Democrats tell us that Card Check won’t do any harm to the economy - that it will only help American workers. Tell that to the people who hold stock in WalMart - many of whom are WalMart employees:
Citigroup Inc. lowered its rating on Wal-Mart Stores Inc. to hold from buy on Tuesday, citing concern that legislation intended to make it easier for employees to unionize would raise the retail giant’s labor costs and hurt its competitiveness.
Deborah Weinswig, a Citigroup analyst, cut her price target on the Bentonville, Ark.-based retailer to $48 from $53…
The proposed Employee Free Choice Act, a top priority for unions this year, could be introduced to the House as early as Tuesday by Rep. George Miller, D.- Calif., the analyst said. Wal-Mart would be the “primary target” if any such bill were to be passed, especially because the U.S. food retail industry has historically been unionized with the exception of Wal-Mart, the largest food retailer, she said.
In that case, Wal-Mart might have to shoulder higher wages for more seasoned employees and increase employee benefits significantly. In addition, its flexibility in the job functions of its workforce could be decreased, while relationships between store-level managers and store associates could be impaired, the analyst said. Wal-Mart could also see its competitiveness reduced if it’s forced to raise prices to help offset higher labor costs, she wrote in a research note.
It “could be a significant drag to earnings,” she said.
If Card Check is a drag on the earnings of WalMart, is there any non-unionized company that would be any different? As the earnings of these companies fall, that would impede their ability to hire new workers, expand market share, and hold down the price of their products.
Of course, the flip side is that once unionized, a company like Wal Mart could join some of the other great union success stories of the last 50 years — such as the steel industry, the automobile industry, and other unionized sectors. In a few decades, Democrats will be bailing WalMart out.
Be sure to check out Tom Maguire, who catches Jane Hamsher arguing that this is a blatantly political act by Citi, with no justification in the real world. She believes that once WalMart is forced to pay their employees more, their profit is bound to go up; I think it has something to do with unicorns, but you may want to read for yourself.
You may laugh, but a majority in Congress agrees with her.
A bit of a rant now....
phxg Wednesday, March 11th at 3:42PM EDT (link)I am a Wal-Mart shareholder. No, not a big one but enough. I have my 401k in the market as well as some other stocks. I also like(ed) to hold a few CD’s as a another investment.
I am sick and tired of the market, i.e. my investments taking a hit for every single Democrat policy/program that they announce.
2010 and 2012 can not come soon enough.
It is the mark of an educated mind to be able to entertain a thought without accepting it. –Aristotle
Don't think of it as weakening Wal-Mart
weave Wednesday, March 11th at 4:11PM EDT (link)The Dow is down 40% over past 6 months, while WMT is only down 25%. Obviously that is not equitable or fair, so just consider this a market fairness adjustment from DC.
Nice take.
Rod_Patrick Wednesday, March 11th at 4:55PM EDT (link)55555!
Who is next!
franklinslocke Wednesday, March 11th at 4:20PM EDT (link)Good grief! The Libs destroyed our banks, insurance companies, car companies, and the list goes on and on. Now they are going after big box retailers. Who’s next they are going to destroy.
After they are done, we are going to driving horse-drawn wagons and buying from the local general store again.
http://franklinslocke.blogspot.com/
After they are done, we are going to driving horse-drawn wagons and buying from the local general store again.
izoneguy Wednesday, March 11th at 4:35PM EDT (link)That might not be all bad.
“When the government fears the people, there is liberty. When the people fear the government, there is tyranny.”
Thomas Jefferson
I think the whole purpose is to destroy the country
Praying Wednesday, March 11th at 4:53PM EDT (link)as quickly as possible. We will become a communist nation without the usual bloodshed - just shedding of our 401K accounts. I knew Obama was going to be bad for the country - even I had no idea HOW BAD! The guy is following the communist party platform, step by step.
Join the RedState Strike Force
I don't know about the no bloodshed part.
Achance Wednesday, March 11th at 6:42PM EDT (link)Democrats never seem to get that you can never give enough to the looters and moochers. My worry is that sometime in the next year or two when everybody in in the cities ISN’T sporting 22s on their Escalade, they decide to start robbing people and burning things. The Ds are already playing the “the nasty white Republicans won’t let us do enough” game. The next step is pretty predictable.
In Vino Veritas
Ditto on The "No Bloodshed" Thing
IJB Wednesday, March 11th at 7:17PM EDT (link)But it’s not for the reason you cite.
The other thing that Dems/Leftist/Communists never count on is that you can only push people so far before they’ll push back. *Hard*.
Sure, Republicans and conservatives (and even independents and moderates) are generally wusses who will take any indignity thrown at them while trying to keep a bright and sunny smile on their face.
But everyone has a breaking point, and the Dems are playing with fire if they think they can push American citizens around and expect them to roll over like the Russian peasants and the Tienanmen protests did.
The Dems shouldn’t worry about the inner cities erupting in anger - they should worry about what happens when Redding and Omaha and Tulsa go on a rampage.
They keep this up, and they’re gonna find out.
I don't see the people of Redding and Tulsa
Achance Wednesday, March 11th at 7:31PM EDT (link)going out looking for somebody to kill or somebody’s house to burn. I see them blowing up federal buildings and shooting at federal law enforcement if it came to that, but not going for the civilians, at least not unless attacked. I do see the denizens of the cities doing that because they’re acculturated to seeing the non-city dwellers, the communters and office workers, as easy prey. That’s only true for a little ways from the center of the city. Also, because of the media and the echo chamber that city people live in, they really don’t realize just how minority minority is once you get out of the city. Blacks and Hispanics may be half or more of the population on HBO or NBC, but they’re certainly not once you get to the suburbs.
In Vino Veritas
Or...
jcheney Wednesday, March 11th at 8:16PM EDT (link)…blowing up corporate buildings. With Obama preaching class warfare, it could come to that too.
Newt Has It
tedpomeroy Wednesday, March 11th at 7:27PM EDT (link)check out American Solutions
Freedom, Not Fear
is the battle cry!
check out the campaign contributions...
Jack Wednesday, March 11th at 7:38PM EDT (link)American corporations gave heavily to the dims and to obama. Look where they put their money. They gave much more to dims then to to the GOP. They deserve card check I have no sympathy for them. Let them rot for what they did.
Jack
“If at age 20 you are conservative you have no heart. It at age 30 you are liberal you have no brains.” Sir Winston Churchill
One of the main reasons I shop at WalMart
peg_c Thursday, March 12th at 7:46AM EDT (link)is that it is NOT unionized. Does anyone know if Target is unionized? Googling does not answer that clearly. I shop there but spend a lot less.
I will try hard to avoid WM totally if they unionize. It’s a price thing and a principle thing.
Government cannot be the solution when government is the problem.
I agree.
Praying Thursday, March 12th at 8:18AM EDT (link)The wallet is one of the most effective means of protest.
Don’t know about Target. Good question, though, as I shop there too.
Join the RedState Strike Force
Target has their corporate HQ in Minn.
The_Gadfly Thursday, March 12th at 4:11PM EDT (link)My bet is unionized, heavily.
We’ve been called racists enough now that it shouldn’t bother us any more.
-AChance, http://www.redstate.com/moe_lane/2009/11/03/what-men-may-do-we-have-done/#comment-24463
If NY23 was a beat down for Conservatives, what do you call what happened to Progressives in NJ and VA?
inspired by ColdWarrior, http://www.redstate.com/hooah_mac/2009/11/04/ny-23-the-agony-of-defeat-not-so-much/#comment-156
no
SgtKirk Thursday, March 12th at 5:05PM EDT (link)Target is not unionized. I worked there from 2004-2007. But I only know about the retail side, not the warehouses.
I'm not a fan of this bill
omar Thursday, March 12th at 8:30AM EDT (link)Nor am I a fan of most unions but I’d have to ask if you have ever worked at a walmart.
I've worked in retail, learned to walk in a small town department store.
Achance Thursday, March 12th at 1:54PM EDT (link)Watched my Dad battle it out with the TG&Y, Target, and WalMarts and all the Dollar stores and the like until the day he closed his store so he could go to the doctor and never left the hospital.
Worked for J.C. Penney first as a sales associate, then Mgmt. Trainee, and later a Dept. Manager as my first real job after I got married and gave up my more adventurous ways.
Retail is a very, very good entre to the workforce for young people. The standard late four hour or so shifts starting at five or six pm allow you to go to school and make a little money. You learn what actually going to work is about. Only a miniscule percentage of the people who go to work in retail should stay there. If you have the knack for it, department and section managers make pretty good money, store managers in good locations make real good money if they can make their numbers. If they don’t make their numbers, they don’t stay Store Managers long.
Anybody who considers “clerking” in a retail store as a lifetime career is simply a loser. You are never going to make any money to speak of and the hours are simply awful. If you have no more ambition than that, I have no interest in your well being. This, of course, is the base of the retail clerks unions; the person who thinks they should be able to have a bountiful lifestyle on a job that simply can’t pay much and allow the business to remain competitive.
In Vino Veritas
it's not about ambition
omar Thursday, March 12th at 2:18PM EDT (link)It’s about ability and equality. I 100% agree that as a sales clerk you don’t deserve a high salary. BUT not everyone can be an engineer not everyone is capable of doing everything. The whole “if you put your mind to it” mantra is utter crap. Honestly you’ve made some extreme judgments that all sales clerks deserve what they get like it’s some sort of punishment for god knows what. So they don’t deserve a great salary, not even a good salary but they do deserve some health care and basic things that are awarded to other comparable sectors. The unfortunate reality, from my perspective, is that without a union businesses will take advantage of their workers too harshly and with a union the union bosses will extract exorbitant pay and create a lazy workforce.
Oh, grow up - or become a union steward.
Achance Thursday, March 12th at 2:27PM EDT (link)A retail store clerk is a dead end job. Either move up or move out. No, not everybody can be a manager or a professional, but actually anybody with near normal intelligence and the willingness to work can do almost any production or supervisory job in the Country; work is that incremental in most jobs. If you’re over about 25 and still working in retail in a non-management job, you’ve made some bad choices unless you’re just doing it because you like it - and some people really like it. Other than the hours, all the socialization can be quite pleasant if you’re that kind of person. The work isn’t that hard, but if you do it long all the standing is hard on your feet and spine. Most people who spent much time in retail have some curvature of the spine, including me.
What happens is that people just settle into these jobs, don’t get promoted, and become malcontents. Before long they’re walking around with UFCW interest cards in their pocket,prosetlyzing, and wondering why management doesn’t like them.
In Vino Veritas
production eh?
omar Thursday, March 12th at 2:50PM EDT (link)So… like a factory worker…. Same general skill level needed, but factory workers have great benefits etc. (too great, but everyone knows they’re over paid). That’s what I was talking about with comparable sectors. It’s a dead end job because that’s the way it’s made, bad hours, poor pay, not much opportunity for advancement. It doesn’t have to be a dead end job, I see no reason why a sales clerk should have significantly worse benefits than a basic secretary perse or, like the above comparison, of a simple factory worker.
Fulltime or long-term employees
Achance Thursday, March 12th at 4:29PM EDT (link)usually have benefits at WalMart or most any other company of any size.
If heath insurance is your issue, becoming a communist isn’t the solution. Stop the stovepiping between states, allow some portability between jobs, do some entry-level sort of catastrophic insurance for workers who are temporary or transient. I can go on awhile.
In Vino Veritas
what, you think money for that appears out of thin air?
E Pluribus Unum Thursday, March 12th at 4:36PM EDT (link)Those higher wages (and you admit they’re overpaid) are there because the union has attached itself like a parasite to the company. The extra money for these factory workers comes from higher prices for the consumers of the products made.
You are floating it out there that WalMart is cheating its employees. But if they go union, the benefits go up, and the prices do too.
It ain’t free.
Carthago delenda est
Do your conservative t-shirt Christmas shopping at EPU Gear. Save the conservative muse, save the world.
Not every job should be a vocation
The_Gadfly Thursday, March 12th at 4:58PM EDT (link)burger flipper, retail sales clerk, pizza deliver boy/girl, and lifeguard are a few that come to mind.
These jobs are entry level jobs where you first learn how the real world works. Then, having learned a bit about the real world, you move onto a real job. I’ve held most of the jobs in that list at some point in life. Sales can be a lucrative job. My dad was a salesman, and up until a year or two before I graduated from high school, he was maxing out his social security payments in September or October. He started as a grocery store clerk (small town store, no union card) and eventually started working a chip and pretzel delivery route, before making what to me was the big score of working for a regional baked goods delivery outfit (being able to go out and select desert if when we ate the last ones in the house was really important to me back then). But he never could have survived as a retail clerk, even in a grocery store.
The sorts of jobs that are starter jobs should be routinely vacated so that the next group of people who’ve never had a real job before can take them. They need to be jobs where the benefit/risk ratio is profitable, and since the risk for entry level is always high, low wage is the way to balance the odds. It isn’t demeaning, it’s the way things ought and have to be.
We’ve been called racists enough now that it shouldn’t bother us any more.
-AChance, http://www.redstate.com/moe_lane/2009/11/03/what-men-may-do-we-have-done/#comment-24463
If NY23 was a beat down for Conservatives, what do you call what happened to Progressives in NJ and VA?
inspired by ColdWarrior, http://www.redstate.com/hooah_mac/2009/11/04/ny-23-the-agony-of-defeat-not-so-much/#comment-156
Unions have Wal Mart in their cross hairs
PaulT Thursday, March 12th at 1:27PM EDT (link)Wal Mart has been a union target forever. Over the years, unions have demonized Wal Mart claiming unfair treatment of their employees to the products they sell most of which are made in China. When Obama was elected I said to friends that unions are now going to get their rewards enabling them to focus on their number 1 target (no pun intended) Wal Mart.
Pres Obama keeps talking about the taking care of the “middle class” with his policies. How nice. How hypocritical! Wal Mart has proven to be a haven for middle class shoppers through its low prices for food and other products. Its success with selling food has been at the expense of major supermarket chains which are all unionized, thus forcing higher labor costs…and higher prices. These chains have been putting pressure on the unions to organize Wal Mart in order to equal the playing field, instead of forcing unions to balance their labor costs with the competition.
I truly believe that Pres. Obama, the democratic party and their subsidiaries: organized labor, the trial lawyers, environmental and consumer protection radicals, Hollywood elitists, and their publicity department, the Main Stream Media are trying to bankrupt all of us in order for the “new order” to be implemented. Removing the advantage of “middle class” shopping havens like Wal Mart is a step toward government control of its citizen’s lives.
Thus the need for speedy passage of legislation to implement his stated goals is necessary before the public becomes aware of the details. Remember “the Devil is in the Details.” We have already seen several democrats beginning to question Pres Obama’s objectives, perhaps because they are getting heat from their constituencies and as more of the “middle class” begin to educate themselves on what could be in store for them down the road, other politicians will join in the opposition. A politicians first objective in office is getting re-elected, not changing the world. Thus, when an elected member of Congress begins to smell defeat, they will do what is necessary to ensure their job security.
In the end, it is up to the electorate to begin to put the heat on their elected officials and up to the new media to educate the electorate before they are silenced by this administration. I don’t want to wake up one morning and find out I no longer have any decisions to make, as the government will be making them for me.
PaulT
Is there a union ETF? I'd go long on that one. nt
Common_Cents Thursday, March 12th at 4:25PM EDT (link)“Never interrupt your enemy when he’s making a mistake.” Napoleon - Well, unless he is ruining your country! Common Cents
A cult of personality arises when a country’s leader uses mass media to create a heroic public image, often through unquestioning flattery and praise.[1] Cults of personality are often found in dictatorships.
translation for those of us from RTW states?
E Pluribus Unum Thursday, March 12th at 4:30PM EDT (link)what’s an ETF?
Carthago delenda est
Do your conservative t-shirt Christmas shopping at EPU Gear. Save the conservative muse, save the world.
Exchange Traded Fund.
Brian Hibbert Thursday, March 12th at 4:31PM EDT (link)Basically a mutual fund that trades as if it were a stock.
Socialism doesn’t work. It looks nice on paper, but it’s been tried and it’s failed miserably every time (usually accompanied by widespread death and suffering).
Proud member of the V.R.W.C.
Join the RedState Strike Force
I've been investing in unions a little;
Achance Thursday, March 12th at 4:35PM EDT (link)Helluva lot easier to get some work out of them than it is out of a Republican Administration. I’ve kinda enjoyed picking Governor Palin’s lackeys pockets.
This one’s gonna be tough for me because I’m a pretty mercenary sort and money is one of two things that I’ve never let ideology much interfere with.
In Vino Veritas