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Post by
207044
This post was from a user who has deleted their account.
Post by
Squishalot
400bn in revenue =/= 400bn in profit. They wouldn't be making a massive margin on their retail goods - clothing might net you 100% margins, but household staples like bread and milk are much lower. From the margins, they need to pay wages to the stockists, cashiers, bean counters, not to mention having to pay for rental, electricity, security, insurance, advertising, transportation, website services, etc.. They'd also need to have a fairly sophisticated inventory management system, the IT infrastructure and staff to support it, and a raft of head-office expenses such as HR, marketing analysts, operational management staff, etc..
It all really adds up.
It was pointed out in the Wall St thread that real wages for people haven't changed over the last few decades. Overall, even if the minimum wage has stayed the same, the average wage has tracked with inflation over in the US.
Post by
pezz
Each urban store, less than a third the size of its traditional supercenters, will need about 95 workers. Since Walmart pays significantly higher than the minimum wage, this could be the shot in the arm urban areas need. It could also lessen chronic unemployment. Although Walmart has gotten itself ensnared in some nasty employment lawsuits, essentially it has functioned as sort of a retail version of the auto industry that created solid employment for those who otherwise wouldn't have had a shot at it.
Recently, Walmart introduced a new educational benefit for employees. Associates can earn a college degree at a discounted price, reports Kathleen Koster in EBN, "through a combination of academic credit awarded for Walmart job learning and experience, and online course work through APU "
(
Thank you Google search for that source
)
They pay above minimum wage to people who probably aren't super employable elsewhere, they offer some education-related benefits, and don't forget that because they benefit so heavily from economies of scale compared to the mom and pop stores they typically replace, they probably slightly lower the cost of living in places where they set up shop.
I did also find a reputable study that suggested that Walmarts tend not to change overall employment where they set up, one way or another, just in case that point is mentioned.
Post by
ElhonnaDS
I have a hard time, by the 5th or 6th thread along these lines in the last 2 weeks, not making snarky comments- I've deleted 2 paragraphs I started because they really weren't nice. And honestly, I understand why people are frustrated and scared in this economy, and why they want to lash out at people that seem to have everything they're scared of losing. I think I come across as harsh sometimes, because it's hard for me to remember that not everyone has had the same background, or information given to them, as I have, in terms of business, and the economy, and the conclusions that they're coming to, based on the information they have, are fairly logical.
That's why I think it's sooooo important for there to be mandatory financial education in this country. Screw Home Ec. People need to understand economics much better than they do, in order for this country to actually be able to make good economic policy.
It seems to me that most people see things in a bubble, probably intentionally so to some extent. They don't look at the big picture, how all of the elements of the economy interact, or what the effect one action has, as the results ripple out. People find a large number, and wave it around as a banner of excess, without regard to the definition of words like "revenue" vs. "profits". They don't want to hear anything about expenses, operating costs, company budgets- they'd rather just be mad at how large the number is.
The same thing happens with the threads about "Argh- how dare you make money." They just want to look at the numbers. They don't want to know anything about returns on investment being different than a salary, or where the money for their payroll comes from. They don't want to learn about what it takes to actually create jobs, or think about what will happen to them if suddenly the place that they work can't get the funding they need to get through the slow season, or develop the new product they need to stay afloat. They rage about people still getting paid whent he company loses money (even if it's not their money, since they hold no stock), but would be even more livid if someone they worked for told them that, even though they'd worked all of the hours they were supposed to, they didn't handle a customer correctly, and that customer withdrew their business, so they aren't going to pay the employee for a couple of months to make up for the loss. They are up in arms about a family losing a home they've lived in for generations, because they borrowed money against it and defaulted, but are all for a child not being able to inherit the home their family lived in for generations, if it's paid off, because it's a really nice house and they shouldn't be allowed to just have it.
Don't get me wrong, there are a lot of things that the government does to keep business afloat, especially the credit industry, which are really ridiculous. And they shouldn't. And if there's something to be angry about, be angry about them wasting tax money to help poor decision makers keep making poor decisions that hurt the economy. But people seem to have a double standard- they want to punish peolple for having more money than them, and want rules applied to those with more that, if they were applied to the average person, would be seen as hugely unfair. But I guess it's human nature to be more concerned with what's going to be good for you than what's fair. I just wish people understoond how some of these things that they're fighing for would ruin their own lives once the economic fallout hit. I almost want to see it happen- maybe people would understand then.
Post by
xlanadenx
Bull#$%^. I get paid $7.70. They won't even offer full-time. T.T
Post by
238331
This post was from a user who has deleted their account.
Post by
gamerunknown
Here's
the
dissenting
view.
Post by
Murrdurr
damn $7.70? My friends brother works as a stocker and makes $10/hr iirc. My wife used to be assistant manager there and she made pretty good money (450 bring home after taxes). Funny enough, my cousin used to date and almost married Sam Walton's (walmarts founder) great grandson. He unfortunately died before they could get married. I remember going to his house when I was young, place was gigantic.
Post by
ElhonnaDS
@Chaos
It's completely possible that they do. I know that we've tried to negotiate with them a couple of times, and the prices they need just won't make us any money, so it hasn't worked out thus far.
What I'm saying, though, is that legitimate complaints about government policy, specific instances of companies being shady, etc. tend to get lost in this stream of rhetoric about how "unfair" it is for people to make x amount of money, or be supported by numbers that look impressive but aren't really all that related to what they're talking about.
Gamer's second article is an excellent piece of evidence of something specific to get upset about. And I agree- they broke the law and were undermining the power of the unions, and that's BS. (I have no sound at work, and the other 2 links of yours are broken, Gamer, so I can't see the onther info). If you want to condemn a specific company, and provide a list of things they have done that were illegal, or shady, then I will listen and probably agree. If you want to argue against a specific law, and can tell me the specifics of why you disagree with it, I will listen and may or may not agree. But arguments of "Look at all that freaking money- F*** them" are not informative, focus on no legitimate issues, and look to attack the parts of the system that do work along with the parts that don't.
Post by
Atik
They pay above minimum wage to people who probably aren't super employable elsewhere, they offer some education-related benefits
As a wal-mart employee myself, I cannot back this fact enough.
They are actually a very good employer. Managemet is friendly and understanding. And my co-workers who could probably not get a different job? They are easily making nine dollars or more an hour.
Post by
gamerunknown
Sorry, they were ^&*!@#$ links to news articles that had long urls, I pulled them off my facebook (didn't know they could expire). If I recall correctly one was about Asda's price fixing deal with Sainsburys, the other may have just been about Walmarts acquisition of Netto.
Someone on facebook said that all large companies have shady practices, but there are two national ones here that I can't find any evidence of systemic wrong doing for: co-op and Waitrose. They also happen to be two of the more expensive places to shop, but there you go.
Post by
MyTie
Wal Mart is one of those
evil corporations
, so it can be understood that they are spending all of their money on whips to scourge their 3rd world nation child laborers. Needless to say, if anyone or anything is making money, it should be immediately questioned, and if possible, destroyed. They are certainly not making money because they have great customer services and more than reasonable prices on their goods. Such things are non sense.
Post by
pezz
Well Waitrose has a royal warrant, so of course they're awesome.
Post by
Adamsm
Of course, when a Wal-Mart opens it's doors in a smaller community, they end up employing most of the community and the money just goes right back to them heh; saw that happen here in my own town when the new Wal-Mart opened up. Also, up here in Ontario Canada, minimum wage is 10.25 for everyone province wide.
Post by
pezz
Yeah but you pay your people in monopoly money.
Post by
Heckler
It might be silly to get angry at Wal-Mart
solely
because of thier large profits; but surely it's also silly to
flatly refuse
to question them (or ridicule those that do) about the same subject. Wal-Mart's practices definitely leave a lot of questions to be answered about how healthy they are for the American (and global) economy.
There's a ton of even-handed information on
this PBS FRONTLINE documentary from 2004
(chapter 5 of the video is especially interesting). The information is slightly dated, but still pretty eye-opening, and there's tons of links in addition to the long documentary. Personally, like most topics, I think a lot of the attacks are based on a small kernel of truth but lacking in enough clarity to be meaningful. But an exploration of that small kernel shows that there are definitely legitimate questions and grievances against WalMart's practices.
Post by
Adamsm
Yeah but you pay your people in monopoly money.Lol.
Post by
ElhonnaDS
It would be interesting if there were as many people saying vehemently and with great passion "HEY! Lets look at both sides here and make sure we're all understanding each other." as there are who say "F*** you and everything you stand for, with, remotely near. There can be no truth at all to any argument you have, and therefore you must be a moron." It seems like the only people who get really passionate are the ones who take an all or nothing approach to issues.
Post by
gnomerdon
Wal Mart is one of those
evil corporations
, so it can be understood that they are spending all of their money on whips to scourge their 3rd world nation child laborers. Needless to say, if anyone or anything is making money, it should be immediately questioned, and if possible, destroyed. They are certainly not making money because they have great customer services and more than reasonable prices on their goods. Such things are non sense.
their evil?, but i go there everytime i need something.
they offer the most competitive prices. i tried buying a t-shirt at another store at 15 dollars. that was the lowest price. in wal mart, i can buy 5 t-shirts for 10.99. as a consumer l iving in a rough economy, i have no choice but to shop there.
i live in a small town, wal-mart came in, smashed every business, and is now open 24/7. i love the fact it's convenient for me, and the prices are good for me. i do most of my shopping there and i support it because of my economic standing. yes, i have taken 4 courses of economics in college, but that still doesn't change the fact that i'm low on cash and w/ill find any outlet to make ends meet.
Post by
MyTie
Wal Mart is one of those
evil corporations
, so it can be understood that they are spending all of their money on whips to scourge their 3rd world nation child laborers. Needless to say, if anyone or anything is making money, it should be immediately questioned, and if possible, destroyed. They are certainly not making money because they have great customer services and more than reasonable prices on their goods. Such things are non sense.
their evil?, but i go there everytime i need something.
they offer the most competitive prices. i tried buying a t-shirt at another store at 15 dollars. that was the lowest price. in wal mart, i can buy 5 t-shirts for 10.99. as a consumer l iving in a rough economy, i have no choice but to shop there.
i live in a small town, wal-mart came in, smashed every business, and is now open 24/7. i love the fact it's convenient for me, and the prices are good for me. i do most of my shopping there and i support it because of my economic standing. yes, i have taken 4 courses of economics in college, but that still doesn't change the fact that i'm low on cash and w/ill find any outlet to make ends meet.You either ignored my sarcasm to troll, or you are oblivious.
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