As you know, WalMart has officially announced they are starting to close hundreds of stores across America.
We taxpayers already lost trillions of dollars bailing out the big banks, is WalMart next?
We talked about the smaller Hardware Stores being forced to shut down because of the Home Depot's and Lowe's stores. Many Mom & Pop stores were also forced to close because of the WalMart's everywhere.
So here we are Folks, what's next? My guess, On Line Shopping. Nevertheless, tens of thousands of jobs will be lost and you have to ask yourself, will the new minimum wage and Obamacare crush even more big box stores too? I can't wait to hear your thoughts.
12 comments:
This is why the H1 visa program has to be stopped. Americans need jobs first not illegals.
Less jobs, less tax revenue. What do you have to say to that Board Of Education?
8:19 H1 program is LEGAL, genius. Those LEGALS actually work hard and want to help the company they work for. More than I can say for the entitled working aged kids running around.
Mom & Pop stores were the staple of American retailing, especially in rural areas. They went the way of good customer service when the Big Box stores emerged.
At 8:56
I didn't say it was illegal. Ask the Disney workers how they feel about training their replacements. Totally illegal that's why Disney is being sued. They don't have to pay H1's benefits. That's why companies want to increase HI visas - for cheap labor.
Walmart is notorious for not giving benefits to the employees like healthcare or a reasonable amount of money in their paychecks. In fact, I recall there was scutter a few years ago with a Documentary called, The High Cost of Low Prices, specifically about Walmart, talking about how their employees exist on government assistance. In fact, some of the employees interviewed said their managers and supervisors taught them how to use the government system to get benefits while still retaining employment at Walmart.
If you look up when you approach the Walmarts in Salisbury, you'll see they have a multitude of cameras. You think it's for customer security but it's not. They're called the Union Package camera system - indicating that Salisbury W-marts have had problems in the past with employees wanting to unionize. Therefore, that camera system is watching its own employees because Walmart refuses to allow unions.
It also addressed the low pricing driving small business out of business and how some communities tried to fight their invasion.
Therefore, Obamacare and escalation in minimum wage is going to result in a lot more closures because places like Walmart do not like government intervention in anything to do with their business. (Remember Princess Anne's proposed Walmart Distribution Center that fell flat due to Maryland Legislatures trying to mandate regulations.) They have made it well-known they are intolerant and this is their way to sock it back to the government, but it ends up being to the workers' expense because of job loss with little options.
Walmart isn't going anywhere. Ever noticed the long term employees? The company is not the monster some think it is.
I think the oil companies and banks once more will get bailouts.
Another company is waiting in the wings to occupy every single WM that closes,with the exception of those that are in seriously bad areas or where the buildings are dilapidated beyond repair.Most will be surprised to see that company expand beyond their current big box operation and into per item retail.Stockholders have already received notice of expansion.
Big box store comes into an area, people celebrate the selection and "low prices" but complain when the local small businesses are pushed out.
Big box store closes, some people complain, and some people take advantage of the opportunity to start their own small businesses to fill the need.
1) Not a Wal-Mart fanboy but used to work for a local company that made some items for them; other USA divisions of our company made numerous items for them too.
They're tough on their suppliers but if you meet requirements there is lot of volume in the orders...which pays for our wages, overhead and profit.
2) Local big boxes carry way more items than independents did, and they also don't carry some stuff. No comparison between HD, Lowe's and C&P Hardware (which I liked).
3) When a national chain closes a store or unit either the unit has a profit or location problem, or the concept is foundering. Your local Arthur Treacher's Fish might be coining money but if concept is dying the supply chain supplying it with product, advertising, etc. will dry up and fold.
4) Most stores Wal-Mart is bagging are a newer concept with smaller stores and fewer items that were geared to areas with lower population. Overall, they must have been missing the mark; might still have been profitable but below levels requires to keep Wall St and your 401(k) mutual fund happy.
5) Wal-Mart employs an enormous number of people directly, in addition to suppliers' employees who benefit, like I did. None were kidnapped and forced to work there.
6) W-M has a mix of employees. Some are F/T and sole support. Most I know have regular jobs and moonlight for extra cash; don't need the benefit package. Or are students.
Multiple facets to the discussion.
Or can't afford their "benefits".
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