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WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

Wal Mart customers want the lowest price on goods. So all Wal Mart is doing is staying competitive by giving their customers want they want. There is a Market for people wanting higher price made in America products and their stores that fill that need.

Right, and there is nothing we can do about that unless we bring back tariffs or something. The point is their business model is a big reason why entire towns have been hollowed out. Obviously, we've decided as a country that meeting Walmart's business model (and the business interests of almost all makers of our consumer goods) of the cheapest possible price for all goods is good for America, and we're willing to watch our production, technology, know how, flee the country and the good jobs with them. But at least we could recognize what is happening and why.

Maybe we might decide that our interests as a country really are NOT aligned with global behemoths who want to produce in lowest common denominator locations and import those products here with no tariff? I hope we do - take a cue from Hamilton and the Founders.
 
Right, and there is nothing we can do about that unless we bring back tariffs or something. The point is their business model is a big reason why entire towns have been hollowed out. Obviously, we've decided as a country that meeting Walmart's business model (and the business interests of almost all makers of our consumer goods) of the cheapest possible price for all goods is good for America, and we're willing to watch our production, technology, know how, flee the country and the good jobs with them. But at least we could recognize what is happening and why.

Maybe we might decide that our interests as a country really are NOT aligned with global behemoths who want to produce in lowest common denominator locations and import those products here with no tariff? I hope we do - take a cue from Hamilton and the Founders.

I always find that silly, My small town of 7,000 had a super center wal mart opened few years ago and small businesses are thriving in my town.
 
I always find that silly, My small town of 7,000 had a super center wal mart opened few years ago and small businesses are thriving in my town.

Depends on the town.

A few years ago CNN did a special show on Walmart, and basically they concluded that the existence of Walmart improved our aggregate standard of living, but only marginally. Just by the law of averages, most communities are going to benefit a little, others may suffer a tad.

In my community, most small businesses didn't suffer a lot due to Walmart moving in, but that was mostly because we already shopped at Walmart, just a different Walmart in a different community. However, shortly after that Lowes opened up across from Walmart, at which time we did lose both of the small hardware stores that we had, an oil and tire store, and most likely a handful of other small retailers that I wasn't aware of. Since we have a variety of other large employers in our county (although not located in my community), who have been expanding (BMW, Michelin, Amazon.com, etc), my community, which is a suburb of a small city, hasn't been hurt as hard as many small towns.
 
Depends on the town.

A few years ago CNN did a special show on Walmart, and basically they concluded that the existence of Walmart improved our aggregate standard of living, but only marginally. Just by the law of averages, most communities are going to benefit a little, others may suffer a tad.

In my community, most small businesses didn't suffer a lot due to Walmart moving in, but that was mostly because we already shopped at Walmart, just a different Walmart in a different community. However, shortly after that Lowes opened up across from Walmart, at which time we did lose both of the small hardware stores that we had, an oil and tire store, and most likely a handful of other small retailers that I wasn't aware of. Since we have a variety of other large employers in our county (although not located in my community), who have been expanding (BMW, Michelin, Amazon.com, etc), my community, which is a suburb of a small city, hasn't been hurt as hard as many small towns.

That's Capitalism.
 
Only because we have a minimum wage which you support of course. Do you also support raising the minimum wage?

Sure....I think that $7 what ever is archaic, and any business that is worried about employee turnover pays more than minimum wage anyway.
 
Depends on the town.

A few years ago CNN did a special show on Walmart, and basically they concluded that the existence of Walmart improved our aggregate standard of living, but only marginally. Just by the law of averages, most communities are going to benefit a little, others may suffer a tad.

In my community, most small businesses didn't suffer a lot due to Walmart moving in, but that was mostly because we already shopped at Walmart, just a different Walmart in a different community. However, shortly after that Lowes opened up across from Walmart, at which time we did lose both of the small hardware stores that we had, an oil and tire store, and most likely a handful of other small retailers that I wasn't aware of. Since we have a variety of other large employers in our county (although not located in my community), who have been expanding (BMW, Michelin, Amazon.com, etc), my community, which is a suburb of a small city, hasn't been hurt as hard as many small towns.

Until you drive through Anderson, or Union county...;)
 
WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

lol.

welp, you're the captain of the nation's largest employer. perhaps you could attempt to remedy this situation.
 
No, me either. Walmart isn't to blame.

My hope is that eventually world wide wages will rise closer to that of the US, at which time it will no longer be cost effective to import goods from around the world, and more manufacturing will come back to the US, ending our trade deficit.

My expectation is that as that happens, we still won't have more jobs, because automation is going to gradually reduce the need for human labor.

So to an extent, we either outsource to foreign countries, or we outsource to automation, the net result on jobs in the US is the same. Of course eliminating our trade deficit would be a plus, and those low wage countries are going to have to start developing their internal markets if they desire to continue to improve their standard of living and to provide ample jobs and decent wages for their people (of course decent wages results in an stronger internal market, so it's really a big spiral, we either spiral downward or upward).

Developing internal markets takes a government that is willing to let free markets flourish doesn't it?
 
lol.

welp, you're the captain of the nation's largest employer. perhaps you could attempt to remedy this situation.

Yes, and a good start would be the paying of a decent wage, one allowing the support of a family.
 
Yes, and a good start would be the paying of a decent wage, one allowing the support of a family.

Not every job is designed to be a career, or support a family. A healthy economy has a progression of jobs available to its participants, from entry level, to career, and all in between. I don't think we want people to be complacent in working for a Walmart, or gas station, or convenience store for that matter do we?

I mean, don't we want people that remain 'upwardly mobile' in terms of work, and innovation?
 
Yes, and a good start would be the paying of a decent wage, one allowing the support of a family.

Not every wage can be a living wage, but there should be better opportunity for promotion and continuing education. If you start out with a lousy wage, there should be a clear path forward to promotion with hard work. There should be job security and better control of schedule, also. You should know when you're going to work, and have some input.

If places like Walmart don't agree to some simple and basic improvements like that, then it's time for unions.
 
'BENTONVILLE Arkansas (Reuters) - U.S. employers may be hiring again, but the job market's recovery is not giving ordinary consumers enough confidence to increase their spending, a top Wal-Mart <WMT.N> executive said on Monday.
In an interview with Reuters at the retailer’s headquarters, Bill Simon, the president and chief executive officer of Wal-Mart U.S., said, “It's really hard to see in our business today … that it's gotten any better.”

He added: “We’ve reached a point where it’s not getting any better but it’s not getting any worse – at least for the middle (class) and down."'

Wal-Mart: US Job Rebound Not Spurring Spending - Business Insider


So much for this great recovery...

The economy has shrunk and there are millions of people on the outside looking in......... Of course Obama wants to import millions more of illegal aliens so he can get them government dependent so they can vote democrat...

Also, all this insourcing is pissing me off...... Both corporations and the federal government are creating a situation where there are no jobs for US citizens. However, the pressure certainly comes from the government with their affirmative action bull****.....
 
The problem is that minimum wage has not kept up with inflation. This means the minimum wage in the 60s and 70s had more buying power than today. This makes paying for necessary things like rent, food and gas nearly impossible. This was not at all the case for 30 years while the minimum wage was set in place. It needs to be corrected for inflation.
 
The economy has shrunk and there are millions of people on the outside looking in......... Of course Obama wants to import millions more of illegal aliens so he can get them government dependent so they can vote democrat...

Also, all this insourcing is pissing me off...... Both corporations and the federal government are creating a situation where there are no jobs for US citizens. However, the pressure certainly comes from the government with their affirmative action bull****.....

Obama may want to look sympathetic to immigrants to keep the latino voting block but illegals can't vote. And the republicans won't pass a reform bill unless they get can get concessions, like more cuts to food stamps. Both sides are using that issue as a political football.

The middle class isn't improving because corporate America has increased profitability by downsizing staff, wages, benefits and inventory. If people don't make enough money to buy their products their overall sales are going to decrease, along with their market share as bargain stores (Dollar, Big Lots, Ebay, Flea Markets etc) put the pressure on to compete.
 
The problem is that minimum wage has not kept up with inflation. This means the minimum wage in the 60s and 70s had more buying power than today. This makes paying for necessary things like rent, food and gas nearly impossible. This was not at all the case for 30 years while the minimum wage was set in place. It needs to be corrected for inflation.

Although PEW studies agree with your assessment that the MW has decreased in overall buying power, by some 5.8% it also reveals that less than 20% of the workforce made MW. The breakdowns are here:

5 facts about the minimum wage | Pew Research Center

I think a majority of people actually can support a MW increase as long as it is not ridiculous in scope, ie; $15 per hour for fast food workers.

typically younger people in the workforce, or transitional persons slightly older as second jobs are the MW workforce. So this hyperbole about supporting families on MW while does happen in some circumstances, is NOT the norm.
 
You lost me jmac :confused:
 
Historically we have always had lot's of low skill low education folks, but somehow we managed to do a little better than third world wages.

well, for one, we didn't import millions from the third world to compete with them.

however, that is also not entirely accurate. a couple of centuries ago the per capita GDP of the US was about on par with sub-saharan africa. Since then we've done pretty well due to higher growth rates.

All of which is neither here nor there. Government can abuse it's power to set the price of a thing, but it cannot actually use the power of law to fix its' worth. If you want to have 5-10x the salary of someone else who can do the job, they need to provide 5-10x the value added.
 
The problem is that minimum wage has not kept up with inflation. This means the minimum wage in the 60s and 70s had more buying power than today. This makes paying for necessary things like rent, food and gas nearly impossible. This was not at all the case for 30 years while the minimum wage was set in place. It needs to be corrected for inflation.

minimum wage was not set in place 30 years ago. You are picking the point at which minimum wage was at it's apex and declaring that we should fix to that.
 
minimum wage was not set in place 30 years ago. You are picking the point at which minimum wage was at it's apex and declaring that we should fix to that.

I didn't say it was set thirty years ago. I said for thirty years, people making minimum wage could afford such basic things as food, rent and gas. That of course is no longer true.
 
I didn't say it was set thirty years ago. I said for thirty years, people making minimum wage could afford such basic things as food, rent and gas. That of course is no longer true.

This was not at all the case for 30 years while the minimum wage was set in place. It needs to be corrected for inflation.

I read too fast and read the "while" as a "when". Mea Culpa.

However, I admit to being astonished. I wonder how all these minimum wage earners are surviving when they cannot eat or live protected from the elements?
 
Not every wage can be a living wage, but there should be better opportunity for promotion and continuing education. If you start out with a lousy wage, there should be a clear path forward to promotion with hard work. There should be job security and better control of schedule, also. You should know when you're going to work, and have some input.

If you don't, you can't retain workers that require that.

If places like Walmart don't agree to some simple and basic improvements like that, then it's time for unions.

Kiva-systems-orange-robots.jpg
 
Not every wage can be a living wage, but there should be better opportunity for promotion and continuing education. If you start out with a lousy wage, there should be a clear path forward to promotion with hard work.

Well, that would be Walmart. They tend to promote from within; the vast majority of management were former associates.

If places like Walmart don't agree to some simple and basic improvements like that, then it's time for unions.

:lol: Yeah. Because Walmart clearly needs an economic model so successful that it gave us Detroit.
 
Although PEW studies agree with your assessment that the MW has decreased in overall buying power, by some 5.8% it also reveals that less than 20% of the workforce made MW. The breakdowns are here:

5 facts about the minimum wage | Pew Research Center

I think a majority of people actually can support a MW increase as long as it is not ridiculous in scope, ie; $15 per hour for fast food workers.

typically younger people in the workforce, or transitional persons slightly older as second jobs are the MW workforce. So this hyperbole about supporting families on MW while does happen in some circumstances, is NOT the norm.

I feel bad for young people making that wage. When I was young, I took a minimum wage job to pay for my post secondary education. While it didn't pay the full cost, it covered a substantial amount and I paid per semester. Kids now a days probably can't afford books and other fees on minimum wage never mind tuition. The cost of everything has skyrocketed. Since we are talking statistics, 5% of individuals make over $100K while 20% of household income (more than one person) make that amount.
It would take $279,900 to have the same purchasing power in 2012 compared to $100,000 in 1980. Gulp.

Info from:
Read more: $100,000 Income: No Big Deal Anymore | Bankrate.com
Follow us: @Bankrate on Twitter | Bankrate on Facebook
 
I read too fast and read the "while" as a "when". Mea Culpa.

However, I admit to being astonished. I wonder how all these minimum wage earners are surviving when they cannot eat or live protected from the elements?

Easy enough error to make. I've done it myself.

I believe they survive via government handouts.
 
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