Check out this article from Blogginstocks.com about how a friendlier, less greedy corporate culture seems to be working well for Costco. In fact it seems to be working better than Wal-Mart's hyper-greedy style:
Costco does well by doing good -- pay attention Wal-Mart!It was hard to argue with Wal-Mart (NYSE: WMT)'s ruthless efficiency and emphasis on cost-cutting at all costs when it was producing results.
But as the five-year chart below shows, Wal-Mart's stock has been a serious laggard of late. Meanwhile, its more socially conscious discounting cousin, Costco (NYSE: COST) has been on a tear.
Costco vs. Wal-Mart, trailing five years
Over the past five years, shares of Wal-Mart have lost more than 10% of their value. Costco is up better than 100% over the same period.
A piece in the Seattle Post-Intelligencer sheds some light on the kinder, gentler corporate culture that is producing results for Costco. The article is excellent and worth reading, but this one part of one sentence probably sums up the major difference between the two companies better than anything else: Chief Executive Jim Sinegal, the penny-pinching, self-effacing multimillionaire who is beset by handshakes, hugs and even kisses from employees.It's hard to imagine anyone hugging Wal-Mart CEO Lee Scott. Kicking him in the crotch? Perhaps. But certainly not hugs. And Sinegal even, gasp, donates large amounts of money to Democrats. He tries to visit each Costco location at least once per year.
Furthermore, "He has kept his salary at $350,000 for the past six years, a fraction of what most other Fortune 500 chief executives earn. He also turned down a $200,000 bonus last year because of disclosures of sloppy bookkeeping regarding company stock option practices, and he reimbursed the company $62,463 for using the company's aircraft for personal use."
Is it just me, or is hard to imagine Lee Scott doing any of these things? If the stock's pitiful performance since he became CEO isn't a good enough reason for the company's board to consider urging him to retire to spend more time with his family, perhaps the arrogant corporate culture and terrible reputation that he has helped to craft should be.
Posted by Taylor - December 4, 2007 11:19 AM - In The News
Wal Mart Assoicate don't trust CEO Lee H Scott and Lee H Scott support to be fire right of away and right now for make more money then Wal Mart Assoicate and bet Lee Scott all he dose fly in the private Jet Plain and go to Share Hold Stock meet all year around and bust Union
Posted by Tom P Noonan - December 4, 2007 08:34 PM
I would like to know when Walmart started mauf. toys ?? Why not but on your advertising ( on TV) the name of the Toy Mauf..
Also is walmart the only store these are sold in?
Posted by Carl E. McHolland - December 10, 2007 09:56 AM
why dont you all go to kmart and target and other stores and see where they get the toys they sell?the toy makers are the ones you should being asking questions of.i just bought a toy and dicks five and dime and it said made in china .so i dont see what you are trying to do.
Posted by sharon coulter - December 13, 2007 10:15 AM
I think you should look at other stores who sell china & other overseas products. Targeting Walmart is not fair. I would like to see stats from top 5 retailers selling same items as WM. However, I do agree that they should be treating there employees better.
Posted by Rich M - December 19, 2007 06:33 PM
The way I see It is if you don't like what Wal-Mart sells GO SOMEWHERE ELSE! Why is it people can come into Wal-Mart and yell at the assoicates and call in and complain but yet they still come in and buy things they don't need and can't afford.Wal-Mart assoicates have nothing to do with how things are made or where they come from so don't come in and kick and scream over something the assoicates can't help with.
Posted by Amanda - January 28, 2008 10:25 PM
i think that wal mart dont have anything to do with this.if you dont have the right to go into walmart complaining to the poor associates about how this and that isnt right.if you dont like itt thenn honestly.GO SOMEWHERE ELSE! :] there is plenty of stores you can go to and find the toy or anything you want!
Posted by jona - March 20, 2008 09:29 AM
Yes. Walmart Managers are the true puppeteers of greed and evil. And to you nasty customers who bitch and complain when you come to Walmart. Stop complaining to the sales floor associates about how messy the stores are and how the products that are sold are foreign made. It wouldnt be a pig pen if your sloppy butts messed it up the first place. And pay for what you eat, and don't leave it for some employee to pick up. And just remember, we are meager low paid associates who really dont give a care in the world of what you have to gripe about. Take your complaints and take your frustrations out on the high PAID STORE MANAGER. Yes, we do get treated like shit by (WAL-MART)and we get paid meagerly. But don't treat guys like me like crap. To me this is JUST A JOB! Just Over Broke. Not a lifelong career.For what I get paid and how I'm treated I could give to flying shits about what customers and managers want. And to you customers, if you guys come into Walmart just to bitch then dont bring you fat asses in the store. Take it out on Lee Scott the dictator of Wal-Mart.
Posted by Jesse - July 9, 2008 01:02 PM
Culture is a cohesion of values, myths, heroes, and symbols that guide the way people work and communicate in an
organization or a unit of an organization. Merriam Webster’s Collegiate Dictionary, Tenth Edition defines culture
as “a set of shared attitudes, values, goals, and practices that characterizes a company or organization.Yeah!!! send those greed bastards to us and we'll exploit them! http://www.greedypeople.com
Posted by davemooregan - October 12, 2008 09:44 PM