GREED QUICKLY DESTROYS A LIFETIME OF WORK
Pillowtex Corp. had more than 1.2 BILLION dollars in sales, with $450 to $500 million of it with Wal-Mart according to the company's former CEO. He was quite was bitter, as he described how Wal-Mart drove his prices lower and lower. Then the store had the nerve to firmly suggest he go off-shore to get his products made. In the end, he liquidated his company and was forced to fire ALL 14,000 employees. 14,000 people all unemployed. This is the cost of jumping in bed with the devil. Think about that the next time you go to the store to buy a pillow.
captian , all I ask is for the reference information in order to conduct some due diligence.
I fully admit WMT has received incentives. No argument there. I have issues with how the information is presented and the accuracy of the information.
If you think $60million averaged over 84 projects equals $7million per project that would explain why you think the rest of the post is accurate as well. You cannot distinguish a lie from reality.
Since your comprehension seems weak, you fall into the Orwellian trap of Ignorance is Strength. Your ingnorance makes them stronger.
Feel free to offer up and references to support the lies, I mean arguments previously presented.
Well ... i am not so sure I want it to head south, but think it will and should -- would rather see the company reform -- and you do real well
Sorry for the hype and denegrating.. and thank you for the forthright explanation and your honesty
It's how the interaction should go
Leap = call then
I think I get it. I sort of thought that might be it. I don't do any day or options trading type investing -- just buy and hold - and sell where the profit has run to where I think it will or should
Then look for more to buy
I am not just down on Walmart. The company i work for uses it for an excuse - but that is not the main reason. All of corporate America and our politicians are selling us out with this 'free tread' -- I have known and been saying that for a long time - since my economics studies began.
I took a class on history of labor unions - actually a course in labor relations - BOTH sides. I do know what I'm talking about and could go way on and on about Soviet Russia and market economy labor
As I said - a dictator would want the union clout abolished first thing - as one sided options for determining destiny as possible - eventually all his [or hers - Heil Hillary?]
Well fortunatley all those post,385686, 385689, 385690, are quite true. Perhaps you should sue for slander....no I didn't think you would then the truth only gets more press.
Go America!!!! Support your country and your citizens, avoid Wal-Mart and their support of the Communist Chinese.
This is a continuation of repudiation of false posting by ABSute on messages 385686, 385689, 385690. It appears ABSute cut and paste with out providing source references and without conducting relevant due diligence
ABSute claims free land was provided to WMT. No examples are provided. It is common for surplus land to be provided to industries to attract economic activity. Many people are familiar with the idea of a municipal industrial park. Either the municipality purchases land from willing owners or the land is provided by developers who want to develop adjoining properties and the like.
ABSute states "taxpayers MAY end up paying all or part of costs for infrastructure". Again, not one single example provided and no link to source material. My observation is WMT pays for road improvements, intersection upgrades, utility movements, and other infrastructure items within the community as incentive for the community to accept the deal.
ABSute states "tax increment financing is used to divert increases in tax revenues" without clarifying who is the recipient of the diversion.
ABSute also claims property tax relief is provided. This entirely logical on the part of governing bodies attempting to draw new industries to a ocmmunity. As an example, agriculture land is a very low rate for property tax. A community would agree to maintain the tax rate at the agriculture level for a period of time (five/ten years) even though the property is now a higher tax category. The idea is the adjoining properties will generate enough added revenue to be worth the abatement provided to WMT.
By now, I hope you have figure out there is no credibility behind the information provided by ABSute and supported by her clan.
I encourage you to look elsewhere for legitimate facts to base your decision regarding WMT.
Regarding ABSute messages 385686, 385689, 385690, My purpose in responding is to dispute the falsehood of the information provided in the alleged subsidies "given" to WMT. I will counter lies she provided on a page to page, post to post basis as they are discovered. It appears to me she has cut and paste from another source without critically evaluating the accuracy or quality of the information. In another post, she claims to have provided links to the information. No links are available in three posts (385686, 385689 or 385690) to confirm, review source material, or conduct due diligence.
#385689 ABS states 84 of 91 DC received total subsidies at least $60 million with an average about $7million.
This is a lie. $60million divided by 84 is about $800,000, or 1/10 the amount claimed by ABSute. This means the so called researchers found $60million (at least) and fabricate the other 90% they claim is subsidized. 84 DC at $7mm each is about $600million. Quite a stretch from $60million to $600million as a claimed subsidy.
ABS states "low cost financing approximately $138 million through industrial revenue bonds". There is no evidence this is a gift to WMT. What it does is provide WMT with low cost financing. The interest savings on $138million would be less than $5million. This is about 1/25 the amount claimed by ABSute. Another lie. Without supporting information, it is impossible to identify the nature and scope of the financing and the savings gained by WMT. Typically, these type of bonds are covered by the industry, with a secondary obligation by the government entity in the event of default. Feel free to bitch and moan should WMT actually default on a bond underwritten by a governmental entity.
This would seem to invalidate the core information provided in post #385689.
The generic incentives described in your post are meaningless unless the source and application of funds is described.
You are right, your post did not say "givebacks". It did not specify the type or source of incentives. As clear as mud.
Clarify, are you claiming municipalities, counties, states, any form of government body directly or indirectly paid cash to WMT to construct any or all of DC or a store ? If so, how much.
And again, take it up with the politicians. All WMT did was utilize and economic tool readily available to just about any large employer.
It is truly amazing of just how poor of a President Mr Bush has become. Certainly the worst fiscal president in my life time. Clinton in hind sight certainly was a great president, especially compared to our preent Mr Bush. I do admit dislike Clinton while he was in office.
...and Elvis has been spotted eating bacon and peanut butter sandwiches with the second JFK snipper. Of course Hoffa is serving up the wine...
...is it settled that the lunar landing was produced in a studio in Az or was it HollyWood? Never can keep that straight.
Though it is true 'Fiction' and 'Reality' have the same number of letters and both share an 'i'and a 't' there is little overlap in their simularity. Stay on the meds dear.