How Wal-Mart Sees the World
Welcome to the world as Wal-Mart see’s it. A vast market of cheap labor to undercut American manufacturing jobs. By purchasing cheap overseas goods and paying low wages to their employees, Wal-Mart is able to “Roll Back Prices.”Wal-Mart is the 2nd largest publicly traded company worldwide, they had been the largest before being surpassed by ExxonMobil (Or Standard Oil as we like to call it). Wal-Mart has shown immense growth the past decade, with Super Wal-Marts and Neighborhood Wal-Mart stores kicking many mom and pop shops to the curb. In fact, Wal-Mart has doubled it’s sales in just 6 years! In 2000, Wal-Mart’s net sales were $156 billion. For their 2006 tax year, net sales surpassed $312 billion. Wow, we say we add a new slogan here, “Rolling back Mom and Pop.”
Wal-Mart’s net income in 2006 was $11.2 billion, not too shabby. Yet their stock prices have fallen from $61 per share in 2005 to $48 per share currently. My guess is that the average shareholders are not the ones taking the hit on that one.
Wal-Mart has been heavily criticized for “Rolling Back Employee Benefits.” The CEO of Wal-Mart, Lee Scott, said benefits could improve because Wal-Mart employees can receive better coverage from taxpayer funded health care than from Wal-Mart’s own health plans. He stated “In some of our states, the public program may actually be a better value - with relatively high income limits to qualify, and low premiums.” Hey, why not, Wal-Mart has given us all these low prices, the least we can do is pay their employees health care! Afterall the company is poor in comparison to the big oil boys.
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POSTED IN: Health Care, Wal-Mart
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