steveh_131
Grandmaster
BehindBlueI's said:So why haven't they raised prices?
Because they lowered wages back down! They raised them in one area then lowered them elsewhere. They ate the Big Mac then yakked it up on the sidewalk.
BehindBlueI's said:So why haven't they raised prices?
Because they lowered wages back down! They raised them in one area then lowered them elsewhere. They ate the Big Mac then yakked it up on the sidewalk.
This sounds like occupy Wall Street sort of thinking.
This sounds like occupy Wall Street sort of thinking.
Since it accused the owners of greed despite the fact that they probably pay more taxes than all of their employees combined and despite the fact that they have created jobs for these people who apparently have few marketable skills (why else would the work there?) and implies that the rich are the problem in the country and that the moral poor are the backbone, I'd say more Marx or Lenin, but yeah, more recently OWS.
BehindBlueI's said:So why don't they raise prices to increase profit? They just decided they are making enough?
Because raising prices doesn't always increase profit - and in this case, it would not.
Are you arguing with some imaginary guy who thinks that any company can raise prices at any time to make more money?
Because raising prices doesn't always increase profit - and in this case, it would not.
BehindBlueI's said:Nope. Arguing with everyone who said raising wages results in increased retail prices.
I don't know the numbers, we'll have to wait until things even out before we'll see the total damage caused by this. Of course, there may be some increase in profits thanks to a potentially improved customer service because of their ability to hire better employees. But again, this benefit would be void if every retailer was forced to pay more, in the form of higher minimum wages.BehindBlueI's said:Real quick, did the layoff equate to the pay raise? Are you arguing that total wages organization wide stayed the same?
BehindBlueI's said:Profit wouldn't go up because market share would go down. Again, an agreement that even Wal-mart cannot simply dictate market price. Yet somehow if their overhead goes up they now gain that ability? Do tell.
Ok. Do you think it's good for the economy or for society for more and more of the wealth to be in fewer and fewer hands? Occupy was to simplistic, but solutions will need to be found.
Right after the Walton family, who's wealth equates to the combined wealth of the bottom 42% of the US, cut back on their take. Anyone who wants to get to their levels of wealth just needs to work harder, or so I've read on INGO. In the mean time we can ask the bottom wage earners to keep kicking in more and more to support other low end wage workers...right?
Walmart to close 269 stores, shut down 'Express' format
Walmart (WMT) will close 269 stores around the world in a strategic move to focus more on its supercenters and e-commerce business, the company said Friday.
The closures include 154 U.S. locations, encompassing Walmart's entire fleet of 102 'Express' format stores, its smallest stores that have been in pilot testing since 2011. Some supercenters, Sam's Club locations and Neighborhood Markets will also close, plus 115 stores in Latin American markets. The closures were decided based on financial performance and how well the locations fit with Walmart's broader strategy, says Greg Hitt, a company spokesman.
I work for Walmart. The past few years they talked up the Walmart Express as the next big thing at our meetings. Lately it's about competing with Amazon.