#jim sinegal

[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.

A message from a few of the trans staff at Tumblr & Automattic:

We want trans people, and LGBTQ+ people broadly, to feel welcome on Tumblr, in part because we as trans people at Tumblr and Automattic want it to be a space where we ourselves feel included. We want to feel like this is a platform that supports us and fights for our safety. Tumblr is made brighter and more vibrant by your presence, and the LGBTQ+ folks who help run it are fighting all the time for this, for you, internally. 

A few days ago, Matt Mullenweg (the CEO of Automattic, Tumblr’s parent company) responded to a user’s ask about an account suspension in a way that negatively affected Tumblr’s LGBTQ+ community. We believe that Matt's response to this ask and his continued commentary has been unwarranted and harmful. Tumblr staff do not comment on moderation decisions as a matter of policy for a variety of reasons—including the privacy of those involved, and the practicalities of moderating thousands of reports a day. The downside of this policy is that it is very easy for rumors and incorrect information about actions taken by our Trust & Safety team to spread unchecked. Given this, we want to clarify a few different pieces of this situation:

The reality of predstrogen's suspension was not accurately conveyed, and made it seem like we were reaching for opportunities to ban trans feminine people on the platform. This is not the case. The example comment shared in the post linked above does not meet our definition of a realistic threat of violence, and was not the deciding factor in the account suspension.

Matt thereafter failed to recognize the harm to the community as a result of this suspension. Matt does not speak on behalf of the LGBTQ+ people who help run Tumblr or Automattic, and we were not consulted in the construction of a response to these events.

Last year, the "mature" and "sexual themes" community labels were erroneously applied to some users' posts. An outside team of contractors tasked with applying community labels to posts were responsible for this larger trend of mislabeling trans-related content. When our Trust & Safety team discovered this issue (thanks largely to reports from the community), we removed the contracted team’s ability to apply community labels and added more oversight to ensure it does not happen again. In the Staff post about this, LGBTQ+ staff pushed to be more transparent but were overruled by leadership. The termination of a contractor mentioned in the original ask response was for an unrelated incident which was incorrectly attributed to this case. We regret that the mislabeling ever happened, and the negative impact it has had on the trans community on Tumblr. 

Transition timelines are not against our community guidelines, and weren’t a factor considered by the moderation team when discussing suspensions and subsequent appeals. We do not take action against content that is related to transitioning or trans bodies unless it includes violations of the Community Guidelines.

When it comes to the experience of trans folks on Tumblr encountering transphobic content, and interacting with bigoted users, we understand and share your frustrations. Tumblr’s policies, and Automattic’s policies, are written to ensure freedom of speech and expression. We prohibit harassment as defined in our Community Guidelines, but we know that this policy falls short of protecting users from the wider scope of harmful speech often used against LGBTQ+ and other marginalized people.

Going forward, Tumblr is taking the following actions:

Prioritizing anti-harassment features that will empower users to more effectively protect themselves from harassment.

Building more internal tooling for us as Staff to proactively identify and mitigate instances of harassment.

Reviewing which of the tags frequently used by the trans community are blocked, and working to make them available next week.

We’re sorry for how this all transpired, and we’re actively fighting to make our voices heard more and prevent something like this from happening again in the future. We know firsthand that having to deal with situations like this as a Tumblr user is difficult, particularly as a member of an already frequently targeted and harassed community. We know it will take time to regain your trust, and we’re going to put in the work to rebuild it.

We appreciate the space we have been given to express our concerns and dissent, and we are thankful that Matt’s (and Automattic’s) strong commitment to freedom of expression has facilitated it.

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

— This statement was authored by multiple trans employees of Tumblr and Automattic.

[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.

[pissfootmark]

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

[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.

[maturemenoftvandfilms]

Thoughts on Jim Sinegal?

I could do him.

[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.

[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��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，沒有主觀的論斷和主管的偏袒，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 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

[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

[goalhofer]

Famous January 1, 2022 birthdays.

Jim Sinegal (American businessman), 86

Frank Langella; Jr. (American actor)(pictured), 84

Grandmaster Flash (Barbadian-American rapper & DJ), 64

Panagiotis Giannakis (Greek basketball player & coach), 63

Morris Chestnut (American actor)(pictured), 53

Bobby Holík (Czech-American hockey player), 51

Chris Anstey (Australian basketball player & coach), 47

Becky Kellar-Duke (Canadian hockey player), 47

Fernando Tatís (Dominican baseball player), 47

Vidya Balan (Indian actress), 43

Tiago Splitter (Brazilian basketball player), 37

Ramses Barden (American football player), 36

Ronald Davis (American basketball player), 36

Patric Hörnqvist (Swedish hockey player), 35

Jason Pierre-Paul (American football player), 33

Darius Slay; Jr. (American football player), 31

Xavier Su’a-Filo (American football player), 31

[lexichan0107-blog]

Business Networking Articles.

So you've gotten an e-mail that of your products have gotten an Amazon's Option badge. You could never ever find yourself welcomed over to Jim Sinegal's residence for vacation supper, yet that doesn't imply you will never ever achieve success selling your products to Costco if you are prepared. On the internet stores do provide several settlement techniques where a customer could buy a product by making payment with their credit card or debit card, Internet Banking, Present Cards, Bank Transfer. Magento shopping, shop for your products and services, depending upon the worth of your brand to assist raise the sale of the structure. It is in fact a software program which is specifically made to appropriately manage the affairs of the on the internet company with continuous interaction solutions. Ideally, in the day time you would certainly have the ability to manage your shop's admin activities like billing and also item order information, etc Since it means that you will certainly make even more as well as sell even more, this is good for sellers. Ecommerce small businesses are now phoned call to see just how they can make use of curated web content proactively to enhance their clients' experience online. Amazon has modern online order handling as well as gratification procedures. Since it is a brand that clients trust fund, Amazon is the largest on the internet seller. In various other markets, Amazon focused on appeal items years after developing itself in core sectors such as electronics, playthings and residence items. Based upon study, the presence of reviews boosted the quantity of on the internet traffic in many on the internet buying stores than just what was there prior to. After you ship your product, make sure to confirm the shipment in the Amazon seller central. Delivering with Amazon aims to use lower costs compared to rivals by adding these deliveries to vehicles taking care of Amazon.com's own orders. Opening up a brand-new fulfillment center could pave the way for more third-party sellers to take part on its on the internet market. Claim your complimentary ebay.com Selling Keys Report at Powerseller Vessel. Nevertheless, the current rise of Amazon third-party sellers has brought about a rate war among sellers, requiring them to lower prices in order to maintain sales. When consumers go shopping online, they do not have the comfort to pick up an item and examine it out. As an example, has his entire collection including books, e-books and also audio books in both English and also Spanish, all discounted off the full cost. However before you start your Amazon.com FBA company journey, you will should generate policies and also approaches that will certainly regulate your service. For you to start offering your product on Amazon, the very first thing you need to do is register. Realistically, among the bottom lines of Amazon.com Prime is to obtain individuals to spend more on Amazon, hence, a successful Prime program in fact adds to Amazon's total shipping costs. Individual discussion forums are an excellent source of comments on the shopping service' products and services. Amazon customers utilize Prime so they break out shipping. You as the item seller no more have to deal with the client service after the sale. Amazon's bookselling website is one of the globe's most effective shopping companies, accounting for over 5% of all on-line sales. This primarily includes an integrated blog site for us to create post and produce material to market your items. Amazon.com is also responsible for handling the communication solutions, customer assistance, as well as refunds also. In one marketing research survey from ChangeWave, a 3rd of Kindle proprietors claimed they planned to increase their Amazon spending over the following 90 days, compared to 19% of non-owners. If you do a search on amazon.com for a bestseller, you will certainly find that lots of people are selling their utilized duplicates, many times for under $1.00. With millions of duplicates out there, the marketplace is glutted. Asking for unneeded info not just irritates the consumers yet additionally causes abandoned shopping carts. For that reason eCommerce solutions that are not incorporated with SAP Organisation ONE by design are disregarded. There is a monthly cost for establishing a shop but the charges that amazon fees are much less in this technique of selling than the straight marketing technique in the prior paragraph.

[caught-tumbling]

Remember that Costco's founder Jim Sinegal threatened to kill the CEO if he raised the price of their hotdogs.

“I came to (Jim Sinegal) once and I said, ‘Jim, we can’t sell this hot dog for a buck fifty. We are losing our rear ends.’ And he said, ‘If you raise the effing hot dog, I will kill you. Figure it out.’ That’s all I really needed. By the way, if you raised (the price) to $1.75, it would not be that big of a deal. People would still buy (it). But it’s the mindset that when you think of Costco, you think of the $1.50 hot dog (and soda).

“What we figured out we could do is build our own hot dog-manufacturing plant (in Los Angeles) and make our own Kirkland Signature hot dogs. Now we are doing so much hot dog business that we’ve opened up another plant in Chicago.

“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.”

Costco knows how to defy things other companies deem "logical" and still make a profit. I hope they keep doing it

Costco defends diversity policies as other US companies scale theirs back | AP News

By  ANNE D’INNOCENZIO

NEW YORK (AP) — Costco shareholders rejected a proposal urging the wholesale club operator to evaluate any risks posed by its diversity, equity and inclusion practices.

According to preliminary results shared by Costco executives at its annual meeting Thursday, more than 98% of shares voted against the proposal.

The National Center for Public Policy Research, a conservative think tank based in Washington, had submitted the proposal, arguing that Costco’s DEI initiatives hold “litigation, reputational and financial risks to the company, and therefore financial risks to shareholders.”

The think tank has made a similar proposal to Apple, and like some American companies that already scaled back or retreated from their diversity policies, cited a U.S. Supreme Court decision in July 2023 that outlawed affirmative action in college admissions.

But Costco’s board of directors voted unanimously to ask shareholders to reject the motion. The board said it believes “our commitment to an enterprise rooted in respect and inclusion is appropriate and necessary. The report requested by this proposal would not provide meaningful additional information.”

[billbennettnz]

Jim Sinegal, model boss

Jim Sinegal is the boss at the US Costco chain. Costco’s stock price has doubled while he has been in charge. Apparently: Sinegal’s name tag just says ‘Jim’. He answers his own phone. His headquarters office doesn’t have walls. He earns an annual salary of US$350,00. He reckons he should be paid more than 12 normal company workers. He has a one page contract which says he can be sacked if…