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Costco Is the Most ‘Woke’ Company Out There
Posted by: space-time
Date: October 25, 2019 09:15PM
[www.barrons.com]

Earlier this week, the heads of 181 major companies decided that maximizing shareholder value was no longer the main purpose of the modern corporation.

The redefined role—announced at a time when many people are worried about a recession and their portfolios—is promoting an economy that serves all Americans.
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: wowzer
Date: October 25, 2019 09:56PM
Somewhere, out there, there are 181 companies ready to take over from these social-financial justice companies. Otherwise, I give them a year before their boards are ousted. Gordon Gecco, get ready to take over.



All I ever really needed to know, I learned from watching Star Trek.
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: C(-)ris
Date: October 25, 2019 10:33PM
Quote
wowzer
Somewhere, out there, there are 181 companies ready to take over from these social-financial justice companies. Otherwise, I give them a year before their boards are ousted. Gordon Gecco, get ready to take over.

Corporate leaders at companies such as Amazon.com (ticker: AMZN), Apple (AAPL), BlackRock (BLK), and Walmart (WMT) signed the Roundtable’s statement on “the purpose of a corporation.” It’s great to know that masters of corporate politics recognize that others are struggling to get by, that hard work is often unrewarded, and that not enough is being done to help workers adjust to the changes.

Who do you think is going to dethrone these giants? It isn't a bunch of small random companies. Most of these are corporate juggernauts that aren't going to feel much of a sting.



C(-)ris
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: M A V I C
Date: October 25, 2019 11:00PM
Costco is one of the worst companies out there.




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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: jdc
Date: October 26, 2019 01:54AM
Quote
M A V I C
Costco is one of the worst companies out there.

Can you elaborate?



----


Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: space-time
Date: October 26, 2019 07:33AM
Quote
jdc
Quote
M A V I C
Costco is one of the worst companies out there.

Can you elaborate?

He always says that, but I don't recall if he brought any arguments. I know he is from Seattle and Costco is from Kirkland which is right across the lake. Maybe he know some details only locals know, buy for the rest of USA, Costco seems to have a better than average image.

@M A V I C: is Sams Club, BJ, or other similar companies (if there are more, no idead) better than Costco? What specifically makes Costco so bad in your opinion?

My understanding is they pay better than average, they respect their workers, i.e. they give them off major holidays, open late and close early on weekends, and they try to promote people from inside based on merit.

They also have a generous return policy and extended warranty on stuff they sell.
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: tortoise
Date: October 26, 2019 08:22AM
Quote
M A V I C
Costco is one of the worst companies out there.

Everyone is entitled to their opinion MAVIC, but without specifics I will beg to differ and state that in my humble opinion Costco is one of the best companies out there. I have been a Costco member for over 25 years and they do pay their staff well and that is reflected in the always helpful attitude unlike the surly clerks often encountered in places like Walmart and Target. Furthermore the Costco buying agents work hard to ensure nothing but high quality products at a reasonable price land on their shelves. I get my glasses and prescriptions for our dogs at considerable savings. The only problem I have with Costco is they sometimes drop a product that I am used to purchasing on a regular basis so I have to go elsewhere for that item. Good example is Paul Newman Salad dressing they carried for years and it is suddenly gone, when asking about it I was told it involved a raise in wholesale cost they felt was just too much and dropped the line.

I would welcome your comments as to why you consider Costco to be one of the worst?
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: Racer X
Date: October 26, 2019 09:13AM
he has mentioned it several times in the past. I remember the reasons, but I am staying out of it. Pretty elaborate schemes on Costco's part too.

I just have a phenomenal memory for esoteric info.



Edited 1 time(s). Last edit at 10/26/2019 09:14AM by Racer X.
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: M A V I C
Date: October 26, 2019 10:15AM
For decades, Costco has used underhanded (and sometimes illegal, as ruled in court) tactics, which have resulted in putting companies out of business, into bankruptcy or other financial stress. It comes under several names and I've posted links here a few times before. You can search for them and find the many articles out there, though it's not always the same. I used to search for costco teva because it was one of the lawsuits Costco lost, but now Teva is the name of a drugmaker in the news.

Costco gray market and Costco diversion buying should also yield some results.

The short of it is that Costco often uses shell companies and a powerful legal team to procure goods they shouldn't have. Their legal team can crush any small or medium business that doesn't like it, and they frequently do. They're also willing to take companies all the way to the supreme court (which they have, and lost, fortunately.)

I haven't read these articles in full, but a few results I found are
[www.retailwire.com]
[www.cbsnews.com]

As some of you know, I used to work for a bike shop. It was a mom & pop operation. Costco put us out of business. I got to watch it from the inside. At first we thought it was impossible what was happening. Then reality set in, then the lawyers, then the realization that we didn't have enough to fight Costco, then the financial ruin and later bankruptcy.




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Edited 1 time(s). Last edit at 10/26/2019 10:33AM by M A V I C.
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: space-time
Date: October 26, 2019 11:15AM
Why would Costco, who probably sells low cost, Chinese imported bikes, fight with a local bike shop, who sells a larger variety of bikes and all sort of accessories, and most likely provide service, repairs, spare parts, etc. It seems like there is very little overlap between these markets, and I cannot see why they would choose to destroy a local small business. Maybe they have other goals, like buy their building/parking lot to expand, or something else. No doubt this happened, I just don't understand why they did it.

Yes, I know there was a scandal with a "Tiffany" diamond ring a while back. They may have issues with other corporations, but I think they threat their employees (and their customers) much better than most other retailers.

Look no one is perfect, and I understand you have issues with Costco, but for most of us they have a good image.
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: space-time
Date: October 26, 2019 11:24AM
[www.retailwire.com]

No big deal in my book, if you do not want your products sold by other companies, then sell them on your web site directly and ONLY on your web site. Do not sell on Amazon, at the mall, etc. And unless you can prove that they sold a fake product, you have nothing to complain. If you made the product, and sold it to someone else, you got your cash. Shut up and make more, don't waste your time and energy trying to figure out how Costco bought some pairs of Crocks you didn't sell directly to them.

Suppose you found a pair of Crocks in a consignment shop, or on eBay, would you be pissed off and go after those retailers? probably not.

[www.cbsnews.com]

same issue as above.

in fact, even the President (which many here do not support) wants to import US made drugs from other countries, such as Canada, since those sell much cheaper there. This is probably the only issue where I support the president. My Epipen which save my life was bought in Canada for $70, while a pair would have costed me $600 here (300 each). So I paid about 4x less Canada than in US.

I have no problem buying an Omega watch from Costco, Jomashop or Ashford as long as the watch is real and I am told upfront that I won't get manufacturer's warranty but the retailer offer their own warranty.
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: tortoise
Date: October 26, 2019 11:25AM
Thanks space-time, you summed it up perfectly "No one is perfect" and like you I find Costco to be one of the best retailers available today. I am interested in what they do for me, and while MAVIC's experience has soured him on Costco I am a happy and loyal fan of Costco.
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: August West
Date: October 26, 2019 11:33AM
I do not think that Costco is the poster child for the demise of mom & pop operations. You need a deeper dive than that.

Regarding S-T's original topic, this change is underway and does not reflect some suddenly found altruism, but a redefinition of survival.

ETA: Good explanation S-T.



Picasso in his studio after the liberation of Paris, taken by my friend and mentor.





Edited 1 time(s). Last edit at 10/26/2019 11:34AM by August West.
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: Filliam H. Muffman
Date: October 26, 2019 01:53PM
Bike shop for reference. [forums.macresource.com]

Costco has done some shady stuff from time to time but they treat their employees better than just about any other retailer.



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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: hal
Date: October 26, 2019 05:08PM
Quote
Filliam H. Muffman
Bike shop for reference. [forums.macresource.com]

Costco has done some shady stuff from time to time but they treat their employees better than just about any other retailer.

I can't STAND Costco and have never felt a need to pay someone so I can then have the pleasure of having them profit from my purchases. But I have a friend that put herself through college working at costco (she now teaches at the same college). She had several health problems and often had to reschedule her work. They never gave her a problem.

One of her friends works there still (30 years later) and rose to a decent management position in the local store with only a HS diploma. Another friend started climbing the ladder into management and moved away after 6-7 years of climbing. I haven't heard anything about him in a long time, but all of these people LOVED working at Costco even if they didn't like the work.
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: space-time
Date: October 26, 2019 06:08PM
Quote
Filliam H. Muffman
Bike shop for reference. [forums.macresource.com]

Costco has done some shady stuff from time to time but they treat their employees better than just about any other retailer.

@M A V I C: about 11 years late to the party, but why don't you say who is Brand X?

EDIT: I also I find that original story suspicious. Costco may have sold 100, 200 or 300 of that particular bike. How many need warranty? 10? 20? 30? how much is the warranty on a $200 bike? $50? if the shop went out of business because of that, there were bigger issues.



Edited 1 time(s). Last edit at 10/26/2019 06:10PM by space-time.
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: N-OS X-tasy!
Date: October 26, 2019 06:23PM
Quote
August West
I do not think that Costco is the poster child for the demise of mom & pop operations. You need a deeper dive than that.

Not at all — Walmart is the name you’re looking for. Easy peasey.



It is what it is.
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: space-time
Date: October 26, 2019 08:48PM
if one does not like Costco, and assuming they have similar feelings for Walmart, Amazon, Target, etc, where does one shop these days?
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: hal
Date: October 26, 2019 09:02PM
Quote
space-time
if one does not like Costco, and assuming they have similar feelings for Walmart, Amazon, Target....

I wouldn't assume that...
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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: M A V I C
Date: October 26, 2019 09:34PM
Congrats to Filliam H. Muffman for finding that old thread. Lots of details there. There's been others as well. People can doubt it all they want. I've seen it first hand, as well read plenty of other articles about it.

Quote
space-time
EDIT: I also I find that original story suspicious. Costco may have sold 100, 200 or 300 of that particular bike. How many need warranty? 10? 20? 30? how much is the warranty on a $200 bike? $50? if the shop went out of business because of that, there were bigger issues.

I wasn't going to respond to this, but I will anyway. I forget the exact number, but it was something like 100 thousand bikes. It put the bike company into bankruptcy as well. You seem to have missed some key parts of that thread. Here's a couple:
>[The shop] spends several hundred thousand and buys its seasons full of Brand X bikes.
>The bikes are sold at Costco down the road from the bike shop. They're sold for $199 - $50 less than the local shop's wholesale price.




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Re: Costco Is the Most ‘Woke’ Company Out There
Posted by: Racer X
Date: October 26, 2019 10:19PM
well, for the record, back then in 2008 I asked in that thread why they couldn't beat the Washington State's Liquor Control Board's monopoly on selling distilled spirits. Costco DID beat them, and we can buy distilled spirits from anyone who got the license.
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What is this 'Woke' business?
Posted by: RAMd®d
Date: October 27, 2019 01:50PM
I guessed correctly based on the context, but decided to verify my trust in my ability.

This turned up and made be laugh almost out loud.

Unless you've been living under a rock (or just very much removed from social media, in which case, I applaud you for going to a place I never will[[b]*[/b]]), then the concept of "woke" being used as an adjective is not a particularly new thing for you. As in, "stay woke." You've seen that phraseology floating around, I'm sure. But what does "woke" mean, specifically, when used in that form? I can already hear the Baby Boomers grumbling about the future of the English language, but honestly, they're the reason we pepper our sentences with extra "likes." They can, like, go grumble elsewhere.


*Me, to a T.




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