Latest Headlines
Wal-Mart Tells Employees It Will Cut 11,200 Jobs -01.26.10 | New York Times
Wal-Mart Struggles to Expand in Chicago -01.22.10 | New York Times
At least 600,000 cribs recalled after child death -01.20.10 | Associated Press
Fact Sheets
The Employee Free Choice Act Legislation that will truly make a difference for Wal-Mart workers
Wage & Hour Issues Read how Wal-Mart continually fails to pay every worker for every hour worked
Health Care Wal-Mart's still insures barely over half its employees on the company plan
Always Low Wages Poverty-level wages make life extremely difficult for Wal-Mart's 1.4 million workers
The Environment How Wal-Mart's business model is detrimental for our planet
Friday Blog Round-Up: Leap Day Edition
APPLE TO WAL-MART: SURRENDER NOW
It’s not official yet, but for all the speculation it might as well be: Apple’s poised to overtake Wal-Mart for the No. 1 music retailer slot this year.
Apple Second Only To Wal-Mart in Music Sales, But For How Long? [Gizmodo]
Apple just slipped out a second press release this AM bragging that, according to NPD, it is now the #2 music retailer in the US, behind the megalithic Wal-Mart.
Apple’s iTunes set to displace Wal-Mart as largest music retailer in U.S. [BloggingStocks]
Wal-Mart Stores, Inc. is the world’s largest retailer, and the largest U.S. retailer of music. The retailer sells more CDs than anyone, but that dominance is being threatened in a paradigm shift that’s been coming for years now: the digital download.
Gizmodo goes on to note that the real music dominance battle might not be between Wal-Mart and Apple, but between Wal-Mart and Amazon:
More and more people will soon discover Amazon’s download store, with higher-res, lower-priced non-DRM MP3s, plus automatic loading into iTunes. Many iPod owners will also be drawn to Wal-Mart’s own increasingly busy download department, though in our Battlemodo we decided Amazon was the better bet.
iTunes Becomes No. 2 Music Retailer Despite Majors’ Efforts [Idolator]
iTunes leapfrogged over Best Buy and Target--which came in second and third, respectively, to iTunes’ fourth place the last time the NPD Group conducted their music-buying survey--as paid downloading experienced an overall spike of 50% between 2006 and 2007...Related to that, NPD is claiming that one million people just stopped buying CDs completely last year; maybe it’s because of my scouring Soundscan during the year, but does that number seem a bit low to anyone else?
After the jump, techies weigh in on the DVD format wars and Wal-Mart’s new designer brings some interesting ideas…
LIFE STILL SUCKS FOR HD-DVD USERS
If you’ve already sunk into a bottomless pit of despair over your now-defunct HD-DVD player, don’t worry: there’s more problems ahead! Blu-Ray still has problems, and while your Wal-Mart-isse HD-DVD player isn’t worth the plastic it’s made of, some other retailers are actually working to proactively remedy the situation.
Wal-Mart to officially discontinue HD DVD sales by June [Engadget]
With HD DVD, things are just going from bad, to really bad, to worse, to car-crash-you-can’t-stop-looking-at. You can file this one under that latter category, as Wal-Mart has officially announced its intentions to stop stocking HD DVD players and movies by June.
Stop! Why It Still Isn’t Safe to Buy Blu-ray [Gizmodo]
By now you know waaaaay too much about Toshiba’s format-war surrender, the death of HD DVD at the hands of the larger Blu-ray armada. You may even be eying the Blu-ray players mounted proudly in point-of-sale displays at Best Buy or Wal-Mart. Pricing hasn’t come down to HD DVD player levels- and with those sinking even further, it’s unlikely they ever will - but the need to get in on the action might provoke you to spend some extra dimes. All we’re saying is DON’T! Not yet. If you don’t know why, let us explain.
The Japanese electronics retailer Edion is deeply ashamed it sold its customers HD DVD gear. So ashamed they that they’re allowing buyers to swap in Toshiba HD DVD boxes for Blu-ray players. A little more investigation reveals that the trade must occur during March, and consumers only need pay the price difference.
KAMALI
Norma Kamali to Create Line for Wal-Mart [The Budget Fashionista]
While I love the fact that Wal-Mart is trying to partner with a relatively well known designer, Kamali does run the risk of spreading herself so thin that she does none of her many extension lines well.
When I think of the typical Wal-Mart customer, this is EXACTLY what I imagine her wearing:
What to Note: Norma Kamali for Walmart [Splendora]
I never anticipated recommending a visit to Walmart but when the jersey genius that is Norma Kamali is in talks with the mega-store, I am scouting out my closest location. The designer is said to come out with a line of clothing, footwear and even home accessories in her signature sporty aesthetic-----think avant garde anoraks, wrapped maillots, and lots of slinky jersey dresses in army greens, blacks and neon hues----to be sold nationwide.
Posted by Alex Goldschmidt on Friday, February 29, 2008
Click Here for a Printer-Friendly Version
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COMMENTS
Wal-Mart Financials
2006 Sales: $348.65 Billion
2007 Sales: $370.449 Billion
Increase of 6.25%
2006 Profits: $11.284 Billion
2007 Profits: $12.574 Billion
Increase of 11.4%
Stock price: 52-week high/low: $51.57/$42.09
Last close: $49.59.
2006 Earnings per Share: $2.71
2007 Earnings per Share: $3.06
Increase of 12.9%
In the past decade, Wal-Mart has paid untold billions in wages, benefits, sales taxes, property taxes and charitable contributions. They have also paid more than $49.8 billion in INCOME taxes and have save US consumers billions upon billions of dollars. In 2007 alone, Wal-Mart paid $6,742,000,000 in income taxes. Wal-Mart paid more in income taxes than many Fortune 500 companies brought in in sales!
From Morningstar.com:
“Presently, there are 14 stocks in Berkshire’s portfolio that are also rated 5 stars by Morningstar analysts. And even better, I have positions in four of these stocks in the Ultimate Stock Picker’s Portfolio: American Express, Anheuser-Busch, Johnson & Johnson and Wal-Mart.
My colleague Joseph Beaulieu recently shared his thoughts on Wal-Mart’s 2008 prospects, “While we think that 2008 could be an economically turbulent year for Wal-Mart’s core customers, we think that the company’s position as a price leader, along with its bargaining power with its suppliers, will help the firm weather tougher times. If the company’s other initiatives--better inventory management, better merchandising, slower store expansion--begin to yield benefits this year, this could be Wal-Mart’s opportunity to shine after a few disappointing years.”
Apparently, the UFCW and its member unions have spent more than $100 million in a slander campaign designed to hurt Wal-Mart’s business because Wal-Mart won’t make its’ 1.5 million US employees join a union the employees have rejected for years. The UFCW has tried to organize Wal-Mart’s workforce. It has failed. It has tried to hurt Wal-Mart’s business. It has failed. Apparently, the UFCW is a lenient employer. If a manager at one of the “evil corporations” bashed by the Socialist Democrats in this country spent $100 million + and accomplished NOTHING, said manager would be terminated. But then, the unions are big fans of mediocrity, aren’t they?
Nat in
Saturday, March 01 at 03:53 PM
“Apparently, the UFCW and its member unions have spent more than $100 million in a slander campaign designed to hurt Wal-Mart’s business because Wal-Mart won’t make its’ 1.5 million US employees join a union the employees have rejected for years."~Nat in
Nat you forgot to talk about Walmart $100,000.00 a day budget to fight workers rights. You don’t fly the Walmart union busting plane on fumes you know.
By the way, if the “employees have rejected for years” then why does Walmart fight so hard? I guess you feel that bullshit baffles brains. Truely your post is not worth the cyber air it is written on.
R E M E M B E R
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Alex in Ontario, Canada
Saturday, March 01 at 07:03 PM
...will help the firm weather tougher times.
The way Wal-Mart upper level management blundered through relatively good times, it’s hard to imagine them shining under any economic circumstances.
But to give the devil his due, Nat, Wal-Mart did have a pretty good year in ‘07. Of course it’s not too difficult to improve your numbers when you don’t lose nearly a billion dollars in Germany.
Your ‘colleague’ Nat, failed to factor in the weakening dollar. The price of all those Chinese goods are going up.
Ken V in Texas
Sunday, March 02 at 06:16 AM
Truely your post is not worth the cyber air it is written on.
And yours, Alex from Canada? Please enlighten us “ignorant Amercians"…
bbrd in
Sunday, March 02 at 07:25 PM
bbrd:” us ignorant Amercians”...How ignorant when you,bbrd,as an American ,can’t spell American.Touche!
ddrb in
Sunday, March 02 at 09:44 PM
I find it interesting that when someone puts a group of words in quotation marks (eg. “____"), they are then saying that they are quoting someone.
Please show where your quotation came from bbrd or are you just making up things?
R E M E M B E R
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Alex in Ontario, Canada
Sunday, March 02 at 11:47 PM
I imagine with the US dollar dropping like a lead balloon that now would be a good time for Wal-Mart to transition to local producers.
closets in miami FL
Tuesday, March 04 at 10:44 AM
Here goes another corporate criminal, businessman lawbreaker off to prision (Monday March 3). This is the guy who was the executive who operated Dominion Grocery stores and stole the employee’s pensions. It was the CAW (Canadian Auto Workers Union) that got half the money back from him in court and into the proper hands (the workers). Well now he gets to spend some time in your prison system. Looks like a businessman who is dishonest, remains dishonest through his whole life. Have fun Conrad Black.
Defiant Black starts prison term
Frank WashkuchMarch 04, 2008
Conrad Black, whose name often follows “disgraced media baron,” began a six-and-a-half year prison sentence on Monday, reporting to Coleman Federal Correctional Complex in Florida. Black, convicted last July of three counts of fraud and obstruction of justice for swindling millions of dollars from Hollinger International, had sought to stay free on bond, claiming there was a strong chance his conviction would be overturned. The Churchill-referencing Black is reportedly “at peace” with his incarceration and planning to teach French in prison
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Alex in Ontario, Canada
Tuesday, March 04 at 06:40 PM
Alex;
Six and 1/2 years for stealing millions, sounds rather lenient. If the CAW union got only half back, he must have spent the rest, nice wages for 6 1/2 years prison time. And, if it’s in Florida, it’s probably one of those ‘white collar’ prisons, with no fence, no cells and a golf course.
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