- James Sinegal
James Sinegal is co-founder and
CEO ofCostco , an international low-price membership retail chain headquartered in Issaquah,Washington , U.S..He was born
January 1 ,1936 in Pittsburgh,Pennsylvania . He was a protege ofSol Price , who pioneered the concept of thewarehouse store that sells high volumes of a small variety of goods. He is known for a benevolent style ofmanagement that offersemployee s high benefits and rewards. According to documentation provided by Costco Wholesale Corporation, in fiscal year 2007 he earned $350,000 in base pay, with additional monies coming from bonuses, stock/option awards and other compensations, totaling $2,981,202 million. This is considerably less than the CEOs of Costco's competitors.Mr. Sinegal is a graduate of San Diego State University (SDSU), although he did not do very well in high school. His teachers actually thought that he would not amount to anything.
Sinegal was named to
Time Magazine 's 2006 list of The 100 most influential people.ports
On
March 6 ,2008 Seattle's Mayor announced that a local ownership group involving Microsoft CEO Steve Balmer made a "game changing" commitment to invest $150 million in cash towards a $300 million renovation of Key Arena and are ready to purchase theSeattle SuperSonics in order to keep them in the City of Seattle. [ [http://www.seattle.gov/news/detail.asp?ID=8243&dept=40 Mayor Nickels announces local effort to buy Sonics, renovate KeyArena ] ] The members of the local ownership group include Microsoft CEO Steve Ballmer, Seattle developer Matt Griffin, Costco CEO Jim Sinegal and wireless magnate John Stanton.References
External links
* [http://www.usatoday.com/money/industries/retail/2004-09-23-costco_x.htm 2004 Profile at "USA Today"]
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