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Tuesday, November 13, 2007

Wal-Mart Saves America!

posted by on November 13 at 9:00 AM

Just in the nick of time:

NEW YORK (MarketWatch) — Wall Street on Tuesday rebound after four days of losses, with investors cheered by Wal-Mart Stores Inc.’s surprisingly good results, which could bode well for the all-important holiday shopping season.
“The lack of any substantial event risk - i.e. bank write-downs - and Wal-Mart’s stronger than expected earnings are boosting equities this morning,” said Tom DiGaloma, head of U.S. Treasury trading at Jefferies & Co. Inc.

And then there’s this bit of bright news for those in the dark belly of the American monster:

The company, according to data available for the first time, is offering better coverage to a greater number of workers. Wal-Mart, the nationís largest private employer, provides insurance to 100,000 more workers than it did just three years ago ó and it is now easier for many to sign up for health care at Wal-Mart than at its rival, Target, whose reputation glows in comparison.

Wal-Mart finally enters the late age of soft exploitation.

RSS icon Comments


Nothing could ever make me step foot in that place.

Posted by Amelia | November 13, 2007 9:26 AM

Walmart is evil.

That said, a lot of their sales were people buying out the $200 Linux machines they had on sale - they're sold out now.

Posted by Will in Seattle | November 13, 2007 11:16 AM

Explain to me again how Wal-Mart is more evil than Target or K-Mart?

Posted by Fnarf | November 13, 2007 12:08 PM

@3, welcome to the world of liberal spin. They only deal with one company as opposed to the entire industry. Kinda like hating Bush but not attacking the environment that allowed someone like Bush to even get close to being elected.

Simple generalized targets for simple minds. Thinking is SO Victorian Era!

Posted by Just Me | November 13, 2007 12:53 PM

Fnarf, it's because Target has cooler commercials with Devo songs in them. As long as Gap Kids has a hip marketing department, who cares about that recent unearthing of a child labor scandal.

Speaking of Wal-Mart, arent' they cool now cuz last I heard they were all down with Band of Horses now.

Posted by Funeral | November 13, 2007 1:15 PM

@3 - Walmart is still evil.

Even if you can buy compact flourescent lightbulbs for less than $2 there.

It's possible to be evil and act like you're not.

Posted by Will in Seattle | November 13, 2007 1:42 PM
Posted by King Rat | November 13, 2007 10:06 PM

It is easy to read this article and get overly excited. I looked a little closer at those purdy charts (print version is best for this) and you know what? THEY ARE NOT BETTER THAN THEIR COMPETITORS. In fact, the # of ppl actually eligible is still 10 - 15% below Target, et al. Plus, they have a 60% annual turnover rate, which basically means that the lion's share of the employees are NEVER ELIGIBLE.

That isn't event the half of it.

The costs still range from $4,000 - 10,000 for healthcare on an income of less than $30 or 20k. They can do better. Much better.

How is any of this an improvement? Still VERY skeptical...

Posted by Eugene541 | November 15, 2007 12:52 PM

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