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Sinegal's rationale rang simple—that investing in employees nurtures company devotion and primes superior service. As ever, skeptics abounded. Analysts warned such liberality would sink earnings. Shareholders grumbled at dividends eclipsed by social expenditures. Competitors banked on the superiority of miserly management.
Nov 1, 2008 · As Costco marks its 25th year, straight-talking CEO Jim Sinegal shares his two cents on sustainability, the economy, universal health care, and what our next president should do.
Sep 16, 2020 · Meet Costco's multimillionaire cofounder Jim Sinegal, a Democrat megadonor who was only paid a third of the average CEO's salary during his time leading the wholesale retailer. Taylor Nicole ...
- Henry Blodget
Sinegal is known for a benevolent style of management rooted in the belief that employees who are treated well will in turn treat and serve customers well. Sinegal, through Costco, provided his employees — at every level of the company, including the stores — compensation and benefits that are much higher than retail industry norms.
- Focus Inward, on The Culture
- Culture Isn’T The Most Important Thing — It’S The only Thing
- Leading from The Floor
The answer was to focus inward and look at things from the members’ viewpoint, he said, developing a culture that ensured a good experience by carrying a generous return policy on top-quality products, always passing on the savings of purchasing those products at wholesale on to the customers, spurning the use of misleading advertisements, and offe...
For Sinegal, that culture of promoting passion, integrity, ownership, and motivation in his employees and ensuring that the customer can trust that they are always getting the best deal by shopping with Costco is the core of the company and the key to its success. Sinegal drove the point home by describing a time when the company was selling Calvin...
During his time at the head of the company, Sinegal spent about 200 days of each year visiting warehouses. He felt that was crucial to spend as much time as possible on the frontlines, where money was being made and merchandise was being sold. But his goal wasn’t to parachute in and tear the place apart. Rather, it was to provide constructive criti...
Jul 31, 2013 · Join The Motley Fool for a conversation with retired Costco CEO Jim Sinegal. In love with retail since his first job as a bagger in 1954, Sinegal co-founded Costco and served as president and...
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Sep 28, 2020 · Sinegal stayed with Costco for a long time, serving as its guiding light and helping it grow from strength to strength. For Sinegal, it was crucial to keep the customers' interests in mind while working on Costco's strategy.
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