2005-07-19

How Costco Became the Anti-Wal-Mart - New York Times

How Costco Became the Anti-Wal-Mart - New York Times:

"Despite Costco's impressive record, Mr. Sinegal's salary is just $350,000, although he also received a $200,000 bonus last year. That puts him at less than 10 percent of many other chief executives, though Costco ranks 29th in revenue among all American companies.

'I've been very well rewarded,' said Mr. Sinegal, who is worth more than $150 million thanks to his Costco stock holdings. 'I just think that if you're going to try to run an organization that's very cost-conscious, then you can't have those disparities. Having an individual who is making 100 or 200 or 300 times more than the average person working on the floor is wrong.'"

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