WalMart gives some profits directly to hourly workers; DU sneers

[BannedFromDU]

Lucky Luciano  (1000+ posts) Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Thu Mar-19-09 05:44 PM
Original message
Wal-Mart Hourly Workers to Get $2 Billion in Bonuses
   
Source: Bloomberg

By Chris Burritt

March 19 (Bloomberg) -- Wal-Mart Stores Inc., the world’s largest retailer, plans to award $2 billion this year to U.S. hourly workers in bonuses, profit sharing, discounts and 401(k) and stock-plan contributions after sales jumped in the recession.

Payments to employees include $933.6 million in bonuses today, spokeswoman Daphne Davis Moore said by phone. Workers will also get $788.8 million in profit sharing and 401(k) contributions this year, Chief Executive Officer Mike Duke told workers in a memo.

Wal-Mart recorded its biggest sales ever in the fourth quarter, boosting revenue in the year through January by 7.2 percent to $401.2 billion. U.S. comparable-store sales jumped 3.3 percent last year as the Bentonville, Arkansas-based retailer sold more groceries, $4 medicines and flat-panel televisions to consumers pinched by the recession.

Wal-Mart fell 44 cents to $50 at 11:57 a.m. in New York Stock Exchange

Idiots

The Stranger  (1000+ posts)  Journal  Click to send private message to this author  Click to add this author to your buddy list  Click to add this author to your Ignore list      Thu Mar-19-09 07:07 PM
Response to Reply #2
27. It is about ANTI-UNION acts and BUSTING THE UNIONS.
   
Jesus Christ on a Popsicle Stick, people.

Wal-Mart is all about busting the unions.

apnu  Donating Member  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Thu Mar-19-09 05:47 PM
Response to Original message
1. The catch is Wal-Mart wants a new image
   
'Cuz they know when the recession is over, their customers will go back to supporting businesses that give a damn about their employees and communities.

     See, a corporation giving profits to its workers is downright un-American. Why, we all know that THE GOVERNMENT is the only entity that should be giving money to people.

     I find it hard to believe that NOT ONE DUMMY works at WalMart.

[Texacon]

Oh they work there.  They just use code words like "I won't say WHO I'm a manager for (yeah, their all managers) but it is one of the top 3 retail stores ....."  Or some such.

Yeah, there are several who work there and 90% of them shop there but either don't admit it or have some lame ass excuse as to WHY they are FORCED to shop there.

KC

[rich_t]

Walmart frequently gives out annual bonuses to their workers.

I believe my daughter has received one every year she's worked there.

[BannedFromDU]

Walmart frequently gives out annual bonuses to their workers.

I believe my daughter has received one every year she's worked there.

     If WalMart was EXACTLY  the same as it is now, but the headquarters was in Vermont and the founders were a couple of hairy hippies, DU would have no problem with it whatsoever. It burns their asses that a company based in the South has grown into a behemoth. That's all there is to it.

[rich_t]

     If WalMart was EXACTLY  the same as it is now, but the headquarters was in Vermont and the founders were a couple of hairy hippies, DU would have no problem with it whatsoever. It burns their asses that a company based in the South has grown into a behemoth. That's all there is to it.

Good point.

[Texacon]

The only problem I have with WM is how they treat their vendors but the market does as the market wills.  If you are into reading, look up wal-mart vs. vlasic pickles.  Very interesting and a real eye opener to how wal-mart functions with their vendors.

KC

[BannedFromDU]

The only problem I have with WM is how they treat their vendors but the market does as the market wills.  If you are into reading, look up wal-mart vs. vlasic pickles.  Very interesting and a real eye opener to how wal-mart functions with their vendors.

KC

     They beat the shit out of their vendors and pass the savings along. It's HELL to be a WMT vendor. You'd think the DUmmies would love paying lower prices at the expense of behemoths like Heinz, P & G, and so forth, but no. They'd rather pay Mom & Pop prices, not knowing that Mom & Pop get raped by the wholesalers. Oh well.

[BlueStateSaint]

     If WalMart was EXACTLY  the same as it is now, but the headquarters was in Vermont and the founders were a couple of hairy hippies, DU would have no problem with it whatsoever. It burns their asses that a company based in the South has grown into a behemoth. That's all there is to it.

One of the reasons they love Ben & Jerry's Ice Cream.

[BannedFromDU]

One of the reasons they love Ben & Jerry's Ice Cream.

     That was the idea.

[Happy Fun Ball]

The Stranger  (1000+ posts)  Journal  Click to send private message to this author  Click to add this author to your buddy list  Click to add this author to your Ignore list      Thu Mar-19-09 07:07 PM
Response to Reply #2
27. It is about ANTI-UNION acts and BUSTING THE UNIONS.
   
Jesus Christ on a Popsicle Stick, people.

Wal-Mart is all about busting the unions.

He says that like it's a bad thing.

[terry]

The Stranger  (1000+ posts)  Journal  Click to send private message to this author  Click to add this author to your buddy list  Click to add this author to your Ignore list      Thu Mar-19-09 07:07 PM
Response to Reply #2
27. It is about ANTI-UNION acts and BUSTING THE UNIONS.
   
Jesus Christ on a Popsicle Stick, people.

Wal-Mart is all about busting the unions.

He says that like it's a bad thing.

Really, that just cracks me up.  If a company treats its employees poorly the response is "OMG!!!! That evil company, those folks need a union.  EVIL CORP!!!
If a company treats its employees well the response is "OMG!!!! They're just doing that to bust the union. EVIL CORP!!!"

[BannedFromDU]

He says that like it's a bad thing.

     Dear WalMart Employee:

     Thanks to the hard work of all of our associates, we are growing our business even in a dark and challenging economic environment. We are proud that our job losses have been strategic rather than economic in nature. Please find enclosed an annual bonus,which represents workers' shares of our profits.

     For those interested in unionizing, please circle one of the following:

     A. Yes, I would like to unionize, and therefore send a healthy portion of this check to a group that will use the proceeds to ensure that (i) the Union Country Club is properly maintained*, (ii) Union management makes at least as much money as executive management, and (iii) you will have an extra $5 in unemployment benefits in the event that WalMart lays you off.

     B. No, I prefer to receive profit shares for my relatively unskilled, hourly job, and I do not wish to send money to Union management. Also, I wish to receive a similar check next year.


     * - Union members attempting to enter Country Club property will be prosecuted to the fullest extent of the law.


     Thanks and regards,

     WalMart

[miskie]

The DUmmies hate the free market. Its simple, really.

If Walmart treats its employees like crap for low wages, nobody would work there - slowing or stopping company expansion. Market Darwinism.

If Walmart overcharges for its goods, people wouldn't shop there - which would destroy it (see Circuit City) - again - Market Darwinism.

If Walmart refused to give its vendors a fair price for bulk sales, they would find another buyer. Once again, Market Darwinism.

Thats the way it is with all businesses, (save for the ones that are now getting tax-payer funded welfare checks) if it doesn't meet the criteria to generate sales, it fails.

[rich_t]

The DUmmies hate the free market. Its simple, really.

If Walmart treats its employees like crap for low wages, nobody would work there - slowing or stopping company expansion. Market Darwinism.

If Walmart overcharges for its goods, people wouldn't shop there - which would destroy it (see Circuit City) - again - Market Darwinism.

If Walmart refused to give its vendors a fair price for bulk sales, they would find another buyer. Once again, Market Darwinism.

Thats the way it is with all businesses, (save for the ones that are now getting tax-payer funded welfare checks) if it doesn't meet the criteria to generate sales, it fails.

Capitalism in a nut shell.  Excellent post.

[Carl]

The DUmmies hate the free market. Its simple, really.

If Walmart treats its employees like crap for low wages, nobody would work there - slowing or stopping company expansion. Market Darwinism.

If Walmart overcharges for its goods, people wouldn't shop there - which would destroy it (see Circuit City) - again - Market Darwinism.

If Walmart refused to give its vendors a fair price for bulk sales, they would find another buyer. Once again, Market Darwinism.

Thats the way it is with all businesses, (save for the ones that are now getting tax-payer funded welfare checks) if it doesn't meet the criteria to generate sales, it fails.

Exactly! H5

[Duke Nukum]

When did the unions ever give a bonus to the workers who pay dues?

[SSG Snuggle Bunny]

I find it hard to believe that NOT ONE DUMMY works at WalMart.

Wal-Mart will hire special needs employees...

...but they have to draw the line when it comes to people in a persistent vegetative state.

[Texacon]

Really, that just cracks me up.  If a company treats its employees poorly the response is "OMG!!!! That evil company, those folks need a union.  EVIL CORP!!!
If a company treats its employees well the response is "OMG!!!! They're just doing that to bust the union. EVIL CORP!!!"

Actually, when you think about it they are pretty consistent in this arena.

They think the gov't can spend their money better than they can so don't mind paying taxes.

They think the union can spend their money better than they can so don't mind paying union dues.

Basically the DUmmies have realized that EVERYONE can spend their money better than they can!

 

KC

[AprilRazz]

One of the reasons they love Ben & Jerry's Ice Cream.

As I grew up and matured and realized that the conservatives were the ones that were on my side I gave up buying a few things because I didn't like their political stance.
With that said Ben and Jerry's was the hardest to give up. For a couple of dirty hippies they did make some really good ice cream. 

[Vagabond]

As I grew up and matured and realized that the conservatives were the ones that were on my side I gave up buying a few things because I didn't like their political stance.
With that said Ben and Jerry's was the hardest to give up. For a couple of dirty hippies they did make some really good ice cream. 

Find yourself some BlueBell Ice Cream.  It's made in Texas and tastes better than Ben & Jerry's.

[BlueStateSaint]

As I grew up and matured and realized that the conservatives were the ones that were on my side I gave up buying a few things because I didn't like their political stance.
With that said Ben and Jerry's was the hardest to give up. For a couple of dirty hippies they did make some really good ice cream. 

I've switched to a lot of the local brands here--Stewart's Ice Cream Company here in Saratoga Springs is decent.  I worked in the freezer there about 18 years ago.

[Wineslob]

He says that like it's a bad thing.

Of course it is. Union workers make, what, $20+ an hour, but the DUmmies neglect to point out that the DUES reduce that slightly. Besides, why would Wal-Mart want employees who do nothing but look for grievances all day??

OTOH our company was apporached by Wal-Mart, and, considering that they wanted to dictate what we would charge them for our product (at a loss) we politely said 'no, thank you".
Pretty easy DUmmies.