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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 captainawesome View Post
    HEB, Whole Foods, and Costco are all growing rapidly and making high return.
    Growth doesn't necessarily translate into profits - it usually translates into equity/capital.

    Businesses usually reinvest in their business.

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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 CanadaJohn View Post
    I've been thinking about minimum wage a lot lately and I believe there are many small business, large businesses too, who rely on teenagers and college students working in the summers and seniors supplementing their retirement incomes or just keeping active. As a result, a minimum wage that is two high could curtail access to such jobs to these two segments of the employment pool.

    What would be the harm in having a differentiated minimum wage? Either one that separates full time employment from part-time pastimes, or one that considers a lesser wage for younger people with little or no experience and seniors without a need for career building or primary income?
    The only problem I can see is how full time would be defined. Conventional thinking puts that at 40 hrs. a week, and I think you'd see a rash of people getting hired for 39 hours and 59 minutes per week to get in under the line.

    Other than that, I think it's a great idea to have different levels along those lines.


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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
    Growth doesn't necessarily translate into profits - it usually translates into equity/capital.

    Businesses usually reinvest in their business.
    Costco, HEB and Whole Foods are very profitable.

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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
    Costco, HEB and Whole Foods are very profitable.
    And the majority of those profits go back into the business hence "growth."

    If owners/investors kept profits - the business would never grow...

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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 Captain Adverse View Post
    Hmm, $8.50 per hour for a 40 hour week? That’s $340 a week, or $1360 gross a month. I can live with that right?

    After all deductions (between - ⅓ of gross for various taxes, Social Security, etc.) of about $400.00, that leaves me with $960.00.

    Lets see, average rent for a 1 bedroom in D.C. is $1617.00 a month.
    Average Rent In Washington, Washington Rent Trends and Rental Comps

    Definitely can’t afford that, so let’s say I can find a “C-level” apartment for $600.00 available somewhere in surrounding Maryland and Virginia. (Class C properties were built within the last 30 to 40 years. They generally have blue-collar and low- to moderate-income tenants, and the rents are below market.) Apartment - Wikipedia, the free encyclopedia

    That leaves me with $360.00 for all other expenses. Hmmm. Electricity and gas…$45 - $65 depending on time of year (cold weather/hot weather), so we’ll average that to $50.00.

    Now I’m at $310.00. but according to this I’d need $348.92 a month if I bought and prepared all my own food and maintained a healthy diet! Food Prices in Washington, DC, United States

    Shoot! Hmmm, maybe I overestimated my tax burden…if I cheat a little on my W-2 I can maybe bring it down to only $300 in deductions…pay it back at the end of the year with savings. Yeah, so I get $100 more, and $51.00 in disposable income.

    I still need to get to and from work. The Metro train fares range from $1.70 to $5.75 and bus fares start at $1.60 one way if I get a “SmarTrip card. Gee, that means even if I live close I’d need $3.20 a day round trip for work. At 5 days a week…that’s $64.00! Metro - Fares - Metrobus (follow link to rail fares also).

    I guess I can try walking several hours, put in some gas money for a ride, or buy a bike…hope I don’t need to shave or buy clothes, or anything.

    EXCEPT…Full-time Wal-Mart employees work 28 -40 hours, 1/3 of all employees are part-time, working under 28 hours, and they are beginning to replace full-timers with “temps” in another effort to eliminate benefit requirements. PBS - STORE WARS: Wal-Mart Business Practices and Exclusive - Wal-Mart's everyday hiring strategy: Add more temps | Reuters

    I can only HOPE I get to be one of the “full-timers” getting 40 hours a week.
    You make the point well. Wal-Mart is great for part time jobs. Students can always use a part-time job. That's fine.

    There is, as you point out, no way a person could live on what they'd be paid at Wal-Mart. The two sides are talking past each other about two different things.


    Quote Originally Posted by Jetboogieman View Post
    This issue has been plowed more times than Paris Hilton.
    Quote Originally Posted by Oborosen View Post
    Too bad we have to observe human rights.

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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
    And the majority of those profits go back into the business hence "growth."

    If owners/investors kept profits - the business would never grow...
    Not true all three pay investors. HEB is still private. The Butt family is worth billions.

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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 rocket88 View Post
    The only problem I can see is how full time would be defined. Conventional thinking puts that at 40 hrs. a week, and I think you'd see a rash of people getting hired for 39 hours and 59 minutes per week to get in under the line.

    Other than that, I think it's a great idea to have different levels along those lines.
    You make a good point - not to complicate it too much, but perhaps the differentiated rates could be differentiated even further, say anything under 30 hours is x - 31 to 39 is x + z and then the traditional 40 hours plus is paid at the highest rate.

    It's complicated.
    "Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views." William F. Buckley Jr.

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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
    "Average rent" can be deceiving.

    Here in Chicago rent can be anywhere between $20,000 a month to $300.00 a month with the majority of places being 400-1,200 a month...

    Those ridiculously expensive places raise the average quite a bit.
    Perhaps, but as you can see, I based my requirements on a $600.00 apartment. I avoided the more expensive average.
    If I stop responding it doesn't mean I've conceded the point or agree with you. It only means I've made my point and I don't mind you having the last word. Please wait a few minutes before "quoting" me. I often correct errors for a minute or two after I post before the final product is ready.

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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 rocket88 View Post
    You make the point well. Wal-Mart is great for part time jobs. Students can always use a part-time job. That's fine.

    There is, as you point out, no way a person could live on what they'd be paid at Wal-Mart. The two sides are talking past each other about two different things.
    I lived on my own, by myself off $10.00/hr. My rent was $750.00 to boot and I still had money for food, phone, internet, utilities etc... It wasn't very comfortable but I managed it.

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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 Captain Adverse View Post
    Perhaps, but as you can see, I based my requirements on a $600.00 apartment. I avoided the more expensive average.
    Well, I managed to live on my own off 10 bucks an hour....

    I did work 8 hours of OT every week at time x2 ($15.00/hr) so that helped.

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