Costco CEO only makes $350,000 a year?

[Brackis]

You have to learn a lot about a lot of things to do them well, but not everyone who is an expert in their field gets that kind of money. It is so unwarranted it is sickening.

(grandson of former CEO of several major companies speaking here)

 

[mugs]

Originally posted by: chambersc

Originally posted by: KillerCharlie
I think the head Wal-Mart execs pay themselves even less.

The Top Ten Richest americans:

William H. Gates
Warren E. Buffett
Paul G. Allen
Michael Dell
Lawrence Ellison
Christy Walton
Jim C. Walton
S. Robson Walton
Alice L. Walton
Helen R. Walton

*hint* Sam Walton founded Wal-Mart.

I beg to differ.

How many of them are actually involved in running Walmart? It's either 0 or 1, I don't remember. They didn't get their money from their Walmart paychecks. 😉 I have no idea how well-paid Walmart execs are though.

 

[mugs]

Originally posted by: JLGatsby
Anything under $10 million dollars a year to run a giant company like Costco is so underpaid it's sickening.

You have a lot of learn about business.

Would you want to invest in a business that does not pay it's top execs well? They cannot attract good talent if they are underpaid.

What do you do for a living? If your company only paid half as much, would you still be working there? Do you think someone less competent would be working in your place if they only paid half as much?

Visit the skyline of NYC, that's the result of greed. Greed is prosperity, as long as it's within reason and doesn't result in lust for money, which causes people to cheat.

A distaste for greed is just the product of jealousy.

Oh I don't know, Costco seems to be doing alright.

 

[JLGatsby]

Originally posted by: mugs

Originally posted by: chambersc

Originally posted by: KillerCharlie
I think the head Wal-Mart execs pay themselves even less.

The Top Ten Richest americans:

William H. Gates
Warren E. Buffett
Paul G. Allen
Michael Dell
Lawrence Ellison
Christy Walton
Jim C. Walton
S. Robson Walton
Alice L. Walton
Helen R. Walton

*hint* Sam Walton founded Wal-Mart.

I beg to differ.

How many of them are actually involved in running Walmart? It's either 0 or 1, I don't remember. They didn't get their money from their Walmart paychecks. 😉 I have no idea how well-paid Walmart execs are though.

None of them made the Forbes 400 list because of their "pay," they simply inherited stock and live off the dividends.

Some people know so little about business and topics like this it's silly.

 

[JLGatsby]

Originally posted by: mugs

Originally posted by: JLGatsby
Anything under $10 million dollars a year to run a giant company like Costco is so underpaid it's sickening.

You have a lot of learn about business.

Would you want to invest in a business that does not pay it's top execs well? They cannot attract good talent if they are underpaid.

What do you do for a living? If your company only paid half as much, would you still be working there? Do you think someone less competent would be working in your place if they only paid half as much?

Visit the skyline of NYC, that's the result of greed. Greed is prosperity, as long as it's within reason and doesn't result in lust for money, which causes people to cheat.

A distaste for greed is just the product of jealousy.

Oh I don't know, Costco seems to be doing alright.

Are you a business analyst? How do you know how well they are doing?

So by your logic, just pay CEOs anything, just a few pennies, and you'll still attract great talent? Maybe we should cut your salary. I'm sure someone good enough will come along and do just as good of a job for less.

 

[mugs]

Originally posted by: JLGatsby
None of them made the Forbes 400 list because of their "pay," they simply inherited stock and live off the dividends.

Some people know so little about business and topics like this it's silly.

Thank you for reiterating what I said, I assume you were referring to the guy I quoted with your second line?

 

[borosp1]

Originally posted by: JLGatsby

A distaste for greed is just the product of jealousy.

That?s just a crazy statement... Greed is ok to a point, but paying CEOs 30x the avg workers salary is over the top. People don?t pay to go see a ceo, unlike paying to see an athlete (that why athletes paid millions).

As to the point of attracting talented work pool. From reading about Costco?s corporate structure they promote almost 100% from within and there turnover is the lowest in there business sector.

 

[ElFenix]

Originally posted by: chambersc

Originally posted by: KillerCharlie
I think the head Wal-Mart execs pay themselves even less.

The Top Ten Richest americans:

William H. Gates
Warren E. Buffett
Paul G. Allen
Michael Dell
Lawrence Ellison
Christy Walton
Jim C. Walton
S. Robson Walton
Alice L. Walton
Helen R. Walton

*hint* Sam Walton founded Wal-Mart.

I beg to differ.

those aren't the execs, those are walton's heirs, numbnuts
the 'senior officers'

 

[mugs]

Originally posted by: JLGatsby

Are you a business analyst? How do you know how well they are doing?

http://abcnews.go.com/2020/Business/story?id=1362779

This year's sales total more than $52 billion from 462 stores in 37 states and eight countries. Costco is now the nation's fourth-largest retailer, selling everything from crab legs to flat-screen TVs to caskets ? and even a Picasso painting.

Costco attracts the most affluent customers in discount retailing ? with an average income of $74,000.

 

[Ameesh]

lol, jeff bezos, the ceo of amazon.com only make $87K a year, for c level execs, stock options are where they get money

 

[ElFenix]

Originally posted by: Dissipate

Blame it on the progressive income tax. Suppose if $100,000 goes to 1 person, that person pays 30% in income tax, but if it goes to 3 different people they only pay a few percent in income tax. Who do you think the government would most want to get the $100,000?

Big corporations and CEOs with outrageous paychecks can all be blamed on business protections enforced by the government in order to skew the distribution of income in order to maximize tax revenue.

That's my theory and I'm sticking with it.

actually its delaware's business judgement rule, which isn't influenced by the federal income tax.

 

[ElFenix]

Originally posted by: Linux23

Despite Costco's impressive record, Sinegal's salary is just $350,000, although he also received a $200,000 bonus last year. That puts him at less than 10 percent of many other chief executives, though Costco ranks 29th in revenue among American companies.

measuring a resale shop in terms of gross revenue is retarded.

 

[JLGatsby]

Originally posted by: borosp1

Originally posted by: JLGatsby

A distaste for greed is just the product of jealousy.

Thats just a crazy statement.. Greed is ok to a point, but paying CEOs 30x the avg workers salary is over the top. People dont pay to go see a ceo, unlike paying to see an althlete (that why athletes paid millions).

As to the point of attracting talaented work pool. From reading about costocs corporate strtucture they promote almost 100% from within and there turnover is the lowest in there business sector.

My god, the logic of some people is amazing.

A CEO is responsible is HUNDREDS OF THOUSANDS OF JOBS, BILLIONS OF DOLLARS, and the the financial health of the MILLIONS OF SHAREHOLDERS.

They don't deserve a few million for all that?? You must be kidding.

You think some college dropout dope who plays basketball should be paid more than a CEO just to throw a ball around?

A CEO brings in profit for millions of shareholders. Creates hundreds of thousands of jobs.

And do you know how much it costs to live in most big cities? 30 times the average salary is nothing. Do you think the highest ranking officer of a company should live in any normal neighborhood in an ordinary house? Is that the reward for rising to the top? I bet you'd think differently if you worked your ass off your entire life to become a CEO.

So by your logic, some teenager who didn't go to college, like Lebron James, deserves more money for tossing a ball than say Jack Welch, who single handedly made GE into a giant and created hundreds of thousands of jobs and billions of dollars of wealth.

 

[JLGatsby]

Originally posted by: mugs

Originally posted by: JLGatsby

Are you a business analyst? How do you know how well they are doing?

http://abcnews.go.com/2020/Business/story?id=1362779

This year's sales total more than $52 billion from 462 stores in 37 states and eight countries. Costco is now the nation's fourth-largest retailer, selling everything from crab legs to flat-screen TVs to caskets ? and even a Picasso painting.

Costco attracts the most affluent customers in discount retailing ? with an average income of $74,000.

I'm a stock trader and that article means nothing.

 

[Dissipate]

Originally posted by: ElFenix

Originally posted by: Dissipate

Blame it on the progressive income tax. Suppose if $100,000 goes to 1 person, that person pays 30% in income tax, but if it goes to 3 different people they only pay a few percent in income tax. Who do you think the government would most want to get the $100,000?

Big corporations and CEOs with outrageous paychecks can all be blamed on business protections enforced by the government in order to skew the distribution of income in order to maximize tax revenue.

That's my theory and I'm sticking with it.

actually its delaware's business judgement rule, which isn't influenced by the federal income tax.

Do you believe that given a progressive income tax the government wouldn't be tempted to shift the distribution of income upwards to get a higher overall tax take due to higher percentage taxed?

 

[JLGatsby]

Originally posted by: Ameesh
lol, jeff bezos, the ceo of amazon.com only make $87K a year, for c level execs, stock options are where they get money

Because Bezos owns a large portion of the company and doesn't need or want a large salary.

He is worth several billion dollars, what good would a few million do?

 

[mugs]

Originally posted by: JLGatsby

So by your logic, just pay CEOs anything, just a few pennies, and you'll still attract great talent? Maybe we should cut your salary. I'm sure someone good enough will come along and do just as good of a job for less.

The idiocy of your posts astounds me more and more every day. I never said that. I never said anything resembling that. I never said anything that could have been misconstrued or mangled to mean anything similar to that.

What I said was that Costco seems to be doing alright with their current CEO, despite paying him only $350,000. Perhaps he does a good job for a reason other than collecting a salary? Perhaps its because as a co-founder of the company, he has a personal interest in seeing it do well. Perhaps it's because he owns a ton of Costco stock, so the better the company does the wealthier he is. Perhaps it's because he has enough money to live several lives, and he just wants to prove that a company can succeed AND not pay their employees widely disparate salaries.

 

[JLGatsby]

Originally posted by: mugs

Originally posted by: JLGatsby

So by your logic, just pay CEOs anything, just a few pennies, and you'll still attract great talent? Maybe we should cut your salary. I'm sure someone good enough will come along and do just as good of a job for less.

The idiocy of your posts astounds me more and more every day. I never said that. I never said anything resembling that. I never said anything that could have been misconstrued or mangled to mean anything similar to that.

What I said was that Costco seems to be doing alright with their current CEO, despite paying him only $350,000. Perhaps he does a good job for a reason other than collecting a salary? Perhaps its because as a co-founder of the company, he has a personal interest in seeing it do well. Perhaps it's because he owns a ton of Costco stock, so the better the company does the wealthier he is. Perhaps it's because he has enough money to live several lives, and he just wants to prove that a company can succeed AND not pay their employees widely disparate salaries.

I actually think the last one is true in his case.

But you cannot possibly say that by paying less, you're still going to get the same talent.

Pay more, you'll get better people. It's an age old rule in business.

 

[ElFenix]

Originally posted by: Dissipate
Do you believe that given a progressive income tax the government wouldn't be tempted to shift the distribution of income upwards to get a higher overall tax take due to higher percentage taxed?

while that may be true, that isn't reality.

delaware's government doesn't see a dime from the federal income tax, and doesn't see a dime from the state income tax of most CEOs. no, i don't think delaware's business judgement rule is influened by the want of more income taxes. franchise fees? you bet. but not income taxes.

 

[mugs]

Originally posted by: JLGatsby

I'm a stock trader and that article means nothing.

I said Costco seems to be doing alright. You challenged that statement. They're the fourth largest retailer in the nation. You don't think that means they're doing well?

I don't think your being a stock trader has anything to do with how well Costco is doing.

 

[mugs]

Originally posted by: JLGatsby
I actually think the last one is true in his case.

But you cannot possibly say that by paying less, you're still going to get the same talent.

Pay more, you'll get better people. It's an age old rule in business.

I never disagreed with that, I never said CEOs shouldn't be paid well. They should be paid well.

I'm guessing Costco isn't holding out on their CEO... if he asked for more money, I have no doubt they'd give it to him. It sounds like he doesn't want to make more.

 

[ElFenix]

Originally posted by: Linux23

Emme Kozloff, an analyst at Sanford C. Bernstein & Co., faulted 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."

:roll:


That was an awesome link Halik.

that analyst is retarded. i bet he's the only one that questions the decision, so he gets a quote. hey, you pay people more and they don't want to leave so you don't have to spend money training new people all the time! and hey, if you give them more healthcare they won't be sick as much and you won't have to get crappy temps/hire more people all the time! holy sh!t i think i thought of something that eduardo castro-wright didn't!

 

[JLGatsby]

Originally posted by: mugs

Originally posted by: JLGatsby

I'm a stock trader and that article means nothing.

I said Costco seems to be doing alright. You challenged that statement. They're the fourth largest retailer in the nation. You don't think that means they're doing well?

I don't think your being a stock trader has anything to do with how well Costco is doing.

As a stock trader I need to judge the short term health of a company. I know how to judge earnings and revenue and other vital financial statistics.

Because some dolt on ABC said Costco is "cool," that does not mean the company is doing well relative to it's respective industry and competitors and it's "expected performance."

 

[JLGatsby]

Originally posted by: mugs

Originally posted by: JLGatsby
I actually think the last one is true in his case.

But you cannot possibly say that by paying less, you're still going to get the same talent.

Pay more, you'll get better people. It's an age old rule in business.

I never disagreed with that, I never said CEOs shouldn't be paid well. They should be paid well.

I'm guessing Costco isn't holding out on their CEO... if he asked for more money, I have no doubt they'd give it to him. It sounds like he doesn't want to make more.

Your original statement was an attempt to prove that paying a CEO less will still result in the same performance.

 

[myusername]

Sam's might make the case that its ketchup is cheaper than Costco's, he said, "but you can't compare Hunt's ketchup with Heinz ketchup."

lol