Posted on 10/25/2005 2:29:37 PM PDT by Crackingham
Wal-Mart CEO Lee Scott said he's urging Congress to consider raising the minimum wage so that Wal-Mart customers don't have to struggle paycheck to paycheck. Scott told Wal-Mart directors and executives in a speech Monday that he believes "it is time for Congress to take a look at the minimum wage and other legislation that can help working families."
"The U.S. minimum wage of $5.15 an hour has not been raised in nearly a decade and we believe it is out of date with the times," Scott said. "We can see first-hand at Wal-Mart how many of our customers are struggling to get by. Our customers simply don't have the money to buy basic necessities between pay checks."
Given increasing gas prices and other economic pressures on Wal-Mart customers, Scott went on to say that Wal-Mart shoppers will further be challenged to "support themselves and their families."
"While it is unusual for us to take a public position on a public policy issue of this kind, we simply believe it is time for Congress to take a responsible look at the minimum wage and other legislation that may help working families," he said.
Tracy Sefl, a spokeswoman for Wal-Mart Watch, a group that's been highly critical of the retailer, said Scott's comments on raising minimum wage were "laughable and out of left field."
"I find it disingenuous and laughable that Lee Scott makes these remarks while the company hires lobbyist such as Lee Culpepper who oppose raising the minimum wage," Sefl said.
"We would be the first to applaud real change. But when a comment on raising minimum wage is dashed off and it flies in the face of Wal-Mart's own corporate stance, that's laughable," she added.
(Excerpt) Read more at money.cnn.com ...
Well, let us go further and require that places like WalMart provide free medical insurance and the prevailing area's average union wages to all of it employees. Would WalMart agree?
All WalMart wants is more money to be in the hands of its customers, so they can spend more more in WalMart stores. As far as any discussions about treating their own WalMart employees better, well, that is out of bounds.
I can no longer have sympathy for Wal-Mart if they conspire to hurt the poorest of the poor like this.
Raising the minimum wage hurts the poorest of the poor as it prices the lowest wage earners out of the market, especially poor black teenagers.
For some graphs:
http://www.neoperspectives.com/minimumwage.htm
Hey, that reminds me, I'm running low on useless chinese crap, gotta make sure to stop by Wal-Mart on the way home. We just got a brand-new Wal-Mart Supercenter: it has about 60% more useless chinese crap than the old Wal-Mart they tore down.
You're funny!!!!
I don't buy useless crap when I shop, regardless of where I shop. I like having money for enjoyable things and so if I don't have a need for something - I just don't buy it.
"What's this?"
"It's useless crap, dear."
"Do we need it?"
"No dear, we don't need it"
"Throw it in the cart"
"Wait, is it useless Chinese crap?"
"Uh, yeah."
"Get another one."
Could you point me to the WM aisle of useless chinese crap?
I have no problem with that as long as Wal-Mart will ante up on the supply side for their suppliers whose costs will soar.
I completely agree. I thought "just raise your own wages, it's not illegal!"
Walmart can be good citizens and lead the way... just like Henry Ford did in the early 20th century.
And pay their employees better.
Alot of Wal-Mart suppliers are foreign (i.e. Chinese) and are not subjected to minimum wage regulations. Win, win for Wallyworld.
Even better are those tags on "designer" t-shirts that say $69.99 Sale Price $29.99 SAVE 57%. Women go absolutely bonkers over this scheme. Even when I tell them everything in the store is "on sale" and that $30 is still too damn much for a t-shirt they still don't get it.
Hey, thanks for explaining economics so lucidly. You have obviously given this a lot of thought. Could you help me out with one more thing that has been troubling me, I would like your help in understanding this. Why is the earth flat?
Seriously, please read up on the Bell-shaped curve and how it affects economics, in this case the minumum wage. You remember this from school, right? You can alter this curve but you never get the results you expect, even with the best will in the world. All you do when you raise the minimum wage is chop off the first rung in the ladder of success, making it harder or impossible for those without family or connections or education to get their first job and start working on their resume. Why do you think making it hard for people to get their first job is good public policy?
They are the exact same suppliers as all other retail chains - and the true sin is that the majority of them USED to be US manufacturers.
And this stuff is any better?
Personal Photobooth from Neiman-Marcus: $20,000.00
Manolo Blahnik Alligator Slide from Neiman-Marcus: $1,150.00
"NASCAR Pinball" from The Sharper Image: $4995.00
Walmart doesn't have a exclusive market for "useless crap" it's just that theirs is cheaper than elsewhere.
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