News Wal-Mart Saves America!
posted by November 13 at 9:00 AMon
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.