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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..
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.
.........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.
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
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..
If they can only survive by being merciless about minimal pay and benefits and punitive employment terms, then IMHO they can go die in Wall Street's gutter. On a cold night, with a broken leg.
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