Jim's Comments BEFORE the interview:      You know I think this is the time to buy something retail, now that the Fed has slashed rates, and the market's bottomed... but which retailer?  Not a question...  you know which one I think is the best... I think you want to own Costco...  which has been my absolute favorite retail stock since we started the show... Literally, it's up 40% in a very tough market, since I recommended this, because it's got a brilliant CEO, Jim Sinegal... and something that's unusual - if not totally unheard of - among publicly-traded companies... a heart.  COST pays its workers a fair wage.  It gives them the best benefits of any publicly-traded company I know of... which the analysts on Wall Street find incomprehensible.  That's why, even though this stock has been one of the best performers in retail, during a very rough environment, I think the analysts are way too negative...  Four buys, 18 neutrals or holds, and one underperform, which is genuine Wall Street jibberish for "sell"...   In my analysts can't understand COST, because they only understand cost cutting!...   Jim Sinegal can get away with slashing his employees wages... the analysts think so...  so why doesn't he?  They don't get that better pay is less turnover, which is costly...  It means less shoplifting... it means less training... it means employees with better attitudes... it means you love to go there for heaven's sake!  There's actual hospitality!  I don't feel like it's a hospital when I go to it.  You can't measure that stuff with numbers, even though it's crucial for the success of any retailer.  There are 18 guys who cover this stock sitting on the sidelines?  I mean, come on...  This is in spite of the fact that, over the last six months - a period that's been most brutal for retailers - COST is up 8.7%.  The average retailer is down 5.5%, and I'm sure you know some that are down worse...

They say it's too expensive?  They obviously don't shop there!  Or they would know why the stock's worth more than any other retailer, because it's the best of breed!  This is a company that's been executing spectacularly in an environment where you'd expect most retailers to get executed!...

On March 5th, COST reported an in-line and, above all, consistent quarter, despite the harsh landscape.  In addition to being a great stock that has made us some money over the years, COST is one of the few retailers that's held up in this brutal environment.

I want to know how Costco does it, so it's my pleasure to welcome Jim Sinegal, COST's President and CEO, and one of the best in the business... and the best citizen capitalist in the world... to the show...