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Thread: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by haymarket View Post
    Perhaps I overstated it. Thank you for pointing that out. Mea culpa.

    Allow me to rephrase it: the Wal Mart model is certainly NOT the only way to succeed in modern retail business. One can pay their employees a decent wage and accept a union as part of the operation and still be successful.
    some but not all because consumers in large will sacrifice service and quality for a cheaper price. Consumers dictate the price of a product not the seller

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by windowdressing View Post
    jobs being outsourced, the gap between the haves (the few) and have nots (the many) widening all the time ... the data you provide is exactly my point ... the rich get richer and the poor get poorer ... so, yes, it does look like that ... but you're kidding, right? if you don't see this, you have to be one of the few who doesn't ...
    I can tell you are thinking with the failed liberal economic theory

    You think that wealth is finite. it is not wealth is created it is infinite you don't have to take wealth from one and give to another to close the gap. you can close the gap by having the ones on the lower end of the spectrum create their own wealth

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by Dittohead not! View Post
    Not only that, but if more businesses followed that model, there would be a bigger market, more taxes, and fewer people on food stamps.
    Agreed. As a taxpayer, I take personal offense to Wal Mart and others intentionally keeping salaries low knowing that government will subsidize the income of their lowly paid employees. That is the worst sort of corporate welfare and is one of the reasons I NEVER shop there.
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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by trfjr View Post
    some but not all because consumers in large will sacrifice service and quality for a cheaper price. Consumers dictate the price of a product not the seller
    Could you explain to me how a corner in a town with three gas stations on opposite corners all have the same price when consumers are dictating that price and almost all appear to be unhappy paying it? The last part is my assumption based on my observation.
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    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by haymarket View Post
    Agreed. As a taxpayer, I take personal offense to Wal Mart and others intentionally keeping salaries low knowing that government will subsidize the income of their lowly paid employees. That is the worst sort of corporate welfare and is one of the reasons I NEVER shop there.
    the salaries are low so to keep their operation cost low so they are able to sell their products cheaper that the consumer demands. why does the left have such a hard time grasping simple economics.

    the problem is the left never wants to point their finger inwards they don't want to admit it is the consumers fault way wages are low because the consumer demands cheaper and cheaper prices there for businesses have to keep their operation cost low to keep their prices low

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by haymarket View Post
    Could you explain to me how a corner in a town with three gas stations on opposite corners all have the same price when consumers are dictating that price and almost all appear to be unhappy paying it? The last part is my assumption based on my observation.
    because if one gas station on that corner lowers its price to satisfy the consumers demand for cheaper gas the other will have to follow or have no costumers

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by trfjr View Post
    the salaries are low so to keep their operation cost low so they are able to sell their products cheaper that the consumer demands. why does the left have such a hard time grasping simple economics.

    the problem is the left never wants to point their finger inwards they don't want to admit it is the consumers fault way wages are low because the consumer demands cheaper and cheaper prices there for businesses have to keep their operation cost low to keep their prices low
    For my part, I accept and acknowledge that customers want low prices. I also accept and acknowledge that we live in an era where short term gain almost always seems to be more important than long term impact. And therein lies part of the problem.

    People moved to small towns for many reasons - one seems to be the small town atmosphere that Sam Walton himself held in high esteem and even idealized. However, it is well known that when Wal Mart and other bigbox stores come to small towns, the main street begins to die and wither as small local merchants cannot compete due to the big store with their lower prices driving them out of business. Short term gain radically changes the very quality that made the small town charming and desirable places to live in the first place.

    Many of the people who shop at Wal Mart tend to be lower income blue collar folks - the very ones who have been hurt by the decrease in manufacturing and good union jobs in the USA. They - for short term gain - participate in the rape of their own future.

    I find both to be very very sad.
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    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by trfjr View Post
    because if one gas station on that corner lowers its price to satisfy the consumers demand for cheaper gas the other will have to follow or have no costumers
    And this unique reality applies only to gas stations? I can go to four different grocery stores and find four different prices for apples or oranges or corn flakes or other items as well - some of which are fairly large differences. Why is the gas business different and special?

    Why is the opposite not true? We constantly hear from the free market Austrian types that the market will rule. I just gave you an example - which can be found all over the land - of obvious price fixing which is counter to the free market and competition. Why do you excuse that instead of condemning it?
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    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by haymarket View Post
    And this unique reality applies only to gas stations? I can go to four different grocery stores and find four different prices for apples or oranges or corn flakes or other items as well - some of which are fairly large differences. Why is the gas business different and special?
    Usually it's because it's only for gas that people go to them for. I have never heard of someone buying expensive gas because they aslo sell cheaper soda

    People go to the grocery store to by a wide variety of items, some are cheaper elsewhere some are more expensive elsewhere. Most people value time over the small differance is pirce so they don't go running to 4 different grocery stores to do their shopping.
    There is only one basic human right, the right to do as you damn well please. And with it comes the only basic human duty, the duty to take the consequences.
    P. J. O'Rourke

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by Heebie Jeebie View Post
    Usually it's because it's only for gas that people go to them for. I have never heard of someone buying expensive gas because they aslo sell cheaper soda

    People go to the grocery store to by a wide variety of items, some are cheaper elsewhere some are more expensive elsewhere. Most people value time over the small differance is pirce so they don't go running to 4 different grocery stores to do their shopping.
    I know two people who own service stations. One whose family has been in the business for over forty years in the same location. Both tell me that they make their big money off the sale of the hundreds of other items that they sell which includes everything from breakfast sandwiches to candy to soda pop to magazines to milk and bread. They do make money off gasoline but not as much. And they both admit that they set prices determined by the competing stations closest to them. It is NOT customers which determine their prices but a combination of the major oil companies and their competition.

    The older one said that years ago, when they had two service bays, that is where the big profits came from but today the same space yields more profit per square foot in the afore mentioned items.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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