Kate, which branch do you work for? Those "facts" are right out of the handbook for "community organizers"!
Conservative? Ha!
Seriously dude....I have done the research...this IS my business. The Walton’s make billions of dollars. I don’t begrudge their ability to make money. I do begrudge them making profit at the expense of state and local tax payers.
If your buddy’s wife has been making $20/hr for 20 years...does that mean she’s never been given a raise? Rhetorical question..don’t bother answering.
I’m stupified that conservative folks don’t understand that tax payers are the one’s ponying up $$$ to pay for foodstamps and medical benefits because businesses choose to pay their people low wages/schedule few weekly hours just so they are not obligated to pay benefits.
Now you might be fine w/ that business model...I’m not. I’ve seen what Walmart has done to small town after small town...come into a town, get special tax breaks, because they supposedly will generate more jobs.
And what really happens is that local businesses die away. These were the same folks who paid a decent wage and treated their employees well...and treated their customers well.
So yeah...capitalism. I wouldn’t want to live under any other system. But give me a break when you want to throw accusations at someone. I know this business and I know this company very, very well. And not because I have a buddy who works there.
Kate, which branch do you work for? Those "facts" are right out of the handbook for "community organizers"!
Conservative? Ha!
Let me explain a few things about REALITY.
Wherever Walmart goes SOME businesses might go out of business, but 3 times as many pop up. When a Walmart goes into a new area, they usually buy vacant property in a vacant area. Within a short period of time NUMEROUS businesses move into the surrounding area in hopes of catching some of Walmarts traffic. Businesses like Subway, Steak And Shake, Chilis, Starbucks, Panera, Dunkin Donuts, Panda Express, GNC, Sport Clips. Once these businesses move in, other businesses who might compete with Walmart move in. Like Staples, American Matress, Best Buy.
I'm speaking from experience from my own area 2 miles away. From where my family lives in Michigan and where friends live in Wisconsin and 2 places in northern Illinois.
What was once vacant farmland, in a few years after Walmart moves in becomes built up with businesses.
Granted, the Waltons make BILLIONS....
BUT the Waltons only own 48% of Walmart stock. 52% is owned by people outside of the Walton family. People like Walmart employees, who can purchase stock through the company, by payroll deductions, with no commission charges. Plus the company does a 15% match, up to $1800 a year. Currently Walmart stock is at $79 A SHARE. That means at usual brokerages, a person would need $7900 just to get started, plus brokerage fees.
Now lets look at the profits of the Waltons. Actually whether the Walton family or the cashier who buys stock, the PROFIT MARGIN is the same. Between 3%-3.5%.
Nothing stellar in the investment world. Where and why the Walton family makes so much is that the family owns HUGE amounts. Because Sam and James Walton INVESTED in their business FIFTY years ago. Their kids now benefit from what Sam and James did back then.
My buddy's wife didn't start out making $20 an hour. She started making a little above minimum wage. But over time she got regular raises, PLUS she proved herself to be a good employee, where she got transferred from one department to another to get things straightened out. She's been offered management numerous times, but refuses because of the commitment level required that she does not want.
But I guess in your little world, EVERYBODY should be making $20 bucks an hour, no matter their skill level, length of time working or work habits. For her, she's proven herself over time to be worth the money to the company. The only problem for her is that she has topped out in pay and no longer gets raises.
I am very aware that tax payers are the ones ponying up for foodstamps. I also understand that there is a larger picture than you or other liberal shills paint or acknowledge. Not every Walmart employee gets food stamps. MANY of those Walmart employees who get foodstamps are part time. Many have kids. Some are in their positions because of choices THEY have made. Their positions doesn't instantly make Walmart responsible to pay them more. Walmart is a business, in business to MAKE money. They have a rate of return of 3-3.5%.
You seem to have a problem with HOW Walmart and every other business does things, by hiring certain people part time to avoid benefits and to pay lower pay.
Well lets do some math.
Lets look at insurance. Lets say basic insurance costs $200 a month. At 12 months, that's $2400 a year per employee. That's $2.4 BILLION. A simple $1 an hour raise for only part time workers would mean $1 BILLION. That would only improve the employees net pay about $64 a month.
$64 is hardly enough to remove someone from foodstamps. The ONLY other way that these people can make more money at Walmart is to work more hours. Hours that aren't there. Whether full time or part time, there are only X amount of hours able to be worked. 1 person working 40 hours a week is the same amount of man hours as 2 people working 20 hours.
In business, often times certain positions don't require fulltime employment.
Here's a point you seem to miss. Lets say Walmart instantly decides to change all their positions to fulltime only. If half of Walmart employees are part time working 20 hours and are instantly fulltime, working 40 hours, THEN HALF of those part time employees will be laid off. 2 people working 20 hours = 1 person working 40 hours. That means 1/4th of Walmarts workforce are not just getting foodstamps, but also unemployment and welfare. You can't expect Walmart or any other business to just suddenly give people more hours to work without increased store traffic.
Just a little math for you. Taking Walmart's part time staff and making them full time, for no reason, would cost about $9 BILLION in payroll alone. Add insurance to that would be another $2.4 BILLION. Just those 2 things would cost Walmart $11.4 BILLION. Meaning current profit returns would be LESS THAN 1%.
Why would any employee invest in the company they work at for less than 1%? Why would ANYONE invest in a company for less than a 1% return? Why would any investor KEEP stock for less than 1% return?
You might not like the outcome facts have, but few liberals do. The problem is Walmart only makes about 3-3.5% profit. The ONLY way they can PAY more money is to MAKE more money.
How do you propose Walmart MAKE more money? Either they raise prices (and keeping sales), or they improve sales (keeping prices the same).
EVERY retailer tries to improve their sales numbers (usually by lowering prices). How do you propose Walmart improves sales volume and keep prices the same?
Unless of course you think Walmart should raise prices. Of course raising prices would negatively affect MORE PEOPLE who shop at Walmart than who work at Walmart. MOST of Walmarts customers are people at or below the median income.
You complain that Walmart doesn't pay its people enough, that some have to be on foodstamps. Funny thing is, Walmart is where the majority of foodstamp recipients shop. Maybe half of Walmart's sales are from foodstamp and welfare recipients.
Life isn't a simple fairytale where someone simply waves a magic wand and changes things. In ALL things in life for every action there is an equal and opposite reaction.
You raise a valid point. If the government didn’t provide all that assistance with my tax dollars, the workers probably wouldn’t be so willing to work at Walmart for those wages, and Walmart would probably have to raise their wages and prices.
But that still doesn’t make it Walmart’s problem . If Walmart raises wages and benefits, they will be less competitive, and will have to lay off workers. Those workers will be on full government assistance.