Dear Jim Letter

The new President & CEO of Costco got an employment letter (thanks footnoted.org) that has all the personality of the ones any of us could have received from a new employer except for some extra zeros.  And even those weren’t that impressive; $350,000 annual salary?  Yes, possible bonus of $200,000 and stock deals to boot but still, it doesn’t seem that impressive.  I hope this starts a trend.  Transparency and relative parity.  We need to get back to a place where people are well-rewarded for risks but not extravagantly so.  There has to be more incentive to a job well-done than the money to buy third or fourth homes and the rest.  CEOs should be part of the team not above it.  I think everone benefits from that approach.

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