The Wall St. Journal, that well-known leftist rag, had some info on this topic recently.


In a 28 March 2004 article, the WSJ pointed out that even economy-minded megastores need not be a Walmart blight on the corporate landscape. Costco treats its emloyees far better than Walmart ever has.

Employees covered by health insurance
    Costco--82%
    Walmart-48%

Insurance enrollment waiting periods
    Costco---fullltime 3 months, part-time 6 months
      Walmart-fullltime 6 months ,part-time 2 years


Portion of health care premium paid by company
    Costco--92%
    Walmart-67%


Annual worker turnover
    Costco--24%
    Walmart-50%


In response to analysts' criticism of lower profit rates at Costco, CEO Sinegal says"I happen to believe that in order to reward the shareholder in the long-term, you have to please your customers and workers"


Costco pays starting employees at least $10/hr. Cashiers are paid $10.50 to $17.50 per hour. With regular raises a full-time hourly worker can make $40,000 per year within 3 1/2 years.

Walmart doesn't give its wage rates since they vary by location. Cashiers in its Las Vegas supercenter were paid $7.65 to $11.45 an hour. It would be interesting to know what they get in Texas and Arkansas.


A letter to the Journal 8 April 2004 stated: "I will continue to seek out those companies that try to balance the needs of workers and shareholders. Not doing so is how we got to where we are now--companies focused only on the short-term bottom line, and the scandals that have erupted from that mentality"

Another letter, 15 April, points out "Walmart has succeeded at least in part because of government concessions, tax incentives and credits, financial assisstance and infrastructure subsidies. Hardly a model for free enterprise"

Yet another letter to the WSJ states that " while most Walmart employees get paid below the poverty line, the CEO received $18 million in total compensation. With profits of $8 billion, it seems reasonable that the company could provide employees with adequate wages. As taxpayers, those of us with decent salaries involuntarily subsidize Wal-Mart employees with food stamps, child care and housing vouchers."


That's something even Socially Liberal Business Dude can understand.