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The average person doesn’t have a ton of reasons to care about reshuffling in the C-suites of massive corporations, but if you’re a Costco diehard, it was a bit hard not to be concerned about the potential ramifications of the company’s CFO stepping down based on what he had to say about a potential change to the price of its beloved hot dog combo in the wake of his departure.
Thankfully, it sounds like the man who’s replaced him has no plans to tinker with the natural order of the universe.
It’s been 40 years since the manager of a Costco warehouse in Portland, Oregon gave a vendor permission to sling hot dogs from a cart that charged $1.5o for a hot dog and a can of soda.
He declined to consult with the corporate office prior to giving the tubed meat peddler the greenlight, but the chain’s cofounder was such a big fan of the idea when he discovered the operation that he decided to start rolling it out at locations across the country.
Since then, Costco shoppers have been able to cap off their warehouse experience by visiting the oasis that is the food court to pick up a hot dog and a fountain drink that will still only set you back $1.50—a price that has remained unchanged thanks in no small part to former CEO Jim Sinegal, who threatened to kill someone who suggested hiking it in 2008.
Earlier this year, longtime Costco CFO Richard Galanti stepped down from the role he’d occupied since 1985 and caused a minor stir when he said the $1.50 price tag is “probably safe for a while,” which left the door open for a change once Gary Millerchip succeeded him.
According to CNN, Millerchip went out of his way to assuage those fears during an earnings call on Thursday where he pledged the status quo will remain unchanged under his watch, saying, “To clear up some recent media speculation, I also want to confirm the $1.50 hot dog price is safe.”
At the risk of coming off as hyperbolic, raising the price of the hot dog combo at Costco would probably be a Canary In The Coal Mine Moment for the American economy with the potential to usher in widespread societal strife, so it’s good to know we don’t have to worry about that happening.