Less than a week after Costco CEO Craig Jelinek spoke out in favor of raising the minimum wage, the big-box retailer’s earnings showed that paying workers a living wage doesn’t always hurt business.For fuck's sake. A living wage does not hurt business. In fact, it ultimately benefits the economy to have a large pool of citizens with disposable incomes. Here's Audley's patented E-Z Krash Kourse in Economics:
In order to sell your shit, people need to have money to spend. If they can't afford to pay rent on their shitty, minimum wage salary, they ain't gonna buy your shit.
Some analysts have complained in the past that Costco’s worker-friendly policies aren’t so friendly to shareholders. If Tuesday’s results are any indication, those concerns may be exaggerated.Here is a picture of the smallest violin, playing the saddest song just for the poor, under appreciated shareholders → ·
The link included in the quote leads to a New York Time Business article featuring one of those complaining analysts:
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 the ever-lovin' hell? I understand fucking over employees-- it the way Americans do business-- but to complain that your customers are being treated too well is incredible. How in the hell do you expect the company to turn a profit unless customers are satisfied, dumbass?
Gah. Trust HuffPo to take a topic that should be good news and turn it into, well, a Huffington Post article.