U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 04-19-2019, 07:03 PM
 
23,449 posts, read 9,425,640 times
Reputation: 11269

Advertisements

Quote:
Originally Posted by Quietude View Post

Not a clue. The gross was around 10%. ?
2.5x retail
Rate this post positively Reply With Quote Quick reply to this message

 
Old 04-19-2019, 07:29 PM
 
Location: Aurora Denveralis
8,717 posts, read 4,084,864 times
Reputation: 13397
Quote:
Originally Posted by BobNJ1960 View Post
2.5x retail
X $Billions. Your point?

We were only a paltry $4-5M
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-19-2019, 07:41 PM
 
23,449 posts, read 9,425,640 times
Reputation: 11269
Quote:
Originally Posted by Quietude View Post
X $Billions. Your point?

We were only a paltry $4-5M
OK, you were not nearly as successful. Wal Mart began with one, tiny store.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-19-2019, 09:32 PM
 
3,927 posts, read 2,433,159 times
Reputation: 8783
Quote:
Originally Posted by Quietude View Post
X $Billions. Your point?

We were only a paltry $4-5M
Don’t take this the wrong way, because what you’re saying is great for the stakeholders. I’m glad you ran a successful business for your family and the employees.

But you were a small business operating in a niche space in a localized area with other small competitors. That’s actually a competitive advantage that can be sustained because you can cut down turnover costs, retain employees longer, and have them serve your customers better.

In the words of Kevin O’Leary, you would have been crushed like the cockroach you were if you ever would have grown and tried to take margin of substance. Your ideals can’t exist in low margin businesses loaded with competitors like what a Walmart sees. Their workforce is interchangeable into other areas of retail. They’re competing nationally against other competitors loaded with resources. They wouldn’t have a competitive advantage by paying billy $4 an hour more and giving him extra special training on how to stack up soup cans. And public companies have shareholders that demand a maximized return. You think a ceo is going to stand there and tell them yeah keep your money with us so we can pay our employees well over market for little to no creation of value?

It’s real great you did what you wanted by reducing your profits. But...when you have investors risking their capital...and with the ability to take that capital elsewhere, the tightrope is harder to walk on.

In fact, i think it was Sam who said “there’s only one boss. The customer. And they can fire everyone from the ceo on down simply by taking their money somewhere else.”

Well, the customers didn’t take their money elsewhere and neither did the shareholders.

Last edited by Thatsright19; 04-19-2019 at 09:50 PM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-19-2019, 09:56 PM
 
23,449 posts, read 9,425,640 times
Reputation: 11269
Quote:
Originally Posted by Thatsright19 View Post
. They wouldn’t have a competitive advantage by paying billy $4 an hour more and giving him extra special training on how to stack up soup cans. .
Amen. Retails job, like Amazons, is to reduce the cost of distribution from producer to customer as much as they can, as they are just middlemen.

Wal Mart & Amazon are the best at it.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-19-2019, 11:55 PM
 
Location: South Carolina
2,865 posts, read 1,903,822 times
Reputation: 1863
Quote:
Originally Posted by John-UK View Post
Look around you. Things need to be done everywhere. Pavements, parks built and maintained, street tramways, urban underground metros, etc. I could get everyone fully employed.

Those jobs are already being done and in the future they will be done by robots.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-19-2019, 11:58 PM
 
Location: South Carolina
2,865 posts, read 1,903,822 times
Reputation: 1863
Quote:
Originally Posted by BobNJ1960 View Post
Then they can start to do all those jobs liberals say we need illegals to do, since Americans won't.

After all, they have the same skill sets illegals do.

Do you know why they have to get illegals to do that jobs because they offer low wages, no benefits and many times those jobs are seasonal.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-20-2019, 09:40 AM
 
Location: North Idaho
25,294 posts, read 33,250,370 times
Reputation: 52213
Quote:
Originally Posted by Quietude View Post
.........WM is infamously cheap in pay and working conditions ........

This is one of those self-righteous urban myths that won't die.


Walmart pays as much or more than the other retail stores in the area (except for Costco), and often has better benefits.


Target is the darling of the Progressives and they don't pay a cent more than Walmart does, and they sell exactly the same Chinese made stock. Walmart has the same working conditions, same break room plus an outdoor smoking area that other stores don't offer.


Walmart is the only store that hires the un-hire-able to be greeters, so that a handicapped person who otherwise would not be able to get job has a paycheck. No other retailer does that.


Walmart pays a higher rate for their truck drivers that any other comparable job.


I see the payslips. I see the hourly wage and the benefits in print and not pulled out of the ether. I see how much Walmart donates to local charities. They aren't any worse than any other business in the area.


And, a different topic, but Walmart does sell American made goods when they can get them.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-20-2019, 09:48 AM
 
7,024 posts, read 2,089,849 times
Reputation: 12105
Quote:
Originally Posted by Quietude View Post
No, but trying to get past Mama and her six snot-nosed kids all cluttering up the self-checkout exit can be.
Be nice to her six snot-nosed kids - they are the ones who will change your diapers when you're in the old folks home.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-20-2019, 09:54 AM
 
Location: The Triad (NC)
31,174 posts, read 68,162,272 times
Reputation: 37019
Quote:
Originally Posted by Thatsright19 View Post
In fact, i think it was Sam who said “there’s only one boss. The customer.
And they can fire everyone from the ceo on down simply by taking their money somewhere else.”
Well, the customers didn’t take their money elsewhere and neither did the shareholders.
Don't forget the rest of the story: the decimation and elimination of their competitors.

Quote:
Originally Posted by oregonwoodsmoke View Post
This is one of those self-righteous urban myths that won't die.
Walmart pays as much or more than the other retail stores in the area...
You say that as though being best of the worst is somehow a GoodThing.

Along the way of decimating their competition...
their methods also supported the decimation of most Food & Commercial Worker union jobs.
This is HOW what's left of "choice" is really no choice at all.

Last edited by MrRational; 04-20-2019 at 10:09 AM..
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top