• @Windex007@lemmy.world
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      1865 months ago

      Close. The founder told the CEO if he raised the price on the hotdog “I will fucking kill you”.

      So, who really gets the credit here is up to you.

      The person who threatened to kill the CEO if the CEO fucked his customers, or the CEO who didn’t fuck his customers out of self-preservation?

      • @Death_Equity@lemmy.world
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        725 months ago

        They also bought 2 hotdog factories to minimize the loss.

        Costco does pay decent as well.

        Could they do better? Yes, but they are pretty decent for employees and consumers.

        • @howrar@lemmy.ca
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          45 months ago

          Last I heard, their profits were nearly entirely from memberships. This was probably five years ago though. I don’t know if their numbers have changed since.

          • @nepenthes@lemmy.world
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            5 months ago

            I left reddit after the API fiasco and didn’t return, but I remembered seeing this on Data is Beautiful before that, so I just looked it up for you. (My search query in DDG was “data is beautiful reddit Costco profit margins” and a few popped up; this was the most recent.)

            Transcription: infographic states

            Net sales +$77.4B
            Merch costs -$69.2B

            Membership fees +$1.5B

            SG&A -$6.9B (Selling, General, and Administrative Expenses)
            Taxes -$0.8B

            Net profit $2.2B (2% margin)

            Source listed as: Costco Q4 FY 23 earnings

            Edit: format failing :(

    • @satanmat@lemmy.world
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      435 months ago

      Also. I believe, he also said , if the workers think they need a union, we’ve failed as managers.

      So. Yeah

      • @Arbiter@lemmy.world
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        395 months ago

        I mean, it’s an understandable viewpoint.

        It’s when union busting tactics are being brought in that things are problematic.

      • vortic
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        165 months ago

        I wish more companies had this mindset. If you treat your employees well and listen to their needs, they won’t need to unionize. When they do unionize, it means they don’t feel that they have been treated well and listened to.

        It seems that the end result of this philosophy would be to treat your employees well!

        • @kiterios@lemmy.world
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          105 months ago

          If you have an employer that does the right thing, you should have a union that doesn’t need to do much. But you should still unionise, because it’s niave to think the company will always continue to behave that way. If anything, they naturally drift away from that state and it’s only a matter of time until it changes. The union is about having a level playing field with the company when you need it.

        • bufalo1973
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          5 months ago

          Unionize it’s not only about raising your working conditions. It’s about helping other to raise theirs. If you have better conditions you can tell other business owners that what the Union is asking, you already have it. One less point where they can grab themselves.

    • toiletobserver
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      285 months ago

      “I came to [Sinegal] once and I said, ‘Jim, we can’t sell this hot dog for a buck fifty. We are losing our rear ends,’” Jelinek recalled in a 2018 interview with 425 Business. “And he said, ‘If you raise the effing hot dog, I will kill you. Figure it out.’”

      https://thehill.com/homenews/4696314-costcos-new-cfo-makes-announcement-about-1-50-hot-dog-combo/#:~:text=We are losing our rear ends%2C’%E2%80%9D%20Jelinek,effing%20hot%20dog%2C%20I%20will%20kill%20you.