So much for the Minimum Wage argument - Costco's Profit Soars To $537 Million

[Cigar]

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.

Costco reported a profit of $537 million last quarter, up from $394 million during the same period last year, according to the Wall Street Journal. The healthy earnings report comes just six days after Jelinik urged lawmakers to raise the minimum wage to $10.10 an hour.

http://www.huffingtonpost.com/2013/03/12/costco-profit_n_2859250.html


Next! :grin:

[Peter1469]

Walmart has over double the number of employees of Costco.

And apparently the extra pay pays off. Costco makes more than $10,000 in profits per employee (http://www.thedailybeast.com/articles/2012/11/26/why-can-t-walmart-be-more-like-costco.html), while Walmart takes home about $7,400 per worker, according to the Daily Beast (Walmart and Costco aren’t exactly the same type of business, however).

http://www.huffingtonpost.com/2013/03/12/costco-profit_n_2859250.html

Compare apples to apples if you want to impress someone.

[simpsonofpg]

We have lots of people who want more money but not a lot who will be willing to put forth some effort to earn it. That is the big problem. Our government has convenienced people that they don't have to work and the big G will take care of them.

[Chris]

So much for the Minimum Wage argument

How's that?

[KC]

Beneficiaries of a higher minimum wage:

-Large firms
-Unions
-Skilled workers
-Undocumented (illegal) workers

Those who are hurt by a higher minimum wage:

-Small firms
-Uneducated/unskilled workers
-Workers who are just entering the labor force
-Native workers

[Peter1469]

Beneficiaries of a higher minimum wage:

-Large firms
-Unions
-Skilled workers
-Undocumented (illegal) workers

Those who are hurt by a higher minimum wage:

-Small firms
-Uneducated/unskilled workers
-Workers who are just entering the labor force
-Native workers

And new entrants into the workforce. Like you kids.... :grin:

[KC]

And new entrants into the workforce. Like you kids.... :grin:

Yeah, it was pretty difficult to find that first job, but i was able to find a job in a warehouse to get that initial experience and some references from previous employers. Since then finding jobs is easy.