And why are customers struggling? Because the jobs have gone overseas and Walmart ignores the companies that do produce here. Was it on this Rotterdam board or the Schenectady board, I can't remember, posters started listing where you can get "Made in the USA" products. Then there was a story in the paper recently about Softex in Cohoes, that is "Made in the USA" stuff. Why doesn't Walmart put Softex products on their shelves?? I think the story said that Sears (and maybe Kmart too since they are connected) sell Softex products. And how about the Newberry Knitting products, heck, they are only down the road from Walmart, Walmart could save a fortune in transportation costs having the hats and mittens flown in or shipped from overseas.
So, Walmart, what gives?
Excellent point!!!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
NEW YORK: India Inc's presence has grown in the Global Fortune 500 club with the debut of Tata Steel but its top seven entities collectively too are no match to global leader Wal-Mart, which is entering the country in partnership with Sunil Mittal's Bharti group.
The combined size of the seven Indian members in the league of Global Fortune 500 is less than 60 per cent of the turnover of the numero-uno Wal-Mart.
As per the latest global rankings released today by the US business magazine Fortune, which is based on the companies' annual revenue, there are now seven Indian companies in this league, up from six last year.
Together these seven companies -- Indian Oil Corp, Reliance Industries, BPCL, HPCL, Tata Steel, ONGC and SBI -- have a turnover of $221.07 billion.
In comparison, Wal-Mart has retained its top position in the list with an annual turnover $378.8 billion.
Excluding IOC, ranked at top among Indian companies, the six other Indian companies have a turnover of less than one-tenth of that of Wal-Mart.
Including Wal-Mart, as many as five companies globally have a higher revenue than the combined turnover of seven Indian firms.
These firms include ExxonMobil, ranked second after Wal-Mart with a revenue of $372.8 billion, Royal Dutch Shell (3rd with $355.7 billion), BP (4th with $291.4 billion) and Toyota Motors (5th with $230.20 billion).
Besides Wal-Mart, the second-ranked ExxonMobil also has a size more than ten times of all the Fortune 500 companies from India except for IOC.
IOC has been ranked 116th with a turnover of $57.4 billion and is followed by RIL at 206th ($35.9 billion), Bharat Petroleum at 287th ($27.8 billion), Hindustan Petroleum at 290th ($27.8 billion), Tata Steel at 315th ($25.6 billion), ONGC at 335th ($24 billion) and SBI at 380th ($22.4 billion).
Riding high on the fastest revenue growth among the world's 500 biggest companies, Ratan Tata-led Indian steel major has debuted on the list at 315th position.
Last year, SBI had debuted in the list, taking the total Indian strength to six companies.
In the latest list, the US has retained its position as the country with maximum number of Fortune 500 companies. There are 153 companies from the US on this year's list, although it is down from 169 last year.
China also has a bigger presence on the list as compared to India with 29 companies. However, the Indian presence is bigger than the two other BRIC countries, Russia and Brazil that have five companies each on the list.
There are 64 firms from Japan, 39 from France, 37 from Germany, 35 from the UK, 14 from Canada and eight from Australia among other countries.
Wal-Mart’s report portends tough economic times ahead BY ANNE D’INNOCENZIO The Associated Press
NEW YORK — Wal-Mart Stores Inc. raised its full-year earnings forecast Thursday after secondquarter profit rose more than expected, helped by tight inventory controls and a renewed focus on low prices that is attracting financially squeezed shoppers around the world. But the world’s largest retailer predicted slower sales growth at its established stores in the U.S. for the current quarter, as the benefi ts of the federal stimulus checks dry up and customers find it more difficult to stretch their paycheck to the next payday. Meanwhile, upscale department store chain Nordstrom Inc. and mid-level retailer Kohl’s Inc. struggled, reporting double-digit percentage declines in earnings as shoppers cut back on apparel. Nordstrom reduced its full-year profi t forecast, while Kohl’s upgraded its full-year outlook to reflect — like Wal-Mart — stricter inventory control that boosted profit margins. “Wal-Mart’s customer is reflective of society in general,” said the company’s president and chief executive, Lee Scott, during a prerecorded conference call Thursday. “While some of them live paycheck to paycheck, our customers represent broad income segments and they are all challenged today. When energy and oil prices go up on top of inflation and health care and core food items, there is a great deal of pressure on the customer.” The Bentonville, Ark.-based retailer said it earned $3.45 billion in the quarter ended July 31, up 17 percent from $2.95 billion a year earlier. Profit from continuing operations rose 9.3 percent to $3.39 billion, while net sales gained 10 percent to $101.6 billion. For the quarter, the discounter posted same-store sales growth of 4.5 percent, excluding fuel sales, compared to a 1.9 percent increase a year earlier. Same-store sales, or sales at stores opened at least a year, are considered a key indicator of a retailer’s health. “We have improved customer traffic and ticket and overall sales growth in our markets,” Scott said in a statement. “While inflation and higher fuel costs are pressuring suppliers, retailers and customers worldwide, we’re confident that Wal-Mart is well positioned for this economy.” The company now expects to earn $3.43 to $3.50 per share for the year, up from a full-year forecast issued in February of $3.30 to $3.43 per share. Wal-Mart also said its profits for the current quarter should be from 73 cents to 76 cents per share. Analysts expect 76 cents. Wal-Mart Chief Financial Offi cer Tom Schoewe attributed the better second-quarter profits to tighter inventory controls, which led to fewer markdowns on merchandise. The company also noted that it met its goal of having inventory grow at half the rate of its sales growth. But the company emphasized Thursday that the economy remains difficult. “We still see sales volatility around paycheck cycles,” Schoewe said, referring to the pullback in spending in the days before the paycheck arrives and the spike after payday when shoppers have the cash to buy. Wal-Mart predicts same-store sales growth to slow to 1 percent to 2 percent for the third quarter, a sharp decline from the 4.5 percent it saw in the second quarter. Like other retailers, Wal-Mart is also confronting inflationary pressures from fuel, food and labor that are raising the costs of goods. Schoewe told The Associated Press that over the past few months the company has received a number of requests from suppliers to push higher prices through. While he said Wal-Mart has tried to resist the increases, Schoewe acknowledged that the company is having to raise prices on some holiday goods. Wal-Mart and other low-price operators are performing better than department stores and apparel chains as consumers, aiming to save money for gas and food, focus their buying on necessities and shop at outlets that offer a breadth of merchandise. Nordstrom’s second-quarter profit dropped 21 percent, while total sales fell 4.3 percent. Meanwhile, Kohl’s second-quarter profit fell more than 12 percent despite a 3.8 percent increase in total sales. Wal-Mart has also been helped by overhauling its strategy — refocusing on lower prices, improving the mix of merchandise offered, cleaning up its stores and providing friendlier and faster customer service. The company has said that it expects to keep its new customers even when the economy improves.
This doesnt just apply to manufacturing, watch the news our government is allowing fereral contractors to send IT as well as Call Center work to india....The government is allowing good paying jobs ,,,,lots of them,,,to go offshore...
Those call centers are also trying to collect our debt of credit cards.....who here actually gets to speak to someone in the states reguarding their interest on their credit cards????.....we put ourselves here......as for the call centers---no different than the lettuce pickers.....we put ourselves there too.....
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Wal-Mart settles with ousted exec LITTLE ROCK, Ark. — Wal-Mart Stores will pay disgraced former executive Tom Coughlin $6.75 million in a lawsuit settlement voiding his retirement package worth millions more, according to a report filed Thursday with regulators. Lawyers representing the Bentonville-based retailer and its former No. 2 executive settled the suit only hours before a jury trial was scheduled to begin over the retirement benefits. Wal-Mart filed a report to the U.S. Securities and Exchange Commission late Thursday saying Coughlin agreed to forego the remainder of a retirement package valued at $17 million. Tim Brooks, Coughlin’s lawyer, said the settlement includes some payment to his client, but he wouldn’t say how much. Coughlin, a protege to Wal-Mart founder Sam Walton, retired from the company in 2005. In 2006, Coughlin pleaded guilty to federal charges of wire fraud and tax evasion after admitting in court to defrauding the company to pay for the care of his hunting dogs, lease a private hunting area, upgrade his pickup truck, buy liquor and a cooler, and receive $3,100 in cash, among other items, while earning a $1 million-plus yearly salary.
Sam Walton, the founder of Wal-Mart, always believed that his company should stay out of politics and stick to retailing.
Too bad his family didn't listen to him. Today, the Walton family sinks millions and millions of dollars into influencing politicians and manipulating the legislative process.
Wal-Mart Watch is proud to launch a new website - WaltonInfluence.com - that tracks and analyzes the Walton family's and Wal-Mart's growing influence on American politics.
Visit it now and see just how much power the Waltons and Wal-Mart have in Washington:
The Walton family and Wal-Mart spend millions of dollars every year to fund an extreme right-wing corporate agenda - one that is often in direct conflict with the interests of Wal-Mart's most needy workers and shoppers.
Wal-Mart has lobbied against increasing port security, providing Country of Origin Labeling (COOL) on food products, raising the minimum wage, and implementing a Patients Bill of Rights.
Meanwhile, the Walton family spends tens of millions of dollars supporting legislation that would privatize Social Security, repeal the estate tax and create private school vouchers.
In August and October 2004 alone, Alice Walton gave $2.6 million to Progress for America, the Karl Rove-aligned 527 group largely credited for helping re-elect President Bush with vicious attack ads against John Kerry.
There's a lot more information out there - but you'll need to see it all to believe it. Take a few minutes to explore our new web site and then tell your friends, family and coworkers about it:
This the same WalMart that had Hillary Clinotn on its Board of Directors for several years? The same Walton family that helped bankroll the Clintons into the White House, and Hillary to the Senate?
This the same WalMart that had Hillary Clinotn on its Board of Directors for several years? The same Walton family that helped bankroll the Clintons into the White House, and Hillary to the Senate?
Yes it is!!!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
This election season, the concerns and values of working-class American households — those who have been hit hardest economically — are going to decide who becomes the next president. The media have coined a new term to describe many of these voters: “Wal-Mart moms.” Wal-Mart has celebrated this new “type of voter,” ignoring that the values of Wal-Mart moms and the corporation’s history, tactics and values clash dramatically. Wal-Mart moms understand that community and neighborhood values underscore a strong American household. But when a new Wal-Mart opens in town, all too often property values and tax revenues fall, forcing American towns already under tight budgets to raise property taxes across the whole community. Moreover, Wal-Mart’s low wages and inadequate health benefits force many of its workers into government programs, costing taxpayers thousands of dollars in public assistance for each Wal-Mart worker. Consequently, the public services that Wal-Mart moms value the most, like our public schools, are the first to feel the pinch when local budgets shrink. Wal-Mart moms know and value a good neighbor; something Wal-Mart is not. By putting their families first, they will vote for a government that looks out for average American families, not just big business like Wal-Mart. If Wal-Mart moms swing this election by supporting the candidates that share their concerns about economic fairness and stability, adequate health care and affordable, quality education, they will also be voting to change Wal-Mart.
Good analogy of Walmart...but I guess these walmart moms will vote for Obama, by the sounds of it.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
I'm sorry----can someone tell me who coined 'walmart-moms'?????.......how about the phrase----paris hilton followers BFF--anyone know what they hell they are thinkinq at 18 years of aqe and up????---yeah, I hear the wind too........ >
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
BENTONVILLE, Ark. — Wal-Mart Stores Inc., the world’s largest retailer, said Tuesday it will pay between $352 million and $640 million to settle 63 wage and hour abuse lawsuits against the company. The discount retailer, which has more than 1.4 million employees, said the total amount to be paid depends on the number of claims submitted by those who are eligible. Each of the settlements must be approved by a trial court. Wal-Mart, one of the few retailers doing well in a dismal holiday season, said it would take an aftertax charge to continue operations of about $250 million, or approximately 6 cents per share, in its fi scal fourth quarter. The company said many of ............http://www.dailygazette.net/De.....amp;EntityId=Ar00401
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