- the starting wage for Costco employees would go up $1 to $14 or $14.50 per hour, while other warehouse employees would see hourly raises of $.25 to $.50
- the raises are expected to cost the wholesale retail company $110 to $120 million before taxes.
- Costoc credited the raises to last year’s tax bill, which lowered the corporate tax rate and provided a windfall for large corporations
- comment: isn't Bernie Sanders pushing for $15/hour minimum; the Costco $14.50 is for starting wages; within six months those new hires will see their hourly rate going up again; and, they can buy lunch for $1.59 at Costco -- what a great country
- Costco is not the only company to give out raises or bonuses that they attributed to the tax bill
- two of Costco’s competitors have as well. In January
- Walmart raised its starting hourly wage to $11
- Target said it would raise its wages to $12 per hour by the spring and $15 hourly by 2020 (isn't this what Bernie wanted?)
- (Yet other reports show that fewer than 45 of Standard & Poor’s 500 companies gave out bonuses in the four months after the bill went into effect -- from the report.)
- comment: the "race" is not over -- maybe only 45 of the 500 companies so far, but the number will keep increasing -- the journalist writing this story -- no doubt -- sour grapes -- didn't get a raise
Lunch: meanwhile, the price of a private lunch with Warren Buffett is $3.3 million. Tag: jumping the shark.
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