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It's like heroin: You do a little and you want a little bit more. Raising prices is the easy way.

James Sinegal

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James Sinegal
Age: 88
Born: 1936
Born: January 1
Entrepreneur
Pittsburg
Pennsylvania
Easy
Business
Littles
Little
Way
Heroin
Like
Prices
Raising
Bits

More quotes by James Sinegal

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Obscene salaries send the wrong message through a company.
James Sinegal
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You just can't get too focused on worrying about what's going to happen in the next quarter. You have to worry about where the business is headed long-term.
James Sinegal
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If somehow a proclamation were made that C.E.O.'s could only make a maximum of $300,000 a year, you would not have any shortage of very qualified men and women seeking the jobs.
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When employees are happy, they are your very best ambassadors.
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I say at our management conferences that the amount Wal-Mart grows in just one year is the equivalent of Costco's size.
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It doesn't do much good to have a quality image, whether it's with the facility or whether it's with the merchandise, if you don't have real quality people taking care of your customers.
James Sinegal
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You could raise the price of, say, a bottle of ketchup to $1.03 instead of $1, and no one would know. Raising prices just 3% per product would add 50% to your pretax income. Why not do it? It's like heroin: You do a little and you want a little bit more. Raising prices is the easy way.
James Sinegal
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Technology helps us become more efficient and productive but our business still has a lot of art as opposed to strictly science.
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Paying your employees well is not only the right thing to do but it makes for good business.
James Sinegal
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You destroy the initiative of the working people if they don't feel they have a fighting chance to be a part of the American Dream.
James Sinegal
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I think the biggest single thing that causes difficulty in the business world is the short-term view. We become obsessed with it. But it forces bad decisions.
James Sinegal
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There was a proposal in California that would keep out Wal-Mart but allow Costco. You opposed it. Are you nuts? That's true: I always oppose these kinds of things. Competition makes us better. Some of our best stores have a Sam's Club next door.
James Sinegal
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If you're going to say to all the people that you're working with, 'We want you to treat the customers honestly don't lie and don't cheat,' it is somewhat hypocritical if you're not following the same rules.
James Sinegal
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You don't have a very motivated working class, it starts to affect the dynamics of the economy. If workers are disenchanted and disenfranchised, productivity losses will go along with that.
James Sinegal
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If we take care of the business and keep our eye on the goal line, the stock price will take care of itself.
James Sinegal
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Paying good wages is not in opposition to good productivity.
James Sinegal
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It is improper for one person to take credit when it takes so many people to build a successful organization. When you try to be top dong, you don't create loyalty. It you can't give credit (and take blame), you will drown in you inability to inspire.
James Sinegal