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.

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

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.

Obscene salaries send the wrong message through a company.

If you're going to say to all the people that you're working with, 'We want you to treat the customers honestly; don't lie and don't cheat,' it is somewhat hypocritical if you're not following the same rules.

If somehow a proclamation were made that C.E.O.'s could only make a maximum of $300,000 a year, you would not have any shortage of very qualified men and women seeking the jobs.

Paying good wages is not in opposition to good productivity.