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COSTCO announces major wage increases

By MisterLearnToCode following x   2018 Jun 1, 6:18pm 1,552 views   25 comments   watch   nsfw   quote     share    


On Thursday, Costco announced it would raise the hourly wage for 130,000 of its American employees. CEO Richard Galanti, while discussing the company’s fiscal third-quarter earnings, said that starting wages for employees would be raised $1 an hour to $14.50 an hour while other hourly wages would be hiked 25 to 50 cents an hour.

Galanti added that the new wage increases would be probably be added to the company’s regular wage hikes. He acknowledged that the tax cuts would garner Costco an added $300 million each year.

The impetus for the wage hike was the windfall Costco received from the GOP tax cut; the company made $32.36 billion in sales and membership revenue in the twelve weeks ending May 13. That represented a 12.1% increase over the same period last year. Costco has enjoyed four straight quarters of double-digit sales growth.

https://www.dailywire.com/news/31334/more-winning-costco-raising-hourly-wages-over-hank-berrien
2   Onvacation   ignore (3)   2018 Jun 1, 6:30pm   ↑ like (5)   ↓ dislike (0)   quote   flag        

One of the reasons I shop at Costco is that they are good to their employees.
I also like Trader Joes. They pay good wages and have great benefits. I was taking to one of TJ's employees and he told me that his benefits covered hearing aids. I have GREAT insurance but still have to pay for my own hearing aids.

I avoid Walmart like the plague.
3   MisterLearnToCode   ignore (4)   2018 Jun 1, 6:35pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Onvacation says
One of the reasons I shop at Costco is that they are good to their employees.
I also like Trader Joes. They pay good wages and have great benefits. I was taking to one of TJ's employees and he told me that his benefits covered hearing aids. I have GREAT insurance but still have to pay for my own hearing aids.

I avoid Walmart like the plague.


You're a great American. I also like both Joes and Costco, the former is actually a German company that also runs Aldis if memory serves (I may be wrong).

Shopping at Walmart is akin to pissing on the flag and spraying graffiti over an Alexander Hamilton memorial. That company is literally anti-American and economically traitorous that pushes vendors to outsource abroad.
4   Onvacation   ignore (3)   2018 Jun 1, 6:43pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

TwoScoopsOfDragonEnergy says
. That company is literally anti-American and economically traitorous that pushes vendors to outsource abroad.

And the fact that they drive little specialty shops, where you can get advice and special items, out of little towns all over America.

There was a really nice family owned sporting goods store near the lake years ago. Walmart moved in and put them out of business.
5   Strategist   ignore (2)   2018 Jun 1, 6:51pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Onvacation says
One of the reasons I shop at Costco is that they are good to their employees.
I also like Trader Joes. They pay good wages and have great benefits. I was taking to one of TJ's employees and he told me that his benefits covered hearing aids. I have GREAT insurance but still have to pay for my own hearing aids.


Costco is very good and fair to it's employees and customers. Even more than fair. I have seen a woman return a quarter of a birthday cake, and they took it back. What a bitch.
Amazing how they can give such good prices, and still treat employees and customers like this.
6   MisterLearnToCode   ignore (4)   2018 Jun 1, 9:30pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Strategist says
Amazing how they can give such good prices, and still treat employees and customers like this.



Amazing product, great service (driven by long time staff with low turnover who are there long enough to know the ins-and-outs), and really fantastic logistics.
7   RafiMaas   ignore (0)   2018 Jun 2, 8:44am   ↑ like (1)   ↓ dislike (0)   quote   flag        

In n out pays $16 an hour. A 36 year old ownes all 329 of them!
8   MisterLearnToCode   ignore (4)   2018 Jun 2, 8:50am   ↑ like (1)   ↓ dislike (0)   quote   flag        

California raised it's gas tax recently I see, that combined with very low Unemployment and Strong Worldwide Economic Growth is going to push up gas prices, eh?

The Chart does not say "Ex-Taxes"
9   MisterLearnToCode   ignore (4)   2018 Jun 2, 9:26am   ↑ like (2)   ↓ dislike (0)   quote   flag        

Aphroman says


No labelling of the Y axis, this chart could be the number of Hookers that Rin bangs for all I know.
10   Tim Aurora   ignore (0)   2018 Jun 2, 9:45am   ↑ like (1)   ↓ dislike (0)   quote   flag        

TwoScoopsOfDragonEnergy says
Galanti added that the new wage increases would be probably be added to the company’s regular wage hikes. He acknowledged that the tax cuts would garner Costco an added $300 million each year.


I think you are trying to link to diverse issues. Tax cuts do not have much to do with wage increase. The wage increase is due to workers shortage and as such all companies are increasing salary. The tax cuts or the majority of it goes directly to the shareholders ( responsible for 20% increase in DJIA) .

To find out if the tax cuts were responsible for wage increase, you will have to compare the wage increase in companies that benefited from Tax cuts vs which did not.
11   Strategist   ignore (2)   2018 Jun 2, 10:08am   ↑ like (1)   ↓ dislike (1)   quote   flag        

Tim Aurora says
TwoScoopsOfDragonEnergy says
Galanti added that the new wage increases would be probably be added to the company’s regular wage hikes. He acknowledged that the tax cuts would garner Costco an added $300 million each year.


I think you are trying to link to diverse issues. Tax cuts do not have much to do with wage increase. The wage increase is due to workers shortage and as such all companies are increasing salary. The tax cuts or the majority of it goes directly to the shareholders ( responsible for 20% increase in DJIA) .

To find out if the tax cuts were responsible for wage increase, you will have to compare the wage increase in companies that benefited from Tax cuts vs which did not.


Keep in mind, it's the tax cuts that is boosting the economy in the first place, which leads to more hiring. We clearly have a trickle down effect.
12   MisterLearnToCode   ignore (4)   2018 Jun 2, 10:15am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Aphroman says
The only odd part is why certain people cheer it as one of Trumps accomplishments. When they jeered Obama over anything and everything for the past ten years

We have the lowest black unemployment in US History, something the Trend Line does not show, especially since it's jiggered to begin in April 2009 at peak high unemployment, rather than showing the entire picture over decades:



Obama's trend line is no different than other recoveries. Hitting new lows is a Trump Accomplishment.
13   MisterLearnToCode   ignore (4)   2018 Jun 2, 10:17am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Tim Aurora says
I think you are trying to link to diverse issues. Tax cuts do not have much to do with wage increase. The wage increase is due to workers shortage and as such all companies are increasing salary. The tax cuts or the majority of it goes directly to the shareholders ( responsible for 20% increase in DJIA) .


I'm not asserting anything, just quoting the author of the article, which happened to be between the the parts I bolded because I thought them relevant.
14   bob2356   ignore (4)   2018 Jun 2, 10:21am   ↑ like (1)   ↓ dislike (0)   quote   flag        

Strategist says

Keep in mind, it's the tax cuts that is boosting the economy in the first place, which leads to more hiring. We clearly have a trickle down effect.


Wow, I've been hearing about the boost in the economy for almost a year and a half now its the tax cut after 1 quarter. You guys need to get a straight story going. GDP grew 2.3% in 2017. It grew more than that 5 of 8 years under Obama. There isn't any magic surge, it's continuing a steady growth. At least that's what trump cheerleader Forbes says. https://www.forbes.com/sites/chuckjones/2018/01/18/trumps-economic-scorecard-one-year-post-inauguration/#286febfc6b67

This Saturday is the one year anniversary of President Donald Trump’s inauguration. Over the past year, the stock market has boomed, GDP growth has improved and unemployment is at an almost 17-year low. However, job gains were lower than any of the past six years and wage growth was less than last year.
15   Tim Aurora   ignore (0)   2018 Jun 2, 11:06am   ↑ like (0)   ↓ dislike (0)   quote   flag        

TwoScoopsOfDragonEnergy says
Obama's trend line is no different than other recoveries. Hitting new lows is a Trump Accomplishment.


Trump is following the same trend-line as Obama. What is the Trump accomplishment ( except the Tax cut) which boosted the DJIA but nothing else.
16   just_dregalicious   ignore (0)   2018 Jun 2, 11:16am   ↑ like (2)   ↓ dislike (0)   quote   flag        

Tim Aurora says
Trump is following the same trend-line as Obama. What is the Trump accomplishment ( except the Tax cut) which boosted the DJIA but nothing else.


Quite simply using the correct attitude and confidence. For instance not starting out his 1st term in the depths of a depression saying stupid shit like, "This is the new normal".
17   mell   ignore (1)   2018 Jun 2, 11:41am   ↑ like (2)   ↓ dislike (0)   quote   flag        

Obummer/Fed used QE now Trump achieved lowest UE and lowest black UE despite the Fed tightening w/ organic tax cuts. You tired of #winning yet? Don't think so.
18   Strategist   ignore (2)   2018 Jun 2, 1:08pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

bob2356 says
This Saturday is the one year anniversary of President Donald Trump’s inauguration. Over the past year, the stock market has boomed, GDP growth has improved and unemployment is at an almost 17-year low. However, job gains were lower than any of the past six years and wage growth was less than last year.


Unemployment is now at 50 year lows. My, what a difference even 5 months makes when you have the right economic policies in place.
50,000 truck drivers are needed now. The boom times are here, folks. My only fear.......We won't be able to handle too much boom all at once.
19   CBOEtrader   ignore (5)   2018 Jun 2, 1:15pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Aphroman says
I assumed this was common knowledge


Wrong. Small business is the engine of job growth. Small business make hiring and firing decisions over a few weeks time, not a few years. I've started a new business and hired 6 people in the last year.
20   Strategist   ignore (2)   2018 Jun 2, 1:20pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Aphroman says
I was just looking at a 5 year SnP chart, but can’t figure out how to post it here. You can plot the day Trump took office Jan 2017, and even the last day of Obama’s last fiscal year sept 30 2017, and it’s impossible to note any difference one can rightly attribute to Trump.

But i dare anyone to try


Try plotting from November 9, 2016. The first trading day after Trump won.
21   Strategist   ignore (2)   2018 Jun 2, 1:21pm   ↑ like (3)   ↓ dislike (0)   quote   flag        

CBOEtrader says
Aphroman says
I assumed this was common knowledge


Wrong. Small business is the engine of job growth. Small business make hiring and firing decisions over a few weeks time, not a few years. I've started a new business and hired 6 people in the last year.


80% of jobs created, are created by small business. Wish you all the best.
22   Kakistocracy   ignore (6)   2019 Mar 12, 6:55am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Costco builds 'fulfillment automation center' to expand e-commerce business

Costco Wholesale Corp. opened what the Issaquah-based company is calling a "fulfillment automation center" to support its growing e-commerce operation.

Chief Financial Officer Richard Galanti on an earnings call Thursday said the company plans to open a total of three of these centers this year.

This comes as Galanti said he expects Costco's e-commerce business – which is around 5 or 6 percent of the company's business – to grow at a higher rate than the rest of the company, but is "still going to be in the single digits for a while."

The first fulfillment automation center – which has been open for less than eight weeks – is in southern California at the company's warehouse depot in Mira Loma east of Los Angeles. Costco expects to open two more in other parts of the country, although Galanti didn't specify where.

The Mira Loma location was a $100 million investment for Costco. Galanti said the other centers will likely cost less as the initial investment included developing new systems.

Costco is investing in its e-commerce business because the company's focus traditionally has been on stores. Galanti has in the past, however, said he doesn't want people to get too comfortable shopping at Costco online.

Costco has been expanding the company's e-commerce business by offering new items, including a broader range of Apple products and the first of what the company expects will be several Sony products, plus health, beauty and exercise items and a "somewhat famous" 180-serving, $89.99 bucket of macaroni and cheese with a 20-year shelf life, Galanti said, referencing the craze that followed the addition of the macaroni and cheese to the inventory.

https://www.bizjournals.com/seattle/news/2019/03/08/costco-fulfillment-automation-center-ecommerce.html?ana=yahoo&yptr=yahoo
23   CBOEtrader   ignore (5)   2019 Mar 12, 7:02am   ↑ like (3)   ↓ dislike (0)   quote   flag        

A 9 month bump w zero unique content? Just another cut/paste entire article. *smfh
25   APOCALYPSEFUCKisShostikovitch   ignore (37)   2019 Mar 12, 11:10am   ↑ like (1)   ↓ dislike (0)   quote   flag        

THESE CUNTS! ARE! LUCKY! TO! HAVE! JOBS!

If anything they should be paying TRIBUTE! to the JOB! CREATORS!

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