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This is so wrong that I just have to laugh. Yes, Costco DOES pay its executives millions. http://insiders.morningstar.com/trading/executive-compensation.action

This is so wrong that I just have to laugh. Yes, Costco DOES pay its executives millions. http://insiders.morningstar.com/trading/executive-compensation.action?t=COST http://insiders.morningstar.com/trading/executive-compensati... Can you name one Fortune 500 company that doesn't pay executives millions? Facebook, Google, and Apple pay its executives millions, and yet its contracted janitors get low hourly rates. Where's your rage?

Amadou 13y ago
I think you are missing the forest for the trees. The point is that costco's approach reduces the "spread" between management and employees, not that it eliminates it. From moringstar, Costco CEO's compensation was ~$18.5M, Walmart's was ~$62.5M. In 2006 (the easiest numbers I could find) the average Walmart employee earned ~$10/hr vs $17/hr at Costco. Walmart employees also had less health coverage (<50% vs ~80%) and were responsible for %33 of the cost vs %8. source: The High Cost of Low Wages - Harvard Business Review. http://hbr.org/2006/12/the-high-cost-of-low-wages/ar/1 http://hbr.org/2006/12/the-high-cost-of-low-wages/ar/1
- hearty779 13y ago
  The article you cite is not a peer-reviewed journal paper. Apple's head lawyer alone made $68 million last year, not to mention other executives. No outrage?
  - Amadou 13y ago
    I don't think peer review is necessary to confirm the relative levels of compensation as stated by the article. If you think those numbers are not accurate you are welcome to cite other sources for the wage levels. As for bringing up Apple, are you trying to make me defend Apple? I'm no fan for a whole host of reasons, red herrings though they may be.
  - nknighthb 13y ago
    How many Apple employees are on foodstamps and/or medicaid?
    - forrestthewoods 13y ago
      Including the Chinese workers who assemble Apple's products?
      - nknighthb 13y ago
        Last time I looked up the numbers, those workers were earning at least an integer multiple of the average wage for China, and were right about where you'd expect for someone in Shanghai (a highly privileged part of China). If you really think they're equivalent to Wal-Mart's minimum-wage employees, you are either extremely ignorant or just delusional.
        forrestthewoods 13y ago
        Holy shit. I can't believe I just read that. I shall forever this moment as the one where HN jumped the shark. God damn.
        dragonwriter 13y ago
        > Last time I looked up the numbers, those workers were earning at least an integer multiple of the average wage for China Underneath the pompous attempt at technical-sounding language, what are you trying to say? If you really meant "...at least an integer multiple of the average wage...", this is a really pompous way of saying "some amount, which could be infinitely negative", since integers include negative numbers of unlimited magnitude. If you really meant "...at least a positive integer multiple of the average wage...", that's a really pompous way of saying "...at least the average wage..." If you really meant "...at least an integer > 1 multiple of the average wage...", that's a really pompous way of saying "...at least twice the average wage..."
        nknighthb 13y ago

Amadou 13y ago

I think you are missing the forest for the trees. The point is that costco's approach reduces the "spread" between management and employees, not that it eliminates it. From moringstar, Costco CEO's compensation was ~$18.5M, Walmart's was ~$62.5M. In 2006 (the easiest numbers I could find) the average Walmart employee earned ~$10/hr vs $17/hr at Costco. Walmart employees also had less health coverage (<50% vs ~80%) and were responsible for %33 of the cost vs %8. source: The High Cost of Low Wages - Harvard Business Review. http://hbr.org/2006/12/the-high-cost-of-low-wages/ar/1 http://hbr.org/2006/12/the-high-cost-of-low-wages/ar/1

hearty779 13y ago
The article you cite is not a peer-reviewed journal paper. Apple's head lawyer alone made $68 million last year, not to mention other executives. No outrage?
- Amadou 13y ago
  I don't think peer review is necessary to confirm the relative levels of compensation as stated by the article. If you think those numbers are not accurate you are welcome to cite other sources for the wage levels. As for bringing up Apple, are you trying to make me defend Apple? I'm no fan for a whole host of reasons, red herrings though they may be.
- nknighthb 13y ago
  How many Apple employees are on foodstamps and/or medicaid?
  - forrestthewoods 13y ago
    Including the Chinese workers who assemble Apple's products?
    - nknighthb 13y ago
      Last time I looked up the numbers, those workers were earning at least an integer multiple of the average wage for China, and were right about where you'd expect for someone in Shanghai (a highly privileged part of China). If you really think they're equivalent to Wal-Mart's minimum-wage employees, you are either extremely ignorant or just delusional.
      - forrestthewoods 13y ago
        Holy shit. I can't believe I just read that. I shall forever this moment as the one where HN jumped the shark. God damn.
      - dragonwriter 13y ago
        > Last time I looked up the numbers, those workers were earning at least an integer multiple of the average wage for China Underneath the pompous attempt at technical-sounding language, what are you trying to say? If you really meant "...at least an integer multiple of the average wage...", this is a really pompous way of saying "some amount, which could be infinitely negative", since integers include negative numbers of unlimited magnitude. If you really meant "...at least a positive integer multiple of the average wage...", that's a really pompous way of saying "...at least the average wage..." If you really meant "...at least an integer > 1 multiple of the average wage...", that's a really pompous way of saying "...at least twice the average wage..."
        nknighthb 13y ago