diary:2024-03:2024-03-27 []

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==== 2024-03-27 ====
Notes from https://www.barrons.com/amp/articles/costco-cfo-membership-fees-hot-dog-prices-charlie-munger-61310d05
  * Costco
    * 874 stores
    * market value = $325 billion; P/E = 45
    * gross margin = 13%
    * limits markups to 14% on branded goods and to 15% on Kirkland products
    * 73 million households are members
    * co-founder and longtime CEO Jim Sinegal
    * Craig Jelinik is successor to Jim Sinegal
    * new CEO, Ron Vachris
    * Richard Galanti - long time CFO
    * Costco opened its own hot-dog plant that makes 300 million franks a year
    * Costco owns most of its real estate and maintains a strong balance sheet with more cash than debt.
    * pays $29 an hour while rivals pay around $20.
    * average employee has been with Costco about 10 years
    * veteran cashiers can make over $30 an hour plus get a 9% contribution from the company to their 401(k) plan
    * employees pay ~10% of the cost of healthcare plan vs industry average of 20%

  * Richard Galanti
    * is on the board of a private company, Veterinary Emergency Group, which provides 24-hour service for pets through a chain of hospitals