> I don't see this teleology, honestly. The drive to
> increase earnings doesn't necessarily require a
> Walmart-style assault on labor. Costco, which competes
> against WMT and its SAM's Club, follows a much
> different operating model. For the nature of the work
> completed by most of its employees, it pays what
> passes for a decent wage in this country (this is
> skewed a bit by the warehouse-type environment - more
> forklift and sideloader operators, for instance - but
> the basic point holds). Compare market performance of
> Walmart and Costco shares. Costco's not really being
> penalized for its 'generosity,' at least on a relative
> basis.
Walmart income for 2005: $11.2 billion Costco income for 2005: $1.1 billion
It seems obvious to me what type of management is facilitated by and handsomely rewarded in a capitalist economy.
Miles