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Wednesday, July 26, 2006
Need some good news?
Chicago passed a living wage ordinance, forcing the biggest retailers to pay employees at least ten bucks an hour. Wal-Mart responded with a threat to pick up its marbles and play elsewhere. Two words: good and riddance.
2 comments:
Anonymous
said...
Wal-Mart's 2005 profit on 315.654 billion in sales: 11.231 billion.
...The New York Times reported last year that Wal-Mart makes nearly $20,000 profit every minute, while Costco and Target, two of its biggest competitors, make $7,795 profit each minute combined.... .... Wal-Mart’s business practices drive independent retailers out of business. The workers who once worked for these “mom-and-pop” stores often end up working part-time at Wal-Mart for lower wages.... As a result, even though Wal-Mart may move into a low-income neighborhood, the poverty rate rises after the new stores are built because the chain forces down wages for everyone... http://blog.aflcio.org/2006/06/15/study-wal-mart-can-afford-low-prices-higher-wages/
Wal-Mart: dragging US to the bottom one person at a time.
Walmart never could have succeeded the way it did if Reagan's Justice Department hadn't gutted the anti-trust laws in this country. A&P in the 50's and 60's started down a path similar to the one Walmart took, and got utterly hammered by Justice--destroyed. Reagan made monopoly okay again. Just another way America was ruined by that senile old fool.
2 comments:
Wal-Mart's 2005 profit on 315.654 billion in sales: 11.231 billion.
Wal-Mart's 2005 profit up 9.4% over 2004.
Wal-Mart's1995-2005 annual growth rate - 16.2%
http://money.cnn.com/magazines/fortune/fortune500/snapshots/1551.html
...The New York Times reported last year that Wal-Mart makes nearly $20,000 profit every minute, while Costco and Target, two of its biggest competitors, make $7,795 profit each minute combined....
.... Wal-Mart’s business practices drive independent retailers out of business. The workers who once worked for these “mom-and-pop” stores often end up working part-time at Wal-Mart for lower wages.... As a result, even though Wal-Mart may move into a low-income neighborhood, the poverty rate rises after the new stores are built because the chain forces down wages for everyone...
http://blog.aflcio.org/2006/06/15/study-wal-mart-can-afford-low-prices-higher-wages/
Wal-Mart: dragging US to the bottom one person at a time.
Walmart never could have succeeded the way it did if Reagan's Justice Department hadn't gutted the anti-trust laws in this country. A&P in the 50's and 60's started down a path similar to the one Walmart took, and got utterly hammered by Justice--destroyed. Reagan made monopoly okay again. Just another way America was ruined by that senile old fool.
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