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How much do you suppose he (and another before him) walked out the door with AFTER running the business into the ground? Hint: a lot.
I don't see what that has to do with it, the case was about him misleading investors as to the financial condition of the company, not about whether he or anyone else ran it into the ground.
I may lament the fact that the big box stores have killed off smaller stores, and even my own business was partly a casualty of that, but I shudder to think of more government regulation of business. Competition is the name of the game and you either adapt and survive or they eat your lunch.
People obviously want what the big stores are giving them because that's where they are spending their money. If they want to trade the knowledgeable, helpful, but more expensive little guy for the faceless megacorp in order to 'save' a few bucks, that is their choice...and that is how it *should* be. You can't artificially prop up the other guys, that would just be another form of welfare. The masses are voting with their dollars.
I don't see what that has to do with it, the case was about him misleading investors as to the financial condition of the company, not about whether he or anyone else ran it into the ground.
It goes toward what his "modus operadi" of management style was. Kmart in Bangor had employees who worked full-time since it opened in the early 1970s. They were offered health insurance at a reasonable cost to them, and it was a pleasant place to work. When the other store moved in across the way, the business was siphoned off slowly until it became 'good' that Kmart's sales were down by only 25% or so for that month. The down side continued to go up. Okay, big fish little fish - I totally get that; however, many managers were asking very legit questions about what was coming "down from the top." They were largely ignored.
They remodeled the store, they offered pharmacy (until they realized that it wasn't cost effective and closed it) etc, etc, etc in order to compete. Long-term employees were asked to take a cut in pay and benefits. They may have grumbled, but they complied because they wanted to keep their jobs and not end up on welfare. See the connection? I'm not trying to incite a riot here, I'm just pointing out that unchecked capitalism isn't the end all be all either. There has to be balance. Btw, the last I knew there was only 1 or 2 originals that still work there.
I worked there in the 1980s. On payday, I was handed an envelope of cash once a week. Now it's biweekly checks. Okay, whatever, hold someone's pay for a week and earn a little interest on it. I get it. It costs to do business - I understand this. I'm not adverse to all business practices, but I am adverse to those who pretend to be interested in running a business for "the good of the company," but ultimately ram it into the ground and don't care when they bail with their golden parachutes. Let's face it. It happens just as much as some yahoo living on the dole.
It used to be a clean, well-stocked store with each employee assigned an area to maintain, and they were generally maintained very well.
Go in there now, and there's a handful of employees asigned to either hardlines or softlines (clothing etc.).
I may lament the fact that the big box stores have killed off smaller stores, and even my own business was partly a casualty of that, but I shudder to think of more government regulation of business. Competition is the name of the game and you either adapt and survive or they eat your lunch.
I agree. What I don't agree with is all of the griping about welfare when in reality, there isn't much out there because we want low prices. Okay. We have low prices. We also have high welfare costs. Where have we saved? I hear the "If you can't feed 'em, don't breed 'em" which I do agree with to a certain extent; however, what about the ones that could breed them just fine before unchecked greed caused their businesses to become "too big to fail?"
Do I want the government telling me that I have to wear a seatbelt, can't have trans fats, blah, blah, blah? Hell no. So why is it that they come after me when highway robbery to the tune of Enron, Bernie Madof, Wall Street et. al. is allowed under the veil of "capitalism?"
People obviously want what the big stores are giving them because that's where they are spending their money. If they want to trade the knowledgeable, helpful, but more expensive little guy for the faceless megacorp in order to 'save' a few bucks, that is their choice...and that is how it *should* be. You can't artificially prop up the other guys, that would just be another form of welfare. The masses are voting with their dollars.
Well, give the people what they want I say.
I just don't want to hear the same people crab about the cost of providing people with welfare. All things are relative to me. That package of toilet paper that used to be made in Maine now may cost me 50 cents less if it's made in China, but my income taxes went up $5.00 to help pay for the cost to retrain the paper company worker who used to make it (no, I have no actual costs statistics - I'm being anecdotal).
I have always tried to support small business whenever I can. Unfortunately, my pool from which to choose has grown smaller and smaller. Let's see, is there even but a handful of independent pharmacies anymore? Hardware stores? Electronics stores? Banks? Eyewear providers? Gas stations are feeling the heat of Sam's Clubs. Clothing shops? How about independent grocers?
Back in the 1950s, a little store managed to open in a town that had a rule against giant stores crowding out little stores.
That rule enabled the little store to gain a foothold, prosper, and grow.
Eventually that little store became the Walmart chain.
That sir is a myth. Having worked for a company that did millions a year with Wal Mart and having meet the original Mr Sam Walton I can also tell you he never ate babies either. He did work 24/7 and built his one little store into a empire. The store now is not the same as when he was alive that I will grant you. But the way they got to be the size they are is due to one very hard working man.
FYI did you know Mr Walton started with a trucking company he used to run chickens..
How much do you suppose he (and another before him) walked out the door with AFTER running the business into the ground? Hint: a lot.
Ok that has NOTHING to do with anything I asked or commented on. This article is about a thief and had ZERO to do with the topic at hand. IF you follow the logic that a business that has a leader steal should be outlawed then you would close over half the companies in Maine because almost every one has a thief or two working there. But again that has nothing to do with a legal business making a legal profit. If you care to address the actual topic I would be happy to give my rebuttal.
I just don't want to hear the same people crab about the cost of providing people with welfare. All things are relative to me. That package of toilet paper that used to be made in Maine now may cost me 50 cents less if it's made in China, but my income taxes went up $5.00 to help pay for the cost to retrain the paper company worker who used to make it (no, I have no actual costs statistics - I'm being anecdotal).
I have always tried to support small business whenever I can. Unfortunately, my pool from which to choose has grown smaller and smaller. Let's see, is there even but a handful of independent pharmacies anymore? Hardware stores? Electronics stores? Banks? Eyewear providers? Gas stations are feeling the heat of Sam's Clubs. Clothing shops? How about independent grocers?
We reap what we sow.
I am with you 100 percent I to always TRY to support the local guy. I just moved and I called the LOCAL guy to put in my new sat dish they where not even listed on the companies website. The fact is though I went local in this case for TWO reasons one to support them but also because it did not COST ME MORE.. I am above all else cheap frugal or whatever you may call it. I don't want to pay out anything I don't have to. If making a big purchase I check the net call all the stores and go with the best price I can get.
Supporting the local guy is a great sentiment but the reality is if the local guy is charging more then the other guy the other guy gets the money. I hate to point out the fact that this is the way the majority feels. If the majority of people said buy local and really stuck to it then allot more people woudl be broke.
As a former small business owner in Maine it is hard here. Lucky for me I had no competition in the field I was in but even still support was not as high as I had thought it would be and three years in I closed up shop. that is life. You fight to survive and you either make or your don't. The KEY is that you do not give up and fight on. I collected ZERO welfare in my life. there where times when I am sure I could have qualified but having morals and self standards I woudl never take it. I woudl rather work and that I have done my whole life.
In short the better one does the more some look at them with disdain all the while trying to achieve what the people they disdain so much have. Bill gates is a rich man what some might call filthy rich. The fact is he earned every dollar he has. You woudl support the goberment stepping in when he reached say 20 million and saying sorry MR Gates but you have reached you limit you are not allowed to make any more money? He would have stopped working and all our computer would be far worse off for it imho.
My point is this is America the greatest country in the world and we who live in Maine live in the greatest state in that county ( sorry I have allot of state pride ) and we support a free market one of the things that make us great. If you begrudge someone for what they have or achieve then you are the one with a problem. Instead of hating them for having what they do or have look at it as a greatness of this country where ANYBODY who works hard and with a little luck of course makes it big. This is not something to look down on this is something to show our kids and say look this is what America is. The freedom to have the CHANCE to do whatever you want. If you choose to just get by or if you choose to buy the mansion on the hill you can do either if your willing to EARN it. America is great but putting a limit on what one can achieve in any aspect of there life is not what we are. Sorry for the long rant.
That sir is a myth. Having worked for a company that did millions a year with Wal Mart and having meet the original Mr Sam Walton I can also tell you he never ate babies either. He did work 24/7 and built his one little store into a empire. The store now is not the same as when he was alive that I will grant you. But the way they got to be the size they are is due to one very hard working man.
FYI did you know Mr Walton started with a trucking company he used to run chickens..
Sam Walton was a fantastic example of a responsible businessman.
When the store in Bangor opened "Made in America" signs dotted the walls throughout. He took pride in bringing goods to people at reasonable costs. He worked with his employees, valued their opinions, and considered them truly a part of "the team." Then he passed away.
I'm reasonably sure that he spins in his grave at what Wal-Mart's become today.
when reading the post here i can understand the anger and fustigation about people who just sit on welfare and do nothing but eat up the system who do not need and should not get it in the first place along with every person who has not been in maine or any other state for that matters for least 5 years are not allowed to get on any type of welfare program and if you move here from another country you should not be allowed any programs intill you become a citizen of the this country ..if a member of your family does a crime you go off the welfare program and you not allowed back on it ever ..you have three years to get togerther and after that you have to get off and not allowed back on it for 10 years..inless your have a medical condition that say you can not do anything .. ..so that part i understand whole thing about that part..
iam 51 years old and just retired from my job on a medical and been to many a job fair in the area where i lived for my old job and i saw 100s of people looking for work and not a lot of work beening offered to people and the jobs that do come are that are temp and people are lineing up by the 100s for them also the companys where beenig really chosey about the people that they where looking for and if did not fit the profile they where looking for it ..your remuse goes into file 13 and they are not looking for this person or that person..i watched a lady tell guy who had the right degree for the job but was in the over 40s crowd that they where not hireing but when a kid come up with was just out of college talk them they where offering the kid the job but for 8.oo dollars the legal minium wage out here in ca for job that should have paid a basic wage of $.16.oo dollars to 25.oo dollars a hour as basic starting pay..plus a lot of companys are takeing advantage of the socalled lack of jobs to hire people at a lower wages out here in ca ..
they where caught on video a couple of times talking to diff job seekers in diff ages groups and you see that the way they where talking to the older workers that you had no chance to get the job .. ..the thing is there is no jobs that i can see right now ..
i think we need to go back to the old CCC work programs for people and put people back to work on diff projects that needs to be done and if a person is not willing to do the work then they go off the program and get no help whats so ever in way of any programs for there familys..
Maybe I'm a bit old-fashioned or touched, but i have a real problems with the phrase "there are no jobs"
Economies go in cycles, and yes, at times, the supply for jobs (particularly specialized jobs/careers) are lower than the demand, but my god folks, we all have/had grandparents/great grandparents that went thru the depression, could barely feed thier (often many) kids-hand me downs were a way of life, and an occassional "treat" was an ice-cream or maybe a movie-
Millions of folks waited in lines for days to get ANY paying job at all just to feed thier family.
Jobs are out there-yes, many may not be 15-20.00 an hour jobs- but most entry level jobs are "foot in the door" jobs, if you are productive, reliable and professional, you WILL advance
Most Mcdonald managers/owners have worked thier way up- I've witnessed personally- 100 of entry level jobs leading to decent paying careers.
We all complain about the work ethics of "kids" today or of poor customer service- most are in entry level jobs- so again, if someone is ambitious, they will stand out.
Just in the past 6 months, I've had 5 guys and one woman in town "market" for either cleaning, or yard clean up, painting etc- I hired one fella for a small job, in his small brochure he mentioned "free estimates" and the first hours work is free (minimal 4 hrs )
first of all, he looked professional, didnt have 6 earrings in his face- he stated he lost a very good job, months ago, and "didnt know what to do" so, he's making his own path
he stated he is now "backed up" for 3 months (and has plowing,shoveling jobs/roof clearing)work-he even makes food deliveries for some elderly folks, but they like him and pay him well
Another fella in town, went door to door to give an estimate on mowing the lawn,(my lawn) and said, if he hires me for over 5 jobs, again the first one is free.
I found this delightful, i threw my back out a while ago, and i called him-
any good salesman/woman not only knows they are selling a service, but selling themselves.
and once they sell themselves- i believe they got it made
I also got a small local advertising brochure the other day, abouta local small engine repair, and FREE pick-up and delivery back to the house
what a great idea- many folks dont have a truck- but have a snowmobile/atv
I still believe in the american dream- you reap what you sow- you may have to be a bit more creative, but opportunities are still out there.
I started on a lobsterboat and a slaughterhouse, two very tough physical jobs, (and undesirable)
I took a third job as a clean up kid at a supermarket in the meat department-again a very messy and menial job- Then the doors started opening- and even back then "there were no jobs"
If i had a poor defeated attitude- I would still be poor and defeated
i think we need to go back to the old CCC work programs for people and put people back to work on diff projects that needs to be done and if a person is not willing to do the work then they go off the program and get no help whats so ever in way of any programs for there familys..
But....that would mean we are in another great depression!
I myself am an insulin-dependent diabetic and can't do most physical type of labor. Also am on unemployment for at least two more months(unless Congress passes another extension, which I doubt will happen). So, unless I move somewhere else to find work I can do, I am going to have to apply for welfare. First time ever, for me.
But....that would mean we are in another great depression!
I myself am an insulin-dependent diabetic and can't do most physical type of labor. Also am on unemployment for at least two more months(unless Congress passes another extension, which I doubt will happen). So, unless I move somewhere else to find work I can do, I am going to have to apply for welfare. First time ever, for me.
I used to know a woman who was insulin dependent, I helped her start a restaurant. She worked from 5AM to Midnight, 6 days a week. We never discussed it, so I guess my question is, are there different levels of dependency? She seemed to act as though it were just an inconvenience. I'm curious because I don't really know much about it.
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This article is about a thief and had ZERO to do with the topic at hand. IF you follow the logic that a business that has a leader steal should be outlawed then you would close over half the companies in Maine because almost every one has a thief or two working there. But again that has nothing to do with a legal business making a legal profit. If you care to address the actual topic I would be happy to give my rebuttal.
