I appreciate what you are saying here, and have a few differences, but you're right, we took similar paths, and both seemed to end up ok....Let me just say that retail is a hard business to do anything substantial as far as wealth creation goes...Like I said my father owned a Pharmacy, that also sold convenience items, and liquor as well, and his store although provided a good living, he wasn't a rich man by any means. I am struck by the old adage that 'you can go into business to create a job, or you can make a difference and be rich'.... My father's business although we didn't want for anything, we were no where near rich.
Mornin' Bud. We were not rich either, and we too did not want for anything despite there being 5-kids. My Dad worked 3-jobs at one time, while my Mom worked part time. I'd be remiss if I did not ask why can't someone go into business to create a job,
make a difference,
and get rich? Also, with Walmart coming to every community, and all of them having pharmacies, what do you think the chances would be of your Dad opening a store in this day and age? The death of the Mom & Pop, contrary to popular belief, is not good for America. Your Dad, and the rest of the Mom & Pops are the door greeters at Walmart now.
But the point where we have a difference is that an employer's responsibility to its workers, IMHO, is to pay a fair wage for work done (doesn't mean a livable wage), provide a safe work environment, and reasonable hours. Other than that, I think the responsibility stops there. The business doesn't adopt the person for goodness sake....You mentioned that you were also in car sales of some sort, and a manager for used cars, right? Knowing that business, I am sure that you saw your share of salesmen under you, that struggled to sell a car, or maybe every car they sold was a 'mini deal' where they made very little for moving it....But that is the business right? A car dealer pays people on commission so it is up to the person to sell the car, the more they sell it for, the better money they make. The ability to make the money is totally on the salesman....Now, do you think that if a dealer has a salesman that every car they sell is at cost, ie; 'giving them away', should then draw a living wage from the dealer if the dealer is making NO profit? And how long would that salesman last?
I never said anything about adopting anyone for life. In fact, I emphasized "
hard work". You cannot be efficient, proud workers unless you work hard. I also never mentioned anything about dead weight. No workie, no production, no job. Again, I'm not looking at something for nothing. Just fairness for the people who make a go of it, and the employer taking some responsibility for the greater good. I bring up Henry Ford once again, because he knew about paying people enough to be able to buy what they were making. Makes me think about a food drive for employees who cannot afford to buy the food products in the store they work in.
The car business is not a job at Walmart and to be successful you have to have a skill set most people do not have. It is a step up from Walmart, and also contrary to popular belief, you do not have to be a crook to be good at it. You have to be good at a
whole lot of other things, including having an ability to interact with ever kind of personality under the sun. I've had guys who had all the heart, worked hard, and just couldn't get it. Taking a weekly draw against commission and not selling cars leads to a self launching 90% of the time. For the other 10%, you just let them go. Although I can remember a few people who tried real hard, but didn't have the stuff for sales, being offered a job in another part of the store if they were worth keeping. Again, I am not against hard work and performance evaluation.
So, when you cite the raw number profit, ie; $16 Billion, $17 Billion etc...I think you are making the mistake of looking at raw numbers, and not percentages...3 to 4% is not a hell of alot of money....Considering they are the largest retail employer in the US with over 4,000 stores, and over 2 million employees. Plus, if you think that they are too big, and should be gone, what would that look like? Prices for everyone would go up, and 2 million more unemployed....Great.
You are right, I am looking at the NET PROFIT after everything and not the claimed percentages. They gross around $120-Billion, and after some creative accounting, because they can afford the best Tax attorneys and accountants on the planet, they are making a paltry $17-Billion. Now, I'm sure that when paying off some of their debt each year they never pay money to themselves in the form of some subdivision of the corporation, just like oil companies and every other large corporation . . . nope, not Walmart. But I forgot, this creative accounting is something we all should admire. Over 4000 stores, if we spend a little less than a million a year on each store in tax dollars representing food stamps, health care, child care, etc, then Walmart receives about $4-Billion in subsidies that never appear on the bottom line . . . benefitting Walmart, its executives, and share holders only.
I think they are too big. I wish they could be gone . . . that is not going to happen. The Big Box has changed America forever, and cemented a whole lot of people into the low paying service industry. Their profit margins prove they could be a hell of a lot more responsible . . . and not hurt the country too bad (
sarcasm).