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Jim Sinegal is the boss at the US Costco chain. Costco’s stock price has doubled while he has been in charge.

Apparently:

  • Sinegal’s name tag just says ‘Jim’.
  • He answers his own phone.
  • His headquarters office doesn’t have walls.
  • He earns an annual salary of US$350,00. He reckons he should not be paid more than 12 normal company workers.
  • He has a one page contract which says he can be sacked if doesn’t do his work.
  • His employee turnover rate is the lowest in the retail industry, over five times less than rival Wal-Mart.

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