Have you guys watched or read anything about Walmart business practices?
I'm not talking about working
at Walmart.
I'm talking about the companies that Walmart does business with.
(Or puts out of business, to be more accurate.)
Remember when Walmart had all the "Buy American" signs?
Those days are gone for good.
Do a google on "Walmart Vlasic" or "Walmart Phillips TV".
Those are just two of the companies that Walmart has almost put out of business.
When Phillips Electronics sued Chinese manufactures, claiming they were dumping televisions on the U.S. below cost, to take over the market, Walmart joined the suit
on behalf of the Chinese!
Phillips won, by the way.
There is extensive evidence that a U.S. company doing business with Walmart will soon be forced to outsource everything to cheap foreign labor, or close their doors.
Here's how it works:
Walmart comes to you and says they want to carry your widget in their stores.
This means you'll have to double your factory size and hire 200 more employees.
Life is good.
Then in year 2 or 3, Walmart comes back to you and says "We will continue to stock your widgest, but we'll only allow you to make $.01 profit, per item."
If you refuse, they drop your item, and you are facing layoffs, and maybe bankruptcy.
If you say "yes", you'll probably still have to let everyone go, and outsource your widgets to China, or your profits go in the toilet.
Do some research. I'm not making this up.
As more and more of these stories have been published, Walmart business has suffered, and their stock has fallen.
They have the potential to be a great company, if they will allow American companies they do business with to be profitable too.
I used to love Walmart. I still shop there occasionally.
But, when several local businesses closed their doors because of foreign competition, it opened my eyes.
I like cheap stuff too, but if it means I end up working at McDonald's, it's not worth it in the long run to me.
And trust me on this, I'm as far right as you can get.
Republican, Christian, Pro-life, gun owner, etc.
Liberals have nightmares about people like me.