#jim sinegal

[amalgamasreal]

This quote is from Jim Sinegal, founder of Costco, in 2013 and the quote about the hot dogs is from 2020.

He's stepped down as CEO now, but even after he dies I'm sure that anyone who tries to so much as look at changing the price on those goddamn hot dogs will have to deal with his spirit coming back and murdering them on the spot.

He use to visit every single Costco in the world every single year and made it his mission to meet with every employee face to face on his trips. He didn't always succeed, but he wanted to make them feel like they actually mattered to him and the company.

This is what a business should be run like, and sadly so many would say his methods are out dated and inefficient.

[maturemenoftvandfilms]

Thoughts on Jim Sinegal?

I could do him.

[allthenewzworld]

After 30 years in business, Amazon is a $2 trillion behemoth and one of the world's largest retailers.

But back in 2001, its very survival was in doubt after the dot-com bubble burst and Amazon's stock dipped by 90 percent. Some critics believed Amazon was doomed to never recover, but founder Jeff Bezos turned things around - with some helpful advice from Jim Sinegal, founder of rival retailer Costco.

That year, Bezos met Sinegal for coffee at a Starbucks inside a Barnes & Noble near Amazon's offices in Bellevue, Washington, according to the 2013 book "The Everything Store," by journalist Brad Stone. Bezos wanted to talk about using Costco as a wholesale supplier for some products, but the meeting's key takeaway ended up involving pricing strategies.

Tap the link in the bio to learn more about their conversation.

[bedlam-moon]

is someone going to go jim sinegal on him? would be a peculiar turn of events

quote:

“By having the discipline to say, ‘You are not going to be able to raise your price. You have to figure it out,’ we took it over and started manufacturing our hot dogs. We keep it at $1.50 and make enough money to get a fair return.”

yeah. figure it out.

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We will continue to fight to make Tumblr safe for us all.

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[allaboutmarketing4you]

Why Costco is Cheaper than Amazon

Video Source: PolyMatter

"The story of Costco begins decades before the first store launched in 1983 with FedMart, a discount department store for government employees.

FedMart was founded by entrepreneur Sol Price. Jim Sinegal started his career at FedMart and thought of Price as a mentor.

The pair developed and refined the wholesale club strategy together at FedMart, which was one of the first general merchandise retailers to expand into other categories like groceries, gasoline, and prescription drugs.

Sam Walton liked what Price and Sinegal were doing with FedMart in California so much that he opened the first Walmart in Arkansas 1962.

After an investor forced Price out of FedMart, he leaned more heavily into the membership model in 1976 with Price Club.

Price wanted his store to be a wholesale supplier for small businesses, and he opened his first location in an old aircraft hangar that was once used by aviator Howard Hughes.

In 1983, Sinegal and Walton each launched members-only warehouse clubs — Costco and Sam’s Club — that bore striking resemblance to Price Club.

The basic concept across each company was the same: shoppers pay a fee in order to gain access to the bargain pricing. In each case, the business relies on membership fees more than product markups to earn a profit.

Company sales in that first year reached $101 million, plus $1.3 million in membership fees, according to SEC filings.

In the beginning, non-members could shop as long as they paid a 5% surcharge on their purchases. There are still a few ways to shop at Costco without a membership.

Sales at Costco rocketed from zero to $3 billion in less than six years — a first for any company in history, according to the company.

Costco became a publicly traded company in 1985, initially offering shares for $10. Due to several stock splits, one initial Costco share would be six today, worth a total of more than $3,200.

Despite their similarities, Costco, Price Club, and Sam's Club weren't direct competitors, as each had a sizable geographic territory in which to expand.

Price Club was largely in the Southwest, centered in San Diego, while Arkansas-based Sam's Club had the Midwest and Southeast, and Costco took the Northwest, headquartered in the Seattle area.

One way Costco found to keep prices low was to sharply limit the number of different products in its inventory.

Even today, Costco only carries around 4,000 unique products in its assortment — referenced by stock-keeping-unit codes or SKUs — while typical supermarkets carry 30,000 or more.

In 1993, Price Club and Costco joined forces and began operating as PriceCostco with 206 locations and $16 billion in annual sales.

The company dropped the awkward PriceCostco branding in 1997 and reverted to Costco.

A few remaining Price Club locations were rebranded to Costco at this time as well.

In its 20th anniversary year, Costco had 430 warehouses in North America, Asia, and the UK, over 40 million membership cardholders, and generated $42.5 billion in revenue.

That year the company ranked ninth among the world's largest retailers.

US warehouses that year generated an average of $112 million in annual sales, while 11 locations exceeded $200 million.

Costco also opened its fifth Business Center that year, a concept that caters more to small business owners than to household shoppers.

Sinegal retired as CEO on January 1, 2012, handing the leadership to the company's head of merchandising, Craig Jelinek.

Sinegal continued to serve as Company Advisor and Director, ultimately retiring from the Board in 2018.

Jelinek had also previously worked for FedMart, and was one of Costco's early hires in the 1980s, rising to vice president in 2004 and currently CEO.

Jelinek was in charge of opening Costco's sixth location and helped the company expand in Nevada and California. As vice president of merchandising oversaw a range of priorities including e-commerce, foods, and pharmacy.

Costco became the third largest retailer in the world in 2014, a ranking it still holds today behind Walmart and Amazon.

Walmart made more than $600 billion in worldwide retail sales in 2022, followed by Amazon at $343 billion, and Costco at $217 billion, per the National Retail Federation.

Costco turns 40 this year with 852 locations around the world and more than 124 million membership cardholders.

Costco has made more than $235 billion in revenue over the past four quarters. "

Partial article - Source: businessinsider

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[aal828aal]

My friend Ahmad and I attended a 10th-anniversary celebration of the Sinegal Winery in its beautiful Saint Helena estate yesterday. Sinegal Winery is a renowned boutique winery in Saint Helena, Napa Valley, California. Known for its exceptional wines, the estate offers a charming and intimate setting for wine enthusiasts to explore their impressive selection of handcrafted varietals. My friend loves all their wine, but his top pick is the Róse. I love the reserves. The Sinegal winery’s commitment to quality and tradition has earned it a reputation as a must-visit destination for wine connoisseurs seeking an authentic Napa Valley experience. A few dozen of wine enthusiasts showed up to enjoy their exceptional wine, food, and music under the beautiful weather by the estate’s man-made lake. Their staff were incredibly hospitable and accommodating. They are just great people.

Jim Sinegal (the cofounder of Costco Wholesale) and his wife Janet were at the event to enjoy the fruit of flavors he confounded with their son, David Sinegal. Jim is incredibly active and has an unbelievable memory. We have not met for almost a decade, but he still remembers me. Jim is a tough but fair and very kind entrepreneur. He passed the baton to his hand-pick successor, Craig Jelinek, for over a decade, but I think he still thinks of Costco as his baby and loves the people who work there dearly.

It was a great day.

[the-active-news]

How Much Money Did James Comey Made In His Career?

James Comey, full name James Brien Comey, was the Federal Bureau of Investigation's director from 2013 to 2017. He was born in Yonkers, New York, on December 14, 1960. (FBI). Irish Americans made up Comey's family. His father worked in commercial real estate, while his paternal grandfather was a police officer. Comey was raised in Allendale, New Jersey, and later attended the College of William & Mary to study chemistry and religion. He received a law degree (1985) from the University of Chicago after graduating in 1982. Gotta act fast if you wanna know James Comey's net worth! Let's hustle and find out ASAP.

James Comey's Net Worth

James Comey is a lawyer from the United States with a $16 million fortune. Comey stated that he had an $11 million net worth when he was going through the Senate confirmation process to take the helm of the FBI in 2013. After leaving the FBI, Comey made a fortune making private talks, but the majority of his wealth stems from his tenure as general counsel and SVP of Bridgewater Associates. The investment company has been dubbed the largest hedge fund in the world by Ray Dalio. From 2010 through 2013, Comey was employed by Bridgewater. His pay at Bridgewater alone in his final year was $6 million. The year after he left, he received a $3 million profit participation payout. Read More: - Jessica Lowndes Net Worth: Is Collaborate On GAC Family Someday At Christmas? - Jim Sinegal Net Worth: Why A Costco Brand Almost Had A Whole Different Name?

The Crosswise Hurricane Of James Comey

It's possible that James Comey was correct all along regarding Russia's involvement. However, the alleged offender was a member of Mr Comey's own FBI team, not the Trump campaign. Charles McGonigal, a seasoned agent, was selected by Mr Comey in 2016 to lead the bureau's counterintelligence operations in New York, where he handled some of the most delicate work. A Saturday arrest for Mr McGonigal resulted from two indictments. The Crossfire Hurricane probe into allegations that the Trump campaign conspired with Moscow to rig the 2016 election was one of them: https://twitter.com/DudeFlyover/status/1618607261319847936 He is accused of breaking American sanctions against Oleg Deripaska, a Russian oligarch and ally of Vladimir Putin, in the New York indictment. It claims that Mr Deripaska hired him and Sergey Shestakov, a former Soviet and Russian ambassador, to look into a rival tycoon. Additionally, the two men allegedly tried in vain to remove Mr Deripaska from the sanctions list. Charges of money laundering are related to the effort to conceal the payments. Mr McGonigal was also charged with nine counts of hiding his association with a former Albanian intelligence officer in Washington at the same time. According to the accusation, this man sent him cash payments totalling $225,000 in secret. It further claims that the former Albanian intelligence officer was a confidential informant in an investigation into foreign lobbying that the FBI launched at Mr McGonigal's request.

FAQs

How Old Is James Comey? 62 years (December 14, 1960) Is James Comey Still FBI? Director of the Federal Bureau of Investigation (2013–2017) Can The FBI Director Be Fired? Under the Constitution, the FBI Director is an executive branch official and can be removed if needed. But only in one instance since 1908, after the FBI and its predecessor agency were formed, has a President removed an FBI Director from office. Check out The Active News for the latest scoop, lingo, and more! Keep up with the Zoomer culture and stay in the know. Read the full article

[pissfootmark]

The costco hot dog is still the most reliable thing in my life. RIP Jim Sinegal.

[egtcp-blog]

Loan growth helps JPMorgan beat expectations despite trading decline

[i-was-today-years-old-when]

i learned that Costco's hot dog has remained $1.50 since it was first introduced in 1984. After the company president complained they were losing money on it, CEO Jim Sinegal put his foot down. "If you raise [the price of] the effing hot dog, I will kill you," Sinegal said (x)

[mindblowingfactz]

Costco’s hot dog has remained $1.50 since it was first introduced in 1984. After the company president complained they were losing money on it, CEO Jim Sinegal put his foot down. “If you raise [the price of] the effing hot dog, I will kill you,” Sinegal said.

[wantonamblingnymph]

and if they ever try to raise the prices Jim Sinegal kills them with his bare hands

testosterone should be sold by the gallon for cheap at every costco. a buck fifty. like the hot dog

[halliechi]

Jim Sinegal

思敘有條理，加上平穩的聲調，公司例行的會議，在他的詮釋下，猶如床邊故事，讓人聽得痴醉。大圓的肚子和灰白的頭髮讓人安心，正如他們公司產品的價格和品質一樣。他的風格樸實，他的經營理念簡單，沒有廣告、沒有高價的代言人、沒有花招，大賣場裏賣的品牌不超過4000種，量販店內沒有心機重又算計過的商品擺設模式，他們也不作廣告行銷，仰賴的是顧客口耳相傳的好名聲，他們相信這是最有價值的廣告宣傳。他們只跟有品質的品牌合作，不花時間口費脣舌拉攏大廠商。省下了上架費、沒了廣告代言費和公關費，用最簡單的管道、最低廉的價格抓住口碑，邁開步伐在全世界拓展，背後推手正是平常又不平凡的美國爺爺Jim Sinegal，Costco的CEO和Cofounder。

2019年總計，全世界共有770間Costco(仍在增加中)，2015年銷售額為113億美金，更要提一下讓許多人為之瘋狂的熱狗和烤雞，他們是創造銷售奇蹟的要角。Bloomberg 稱他們為簡樸的經營者，如此極特別的行銷策略為世界第一。 店裏沒有燈光聲效和華麗裝橫，灰土土不修邊幅、彷彿毛胚屋的賣場，天天在全球吸引上千萬的顧客。

Costco愛員工愛顧客是他們的企業精神，時薪制員工每小時22美金，相較其他大賣場員工以12美金計算，這是相當可觀的“高薪”。薪資及升遷系統為電腦自動調薪升職，不假借他人之手，沒有主觀的論斷���主管的偏袒，因此而擁有全美最低的離職率(比正常低5倍)，更驚人的是，員工中有百分之30從1993年效忠致今。

這一切歸功於Costco的CEO －Jim Sinegal。

Costco在1976年成立時，身為CEO的Jim，薪水只有平均CEO的13分之一，他視自己和其他的員工一樣，準時上下班，他配帶員工證，證上沒有別的頭銜，就只有他的名字Jim。他喜歡他的員工，他天天想跟他們說早安、道再見，沒事就跟他們喝咖啡聊天。Jim年紀已不小，灰白的頭髮，一直到今天，仍然努力的在全美飛來飛去造訪店面，整理價格掛牌、重新考慮賣場位置、跟客人介紹上架新品，不時在展場裏走來走去試吃問安，天天忙碌充實。

Jim Sinegal認為，給投資者最好的獎賞，就是他們愛顧客愛員工的熱情，及視人為重的經營哲學。這世界上如果有哪家公司發現，他們有顧客竟然忠實到天天光顧，這就是經營成功的像徵和奇蹟。這件奇蹟在Costco上下員工的眼中，不是神話，是稀鬆平常之家常便飯。在Jim Sinegal的細心照顧下，客人都成了Costco的信眾，許多民眾更稱自己是’Costcoholic’。

沒有人知道，Costco的CEO合約竟然少於一頁A4，年薪至今也只有30萬美金。如此平凡的大賣場，有的是一個不平凡、價值超凡的CEO—Jim Sinegal。

[analyzingtaylor]

what do you think other big retailers like costco would be like in the future? I heard costco has one of the lowest employee turnovers partly due to the fact of how they treat their employees and pay them. Will automation become their new employees?

I remember reading in the New York Times that Costco’s positive workplace culture can be attributed to one man, whom Wall Street is glad recently retired. I am not sure what the future holds, but I assume their system was always efficient because of the nature of selling goods straight from pallets.

https://mitsloan.mit.edu/ideas-made-to-matter/how-costcos-obsession-culture-drove-success

In an interview published in the Houston Chronicle on July 17, 2005, (longtime Costco CEO Jim Sinegal) told Steven Greenhouse that he did not care about Wall Street analysts who had criticized him for putting good treatment of employees and customers ahead of pleasing shareholders. Investors might want higher earnings, but Sinegal stated, "We want to build a company that will still be here 50 and 60 years from now."

[the-active-news]

How Much Money Do Damon Welch Have In 2023?

An American actor for both film and television, Damon James Welch. His work on Raquel's Complete Beauty and Fitness (1984), Biography (1987), and Intimate Portrait are well known (1990). The age of Damon Welch is 59. He was born in San Diego, California, USA, on November 6, 1959. Raquel Welch, an American actress, and singer, is Welch's mother. His father is a writer by the name of James Welch. His eldest sister, Tahnee Welch, is a model and actress. Hurry up and get the scoop on Damon Welch's net worth! Time's ticking, don't miss out!

Damon Welch's Net Worth

Welch's varied portfolio was successful. Welch had a net worth of almost $40 million at the time of her passing. Welch was more than just a sex icon; perhaps her greatest legacy is that she was one clever cookie. Check Out: - Jessica Lowndes Net Worth: Is Collaborate On GAC Family Someday At Christmas? - Jim Sinegal Net Worth: Why A Costco Brand Almost Had A Whole Different Name?

Damon Welch Family

Raquel Welch, 82, passed away today. Welch "died away quietly early morning following a brief illness," according to her manager Steve Sauer, who confirmed the tragedy people. The actress dies leaving behind two children in addition to a legacy in beauty, cinema, and television. She gave birth to Damon Welch and Latanne "Tahnee" Welch during her marriage to James Welch, her high school sweetheart. Even though James and the actress separated in 1972, she has occasionally been spotted out with her kids throughout the years. Here is all there is to know about Welch's kids. Damon wed Rebecca Trueman, a cricketer for England and the daughter of Fred Trueman, in June 1991, Welch chose a low-cut black dress for the wedding, and several media outlets reported that Damon and Rebecca were at odds with Welch over the attire decision at the time: https://twitter.com/BeingBoycie/status/1625982088821325825 Damon Welch: On November 6, 1959, Welch and her then-husband James Welch received their first child, a son they called Damon Welch. Damon appeared with his mother on various occasions over the years. Damon accompanied his mother to the 46th Academy Awards in April 1974, where Welch presented. This was one of Damon's earliest public performances. He went with her to a lot of additional award ceremonies and premieres, such as the Crocodile Dundee 2 Hollywood premiere in 1988 and the 39th Annual Emmy Awards in September 1987 (seen above). Latanne "Tahnee" Welch: on December 26, 1961. Welch had her first child at the same time that her career was beginning to take off. With breakthrough performances in 1966's Fantastic Voyage and One Million Years B.C., Welch made her film debut in the middle of the 1960s. Welch revealed in a prior interview with Oprah Winfrey how her early profession hurt her family. "I couldn't always be with my children when I wanted to be because I'm running around the world and being Miss Sex Symbol and having this big job in cinema and everything," she added. I eventually realized that this was having an impact on my children, and it used to make me very sad.

FAQs

What Ethnicity Is Raquel Welch? Welch was born Jo-Raquel Tejada in Chicago, Illinois to a Bolivian father and an American mother. How Old Is Damon Welch? 63 years (November 6, 1959) Who Is Raquel Welch Survived By? She is survived by her son Damon James Welch and daughter Tahnee Welch. Why Does Raquel Welch Wig? Raquel Welch famously said in her 2010 autobiography Raquel: Beyond the Cleavage “with the aid of a wig, I have more versatility in my life, and so can you!” And versatility is the key here as one of her wigs can give you as much freedom as if your salon-inspired tresses sprung naturally from your head! Stay up-to-date on what's happening by checking out The Active News for the freshest news! Read the full article

[remoteresource]

20 Famous Quotes by Business Personalities that Highlight the Benefits of Global Hiring

“If you think it’s expensive to hire a professional, wait until you hire an amateur.” – Red Adair

“Time spent on hiring is time well spent.” – Robert Half

“Sourcing and finding people is the most important. You can’t recruit, message, or network with someone you haven’t found.” – Glen Cathey

“Your human talent is your most important talent.” – Carla Harris

“Hiring the wrong people is the fastest way to undermine a sustainable business.” – Kevin J. Donaldson

“People are not your most important asset. The right people are.” – Jim Collins

“Acquiring the right talent is the most important key to growth. Hiring was — and still is — the most important thing we do.” – Marc Benioff

“To hire is to take people higher…” – Haresh Sippy

“Great vision without great people is irrelevant.” – Jim Collins

“A modern recruiter is one who is targeted, builds relationships and knows how to not only find candidates but also get them to respond!” – Stacy Donovan Zapar

“I am convinced that nothing we do is more important than hiring and developing people. At the end of the day you bet on people, not on strategies.” – Lawrence Bossidy

“Recruiting should be viewed as a business partner, someone who is critical to the success of the business.” – Mathew Caldwell

“Human Resources isn’t a thing we do. It’s the thing that runs our business.” – Steve Wynn

“Recruitment IS marketing. If you’re a recruiter nowadays and you don’t see yourself as a marketer, you’re in the wrong profession.” – Matthew Jeffrey

“Train people well enough so they can leave, treat them well enough so they don’t want to.” – Richard Branson

“If you hire good people, give them good jobs, and pay them good wages, generally something good is going to happen.” – James Sinegal

“Acquiring the right talent is the most important key to growth. Hiring was — and still is — the most important thing we do.” – Marc Bennioff

“The secret of my success is that we have gone to exceptional lengths to hire the best people in the world.” – Steve Jobs

“You can dream, create, design and build the most wonderful place in the world…but it requires people to make the dream a reality.” – Walt Disney

“Your employer brand is never what you say it is. It’s what your employees and candidates say it is.” – Jillian Einck