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Thread: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by Wiseone View Post
    This is just stupid:



    So people who work in big stores require 12.50 an hour to have a living wage, but people who work elsewhere only require 8.50? Despite living in the same town? With similar if not the same cost of living? How does that make sense?
    It doesn't. Minimum wage is for kids who are still in school, and living at home. The idea is to move up in the world, not stay stagnant in the same job, demanding more pay for less work. A monkey could to a walmart employee's job, and probably outperform them on many levels.
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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes


    Don't know if anyone else has noted this, but...

    “While the bill would apply to some other retailers — such as Home Depot, Costco and Macy’s — a grandfather period and an exception for those with unionized workforces made it clear that the bill targets Wal-Mart, which has said it would open six stores, employing up to 1,800 people.”

    Wal-Mart says it will pull out of D.C. plans should city mandate ‘living wage’ - The Washington Post

    It would appear this “living wage” was simply an attempt by the local D.C. government to target the politically incorrect WalMart…alone.

    WalMart should simply leave D.C. altogether until those idiots can figure out how a successful economy works.
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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by captainawesome View Post
    1% was the growth not the return. Walmart is still a buy.
    You're right but even this isn't good enough.... One would be better off sticking their money in a bank to collect interest.

    The global discount shopping behemoth came close to matching analysts' estimates with earnings per share of $1.14, a 4.6% increase over last year's first quarter.

    A consensus estimate by Thomson Reuters predicted EPS of $1.15 per share.

    Wal-Mart fell $1.36 to close at $78.50.

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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by captainawesome View Post
    Sure it is.


    Exploitation can happen even with choice.
    No that kind of " exploitation" just exist to pad your agenda.

    No, people have a choice of whether or not they want to shop there and they have a choice of whether or not to work there.

    Wall-Mart offers people jobs and in Obama's economy thats not something to shake a stick at.

    People apply there because they've made choices that limit their ability to find employment in other companies and/or fields.

    Its a concept most Libs don't understand, that we're the sum total of our choices good or bad.

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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by The Baron View Post

    Don't know if anyone else has noted this, but...

    “While the bill would apply to some other retailers — such as Home Depot, Costco and Macy’s — a grandfather period and an exception for those with unionized workforces made it clear that the bill targets Wal-Mart, which has said it would open six stores, employing up to 1,800 people.”

    Wal-Mart says it will pull out of D.C. plans should city mandate ‘living wage’ - The Washington Post

    It would appear this “living wage” was simply an attempt by the local D.C. government to target the politically incorrect WalMart…alone.

    WalMart should simply leave D.C. altogether until those idiots can figure out how a successful economy works.
    Yes Walmart should leave until they become an ethical business that follows community standards.

    Costco pays well and provides good insurance. They are very profitable. So the community does understood how a good economy works. Get rid of those who cheat and exploit.

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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by Mr.Nick View Post
    You're right but even this isn't good enough.... One would be better off
    sticking their money in a bank to collect interest.
    Thanks to Bernakes endless QE, Banks don't pay interest

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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by Mr.Nick View Post
    You're right but even this isn't good enough.... One would be better off sticking their money in a bank to collect interest.
    Walmart returns over 5% On average. That is a great return. Far more than Bond rates or a savings account. What are cd paying now? less than 2%.

  8. #168
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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by captainawesome View Post
    The opposite will happen. people will make more spend more and thus create prosperity.
    I know you what to believe but that opinion isn't reality. Employers won't hire the same number of higher minimum wage employees as they would if the minimum wage was at a lower rate. Remember, minimum wage employees have few skills, because that's what the job requires. So why would an employer hire the same number of employees at a higher rate of pay to perform the same menial tasks? They wouldn't. How would it benefit the business? It wouldn't.

    Higher rate wages for minimum wage employees would cause the price of goods or services to go up. Some of those services or products would no longer be required as more people would then have to be more selective how they spent their disposable income. When that happens fewer goods and services will be purchased, fewer people will be hired, and some businesses will fold.

    Whether measured by the poverty rate or by the earnings of low-income families, the minimum wage does not help the poor.

    Higher Minimum Wages Cost jobs and Working Hours

    A major reason why the minimum wage is such an ineffective anti-poverty tool is that minimum-wage hikes cause businesses to reduce the number of workers they hire and the hours they ask their employees to work. According to Neumark et al., for example:

    Workers who initially earn near the minimum wage experience wage gains. But their hours and employment decline, and the combined effect of these changes on earned income suggests net adverse consequences for low-wage workers.[4]

    Most estimates suggest that each 10 percent increase in the minimum wage reduces employment in affected groups of workers by roughly 2 percent.[5] Thus, raising the minimum wage to $7.25 an hour would cost at least 8 percent of affected workers their jobs. A higher minimum wage helps only those workers who actually wind up earning that wage and further disadvantages lower-income workers, who suffer fewer job opportunities and working hours. Though intended to help low-income families get ahead, the minimum wage instead costs some their jobs and others hours at work. This leaves poor families actually worse off.
    Raising the Minimum Wage Will Not Reduce Poverty

    This news was followed by a predictable response from advocacy groups like the National Employment Law Project which suggested that an increase in the minimum wage could help lift Americans out of poverty. And not only that; in a CNN.com op-ed, a policy analyst with the group said that an increase in the minimum wage could boost the economy and create 160,000 jobs.

    These claims may pass muster as applause lines at a political rally, but they can't pass the test of rigorous empirical research.
    Raising minimum wage won't lower poverty - CNN.com
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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by captainawesome View Post
    1% was the growth not the return. Walmart is still a buy.
    If it's so great and such a "steal" then why are people hating on walmart instead of investing in the company???

    Why don't these "poor people" invest? if walmart is excessively profiting off of exploitation then why not jump on the bandwagon and get rich with them? surely in a matter of years one could be a millionaire the way people speak of walmart and their "excessive profits"...

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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by Deuce View Post
    That's not really how it works, no. I have to pay my hourly employees even when they aren't selling anything.


    No. That is exactly how it works. Geeze. Unbelievable.

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