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05-20-2008, 08:29 AM | #1 |
No Longer a Member Join Date: Sep 2007 Location: Riverview, Florida
Posts: 4,953
| Walmart: The high cost of low price Has anyone seen this movie? We always hear of sweat factories...but OMG this movies is really eye opening. I am watching it now on Starz. This movie is a documentary about how Walmart gets it's products and how it makes money. I Have been thinking of ways to save money. Like many of you, i have tried to totally cut out starbucks, try to run errands at the same time etc. We are doing fine finacially TODAY...but I am so unsure of the future and the impending recession. I was cutting coupons today and thinking if I take them to walmart I will get even bigger savings. I know now because I can afford it... I Plan on staying away from Walmart. I am hoping that I will never be forced to buy my groceries there due to the economy...just because of how others around the world are having to work 14 hours a day making $.17/hr. Ironically the 5 owners are worth 18 billion dollars a piece and the CEO earns over 27 million a year. The workers can donate 1% of their salary to go toward a fund to help support fellow coworkers who suffer loss of house, health etc. They donated 5million bucks in 2004 while the waltons donated 6K! I know it goes on in every industry and and I cant do much to make a difference by myself, but at least I can go to sleep at night knowing i am not going to support it. The purpose of this post is not to stop anyone else from shopping at Walmart. It is just to let you know the information is out there if you want to know about it. They have gone way beyond just closing down mom and pop stores and hurting small businesses. It is so much bigger than that! If you have the time or the energy to KNOW, I encourage you to check out this movie. |
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05-20-2008, 09:08 AM | #2 |
Yorkie Kisses are the Best! Donating Member | what a good post - they really did run everyone out of business and to hear the WORKERS DONATED more than the rich owners makes me sick |
05-20-2008, 09:17 AM | #3 |
Donating YT 10K Club Member | Personally I never shop at Walmart. I hate the place. That being said....here is how Walmart does do business...because we do work for them in their automotive centers. They contact a vendor...we will buy only your equipment for EACH of our stores. We will pay X for this equipment...when it needs service (that's our end)...we will pay X for the labor and X for the parts. EVERY vendor has agreed to Walmart terms...because there's a whole lotta Walmarts. PS From someone who knows....do NOT get your vehicle serviced at Walmart. It is not in your best interest...trust me.
__________________ Deb, Reese, Reggie, Frazier, Libby, Sidney, & Bodie Trace & Ramsey who watch over us www.biewersbythebay.com |
05-20-2008, 10:24 AM | #4 |
No Longer a Member Join Date: Jan 2007 Location: PORTERVILLE, CA
Posts: 1,574
| Remember many years back when the Walmart theme was "Buy American" and they promoted all of their products as being American? Then there was an expose' done where they were caught on film in the factories overseas that utilized child labor. Busted. The 'Buy American' and "American Made' theme was discarded. Hard to lie when you have been caught on camera. |
05-20-2008, 11:02 AM | #5 |
Senior Yorkie Talker Join Date: Apr 2008 Location: Norman
Posts: 167
| you can find the same things about other companies...just that walmart is so big it is easy to attack them...look up homeland, alberstons, and all the other big comanies...if you research hard enough...there wont be any places to shop at. just before you go hard on walmart...research all the other corporations that are doing the exact same thing and dont buy from them either...its exhausting...i saw that thing on walmart and did a google search about other companies i thought "well since i wont support walmart i should not support the companies making the same mistakes" so i did a google search...well needles to say...im back to shopping at walmart...im poor and i need as most of my money as possible...and once i researched all the other big companies....*sigh i didnt have a place to shop...i have been resolved to thinking its just the world we live in...money money money |
05-20-2008, 11:04 AM | #6 | |
No Longer a Member Join Date: Sep 2007 Location: Riverview, Florida
Posts: 4,953
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05-20-2008, 11:12 AM | #7 | |
No Longer a Member Join Date: Sep 2007 Location: Riverview, Florida
Posts: 4,953
| Quote:
The intention of this POST was NOT to discourage people from shopping there. I just encourage everyone to watch the movie | |
05-20-2008, 11:19 AM | #8 | |
No Longer a Member Join Date: Jan 2007 Location: PORTERVILLE, CA
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I would never presume to tell anyone where to shop or.... not to shop in a particular place. Nobody has a right to do that. I go to Walmart when all other options are exhausted. I don't like it there. For many reasons. Not just those mentioned on this post. For only one example....There is another thread about buying fabric at Walmart. I will only buy fabric there when it is for a temporary project....like a child's costume for a school project that will be used once. I simply don't like the quality. I am a quilter and when I spend so much time and effort and feel like I am making an 'heirloom' then I want lasting fabrics that have a good 'hand'....Walmart does not sell these types of fabrics. Although they cost more, I buy from privately owned shops that do sell the quality I am seeking. Sooo...these are just my 'opinions' ...... | |
05-20-2008, 11:30 AM | #9 |
Donating YT 1000 Club Member Join Date: Jul 2005 Location: Chicago Suburbs
Posts: 3,306
| I'm not a WalMart fan also for many reasons. I don't like their business practices. I also don't think they are cheaper than the stores I shop at (for the same products, they have plenty of lower quality products that are cheap) Our WalMarts here, even the 'upscale' one in the neighborhood with the million dollar houses, are dirty. I feel like I have to shower after I go there, so I try not to. I know about a lot of the stuff that's in the movie already, especially about how they pressure companies to lower prices (and don't necessarily pass along the savings..) and how they come into small towns and put everyone else out of business - which, to be honest, is the residents' fault for allowing it. Anyway, I'd like to see the movie.
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05-20-2008, 11:46 AM | #10 | |
No Longer a Member Join Date: Sep 2007 Location: Riverview, Florida
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05-20-2008, 05:05 PM | #11 |
No Longer a Member Join Date: May 2007 Location: City, State, Country
Posts: 1,763
| Those are propaganda films to make you feel bad for being a successful American. Don't you believe it. 1. If it weren't for companies 'like Walmart', those 'poor' people probably wouldn't even have a job at all. 2. Their low wages are relative to their low cost of living. Obviously not to our standard of middle class, but relatively lower-to-middle class. 3. Buy almost anything, truly ANYTHING today (even a Harley-Davidson motorcycle!*) and you ARE supporting third world country labor. 4. Despite what the left wings are telling you, supporting third world country labor is a GOOD thing, for crying out loud. People working is good for their country. Charity sure won't build their country. Buying their products sure beats the h3ll out of sending them cash! Research is good, but don't forget to research both sides. *For years now, Harley-Davidson Motorcycles has not been legally able to stamp their motorcycles as "Made In USA" because less than 51% of their product is made in the USA. Check the tags on their replacement parts and their licensed products (jackets, etc.)! Last edited by MrYorkiecrazy; 05-20-2008 at 05:06 PM. Reason: clarity |
05-20-2008, 05:47 PM | #12 | |
No Longer a Member Join Date: Sep 2007 Location: Riverview, Florida
Posts: 4,953
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Ok Lets say that without their jobs most people in these countries would not make any money at all. Lets say that in their country it is ok to have a lil 8 yr old boy work 14-16 hrs without a break. So here is what my research has turned up and I guess all of these resources are left wing too Even The ones from China. But what about the American walmart workers: And even after reading all of this.. Please let me state AGAIN. I was just commenting on the fact that I WATCHED the movie and did not or do not expect anyone else to stop shopping at Walmart. In 2001, sales associates, the most common job in Wal-Mart, earned on average $8.23 an hour for annual wages of $13,861. The 2001 poverty line for a family of three was $14,630. ["Is Wal-Mart Too Powerful?", Business Week, 10/6/03, US Dept of Health and Human Services 2001 Poverty Guidelines, 2001] A 2003 wage analysis reported that cashiers, the second most common job, earn approximately $7.92 per hour and work 29 hours a week. This brings in annual wages of only $11,948. ["Statistical Analysis of Gender Patterns in Wal-Mart's Workforce", Dr. Richard Drogin 2003] Wal-Mart Associates don't earn enough to support a family The average two-person family (one parent and one child) needed $27,948 to meet basic needs in 2005, well above what Wal-Mart reports that its average full-time associate earns. Wal-Mart claimed that its average associate earned $9.68 an hour in 2005. That would make the average associate's annual wages $17,114. ["Basic Family Budget Calculator" online at www.epinet.org] Wage increases would cost Wal-Mart relatively little Wal-Mart can cover the cost of a dollar an hour wage increase by raising prices a half penny per dollar. For instance, a $2.00 pair of socks would then cost $2.01. This minimal increase would annually add up to $1,800 for each employee. [Analysis of Wal-Mart Annual Report 2005] Wal-Mart forces employees to work off-the-clock Wal-Mart's 2006 Annual Report reported that the company faced 57 wage and hour lawsuits. Major lawsuits have either been won or are working their way through the legal process in states such as California, Indiana, Minnesota, Oregon, Pennsylvania, and Washington. [Wal-Mart Annual Report 2006] In December 2005, a California court ordered Wal-Mart to pay $172 million in damages for failing to provide meal breaks to nearly 116,000 hourly workers as required under state law. Wal-Mart appealed the case. [The New York Times, December 23, 2005] A Pennsylvania court, also in December 2005, approved a class-action lawsuit against Wal-Mart Stores Inc. by employees in Pennsylvania who say the company pressured them to work off the clock. The class could grow to include nearly 150,000 current or former employees. [Arkansas Democrat-Gazette, January 12, 2006 ] In Pennsylvania, the lead plaintiff alleges she worked through breaks and after quitting time — eight to 12 unpaid hours a month, on average — to meet Wal-Mart's work demands. "One of Wal-Mart's undisclosed secrets for its profitability is its creation and implementation of a system that encourages off-the-clock work for its hourly employees," Dolores Hummel, who worked at a Sam's Club in Reading from 1992-2002, charged in her suit. [Arkansas Democrat-Gazette, January 12, 2006 ] For 2005, the year for which the most recent figures are available, Wal-Mart led the Journal of Commerce's annual Top 100 Importers rankings. Wal-Mart also led the list in 2004 and 2003. In 2005, Wal-Mart imported the equivalent of 695,000 20-foot equivalent container units (TEU). [Journal of Commerce, May 29, 2006 and Journal of Commerce, May 31, 2004] | |
05-20-2008, 05:49 PM | #13 |
No Longer a Member Join Date: Sep 2007 Location: Riverview, Florida
Posts: 4,953
| Wal-Mart's Health Care Plan Fails to Cover Over 775,000 Employees Wal-Mart reported in January 2006 that its health insurance only covers 43% of their employees. Wal-Mart has approximately 1.39 million US employees. [http://www.walmartfacts.com/docs/162...576890240.pdf] Wal-Mart's Health Insurance Falls Far Short of Other Large Companies On average for 2005, large companies (200 or more workers) cover approximately 66% of their employees. If Wal-Mart was to reach the average coverage rate, Wal-Mart should be covering an additional 318,000 employees [Kaiser Family Foundation, 2005 and http://www.walmartfacts.com/docs/162...576890240.pdf]. Wal-Mart's Health Care Eligibility is Restrictive Part-timers—anybody below 34 hours a week — must wait 1 year before they can enroll. Moreover, spouses of part-time employees are ineligible for family health care coverage for 2006. [Wal-Mart Stores, "My Benefits, New Peak Time Benefits Making a Difference For You," 2006] Full-time hourly employees must wait 180 days (approximately 6 months) before being able to enroll in Wal-Mart's health insurance plan. Managers have no waiting period. [Wal-Mart 2006 Associate Guide] Nationally, the average wait time for new employees to become eligible is 1.7 months. For the retail industry it is 3.0 months. [Kaiser Family Foundation & Health Research and Educational Trust, 2005] All of Wal-Mart's Health Plans Are Too Costly for Its Workers to Use Since the average full-time Wal-Mart employee earned $17,114 in 2005, he or she would have to spend between 7 and 25 percent of his or her income just to cover the premiums and medical deductibles, if electing for single coverage. [Wal-Mart 2006 Associate Guide and UFCW analysis] The average full-time employee electing for family coverage would have to spend between 22 and 40 percent of his or her income just to cover the premiums and medical deductibles. These costs do not include other health-related expenses such as medical co-pays, prescription coverage, emergency room deductibles, and ambulance deductibles. [Wal-Mart 2006 Associate Guide and UFCW Analysis]. Wal-Mart trumps the affordability of its new health care plan. According to Wal-Mart, "In January [2006], ...Coverage will be available for as little as $22 per month for individuals" [www.walmartfacts.com] What Wal-Mart's website leaves out: Coverage is affordable, but using it will bankrupt many employees. Wal-Mart's most affordable plan for 2006 includes a $1,000 deductible for single coverage and a $3,000 deductible for family coverage ($1,000 deductible per person covered up to $3,000). [Wal-Mart 2006 Associate Guide] Wal-Mart Admits Public Health Care is a "Better Value" President and CEO Lee Scott said in 2005, "In some of our states, the public program may actually be a better value - with relatively high income limits to qualify, and low premiums." [Transcript Lee Scott Speech 4/5/05] Wal-Mart's Health Care is Getting Costlier Between 2000-2005, the cost of premiums rose 169 percent for single coverage and 117 percent for family coverage. [UFCW analysis of annual Wal-Mart Associate Guides]. In comparison, premiums for family coverage in the U.S. have increased only by 59%, from 2000-2005. [Employer Health Benefits: 2004 Annual Survey, Kaiser Family Foundation & Health Research and Educational Trust, 2004] Wal-Mart Employees Pay More for Health Care Costs In 2004, Wal-Mart employees, in total, paid approximately 41% of the plan costs [Wal-Mart IRS 5500 Filings, 2005]. Nationally for 2004 on average employees paid for only 16% of single coverage costs and 28% of family coverage costs [Kaiser Family Foundation, 2005]. Wal-Mart Covers Less of the Health Care Costs Compared to Its Competitors In a state analysis, the Massachusetts Department of Health and Human Services found that in 2003, Wal-Mart covered only 52% of total health care premium costs compared to K-Mart which covered 66%, Target which covered 68%, and Sears which covered 80% ["Employers Who Have 50 or More Employees Using Public Health Assistance," Division of Health Care Finance and Policy, 2/2005] Wal-Mart's Spending Falls Below Industry Standards Wal-Mart's spending on health care for its employees falls well below industry and national employer averages. In 2002, as reported in the Wall Street Journal, Wal-Mart spent an average of $3,500 per employee. By comparison, the average spending per employee in the wholesale/retailing sector was $4,800. For U.S. employers in general, the average was $5,600 per employee, Therefore, Wal-Mart's average spending on health benefits for each covered employee was 27% less than the industry average and 37% less than the national average. [Bernard Wysocki, Jr. and Ann Zimmerman, "Wal-Mart Cost-Cutting Finds a Big Target in Health Benefits," Wall Street Journal September 30, 2003 p1] Wal-Mart Only Spends 77 Cents an Hour Per Employee for Health Benefits In 2004, Wal-Mart spent $1.5 billion on its health insurance. This amounts to an employer contribution of around only $0.77 an hour per employee. This accounts for approximately a half-percent of Wal-Mart's $285 billion in sales in 2004. [Susan Chambers, Wal-Mart Internal Memo, 2005, Wal-Mart Annual Report, 2005]. Wal-Mart Increased Advertising More Than Health Care In 2004, Wal-Mart spent nearly the same amount on advertising as it did on health insurance. In 2004, Wal-Mart reports that it spent $1.5 billion on health care benefits and $1.4 billion in advertising. [Wal-Mart Annual Report 2005, Susan Chambers, Wal-Mart Internal Memo, 2005] Between 2003 and 2004, Wal-Mart increased its advertising budget by $434 million, only increasing its spending on employee health care by $100 million. That means Wal-Mart increased its spending on advertising by 45 percent while only increasing its spending on employee health care by 7 percent. [Wal-Mart Annual Report 2005, Susan Chambers, Wal-Mart Internal Memo, 2005] In fact, Wal-Mart has consistently increased spending on advertising more than its spending on employee health care. Between 2002 and 2003, Wal-Mart put more new funds into advertising than into health care. Wal-Mart increased spending on advertising by $290 million, while only increasing health care spending by $215 million for the same period. (note: this also occurred in 1995-96, 1997-98,1998-1999). [Wal-Mart Annual Reports and 5500 Filings] One Out of Six Wal-Mart Employees Has No Health Care Coverage At All This is more than double the national percentage for large firms (firms with over 100 employees). In fact, we estimate that Wal-Mart accounted in 2005 for more than 1 out of every 40 uninsured workers who are employed at a large firm. [Susan Chambers, Wal-Mart Internal Memo, 2005; Wal-Mart Annual Report; "Employer-Sponsored Health Insurance Coverage: Sponsorship, Eligibility, and Participation Patterns in 2001," Bowen Garrett, Ph.D., released by the Kaiser Family Foundation September 2004]. |
05-20-2008, 05:51 PM | #14 |
No Longer a Member Join Date: Sep 2007 Location: Riverview, Florida
Posts: 4,953
| and my favorite part Your tax dollars pay for Wal-Mart's greed The estimated total amount of federal assistance for which Wal-Mart employees were eligible in 2004 was $2.5 billion. [The Hidden Price We All Pay For Wal-Mart, A Report By The Democratic Staff Of The Committee On Education And The Workforce, 2/16/04] One 200-employee Wal-Mart store may cost federal taxpayers $420,750 per year. This cost comes from the following, on average: $36,000 a year for free and reduced lunches for just 50 qualifying Wal-Mart families. $42,000 a year for low-income housing assistance. $125,000 a year for federal tax credits and deductions for low-income families. $100,000 a year for the additional expenses for programs for students. $108,000 a year for the additional federal health care costs of moving into state children's health insurance programs (S-CHIP) $9,750 a year for the additional costs for low income energy assistance. [The Hidden Price We All Pay For Wal-Mart, A Report By The Democratic Staff Of The Committee On Education And The Workforce, 2/16/04] Health care subsidies compared to executive compensation Excluding his salary of $1.2 million, in 2004 Wal-Mart CEO Lee Scott made around $22 million in bonuses, stock awards, and stock options in 2004. This $22 million could reimburse taxpayers in 3 states where Wal-Mart topped the list of users of state-sponsored health care programs, covering more than 15,000 Wal-Mart employees and dependents. [Wal-Mart Proxy Statement and News Articles GA, CT, AL]. Your tax dollars subsidize Wal-Mart's growth The first ever national report on Wal-Mart subsidies documented at least $1 billion in subsidies from state and local governments. A Wal-Mart official stated that "it is common" for the company to request subsidies "in about one-third of all [retail] projects." This would suggest that over a thousand Wal-Mart stores have been subsidized. ["Shopping For Subsidies: How Wal-Mart Uses Taxpayer Money to Finance Its Never-Ending Growth," Good Job First, May 2004] Back to top Community Impact Download the Wal-Mart and Community Impact Fact Sheet - PDF Wal-Mart's growth negatively impact worker's wages The most comprehensive study of Wal-Mart's impact showed that the stores reduced earnings per person by 5 percent. This 2005 study by an economist from the National Bureau of Economic Research used Wal-Mart's own store data and government data for all counties where Wal-Mart has operated for 30 years, It found that the average Wal-Mart store reduces earnings per person by 5 percent in the county in which it operates. [David Neumark, The Effects of Wal-Mart on Local Labor Markets 2005] The Cost of Wal-Mart's entry into a community can be significant According to a 2003 estimate, the influx of big-box stores into San Diego would result in an annual decline in wages and benefits which could cost the area up to $221 million [San Diego Taxpayers Association (SDCTA), 2003] Lower wages mean less money for communities When an employer pays low wages to its employees, the employees have less money to spend on goods and services in the community, which in turn reduces the income and spending of others in the community. In other words a reduction in wages has a multiplier impact in the surrounding area. For instance, in 1999, Southern California municipalities estimated that for every dollar decrease in wages in the southern California economy, $2.08 in spending was lost-- the $1 decrease plus another $1.08 in indirect multiplier impacts. ["The Impact of Big Box Grocers in Southern California" Dr. Marlon Boarnet and Dr. Randall Crane, 1999.] Wal-Mart hurts other businesses when it comes to town. In Maine, existing businesses lost over 10 percent of their market in 80 percent of the towns where Wal-Mart opened stores. [Georgeanne Artz And James McConnon, The Impact of Wal-Mart on Host Towns and Surrounding Communities in Maine, 2001] Food stores in Mississippi lost 17 percent of their sales by the fifth year after a Wal-Mart Supercenter had come into their county, and retail stores lost 9 percent of their sales [Kenneth Stone and Georgeanne Artz, The Economic Impact of a Wal-Mart Supercenter on Existing Businesses in Mississippi, 2002] Over the course of [a few years after Wal-Mart entered a community], retailers' sales of apparel dropped 28% on average, hardware sales fell by 20%, and sales of specialty stores fell by 17%. [Kenneth Stone at Iowa State University, "Impact of the Wal-Mart Phenomenon on Rural Communities," 1997] In towns without Wal-Marts that are close to towns with Wal-Marts, sales in general merchandise declined immediately after Wal-Mart stores opened. After ten years, sales declined by a cumulative 34%. [Kenneth Stone at Iowa State University, "Impact of the Wal-Mart Phenomenon on Rural Communities," 1997] Wal-Mart destroys the environment Between 2003 and 2005, state and federal environmental agencies fined Wal-Mart $5 million. In 2005, Wal-Mart reached a $1.15 million settlement with the State of Connecticut for allowing improperly stored pesticides and other pollutants to pollute streams. This was the largest such settlement in state history. [Hartford Courant, 8/16/05] In May 2004, Wal-Mart agreed to pay the largest settlement for stormwater violations in EPA history. The United States sued Wal-mart for violating the Clean Water Act in 9 states, calling for penalties of over $3.1 million and changes to Wal-Mart's building practices. [U.S. Environmental Protection Agency, May 12, 2004, U.S. v. Wal-Mart Stores Inc., 2004 WL 2370700] In 2004, Wal-Mart was fined $765,000 for violating Florida's petroleum storage tank laws at its automobile service centers. Wal-Mart failed to register its fuel tanks, failed to install devices that prevent overflow, did not perform monthly monitoring, lacked current technologies, and blocked state inspectors. [Associated Press, 11/18/04] In Georgia, Wal-Mart was fined about $150,000 in 2004 for water contamination. [Atlanta Journal-Constitution, 2/10/05] Wal-Mart increases vehicle traffic A 2004 study of estimated additional driving costs of Supercenters in the San Francisco Bay area concluded that there would be up to an additional 238 million vehicle miles traveled per year. [Supercenters and the Transformation of the Bay Area Grocery Industry: Issues, Trends, and Impacts. Bay Area Economic Forum, 2004] These extra miles traveled could cost communities in the Bay area up $ 256 million in additional costs for infrastructure repair and environmental degradation. [Supercenters and the Transformation of the Bay Area Grocery Industry: Issues, Trends, and Impacts. Bay Area Economic Forum, 2004] Wal-Mart desecrates sacred grounds A nonprofit group that oversees the care of Native Hawaiian remains filed a lawsuit in 2003 against Wal-Mart, the State of Hawaii and the City of Honolulu. It alleged they violated state law dealing with the protection of preservation of human remains and desecration of graves. More than 60 sets of human remains were found at the Wal-Mart construction site in Honolulu. [KHNL-TV/KHBC/KOGG, HI. 7/20/2005] In 2004, Wal-Mart built a 71,902-square-foot store near the Pyramids of the Sun and Moon in San Juan Teotichuacan, Mexico. Teotihuacan was called "the place where the gods were created" by the Aztecs. [Knight Ridder, 10/25/04] In 1997, the Alliance for Native American Indian Rights in Tennessee called for a retail boycott of Wal-Mart after construction began on a site for a new store near Nashville. According to a state archaeologist, the site contained 150 graves. [Fulton County Daily Report, 11/30/00, Chattanooga Free Press, 11/23/98] Wal-Mart's empty stores are blighting communities As of May 2006, Wal-Mart Realty has listed 320 vacant or soon to be vacant properties that the company is looking to lease or sell. They total to over 25 million square feet. Combined they are more than 6 times larger than the Pentagon building and larger than 440 football fields. [www.walmartrealty.com] Wal-Mart's rapid expansion of Supercenters and Sam's Clubs has contributed to hundreds of vacant stores across the country. ["Wal Mart site: Use as is or rebuild?", Dallas Morning News, 2/20/02] When Wal-Mart decides to convert a discount store into a larger Supercenter, it is often cheaper or easier simply to relocate entirely. David Brennan, associate professor of marketing at the University of St. Thomas, in St. Paul, Minn, noted that Wal-Mart stores relocate so regularly that, "it is not uncommon to relocate right across the street." ["Home Depot to Move from Old to New Store Next Door," Providence News-Journal, 8/17/03] Wal-Mart's stores are uselessly large for most other tenants. An average discount store is 97,000 square feet. Wal-Mart's Supercenters are on average nearly twice as large at 186,000 square feet. [www.walmartfacts.com] Also Wal-Mart often resists other large retail stores moving in. A president of a major real estate developer in Dallas said in 2002, "They're not going to be very receptive to any retailer going into it and even if they sell it, they might put a non- compete clause in there." As one Wal-Mart spokesperson said in 2004, "There are times when it's in our interest to get the property moving faster, but we're certainly not going to give a competitor an advantage." [Dallas Morning News 2/20/02, Wall Street Journal, 9/15/04] Wal-Mart planned to build another 60 million square feet of store space in 2006, or roughly the equivalent of 1,040 football fields or 16 Pentagon buildings. [Wal-Mart Stores, Twelfth Annual Analysts' Meeting, FD (Fair Disclosure) Wire October 25, 2005] |
05-20-2008, 06:07 PM | #15 |
No Longer a Member Join Date: Jan 2007 Location: PORTERVILLE, CA
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