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July 24th, 2005

Fuck Wal-Mart

Today's New York Times has a wonderful article showing how low-cost retailers don't have to follow the Wal-Mart model and can pay their employers a real honest-to-God living wage with health benefits.

But not everyone is happy with Costco's business strategy. Some Wall Street analysts assert that Mr. Sinegal is overly generous not only to Costco's customers but to its workers as well.

Costco's average pay, for example, is $17 an hour, 42 percent higher than its fiercest rival, Sam's Club. And Costco's health plan makes those at many other retailers look Scroogish. One analyst, Bill Dreher of Deutsche Bank, complained last year that at Costco "it's better to be an employee or a customer than a shareholder."

What an ass-hole. You know, there's more to life than just making money -- it's also about how you treat other people. Is Costco making money? Yes. Are it's employees making a good living? Yes. If you don't like, then dump all your investment cash in Wal-Mart where they'll make you lots of money while they pay their employees shit wages, treat women like second-class citizens and rely on illegal immigrant labor to keep their costs down.

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