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Wal-Mart’s Supreme Court Win a “Huge Deal” for American Economy, Says Davidowitz

Fin - Daily Ticker - US

Wal-Mart scored a major legal victory Monday when the Supreme Court ruled in favor of the company in the largest sex-discrimination lawsuit ever. For nearly a decade, hundreds of thousands of women have been battling the country's largest employer for being overlooked when it comes to hiring and promotions.

Howard Davidowitz, long-time retail analyst, says this high-court decision is a "huge deal" for Wal-Mart, but an even bigger deal for American business and the economy as a whole.

"Wal-Mart offers more opportunity than any company I have ever seen," Davidowitz tells Aaron and Henry in the accompanying interview. "They give you an opportunity. You don't need a fancy pedigree to go to work for Wal-Mart….You work, you perform, you move ahead."

With unemployment still above 9% and the cost of a college education more expensive than ever, this type of opportunity goes a long, long way.

"We're worried about jobs. They are creating the jobs. When they open a supercenter, thousands of people line up for jobs," he says. "In Wal-Mart you get a chance -- ninety percent of the people started from the bottom."

Since the company employs nearly 1.5 million people, Davidowitz says it's highly likely for there to have been individual cases of discrimination. But it's flat out "looney" to think there is a systemic or cultural problem of discrimination at Wal-Mart to warrant a class-action law suit.

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