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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Walmart is the world's largest corporation. It's size dictates the way the global economy does business -- period. My father ran a household name (everyone in the US knows it) manufacturing company in the US. When they lost their contract with Walmart because they refused to continue to lower the cost of their product, which was already causing a loss at the company or to make a cheaper product, Walmart said good riddance. They then gave the contract to a small manufacturer in Indonesia.

What happened to this extremely large manufacturing company? Well, after the loss of the Walmart contract, my father laid off 400 employees immediately. Over a two year period, he oversaw the shut down of the last US manufacturing plant of this company.

The plant was put up for sale. An Indian manufacturing company purchased the guts of the plant. They literally bought almost everything inside the plant, including bricks that were needed to make certain items. What didn't they buy?  Anything that protected the environment. The left behind the machines that took the lead out of the air, they left behind the equipment that tested the water before it left the facility which would monitor for mercury, etc.

This is just one example of a once premier US brand that no longer exists in the US. This is what we are paying for in the lower prices. Study after study shows that most Americans just want their cheap socks and underwear.

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Was this household name manufacturing company perhaps unionized and unwilling to lower wages?  Almost all manufacturing companies in the US went belly up due to high labor costs.[/quote]

Like I said earlier, it didn't go belly up. And do you mean this and other companies that have suffered because they paid their workers a living wage shouldn't have done so?

Please, please tell me how much better our economy has done in the past decade, since this company and the scores of others who have left our shores. Please show me the families who have achieved the American dream of homeownership, show me that people have been able to replace these lost jobs with other jobs with equal pay and benefits. Oh right you can't. Unemployment, personal bankruptcies due to medical expenses, financial collapse, foreclosure and housing collapse.

Gee, it seems that even Walmart can't compete these days. They can't lower their prices anymore either and their poor customers still can't afford what they are selling. Their earnings are down and so is their stock. http://wallstcheatsheet.com/business/are-weak-sales-a-red-flag-for-walmart-stock.html/?a=viewall

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