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.

Driving stock up from one day to the next is not what we are about. We are about building a good company and performing for the long term. I know everyone says that, that sounds trite when I repeat it that way, but that is and has always been our attitude about our business. If we do the right things, the stock price will take care of itself, and our shareholders will be rewarded.

I think that most of the people running companies today are motivated and pay is a small portion of the motivation.

It doesn't do Costco any good if nobody can afford to buy anything.

Paying your employees well is not only the right thing to do but it makes for good business.

Our attitude is that if you hire good people and pay them a fair wage, then good things will happen for the company.

When you hire good people, and you provide good jobs and good wages and a career, good things are going to happen.