In fact, to the people on Wall Street who really run the country, profit seems to be the last consideration in valuing companies.
Here’s an example:
Business Week ran the numbers last year on Costco versus Sam’s Club, a direct competitor which is owned by Wal-Mart.
Costco, a membership wholesale company, pays its full-timers an average of over $16/hour and 92% of their employees’ health insurance premiums.
Wal-Mart on the other hand pays an average of $9.69/hour and 34% of health insurance.
What does Costco get for this? Lower turnover and higher productivity.
Continue reading Class Warfare is More Important than Profit