Jim Sinegal is my new hero. Check out this quote:
Mr. Sinegal, whose father was a coal miner and steelworker, gave a simple explanation. "On Wall Street, they're in the business of making money between now and next Thursday," he said. "I don't say that with any bitterness, but we can't take that view. We want to build a company that will still be here 50 and 60 years from now."
This is my main beef with our economy right now.
We bend the knee to the vultures on Wall Street who are only concerned with short term profits. This means squeezing the customer, squeezing the employee and feeding the shareholder. Want evidence?
It gets better.
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.
What does this filthy socialist do?
You want to know what's wrong with the American economy?
There aren't more people like Jim Sinegal.