a premium for more skilled workers, so if you raise the minimum wage you will also raise their wages. This not only raises prices, it also increases unemployment among less skilled/experienced workers. If raising the minimum wage is such a great idea, why not make it $50 per hour?

Lose of jobs due to a minimum wage increase will occur only if the cost increase is more than the cost of cutting jobs. In many organizations today, cutting staff is not an option because reducing staff would reduce revenue. In this case, the cost increase has to be absorbed in other ways such as increasing revenue, other cost cuts, or reduction in profits.

Although there may be some price increases, it's not an across the board increase because different industries are effected differently. Some industries pay very few if any minimum wage. Others can't raise prices because of competition.

Although there may be some lose of jobs and their may be some price increases, reducing dependence on social programs and having less people in poverty is worth it.

 

[Avorysuds]

This is what I saw.

Costco pays above the min wage.

Costco's competition pays many employees at or just above the min wage.

Costco see's an opportunity to use Government to hurt a competitor.

Progressives love it because it's more Government power that impoverishes the people by making Wal-Mart cut hours/positions so later they can ignorantly blame conservatives for business's cutting costs to stay alive..

 

[KissMy]

This is what I saw.

Costco pays above the min wage.

Costco's competition pays many employees at or just above the min wage.

Costco see's an opportunity to use Government to hurt a competitor.

Progressives love it because it's more Government power that impoverishes the people by making Wal-Mart cut hours/positions so later they can ignorantly blame conservatives for business's cutting costs to stay alive..

Walmart gets property tax subsidies & other tax avoidances that it's competitors do not get. Walmart pays it's workers so little that most of them are on government dole so it's competitors taxes have to support their workers. Republicans believe that is politically correct so they stop, shop & worship at Walmart. Republicans subsidize Big Business & penalize small business. Republicans train workers to be government dependents. Republicans explode the size of government entitlement spending & dependency. That is the opposite of freedom.

Aldi & Costco sell items for less than Walmart, but pay their employees enough that they are not on the government dole. Walmart will not have to raise prices one penny to get off the government tit. Walmart made over $16 billion in profits last year & half of that was because we are subsidizing them.

 

[Flopper]

This is what I saw.

Costco pays above the min wage.

Costco's competition pays many employees at or just above the min wage.

Costco see's an opportunity to use Government to hurt a competitor.

Progressives love it because it's more Government power that impoverishes the people by making Wal-Mart cut hours/positions so later they can ignorantly blame conservatives for business's cutting costs to stay alive..

Walmart gets property tax subsidies & other tax avoidances that it's competitors do not get. Walmart pays it's workers so little that most of them are on government dole so it's competitors taxes have to support their workers. Republicans believe that is politically correct so they stop, shop & worship at Walmart. Republicans subsidize Big Business & penalize small business. Republicans train workers to be government dependents. Republicans explode the size of government entitlement spending & dependency. That is the opposite of freedom.

Aldi & Costco sell items for less than Walmart, but pay their employees enough that they are not on the government dole. Walmart will not have to raise prices one penny to get off the government tit. Walmart made over $16 billion in profits last year & half of that was because we are subsidizing them.

Walmart employees represent the largest group of Medicaid and food stamp recipients in many states, costing the taxpayer $1,000 per worker.

http://www.politifact.com/truth-o-m...rayson-says-more-walmart-employees-medicaid-/

 

[Avorysuds]

This is what I saw.

Costco pays above the min wage.

Costco's competition pays many employees at or just above the min wage.

Costco see's an opportunity to use Government to hurt a competitor.

Progressives love it because it's more Government power that impoverishes the people by making Wal-Mart cut hours/positions so later they can ignorantly blame conservatives for business's cutting costs to stay alive..

Walmart gets property tax subsidies & other tax avoidances that it's competitors do not get. Walmart pays it's workers so little that most of them are on government dole so it's competitors taxes have to support their workers. Republicans believe that is politically correct so they stop, shop & worship at Walmart. Republicans subsidize Big Business & penalize small business. Republicans train workers to be government dependents. Republicans explode the size of government entitlement spending & dependency. That is the opposite of freedom.

Aldi & Costco sell items for less than Walmart, but pay their employees enough that they are not on the government dole. Walmart will not have to raise prices one penny to get off the government tit. Walmart made over $16 billion in profits last year & half of that was because we are subsidizing them.

Walmart employees represent the largest group of Medicaid and food stamp recipients in many states, costing the taxpayer $1,000 per worker.

PolitiFact | Alan Grayson says more Walmart employees on Medicaid, food stamps than other companies

Sounds like Democrats need to hold Obama accountable for something and get big Corp off welfare....

 

[MostJadedGamer]

You know, he can pay his employees more if he wants. He doesn't need the governments permission to give his workers a raise.

Except it will help his company compete against other companies if other companies have to pay there workers more. Which is a very good thing for we the people. I don't know how anybody can be against people making a decent living.

 

[Flopper]

You know, he can pay his employees more if he wants. He doesn't need the governments permission to give his workers a raise.

Except it will help his company compete against other companies if other companies have to pay there workers more. Which is a very good thing for we the people. I don't know how anybody can be against people making a decent living.

If making a decent living means a reduction in corporate profits, the big corporations will be against it. It's that simple.

 

[tjvh]

Costco pretty much destroys the con argument, doesn't it?

I don't think so. I could be wrong, but I don't think Costco makes policy with regards to setting State's minimum wage. As I've said before, it is not the consumers responsibility to subsidize losers who choose to bang away at cash registers as a career choice.

 

[Obamanation]

In this argument the biggest key that we are missing is FREEDOM! Let these corporations follow their business plans, and before long you will see them change their plans to fit the best model. Either way, basic economic principals will be the winner as to whether it makes more sense to pay employees $7/hr or $11/hr --- having the gov't decide will only ensure a loss of freedom and possibly a loss of profits.

...and mom-n-pop convenience stores, groceries, gas stations will ALL LOSE OUT!

 

[KissMy]

In this argument the biggest key that we are missing is FREEDOM! Let these corporations follow their business plans, and before long you will see them change their plans to fit the best model. Either way, basic economic principals will be the winner as to whether it makes more sense to pay employees $7/hr or $11/hr --- having the gov't decide will only ensure a loss of freedom and possibly a loss of profits.

...and mom-n-pop convenience stores, groceries, gas stations will ALL LOSE OUT!

That is all a total lie. Mom & Pop shops do better when subsidies are cut & minimum wage rises.

 

[Noomi]

.
Most Costco workers have health insurance through Costco, and Costco paid their typical worker around $45,000 in 2011. Walmart-owned Sam's Club OTOH, pays its sales associates an average of $17,486 per year but-----but Costco has found that it's a lot more profitable in the long run to minimize employee turnover, maximize employee productivity, keep their employees healthy and-----and turn their employees into better consumers.

Win-win-win, Costco wins, Costco employees win, money circulates thru the economy/economy wins.


Costco CEO: Raise The Minimum Wage To More Than $10 Per Hour



President Barack Obama wants to raise the federal minimum wage to $9 per hour. And the CEO of one of America's largest retailers says such a move would be good for workers and businesses alike. In fact, he says raise it even more.

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."


<snip>
.

Sounds like a decent bloke to work for.

 

[Flopper]

In this argument the biggest key that we are missing is FREEDOM! Let these corporations follow their business plans, and before long you will see them change their plans to fit the best model. Either way, basic economic principals will be the winner as to whether it makes more sense to pay employees $7/hr or $11/hr --- having the gov't decide will only ensure a loss of freedom and possibly a loss of profits.

...and mom-n-pop convenience stores, groceries, gas stations will ALL LOSE OUT!

Well let's hope not. Small businesses employ 50% of the workers, make up 99% of the employers, and are responsible for over 500,000 new businesses each year.

 

[ClosedCaption]

You know, he can pay his employees more if he wants. He doesn't need the governments permission to give his workers a raise.

Except it will help his company compete against other companies if other companies have to pay there workers more. Which is a very good thing for we the people. I don't know how anybody can be against people making a decent living.

If making a decent living means a reduction in corporate profits, the big corporations will be against it. It's that simple.

I saw someone ask if its good then why doesnt Walmart do it. Answer is above. /end thread

 

[candycorn]

Costco pretty much destroys the cons' argument, doesn't it?

Not in the least. But you go ahead and think that.

As a comparison of successful businesses, a comparison of Wal*mart and Costco isn't even close.

Costco looses, hands down.

If you or anyone think that Walmart is a career job, you deserve to be poor. Success depends upon ones choices in life. A 30 year associate career at Walmart, or even Costco, is what is deemed as a mentally challenged outlook on life.

I don't think anyone sets out considering a minimum wage job at Walmart as a career choice but you have no right to assume that lots of people have had other choices. Feeling a little superior today?

It would be a shock to the system for a conservative to realize that the dynamics have changed.

What is always hilarious is how the stock and trade of the cons on this subject is that it won't make any real difference in the lives of those getting the extra money...but steadfastly reject it anyway even though it's supposedly a zero sum gain.

 

[Dubya]

Costco pretty much destroys the cons' argument, doesn't it?

Not really.
He tells us he starts his employees at over $11/hr.
Raising the MW won't effect him, will it?

It will, however, effect how much his employees pay for their 'value meals' (as just one example that comes to mind).
Do you expect McDonalds corp to increase their payroll costs by +/- 20% and just absorb that cost without passing it on.

The cost of a lot of goods and services will skyrocket.
Then what?
Raise MW to $15/hr to try to keep up?

Obama made a remark in his SoU address about a couple, both making minimum wage, having a hard time raising their children.
If you're a "couple" (married or not) and you're both working MW jobs,,,,why did you have kids?

Not enough salt peter in the gubmint cheese!

You cons worry about government intrusion in people's lives and come up with this bullshit about how the poor shouldn't have children. Is the process still a mystery to you?

 

[Jarlaxle]

You know, he can pay his employees more if he wants. He doesn't need the governments permission to give his workers a raise.

But he DOES want it, because it will increase costs for his competition! This is NOT complicated.

 

[Obamanation]

In this argument the biggest key that we are missing is FREEDOM! Let these corporations follow their business plans, and before long you will see them change their plans to fit the best model. Either way, basic economic principals will be the winner as to whether it makes more sense to pay employees $7/hr or $11/hr --- having the gov't decide will only ensure a loss of freedom and possibly a loss of profits.

...and mom-n-pop convenience stores, groceries, gas stations will ALL LOSE OUT!

That is all a total lie. Mom & Pop shops do better when subsidies are cut & minimum wage rises.

Well after a quick search and skim session, I have found AT LEAST as many people who are convinced, as am I, that Mom & Pop would be hurt the most...

So my entire post is ANYTHING but a total lie. I guess you are gonna have to prove it!!

You made the claim! So prove it!

 

[Obamanation]

Not in the least. But you go ahead and think that.

As a comparison of successful businesses, a comparison of Wal*mart and Costco isn't even close.

Costco looses, hands down.

If you or anyone think that Walmart is a career job, you deserve to be poor. Success depends upon ones choices in life. A 30 year associate career at Walmart, or even Costco, is what is deemed as a mentally challenged outlook on life.

I don't think anyone sets out considering a minimum wage job at Walmart as a career choice but you have no right to assume that lots of people have had other choices. Feeling a little superior today?

It would be a shock to the system for a conservative to realize that the dynamics have changed.

What is always hilarious is how the stock and trade of the cons on this subject is that it won't make any real difference in the lives of those getting the extra money...but steadfastly reject it anyway even though it's supposedly a zero sum gain.

Key word --- supposedly!!!!

I know, I know doesn't really matter as long as you are sticking it to the rich man!