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Wal-Mart Says February Sales "Total Disaster", Worst Monthly Start Since 2006; Stock Drops
Wal-Mart shares are plunging as the firm reports a 'total disaster' in its February sales. Bloomberg obtained internal emails that note:
"In case you haven’t seen a sales report these days, February MTD sales are a total disaster,” Jerry Murray, Wal-Mart’s vice president of finance and logistics, said in a Feb. 12 e-mail to other executives, referring to month-to-date sales. “The worst start to a month I have seen in my ~7 years with the company.... That points to our competitive landscape, which means everyone is suffering and probably worse than we are”
It gets better:
“We have to fight against the tougher economic environment to earn a bigger share of a smaller consumer spending pie"
Obviously in WMT speak, "tougher" is what Obama would call "much better and rapidly improving."
Things must not be serious over in Bentonville for this much truth to suddenly hit the tape.
One senior executive summed it up perfectly - “Well, we just had one of those weeks here at Walmart U.S. Where are all the customers? And where’s their money?” The company notes the end of the payroll tax cut by Obama and asks "We need to stop the stupid."
How odd: why is WMT focused on such trivial anachronisms as "money": can't it just boost its multiple by promising 2022 sales will be stupendously marvelously humongous. It works for every other hollowed shell of a firm, gutted by Bernanke's central planning.
Perhaps, just perhaps, some reality will finally come back to the market as a result of this disclosure.
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Voting does not seem to change anything in DC. Maybe pissed off billionaire Waltons can light a fire under BO and his goons.
If they were actually stocked in ammo, they would have no problem making good m-o-m and y-o-y numbers. There are always a number of guys milling around the ammo case talking about when they used to be able to shoot their guns. Some of us are just looking to add to stacks...
... while Wal Mart execs just want to 'stop the stupid.'
Hope they're serious ...
Hoocodanode that pissing off gun-totin' Amuricans was bad for the top 'n bottom lines?
When the masses can't afford to shop at Walmart, then you know its getting worse
.
Now, when they can't afford shopping at 'the Dollar Store'...look the fuck out.
Increase monthly SNAP and EBT allotment increase sales. duh.
Oh, those poor Walmartians. Where did all the money go, well just look at all the merchandise stocked on your shelves. Since practically everything on your shelves comes from China or is manufactured outside the US, maybe you should be asking them where all our jobs and money went.
No ammo, no money.
Mo ammo, mo money.
"Now, when they can't afford shopping at 'the Dollar Store'...look the fuck out."
When the dollar store runs out of things to sell for a $1, then I guess they will become $10 and under stores. There is only one true $1 store in our area, all the others have items that cost more than a $1.
There must be a mistake..
After all the consumer confidence numbers are up
Anyway, how can one store chain like Wal-Mart be an indication of consumer spending?
or McDonalds, for that matter.
I was kinda' sorta' hoping they wouldn't blame it on high gasoline prices, even in part.
Obama said evil speculators were to blame and even managed to get the per gallon price close to $3 (or below) just prior to the election, but there's only so much one man can do.
/s
Glad to do my part... I bought a couple of TP-LInk routers from Walmart and discovered they were both complete junk. I returned them and bought a couple of 3 year old Cisco routers off EBay and haven't regretted it for a second. Haven't been back to Walmart since. Walmart has pushed its suppliers too far. Instead of selling things which only last 3-6 months, they now sell things that don't work at all.
<sarc>
I'm sure stealth inflation has nothing to do with it...
</sarc>
Dont you know this creates money velocity! You buy something, they get the money, it moved, You take the item back and they give your money back, the same $20 has now moved twice.
You take that $20 and use it on EBAY and it has now magically moved 3 times through the system and all that for one measly product.
When the real velocity starts, as in china giving our paper back, then we will have a real idea what economic situation we are in.
I am rambling ;-p
Maybe this has just a litle something to do with it:
The Real Cost of Obamacare
In 2013, Millions Of Americans Face Obamacare Tax Hikeshttp://www.forbes.com/sites/sallypipes/2012/12/25/in-2013-millions-of-am...
Not seeing it here. One by my house was packed with people buying Cheetos and stretchy pants
Thanks. I really wanted to think about those fat asses in their stretchy pants eating Cheetos. Please burn that idea out of my head now...or just burn out my corneas.
Cornea replacements are a very costly treatment plan, so very stimulative! This is the "broken windows of the soul fallacy" in the new economics. You read it first here.
Yep, Cheetos are on rollback for $1.98, a great deal ! The stretchy pants make it easier to shoplift.... Buy one, steal 2 for free !
my coffee now comes in a special wal-mart size 24 ounce can as opposed to the 28-33 oz elsewhere
so i dont go there
their ammo prices were to high anyway
cheaper at xring(in de, not online)
People are checking their prices and finding out they can get better cheaper elsewhere.
spilled my coffee all over the place.
The Feds blame the meteor
It's gettin' real at the Whole Foods Parking lot, also:
Whole Foods Shares Sink on Sales Outlook
Whole Foods Parking LotThis Busters on his iPhone talking to his friends,
Picking up some cayenne pepper for his master cleanse.
You're the most annoying dude I've ever SEEN brah...
Could you PLEASE move? You're RIGHT in front of the Quinoa.
Damn, I'm about to check out.
Pay my 80 bucks for 6 things and get the heck out.
The express lane is moving hella slow...
Man, these fools don't know... that shit is getting REAL....
Good. Whole Foods is a hypocritical GMO "pretty-boy" organic wannabe. Stick to your food-coop and your farmers' markets
BTFD,YFI!
CLEAN UP!
In aisle...
[which aisle Jerry?] "Executive washroom."
Clean up in... Oh, never mind.
...and your garden
DaveyJones said:
But, but, but their beefberries were raised in Organic aquaculture tanks.
your toilet is an organic aquaculture tank
depending on what you eat
Dude you are just so bogus man. Whole foods is like really awesome organic food man.
They ain't awesome NO MO' ! ! !
Sorry for yelling. I am now calming myself. I've been on edge ever since they took Kombucha off the shelf.
no he didn't. gas was jacked up for monthe before the election and totally out of norms with crude. It dropped like a rock after the election.
No need to make shit up, there's plenty of reasons to hate everyone in the beltway and conspiracies galore too, without making shit up.
down arrows?
you no like facts
http://ycharts.com/indicators/gas_price
ramped up all summer, gave up a bit going into the election, bottomed out in December.
Like the oil companies gave a shit if Obama was elected, like he has any fucking sway with them, Bush, sure. Not even the Saudis like Obama and he is one of their own.
Don't sweat it j- trolls and idiots are alive and well, especially when facts piss them off.
Yo, j and will.i.work...you bitchez ain't got no facts
high oil pricies in 2008 = bush's fault
high oil prices in 2013 = not obama's fault
keep your head stuck up your messiah's ass
or McDonalds, for that matter.
MICKEY D's is not inexpensive any more.
The food is nasty, but other than the $1 menu, you can't touch a "value meal" for less than $7 - $10 if you super size it. So, trying to feed a family of 4 is going to set one back at least $30 -$40.
For that, might as well buy some shitty "fresh" food at Walmart and cook it yourself.
They have a new horsemeat-onion-cheddar edible food like substance for a BernankBux.
That can't spoil ... did I mention that?
~Herb Tarlek, WKRP Advertising Sales Manager, Cincinnati, Ohio.
Does that come with their delicious BP-Kraft style dressing?
MCD is coming up against high taxes and NOW labor costs plus food inflation..on a menu that has it margins on only the fixed price menu, not the polpular $1 items...pain is coming....
I work for a McDonalds here in Canada (I'm still just a teen in high school) but I've noticed that the managers have been getting really picky about food waste lately. Apparently our store's cost on most product has gone up at least 30% in the past year, and they tell me that margins are being pushed to their limits already. Price increases are certainly on there way at the Golden Arches.
Did you seasonally adjust and divide by the deflator FED? if you do everything is actually way under a dollar
Remember when a room at Motel 6 cost $6.00?
Pure Evil said:
The ammunition was one of the few American-made items you could still buy there.
If you can't buy ammo there, customers will go elsewhere in search of it, and probably pick up a few other things while they're at those other stores. Thus pulling ammo from the shelves is also impacting Walmart's sales of Cheez Doodles and Mountain Dew.
Texas-based, Frito-Lay Cheetos, FTW.
Serves the bastards right.
all the TULA is made in the USSR
"Thus pulling ammo from the shelves is also impacting Walmart's sales of Cheez Doodles and Mountain Dew."
And stretchy pants.......... :)
Right - Because companies should pay 10x the price to manufacture goods in the states rather than China. Wake up. Globalization is here .. like it or not .. eventually the difference in wages will be arbitraged away but it will takes decades ... a successful U.S. requires individuals with advanced education that can innovate and apply technology .. too bad our ever growing liberal policies have removed all incentive to study hard, work hard ... the USA is in a flat spin ... Rome is burning
Right - Because companies should pay 10x the price to manufacture goods in the states rather than China. Wake up. Globalization is here .. like it or not .. eventually the difference in wages will be arbitraged away but it will takes decades ... a successful U.S. requires individuals with advanced education that can innovate and apply technology .. too bad our ever growing liberal policies have removed all incentive to study hard, work hard ... the USA is in a flat spin ... Rome is burning
And you're not keeping up with the real world. Why do you think that call centers that used to be in Puerto Rico moved to India and then moved to Mexico and some are now moving back to the USA? Yep... the folks who were getting raped at each successive spot started demanding more money, and getting it, and the jobs moved.
And it's not all about labor costs. Call centers need to be able to be understood by the people who call in or the customers will just hang up and take the crappy product back to the store. (I've done this many times)
If you're shipping products made in China, for ex - you not only have to pay the help (except for the prisoners who essentially work for food), but then you have to pay to SHIP the stuff! Ships cost a LOT of money! Look into the numbers of those big shipping containers that go over the side and are lost at sea. Then you can run into dock strikes, customs delays, etc. and then you have to put the containers on trucks and move them to wherever they're going. So sometimes it actually gets cheaper to pay higher wages in the USA than to get cheap labor in China.
And I haven't been keeping up lately, but not all that long ago things made in the USA were PRIZED even overseas because of higher quality, durability, functionality, and the America worker could out-produce just about any other work force on the planet!!!
Store that live by the crap, die by the crap.
And speaking of crap - come on! Walmart expects people to buy Tyson "meat"? And all that GMO crap in the other aisles? People are wising up about that stuff! which is not to say we won't buy it - just that we need alternatives. We have a regional grocery store with some REAL choices of food... costs a bit more, but that's where we shop. (For good stuff, people ARE willing to pay more! Low Prices is not the be-all end-all of retailing!)
Don't know about Walmarts anywhere else, but about a year or so ago the Head Office apparently got themselves a cracker of a marketing exec!!! This annonymouse moron moved everything around in the stores (and reduced display space at the same time - JIT move? They were having fits of cash flow problems before the Big Shuffle...).
Whereas the chocolate used to be right up front by the cash registers (can we say "Impulse Merchandise" boys and girls?). Now it's somewhere in the middle of the store and, no shit, you have to actually LOOK for it!!! I've been losing weight ever since they hid the chocolate!
Another example - the "Beta" fish. (aka Siamese Fighting Fish. Don't know why they call 'em that. In my aquarium even the angel fish were eating them!) Now - those fish with the wavy fins and slow calming movements in their little globe bowls (for about $5) are a GREAT impulse item for kids!!!! "Mommie! Mommie! I want a FISH!!!" Those were moved from right on the main aisle by the pet food and on the way to the garden stuff RIGHT BY the toys, to an end cap in the back of the store facing the back wall and the dog food. Not a chance in Hell a kid is going to see them.
#1 - Walmart needs to return to Sam's rules of screwing AMERICAN producers of junk products instead of Chinese and etc.
#2 - Wally world needs to FIRE the ignoramous in charge of display and marketing and hire someone who actually KNOWS something about different kinds of products and coordinating the products with the traffic patterns of the different demographics of people who walk through their stores.
#3 - their inventory system SUCKS!!! As an accountant, I walk through stores and notice things. They have too much of this and none of that - to someone like me that kind of thing sticks out like a sore thumb. In in-store discussions with dept managers I learned that they have a COMPLETELY computerized inventory reordering system (kinda like a EOQ system but yet - NOT.) If the mgr is going to have a sale, can he order extra? Nope. He has to have the sale and run out of stuff, then because of high sales numbers, the next shipment he gets slammed with over-ordered merchandise he now (after the sale) can't move.
They seems to have gots themselves some DUMBazzes in the Executive suite.
The problem is with Americans, we want cheaper and cheaper products. Why are so many products on Walmart's selves made over seas?
I was just at WAL-MART [buying some 'Klondike Bars' ~ & a few other things, because I've found it hard to GROW Klondike Bars in the greenhouse]...
~~~
Anyway... The TOTAL comes to $28.74... [Whereby ~ I hand the cashier $30 joobux]... I glanced at the register and see CHANGE .26 cents... So I said, nicely, '.26 cents'?... I think 'something' clicked in her grey matter & she started doing this maneuver which involved scribbling down numbers in what looked like a receipt... When she was done, she reached in to the register & handed me $2.26 in change...
Without ado... I handed her back a dollar & said... "We'll call it EVEN"... I'm not sure whether or not she thought it was a TIP...
My hypothesis is that they handle EBT cards all day & hyperventilate when joobux are mixed into the equation... Sad news [to this], is it prolly means that your Jay Z [ROCK-A-FELLA] RFID chips are coming sooner than you think...
Note: Before you all get to junking my comment... The MORAL to this whole story is simply... 'THAT'S what francis _sawyer would do for a Klondike Bar'...
-1 for the ***bucks part ...
Some people think it's funny but it's green & white "paper" money.
FRNs or IOUs around here.
They put Andrew Jackson on the hundie.
Those jokesters.
They'll put Kng Midas on the next one
They put Midas on the $100 Quadrillion Tungsten Coin
As long as they don't change their presses when minting the future Krugmanrand*.
*Krugmanrand: A gold colored powder-coated round, composed of 10% tin and 90% nano-coated bullshit particles, bearing the slogan "In Diocletian We Trust" and "To Infinity & Beyond!" on one side, alongside "CTRL+P," and having the other side enscribed with "What, Me Worry?" alongside an engraved likeness of one Ben S. Bernanke (Shakey McShakester).
I thought the obverse of the Krugmanrand was Marvin the Martian.
"Oh goodie! My Eludium Pu36 explosive space modulator." or "Let's have no more mutiny."
how about a skittles shitting unicorn-or Beelzebub
or... JAMARCUS RUSSELL...
~~~
Note: Not many people will actually GET that unless they do a little study... [which would give you an indication of the 'clientele' these dayz]...
Walmart simply didn't get the "Everything is fine" memo.
Walmart sucks!
John Williams believes it's all about to come crashing down soon
http://www.youtube.com/watch?v=O8kBDUw45uY
Sales? Earnings? Profits???
What the hell does any of that have to do with the stock market?
Dont worry, in the next earnings announcement, they will blame Feb sales downfall to Feb having only 28 days...
Need a damn Leap Year to pull us out of this depression.
That's what saved GDP last year. </sarc>
I'm also waiting for JCPennys and Sears....
I'm wondering if I'll see this also at the other end of the Bonus Rainbow:
Yacht sales are up.....
Tiffany's 'one of the best years ever'....
BMW's record quarter...
Nothing would surprise me anymore !
Exactly! with this robust economy, who need to shop at Walmart anymore?
Here is some more to add to the pile of warnings.:
Hyperinflation WARNING: US Dollar In Deep, Deep TROUBLE...Prepare Yourself.http://www.youtube.com/watch?v=4zFf9bOsfA4
where is ADR? please come out and take a bow. you have been telling us this forever
That is part of what is going on. I stopped buying anything at WalMart when they equivocated on purchasing more ammo after Sandy Hook. I have not bought from them since. CheaperThanDirt also "reassessed" things after Sandy Hook, and they have not seen any of my business since then.
This is Sudden Death time for the Republic. I take no prisoners. And if they force a shooting war on us, it will be the same.
Walmart is still selling ammo, which means they are still buying ammo. The original report about Walmart stopping the sale of ammunition was incorrect: http://cnsnews.com/node/628115
Too late to stn d on principle. I stop at Walmart, Cabelas and anybody else i think that may have what I'm looking for. Th eone thing I can say for them is that they have not ramped their prices with the demand.
stupid = their customers?
Sam would've loved it. Make the guns and ammo section as big and deep as automotive or electronics and watch the money pour in.
Hear hear!
How about offering silver, gold, platinum, palladium, etc. in the gun section. It wouldn't take up any more space that a suitcase....and those of us who would NEVER shop at a Wal-Mart may even pick up a 48 pack of toilet paper on the way out.
Utah Walmarts have big long term food storage sections. I don't know why they can't expand that for the rest of us non-LDS preppers?
Utah Walmarts have big long term food storage sections. I don't know why they can't expand that for the rest of us non-LDS preppers?
Because Utah is a Mormon state, and Mormon's believe in prepping like no other groups.
IF the demand where there, they would,but Costco is cheaper for preppers.
I'd buy a 48 roll pack and dog treats! C'mon Waltons, PMs, guns, and ammo for the ZHers!
You took the comment right out of my keyboard.
Note to Wal-Mart: the three box limit is meaningless when the cupboards are always bare.
Our wally world finally got some 9mm in, bricks of 250...750 rds. put away wifes stopping by to pick up 3 more..they even had 7.62 finally
The ones around here (I check three on a regular basis) have nothing but birdshot and a few boxes of .17, .270 and .30-30. I've been laughed at for asking about .223. Same goes for Gander Mountain, Bass Pro, Dick's and local shops...
I'm starting to see some availability online, but at a $1+/round that ain't happening just to keep my stack level.
We only have four places to get ammo on the pennisula,sportsmans told me they're not even ordering any AR related stuff. wally world is now getting .223/7.62/.308 but you got to go in every morning and check. A bunch of retired guy's are buying everything up when they stock it in the morning. (they quit stocking at night because somebody stole a whole case of .223..
The three box limit was intended to give more customers a chance at buying some ammo. Before the three box limit, the sporting goods staff were telling me that there were people buying out the entire shipment of popular calibers.
Last Saturday, I was at the ammo case while it was being stocked. The three box limit was the only reason I was able to get some 9mm. Another guy that was there wasn't aware of the three box limit, and had intended to buy pretty much all the 9mm.
Ammmo is still considered a luxury expenditure. What you miss is that even with providing staples, like groceries, clothing and pharmacy, Walmart is having problems.
I have ranted before on how ammo has seen a +300% increase in prices in specific calibers. This hasn't happened all over the country, but a large portion. But the vast majority of shoppers do not go to Walmart to buy ammo. I don't need Walmart for that. In fact, I've increased my 22lr stock by 3000 rounds and my 308 winchester by 100 rounds in the last week. And I am in an area where Walmart does not keep a steady supply of ammo. I've had to go to other retailers.
But I still shop at Walmart for most of my groceries and day to day items.
I hear that I was there the other day to near empty ammo shelves, except for over-priced odd-ball calibers.
As Charlie Sheen would say, "sorry dude, i already got your vote"
Walmart shoppers are getting back in the market and buying equities.
Most wouldn't know what an "equities" is.
That's Latin for horse meat, right?
Those damn e mails... :-)
These thugs are probably trying to make a profit said an Obama spokesman
And there's your REAL fucking recovery.
Fuck you Obama, Bernanke and congress. You fucking shit filled walking tbtf bank vomit eating fucking pricks have fucked this nation into a festering shit bucket.
Fuck off a die you dicks.
wow. I thought i'd heard rants before, but that was a winner.
LongSoupLines is ZH's walstreetpro2. His lack of love for the banking elite is well documented. When their day of reckoning comes, I would like LongSoupLines to deliver their punishments.
LSL: We'd missed you on these threads. Please don't hold back. Tell us what you feel.
"Come the Revolution" LSL is going to be the one with the BIG gun!
China may well benefit (seeing as they already have quite a long wall), or for the elite, maybe Hadrian's Wall (UK) would be more appropriate (Bank of England and whatever!)
I fucking love you, ya soupy miserable fuck! I printed a copy of your avatar to carry in my wallet just in case I ever get arrested. Your likeness will comfort me in jail without all the dropping of the soap issues.
Fuck it, I've had enough to drink now. I need a 14 hour nap.
Cheers LSL!
"The company notes the end of the payroll tax cut by Obama and asks "We need to stop the stupid.""
Unfortunately, he's with us for another 4 years.,
Methinks this is really all about creating panic in the equity markets, so investors go running back to bonds. Specifically, the Powers-that-Be need the yield on the 10Yr UST to come down. Way down.
It's about creating the clamor for more stimulus spending. Walmart is in on it. Do you really think you are told anything that you were not meant to hear by the MSM and TPTB? Leaked email my ass.
they just took delivery of a new G6 though.
Poppin bottles in the ice, like a blizzard
Well the SNAP card users are still buying!
Higher fuel and home heating prices are eating up the SNAP cards too.
yeah, SNAP cards can only be used for food, nothing else, just food.
know yer meme when trollin'
that's what street barter is for
yes, there ARE more *cough* creative uses for the JPMplasticSwipes - but this notion that people are using SNAP cards for everything but food is just lazy repeating. . .
which is very popular here, so I'm not even sure why I bothered posting, lol.
face it aura, everybody's scammin & skimmin...it's the Amer-i-con Way.
indeed, and I acknowledged this in a post downthread - again, all I was pointing out is the difference between EBT and SNAP benefits. pointing this out to the WallyMart shoppers, the TBTF bank account holders. here.
doesn't matter tho' - none of it. matters.
true dat
don't mind me tip e. - been listening to the new mbv, loud, and realising that it might indeed be time to put my attention elsewheres.
breaking up is always hard tho' - *smiles*
In the Peoples Republic of Massachusetts they come with a cash option.
http://www.mass.gov/eohhs/consumer/basic-needs/food/snap/using-the-elect...
The .gov also found that Mass. was given $25 million tooo much for SNAP. We of course do not mind paying that back, its for the children.
and TARP is for the people who behave like children
I was curious, so I looked at your link:
your link was to the EBT card users, which can indeed be used for getting fiat from a machine. the SNAP card is limited to foodstuffs only, unless you're using DaveyJones creative thinking.
here's the link for your local SNAP rules:
http://www.mass.gov/eohhs/consumer/basic-needs/food/snap/snap-benefits-o...
if yer gonna hate, at least do it truthfully.
yep, had a grocery customer come through today my lane and used her SNAP card and had to pay another $3 for non-food items with a $100 bill and talking to her friend about going skiing this weekend with her friend.
I see all ages, males, females, all ethnicities with exception, possibly of asians, using the SNAP.
And you just keep on believin' that! People who use those cards have nothing better to do all day than figure out ways around the rules. They basically have a system of trade where the cards get used for the intended purpose and the value is transferred in some discounted form to other goods via cash.
You forgot to sarc/ your post. Shit man, in Chicago you can swap out EBT/SNAP for cash at the CBOT/CME.
Lullaby and goodnight, with roses bedight
With lilies o'er spread is baby's wee bed
Lay thee down now and rest, may thy slumber be blessed
Lay thee down now and rest, may thy slumber be blessed
Shhhh - sleep well my child. *pats head*
to all of you who took time out of your valuable posting day to "correct" and/or downvote me - all I was pointing out was that there is a difference between a JPMorgan SNAP food-stamps substitute card, and an EBTbankcard issued by TBTFprofiteers, which you can indeed get "cash back" on.
the qualifications are different - some folks can get SNAP and no EBT (which is used for payments such as unemployment benefits), some get both, whatever - and yes, both are subject to creative usage, just like paying taxes, calling in sick for teh jawb, cheating on yer partner, yadda yadda.
it's amrka, nothing is to be taken at face value, well understood.
ALSO,
Your GIG is up dudes!!!
Your produce is higher than most supermarket chains,(and crappier quality) and overall your food and meats are also.
also less selection, just the stuff that they can force a national brand to knuckle under and sell at deep discount.
They're always out of stock, have a 20 minute wait in their lines, and have legions of idiots working for them. At the end of the day, it costs about as much to shop there as at most grocery stores. It's not worth the slim savings to deal with them.
Chinese crap for us, good ol' American Iron for them.
This is like boxing where Walmart is on the ropes and Obama is about to finish Walmart with a min wage hike knockout
Don't worry, they can always go back to their suppliers and negotiate more price decreases. </sarc>
Min wage $9.00,YOU will never see that passed.(at least not until the econ does an about face,which WILL never happen on Grouco's watch).
Obama knows if it does, it kills even more jobs, and knocks more folks of the 40 hr week, and /or they lose any bennies they have.
if $9.00 will help people, why not $90/hr. or $900/hr. Help everyone! /s
Dittohead?
That would be a great comment except for that various studies indicate that average Walmart employees earn over the minimum wage hike.
In other words, a minimum wage hike, would hurt any worker (Walmart or not) that already earns above the hike level. Why, because those workers would essentially get a tax hike in the form of higher prices of goods.
Let's say the minimum wage is raised to $10/hour. And let's say you currently earn $11/hr. How does that benefit you? You have to ask/demand your employer raise your pay due to your experience, seniority, etc. But the fact is, most of these jobs are monkey jobs and the employer is not likely to budge.
Since you already earn above the minimum wage, you won't get a raise. But since businesses have to pay a higher starting wage, it gives them a reason to raise prices on goods. So in the end, you don't get a raise, but you have to pay more for basic goods. Workers get hurt.
If anything, maybe the fast food restaurant worker of clothing retailer at the mall might get see the raise. The rest of us will get the tax.
Just hand out MOAR EBT cards. Problem solved.
/sarc/
Bernankomics-- it's like the worst nightmare ever, except that you're awake.
With an assist from Timmmmay! and ObaMao!
weird, we're awake, but the government isn't
Sam Walton is flopping in his grave.
I agree. If he saw what his store and name have turned into he would flip to say the least. If you haven't seen any of these please sit back and enjoy 'people of walmart'. http://www.youtube.com/watch?v=rNzwgrtdBo8 If you really ever want to how bad it is find a 24 hour walmart and stop in at 2 am.
if you have an EBT card what is stopping you from living inside the 24 hour ones?
They don't provide mattresses yet
Head over to the camping section. I'm sure you can find what you need to live there 24/7.
I would only care that he is pissed off if it is because WM quit selling handguns. Which I think took place while Sam was still alive.
Money corrupts. Wal Mart will do whatever the govt wants them to do because of SNAP cards, illegals and importing Chinese crap. I am not a Wal Mart hater but all these big companies are the same.
The WSJ (crap paper now - they all are crap) had an online story about big WMT SuperMarts.
Jamie Dimon loads in the SNAP card money at Midnight - I think twice a month. At 12:01 am - the 40 registers start beeping at a big WMT with SNAP/WIC cards. Sick. Same with the crap fast food places like MCD and Taco Bell et all with mystery meat and food. It is just slime food for Obummer voters.
White House Unofficial Rebuttle:
https://www.youtube.com/watch?v=5NNOrp_83RU
did folks on extended unemployment bennies take a cliff dive ? Thank goodness for $5 gasoline just around the corner or this could get realy nasty.