Higgins ([info]higginsdragon) wrote,
2005-07-20 00:19:00
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Greed is a disease

Is being generous good for business?
Costco CEO profits as he offers top pay, benefits

I appreciate Costco more than ever now, and think I'll hafta either bug my roommate for his card (hey Arokh!) or better yet just go and buy a membership myself. I knew they were a "blue" company, ideologically speaking, and the CEO just makes me smile and gives me warm fuzzies. He proves that a corporation doesn't have to be pathological to survive.

What really irks me though are what some of the Wall Street analysts and others are saying. That Costco should lower employee's wages and make them pay more for health insurance in order to maximize profits, when the company is already quite profitable! It sickens me. Making a profit is no longer good, it's only good when it's the maximum possible amount, even at the expense of employees. Seriously, when you're making millions above and beyond operating expenses what does a few million either way matter?

That's just my $0.02 cents per share.

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  • 5 comments

[info]cargoweasel

July 20 2005, 11:22:04 UTC 6 years ago

Making a profit is no longer good, it's only good when it's the maximum possible amount, even at the expense of employees.

That is the root of all business and what they teach you to do in MBA school. In fact, executives are required by law to maximize shareholder return, that is their only job, and they can be removed and replaced with executives who will maximize shareholder return if they are deemed to not be sufficiently maximizing profits. There is no other ethical concerns at work, corporations are amoral entities.

[info]higginsdragon

July 20 2005, 18:56:01 UTC 6 years ago

I know, I know. Macro/microeconomics is based on the immature principle of 'If I can't have it, nobody can!' It's sad, really.

That's why I love exceptions like Costco. American Apparel is another company, and despite concerns over the amarous CEO, they too turn a profit by not only paying workers decently, but US workers at that.

[info]brokkentwolf

July 20 2005, 16:39:33 UTC 6 years ago

You mean, like Disney?

*Takes your $0.02 cents*

[info]melchar

July 20 2005, 21:58:16 UTC 6 years ago

It seems to me that Wall Street won't be satisfied with any company unless they completely screw their workers. This would change if I RULLED THE WORLD - but until then I will not patronize places that exploit workers [like Walmart] and only take my business to decent companies [like Costco] when able.

It may be my pride speaking, but getting a few bucks off a product is just not worth crawling through the slime to get it.

[info]c_eagle

July 21 2005, 08:53:37 UTC 6 years ago

Thanks for the encouraging link! *winghugs*

...as for the negative aspects, ...yeah, that's why we're blindly transforming into a third-world country.. since some time in the last few dozen years... -_-
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