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

captainawesome said:
Sure it does, but Walmart posted a 6% increase in revenue in 2012 and they maintain a healthy margin and profit. They got 5% to stockholders after taxes.

So they are doing just fine.
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Wal-Mart 1Q profits, revenue disappoint

Not according to this article.

So basically shareholders should get screwed over so some idiot can jock a register for 12.50 an hour?
 
The Baron said:


Destroying jobs and the economy is exactly what the liberal / socialist agenda is doing. This Wall-Mart incident is simply proof of that.
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All hail the Sacred Job Creators. Do no harm to them.

By the way, just because Walmart says they'd stop opening stores in that area doesn't mean they'd actually do it. The vast majority of Walmart's expenditures are inventory, not wages. Raising the minimum wage wouldn't require a substantial price increase like many claim.

And if you're so concerned about socialists, why are you ok with taxpayers subsidizing Walmart's profits via that horrid socialism you hate so much like welfare and food stamps?
 
specklebang said:
Walmart is an employer of last resort and deserves a pass on this. They hire people that aren't worth $12.50 an hour anywhere and they give them a way to contribute. I'm a strong believer in a minimum wage but to insist on a "living wage" is not a logical strategy.
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Greeters are an inefficient use of resources. In essence, it is taxable charity.
 
captainawesome said:
That article showed walmaet made out like bandits. They only had an increase of 1% lol that is good news they made even more.
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So basically what you're implying is that growth of any kind is bad??? or are you trying to say that if a company grows employees should get more?

What happens when a company takes a loss - should the employees get less?
 
Kushinator said:
Greeters are an inefficient use of resources. In essence, it is taxable charity.
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?? I don't understand what you're saying here. That WalMart uses seniors and mentally handicapped people in their stores is a wonderful thing. Until one knows the desperation people feel who are marginally mentally handicapped to find something productive to do with their lives, they cannot appreciate the wonderful service companies provide society when they choose to employ these people.

(Not directly at you -- I just wanted to get that out there. ;))
 
Deuce said:
All hail the Sacred Job Creators. Do no harm to them.

By the way, just because Walmart says they'd stop opening stores in that area doesn't mean they'd actually do it. The vast majority of Walmart's expenditures are inventory, not wages. Raising the minimum wage wouldn't require a substantial price increase like many claim.

And if you're so concerned about socialists, why are you ok with taxpayers subsidizing Walmart's profits via that horrid socialism you hate so much like welfare and food stamps?
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You are aware that a business operates on the difference between the cost of their goods, and price they sell them for. Wages, and everything else is paid for by that difference.
 
MaggieD said:
?? I don't understand what you're saying here. That WalMart uses seniors and mentally handicapped people in their stores is a wonderful thing. Until one knows the desperation people feel who are marginally mentally handicapped to find something productive to do with their lives, they cannot appreciate the wonderful service companies provide society when they choose to employ these people.

(Not directly at you -- I just wanted to get that out there. ;))
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Like i said, it is charity that is taxed. They could install virtual greeters (which would create higher skilled jobs, e.g. the people who have to design, build, and maintain them).
 
Mr.Nick said:
So basically what you're implying is that growth of any kind is bad??? or are you trying to say that if a company grows employees should get more?

What happens when a company takes a loss - should the employees get less?
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When a company does well the employees should do well. When a company struggles employees should expect to sacrifice.
 
captainawesome said:
They don't make enough to pay taxes. They make little enough to get government help.
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People making $50,000 often don't make enough to pay taxes. And THEY get government help. Shall we start paying WalMart greeters and shelf-stockers $50,000 a year?
 
captainawesome said:
I did Walmart made even more money.
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They are a high-volume, low-margin operation, which is typical of large corporations that have a dependence on low-skilled labor.
 
MaggieD said:
People making $50,000 often don't make enough to pay taxes. And THEY get government help. Shall we start paying WalMart greeters and shelf-stockers $50,000 a year?
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People making 50k pay taxes. I have read the income table and 50k pays in.
 
captainawesome said:
When a company does well the employees should do well. When a company struggles employees should expect to sacrifice.
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Good luck with that... You tell employees their 12.50/hour cushy salary just dropped to $9.00/hr they will all look for new jobs...

This is why they're hourly employees - they have no risk...
 
Deuce said:
All hail the Sacred Job Creators. Do no harm to them.
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You’ve got that right! They are “job creators”. They pay wages, provide medical benefits and provide a valued service to the community.

This as opposed to the government which takes money away under threat of force from working people and redistributes it in the form of government jobs which all too often create nothing more than a bureaucracy while providing little or no service to the community.

Deuce said:
By the way, just because Walmart says they'd stop opening stores in that area doesn't mean they'd actually do it.
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I disagree. Why invite this amount of abuse over a simple threat. In real life you do not make a claim like this unless you intend to carry it through.

Deuce said:
The vast majority of Walmart's expenditures are inventory, not wages. Raising the minimum wage wouldn't require a substantial price increase like many claim.
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Wages, like inventory, make-up a huge percentage of any corporations expenditures and a near 50% increase in wages is going to have a huge impact on their bottom-line. Any responsible corporation is going to have to take that into account when deciding if they are going to be able to actively and fairly compete in the local market-place because that’s what “job creators” do!
 
ocean515 said:
You are aware that a business operates on the difference between the cost of their goods, and price they sell them for. Wages, and everything else is paid for by that difference.
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That's not really how it works, no. I have to pay my hourly employees even when they aren't selling anything.
 
captainawesome said:
People making 50k pay taxes. I have read the income table and 50k pays in.
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It all depends - a family of 5 living on a 50k income will pay no tax.

A single individual living on 50k a year will get taxed up the bungaroo.
 
Mr.Nick said:
I did read it.....

Why would anyone want to invest in Walmart with limited earnings on shares?
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You responded with "not true" to a post which showed WalMart earning a profit.

None the less, they have a strong balance sheet with a better earnings multiple than their market (NYSE) average.
 
Mr.Nick said:
Good luck with that... You tell employees their 12.50/hour cushy salary just dropped to $9.00/hr they will all look for new jobs...

This is why they're hourly employees - they have no risk...
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People will sacrifice if they think it is mutual with management. United Airline and Continental employees did. So have many others. Ford employees helped that company turn around.
 
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