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Old 02-16-2012, 10:03 AM   #155
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Originally Posted by RJay View Post
I found this article this morning. Walmart Wins with a Back-to-Basics Approach.
What do they win? They will make their suppliers cut the price, they will still make their profit, just squeeze the supply chain. And the Band Plays On.
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Old 02-16-2012, 11:01 AM   #156
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They win customers and sales of course. A lot of the opposition to Walmart is irrational. There are big chain and box store alternatives to every department in Walmart so it's not that Walmart doesn't have completion and that people don't have an alternative. In fact, as some members have mention, the prices for some items are higher at Walmart. What Walmart does offer, that no other store does, is one-stop-shopping and at prices that virtually all can afford.

Arguments, such as, Walmart killed the mon an pop stores, squeeze suppliers, abuse their employees, ruin neighborhoods, being a cooperate bully, etc. are a smoke screen by a segment of the population with an agenda. I suspect that a lot of this bluster would soon disappear if Walmart was to go union.

The only bad shopping experience I've had a Walmart is it gets too crowded.
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Old 02-16-2012, 12:22 PM   #157
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Theodore Roosevelt was morally offended by the fact that Standard
Oil created “enormous fortunes” for
its owners “at the expense of business
rivals.” How a business can offer consumers lower prices without taking
customers away from businesses that
charge higher prices is a mystery still
unsolved to the present day, when the
very same arguments are used against
Wal-Mart.



Part of an article I was reading in the morning paper. Seems like the subject of pricing and loss of business has been around for quite some time.
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Old 02-16-2012, 02:03 PM   #158
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[QUOTE=dieselclacker;1085722]Theodore Roosevelt was morally offended by the fact that Standard
Oil created “enormous fortunes” for
its owners “at the expense of business
rivals.” How a business can offer consumers lower prices without taking
customers away from businesses that
charge higher prices is a mystery still
unsolved to the present day, when the
very same arguments are used against
Wal-Mart.

No, sorry, they are NOT the same. Standard oil still used union labor and paid fair market value for their labor force. They forced competition out by being larger and more efficient. Wal mart pays nothing for their labor offering below market wages for workers whos only commodity is their labor. Then those same laborors have to use county facilities when they get sick because Walmart wont pay for healthcare that and that shifts the burdon of health care costs to the taxpayers instead of the employer. In my opinion that cheats you out of your money and saves him money. What happens to those same laborors when they retire? Since they are underpaid to start with they can save little for retirement. Who then pays their bills? You guessed it again. The tax payer. Now with Republicans saying they don't want to fund Social security... Who will pay for all those retirees that have no income?!? Get Real folks. There is no free ride even when you are talking low prices at Walmart.

Look at Unionism in the US and look at average middle class income. From 1920 to 1970 middle class income grew at the exact same rate as uninonism did. Enter trickle down economics. Unionism dropped and so did middle class income. Trickle down economics just flowed directly down to the rich 1% pockets not the middle class. We now have a situation like the 1920s where unionism is under attack and laber must work for lower wages. The media just says its teachers and firefighter and auto workers who are at fault. Then look at B of A or Chase.They and their cronies get rich selling sub prime mortgages and they get a taxpayer bailout. What did you get in return? The bad economy was brought on by bankers who got a bailout. You lost your job because slow sales cause a company cutback and that same bank that got the bailout takes your house from lack of payment. Who really paid here?!? Put on your glasses and take a look around. Just because you have a pension income to retire on doesn't mean Wal mart workers do or even your own children who went to school and mortgaged their future to the banks in the hopes of finding a good job. Wal mart and the economic hawks like them sold us all out for a nickle on a box of cerial for their own profettering. Then, our own government says he pays 14% taxes on his income while you pay 30%.

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Old 02-16-2012, 02:13 PM   #159
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My concerns, with Wal Mart, is their health care system for employees. Below is a quote from their 3rd Quarter results (their fiscal year ends Jan 31st-- 3rd Qtr results are BEFORE Black Friday and Christmas, that will be in the 4th Qtr results released on 2/21/12).

"Returns and free cash flow
"Walmart remains committed to delivering strong returns to our shareholders," said Charles Holley, Wal-Mart Stores, Inc. executive vice president and chief financial officer. "During the third quarter, we returned $2.7 billion to our shareholders through dividends and share repurchases, bringing our total year-to-date return to $8.8 billion." "

They returned 2.7 billion, that Quarter alone, to shareholders. BILLION!!! There is absolutely no reason that Wal Mart can not supply every single employee with health benefits.

Now read this article. This took place THE SAME QUARTER as the profits listed above: http://www.nytimes.com/2011/10/21/bu...pagewanted=all

They (Wal Mart) stated, in the above article, that they were- again- cutting health care, to their workers, and raising premiums "due to rising costs". Yet, for the same quarter their financial results said:

"Net sales for the third quarter were $109.5 billion, an increase of 8.2 percent from last year."
(quote above taken from here: Walmartstores.com: Investor Relations - Walmart announces FY12 Q3 EPS from continuing operations of $0.97; Walmart U.S. and Sam's Club comp sales exceed guidance=)

So how can you have an increased profit margin and still have to cut health care for your employees because of cost?

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Old 02-16-2012, 02:27 PM   #160
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My concerns, with Wal Mart, is their health care system for employees. Below is a quote from their 3rd Quarter results (their fiscal year ends Jan 31st-- 3rd Qtr results are BEFORE Black Friday and Christmas, that will be in the 4th Qtr results released on 2/21/12).

"Returns and free cash flow
"Walmart remains committed to delivering strong returns to our shareholders," said Charles Holley, Wal-Mart Stores, Inc. executive vice president and chief financial officer. "During the third quarter, we returned $2.7 billion to our shareholders through dividends and share repurchases, bringing our total year-to-date return to $8.8 billion." "

They returned 2.7 billion, that Quarter alone, to shareholders. BILLION!!! There is absolutely no reason that Wal Mart can not supply every single employee with health benefits.

Now read this article. This took place THE SAME QUARTER as the profits listed above: http://www.nytimes.com/2011/10/21/bu...pagewanted=all

They (Wal Mart) stated, in the above article, that they were- again- cutting health care, to their workers, and raising premiums "due to rising costs". Yet, for the same quarter their financial results said:

"Net sales for the third quarter were $109.5 billion, an increase of 8.2 percent from last year."
(quote above taken from here: Walmartstores.com: Investor Relations - Walmart announces FY12 Q3 EPS from continuing operations of $0.97; Walmart U.S. and Sam's Club comp sales exceed guidance=)

So how can you have an i,ncreased profit margin and still have to cut health care for your employees because of cost?

Sheila
You certainly bring up some interesting points, anyone have the answer?
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Old 02-16-2012, 03:02 PM   #161
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So how can you have an increased profit margin and still have to cut health care for your employees because of cost?
Because returning maximum dividends to investors, and increasing the bottom line is what WalMart (and any business for that matter) is in business to do. Reality can be harsh, I know. WalMart does not exist to provide Americans with jobs and health care. They exist for one reason only: to extract every penny of profit they can from their customers, and give it to their stockholders. No matter whether you think this is good or not, it is reality.

That is why manufacturing is moving to other countries, because it is more profitable for them to do so. For profit businesses, like WalMart, are 100% predictible. They will examine and re-examine every aspect of their business from a profitability point of view and do whatever they have to do to maximize gains. If that means closing a store in Frog Level, NC and opening a 10th one in Atlanta, that is what they will do. If it means closing a textile plant in Radford, VA, and moving manufacturing to the Dominican Republic, so be it.

Its ugly, and it's harsh, but that's what businesses in a free market, capitalist economy do. They do it with monotonous predictibility. The only thing that surprises me is the surprise that others seem to exhibit on this topic.

To answer the OP's question: No, WalMart is not killing America. American's growing sense of entitlement is killing America. American's apathy at the polling place is killing America. American's inability to use the greatest resource ever known, the internet, to do honest research to find the truth, and instead depending upon talking heads on [insert your favorite cable news channel] to tell them what they should think is killing America. American's willingness to become divided against each other for the profit of the talk-show icons is killing America. No, WalMart is the least of America's problems.
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Old 02-16-2012, 03:49 PM   #162
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So how can you have an i,ncreased profit margin and still have to cut health care for your employees because of cost?

Sheila

Why do you thing Walmart, or any other for profit company is obligated to provide health insurance for thier employees?

Ramblin said it much better than I can in his post above.

Its called capitalism.
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Old 02-16-2012, 03:50 PM   #163
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Because returning maximum dividends to investors, and increasing the bottom line is what WalMart
Yessireee, While the boys at the top pat themselves on the back and puff their cigars while looking over their bonus checks, lets keep screwing the people who helped us earn it!
No sense of loyalty to those working for them, just be glad you have a job mentality!
Isn't just WalMart either...
Quote:
American's growing sense of entitlement is killing America. American's apathy at the polling place is killing America. American's inability to use the greatest resource ever known, the internet, to do honest research to find the truth, and instead depending upon talking heads on [insert your favorite cable news channel] to tell them what they should think is killing America
Hey about this,,,, maybe just maybe if you lost your house due to the great mortgage scam,,, you may just get $2000.00 back
Yep,,, lets applaud the Good ole boys club!

True,, very true and sad.
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Old 02-16-2012, 03:58 PM   #164
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AT&T is doing the same thing, record profits and cutting benefits for employees and retirees. WalMart (non union) gets bashed and AT&T (union) doesn't?
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Old 02-16-2012, 05:32 PM   #165
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The "All New AT&T"..... I came from the original.... WESTERN EECTRIC and it wasn't that way in the old days! The company that took over for AGERE figured out how to screw the old rerirees out of their health benefits and they did it.
But that's the name of the game today.
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Old 02-16-2012, 06:11 PM   #166
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I just ran a search on employee stock options for walmart and following is what I found on the internet.
Safe Travels
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This website:
Walmartstores.com: Benefits
When you become a Walmart associate, you can take advantage of a variety of great benefits for you and your family, including:
Health & Wellness Benefits
  • Consumer-directed health plans including Health Reimbursement Accounts (HRA) plans and a High-deductible plan with an Health Savings Account (HSA). Plans include:
    • No lifetime maximum
    • 100% coverage for eligible preventive care when you use a network provider
    • Coverage for dependents up to age 26
    • No pre-existing condition limits for anyone under age 19
    • 80% coverage for eligible network services after you meet your total annual deductible
    • $4 co-pay on more than 2,000 eligible generic drugs
    • Ask Mayo Clinic Nurse Line - speak to a registered nurse 24/7
    • Life with Baby Maternity Program - your own personal support network before, during and after pregnancy
    • Quit Tobacco program
  • Dental Insurance
  • Resources For Living® -- confidential counseling and health information service free to all associates 24/7
  • Company-paid life insurance
  • Optional and dependent life insurance
  • Accidental death & dismemberment insurance (AD&D)
  • Critical illness and accident insurance
  • Short- and long-term disability insurance
  • Business Travel Accident Insurance
  • Illness protection (sick time)
  • Associate Eyewear Program
Financial Benefits
  • Matching contributions to your 401(k) up to 6%
  • Associate Stock Purchase Plan with a company match of 15% up to the first $1,800 purchased each Plan year
  • Associate Discount Card for Walmart associates, spouses and dependents for 10% discount on regular priced general merchandise and fresh produce purchased at a Walmart store.
  • Sam’s Club memberships for Sam’s Club associates
  • Discounts travel, entertainment and more
  • Retirement account rollover
  • Military differential pay
  • Paid time-off including: holidays, vacation, personal, bereavement and jury duty
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Old 02-16-2012, 06:50 PM   #167
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As far as benefits go, Walmart is no exception in the world of RETAIL. Most department stores have always maintained "part time" employees to keep from paying benefits, and this has been standard practice forever. No need to vilify Walmart for doing what all other retail stores do.
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Old 02-16-2012, 06:53 PM   #168
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Thank you Ramblin, well done. I am still trying to figure out when it became an employers OBLIGATION to provide health or any other benefit to it's employee's. Years ago employers offered benefits as a incentive to attract employee's. A company that provided health insurance was more likely to attract good talent than one that didn't. Subsequently unions demanded them under threat of company killing strikes. Now, even the government is forcing companies to provide health benefits or face fines and even go so far as specifing what level of benefits. The constitutionality of these demands is still to be determined.

It would appear that some folks believe a business exists to provide jobs and that employee's have a RIGHT to certain benefits. A business is there to provide the business owners which could be an individual, family or stockholders income. That is it, period. If additional jobs are created as a result, then fine. If that business decides to provide benefits to those employee's other than a salary, great.

Walmart provides thousands of direct jobs and many more thousands of jobs for their suppliers, construction workers, transportation. You will hardly ever see a Walmart store all by itself. Every one is surrounded by smaller stores / strip malls many of which compete with them. Where I live we have a major Walmart super center. We also have other grocery stores, small family owned hardware stores, every drug store known to man including a mom & pop. All doing quite well.
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