Posted on 03/25/2014 8:48:26 AM PDT by upbeat5
Edited on 03/25/2014 9:10:08 AM PDT by Admin Moderator. [history]
Wal-Mart Stores WMT -0.15% filed its 10-K late on Friday after the market closed, and the world
(Excerpt) Read more at blogs.marketwatch.com ...
Is this a secret? All groceries etc rely on EBT.
it’s not a secret, but it is news when they sort of publicly step on it in an official statement.
But yes, EBT - the evil sinister way the government has officially co opted a huge sector of what used to be the private sector: the grocery/food business.
What the hell is a 10-K?
walmart == big government subsidized crony.
I've been saying this for a long time about Walmart, and taken some heat for it.
Yup....they make a buttload off the backs of tax paying Americans on the crap they sell to leeches.
I see them nearly EVERY DAY there. In their slippers and pajama pants buying junk food, sweets and other ‘staples’ on my dollar. Were it only the SNAP stuff, I’d be tempted to let it go, but with 20% of them in my county on it, coupled with WICs, TANF, UIC, Section 8 and EITC, it is just adding insult to injury.
I swear to the almighty, they actually show up in the store in their PJs and slippers (after 10 or 11 AM because any earlier upsets them). It is disgusting.
What WMT is doing is putting their investors (and the market) on notice that their management has ID’d this dependency on EBT receipts as a material threat to their bottom line.
Any change in the parameters of the EBT program now has the ability to change their profit guidance and results.
This is required by financial disclosure laws of a public corporation. WMT is basically following the law...
So what?
Is W-M supposed to tell the food stamp users that they don't want their business?
If the government will take care of these people, why should Wal-Mart pay them a wage they could live on?
Mandatory quarterly report by public companies, giving accounting details and business projections.
Do what I do: Don’t shop there.
When asked “why not?” I say “because I don’t wish to associate with the dregs of society.”
Its really almost a science how government can create crony-capitalists.
Form 10-K The federal securities laws require publicly traded companies to disclose information on an ongoing basis. For example, domestic issuers (other than small business issuers) must submit annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K for a number of specified events and must comply with a variety of other disclosure requirements.
The annual report on Form 10-K provides a comprehensive overview of the company's business and financial condition and includes audited financial statements. Although similarly named, the annual report on Form 10-K is distinct from the “annual report to shareholders,” which a company must send to its shareholders when it holds an annual meeting to elect directors.
Walmart is not responsible for their employees’ worth as an employable commodity. Thinking like that is what perpetuates this society that values sloth on the one hand, and then burns the discarded flesh aborted souls on the other.
For shame.
Do you get asked that a lot?
See it here too.
The report gives a slightly different impression, compared with the headline. The report is that WalMart depends on (the current volume of business) for its (current level of) profit. It isnlt that WalMart would not make a profit if it loses sales business, it’s that it’s profit will be reduced. I think that is literally profit too, and not “profit rate,” i.e., profit as a percentage of gross sales.
There were several classes of citizens in the late Roman Empire who made vast fortunes shipping/distributing the subsidized loaves and grains distributed to the urban underclasses to maintain urban peace.
Whatever is old is new again.
Breaking News! The poor shop where they get the best prices...Details at 11.
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