gnawbone Loc: Southern Indiana

More BS

Try reading this: https://www.waltonfamilyfoundation.org

Cykdelic Loc: Now outside of Chiraq & Santa Fe, NM

Come on, Mark!

You’re a musician.....musicians are supposed to be inherently good at math, so do the math. The Walmart PAT is about 3% ——- hardly obscene. IF you find a 3% PAT obscene, one wonders what your attitude is on, say, Apple? Apple Makes about $407,000 in Profit Per Employee [Note: I’m using some wag here based on old memory, but I’m close!]

We are talking about not just the largest employer in America, but I believe the largest employer of non-degrees people, too.

In the 2015 fiscal year, Walmart made a profit of $16 billion. When divided among Walmart’s 2 million-plus employees worldwide this only works out to an additional $7,355 per year, or $3.67 per hour – and that’s with the company making no profit. Also note that Sam’s Mart has been getting hammered (and rightly so.....I’m a Costco shopper). Again, do the math......there isn’t THAT much room to maneuver.

As a capitalist I see the market making needed changes to Walmart behavior......employees are leaving to better paying companies. They will probably keep increasing wages while they search for automation, and then even more jobs will die.

JOMO.

dragonfist Loc: Stafford, N.Y.

There is capitalism and then there is compassionate capitalism. Capitalism isn't going to work without workers. I would love to see the Waltons run their mega sales network all by themselves. Granted the investors deserve a fair return but so do those employees who make it possible for them to run the business that provides that fair return. After all just how much money does it take to live a lavish lifestyle? After that it it is just out and out greed. Sadly capitalism is rife with greedy owners.

Cykdelic Loc: Now outside of Chiraq & Santa Fe, NM

.......and the masses are rife with envious and greedy takers.

markngolf Loc: Bridgewater, NJ

Thanks for the feedback. Not only was I a musician, I also taught mathematics for 38 years. I can do the math, but am not concerned or even interested in your math.
Collectively, The Walton family has a net worth of approximately $140 Billion. $1 Billion is sufficient to purchase twenty $50,000,000 homes. Enough said!!
Mark

gnawbone Loc: Southern Indiana

..... nevermind

Screamin Scott Loc: Marshfield Wi, Baltimore Md, now Dallas Ga

So, are you then an anti capitalist? Are you also anti Tom Steyer and George Soros?

mr spock Loc: Fairfield CT

Amen!!
And now people are up in arms because someone had the gaul to suggest that an able bodied person actually
do a little WORK to earn his free pass from the government.

Blaster34 Loc: Florida Treasure Coast

When businesses stop making money, then its time to close that business. Business is in the business of making a profit and providing a service or product, not providing jobs. This is not earth shattering news, since word was already out there along with many other large chain retail stores. On the positive side, the money going to the employees in bonuses and pay raises is the money that would have gone to the government...can't think of a better use of that money

ecblackiii Loc: Maryland

A typical, anti-business, socialist, uninformed philosophy! The article did not explain why these particular 63 stores needed to be explained, but it's a simple matter of the local store not being able to sell enough to cover the costs of operation. WalMart provides lowest prices for its customers, but, like other successful businesses, has to continually evolve as market conditions change in the towns and cities where its stores are physically located. But, don't despair. Walmart still continues to do business in its other 11,600 stores operated by 2,300,000 employees and to expand its entry into e-commerce. Walmart is good for America!

Cykdelic Loc: Now outside of Chiraq & Santa Fe, NM

Well.....good, you should get it.

Given your response, I also now get it! You’re not interested in the subject matter as a business or an economic discussion but you are interested in it as a social discussion. You are crystal clear that you resent size at the cost of success, if needed, and you resent the Waltons for having taken the risks of creating a public empire and experiencing the rewards of said risk and success. Apparently you would like to see them keep some amount you determine and redistribute the rest?

Oh, I note you didn’t address the Apple issue.

Got it!

Blaster34 Loc: Florida Treasure Coast

I and many others personally have no problem with the Walton's wealth....so how would the Walton's having only a Billion improve your status in life or anyone else for that matter? As I tell my children, its more important to worry and focus on your own financial status than anyone else's. Envy, one of the 7 original sins.

mr spock Loc: Fairfield CT

So it seems as though you think there should be a cap on how much someone can make in a capitalist society. After that point anything they make should probably be taken away and given to those less fortunate. "Income Redistribution" is a wonderful concept. Except that the people who espouse it want to make sure the income "redistributed" is not theirs.
As a seemingly compassionate person Mark I'm certain you throw in an extra couple of thousand with your tax return every year to help those less fortunate. I'm honest enough to say I don't. Doesn't make me a bad person.
Our system is far, far from perfect. However, I would never hold the accumulation of wealth against someone who was smart enough and diligent enough to earn it.
Better to take your frustration out on Hedge Fund guys who really don't employ many people and make thier profits using other peoples capital.

gnawbone Loc: Southern Indiana

There are 4,752 Walmart stores, 660 Sams (soon to be 600?), 402 Walmart Discount stores, 701 Walmart Neighborhood markets, 17 Amigo stores, and other corporate affiliations.

So they're successful. That doesn't mean their liquid and have billions in their checking account but what they have done is provide jobs for 1 million people (people that applied for the jobs and are not being held there at gunpoint) and services that people apparently want and are willing to pay for. It has been pointed out here that they have a large charitable foundation and operate at a low PAT yet they are guilty of not doing enough by some arbitrary standard (my arbitrary standard says they're doing enough).

If you research charitable contributions and read more than one survey, data dump, article .... whatever .... you find trends appear. They are interesting and can be informative.

Blaster34 Loc: Florida Treasure Coast

Sorry folks, want to earn more money and a better living, then make yourself more marketable by getting a real education, learning a critical skill, not just a useless skill and then get some experience....America is chock full of opportunities