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

President Obama: “We Will Pass The Employee Free Choice Act”

Good news for Wal-Mart workers today.

After a few months of other issues taking top priority, most notably the economy and the economic stimulus package, President Obama reminded us that he still plans to pass the Employee Free Choice Act. The Wall Street Journal reports:

President Barack Obama told AFL-CIO union leaders Tuesday in a videotaped address that the controversial Employee Free Choice Act will pass, signaling his full backing for legislation that makes union organizing easier.

“We will pass the Employee Free Choice Act,” President Obama told more than 100 top labor officials in a closed-door meeting at the labor federation’s winter gathering in Miami, according to people at the meeting.

There is no telling when exactly the bill will be introduced in Congress, but when it is it should pass the House vote easily. The concern is the Senate. If the Democrats can rally full support in the Senate they should have 59 votes - assuming Al Franken is confirmed and voting. All that leaves is one Republican to vote for EFCA to pass the bill. The most talked-about candidate is Pennsylvania’s generally-pro-labor Arlen Specter, but other moderates like Maine’s Olympia Snowe and Susan Collins are in the mix as well.

And there’s also the concern that one or more Democratic Senators are wavering on their support for Employee Free Choice under heavy influence from the strong and well-funded corporate lobby by Wal-Mart and other corporate interests. The prime suspects are - big surprise - Arkansas’ two Democratic Senators Blanche Lincoln and Mark Pryor.

Arkansas Business writes more today about the bind Blanche Lincoln finds herself in. She’s undoubtedly receiving suffocating pressure from the Walton Family and the Arkansas business lobby to oppose EFCA - but she’s also up for re-election in 2010, and needs to support of big name Democrats. The netroots as well, likely won’t be friendly to any Democrat who turns tail on Employee Free Choice.

We’ll keep you posted. 

Posted by Eric Bull on Wednesday, March 04, 2009

Click Here for a Printer-Friendly Version

COMMENTS

With all the big boys against the EFCA, should tell the workers they are on to something really good!

no name in
Wednesday, March 04 at 09:38 PM

Absolutely The Funniest Joke Ever !

. . . ON US
Does anybody out there have any memory of the reason given
for the establishment of the DEPARTMENT OF ENERGY during the
Carter Administration?  Anybody?  Anything?  No?
Didn’t think so.
Bottom line . . we’ve spent several hundred billion
dollars in support of an agency the reason for which not one
person who reads this can remember.
Ready?  It was very simple, and at the time everybody
thought it very appropriate.

The Department of Energy was instituted 8-04-1977 TO LESSEN
OUR DEPENDENCE ON FOREIGN OIL.  HEY, PRETTY EFFICIENT, HUH?

AND NOW IT’S 2009, 32 YEARS LATER, AND THE BUDGET FOR
THIS NECESSARY DEPARTMENT IS AT $24.2 BILLION A YEAR, THEY
HAVE 16,000 FEDERAL EMPLOYEES, AND APPROXIMATELY 100,000
CONTRACT EMPLOYEES AND LOOK AT THE JOB THEY HAVE DONE!

THIS IS WHERE YOU SLAP YOUR FOREHEAD AND SAY ‘WHAT WAS I THINKING?’
Ah yes, good ole beauocracy. And now we are going to turn the Banking system over to them? God Help us.

Another Liberal Democrat blunder- and from the peanut gallery..........The monkey Ken V will spew some B/S.

Hilarious in
Wednesday, March 04 at 10:28 PM

I am against President’s Obama Employee Free Choice Act. I am currently a Wal-mart in Tewksbury. If this bill passes, I believe that they would shut-down several Wal-Mart nation-wide, this is because Wal-mart is extremely against any form of union. By passing this bill; Wal-Mart would cut jobs and rise prices to pay for the employees’ salaries. Example on why unions are bad is because grocery store near my home that has a union is extremely short-staff and the prices are ridiculous high.

Christopher Roy in Chelmsford, MA
Wednesday, March 04 at 10:33 PM

Hilarious the Imbecile-

You would have to be completely and willfully irresponsible to deliberately evade understanding the United States Department of Energy.

Responsibility for nuclear weapons-

In the United States, all nuclear weapons deployed by the United States Department of Defense (DOD) are actually on loan to DOD from the Department of Energy (DOE), which has federal responsibility for the design, testing and production of all nuclear weapons. DOE in turn uses contractors to carry out its responsibilities at the following sites:

* Design of the nuclear components of the weapon: Los Alamos National Laboratory and Lawrence Livermore National Laboratory
* Engineering of the weapon systems: Sandia National Laboratory
* Manufacturing of key components: Los Alamos National Laboratory and Y-12 National Security Complex
* Testing: Nevada Test Site
* Final weapon/warhead assembling/dismantling: Pantex

Perhaps it is more likely that as the ignorant unAmerican coward Hilarious that you are, you don’t want the engineering, testing, manufacturing and design labs to support the DoD or the Pantex assembly operations-

Pantex is unionized where the workers and guards have the right and employee free choice to join a union. WalMart employees don’t have that right as WalMart Stores Inc. illegally prohibits any unionization of its employees in the United States of America.

WalMart/Waltons- Ask not what your corporate employer can do for your wages or health care, ask only what you can do for your corporate employer multi-billionaire’s ever increasing stolen, illegally, immorally and unpatriotic gotten inherited wealth.

SanDiegoView in WalMart finances Chinese Communism
Thursday, March 05 at 04:59 AM

“.... I believe that they would shut-down several Wal-Mart nation-wide, this is because Wal-mart is extremely against any form of union. By passing this bill; Wal-Mart would cut jobs and rise prices to pay for the employees’ salaries.....”
~Christopher Roy in Chelmsford, MA

Walmart already doesn’t have staff because they are always trying to hire. I doubt that they would make their own problems worse.
Your other comment about raising prices is probably the same line the slave traders used to use. I think the real truth is that each of the Walton family won’t be sitting on as many billion dollars each.

Alex in Ontario, Canada
Thursday, March 05 at 05:32 AM

We can all see what the unions did the North American auto companies. (and a few plants in Canada)

But heck, that just solidifies more votes for the Democrats.

jr reid in Ft Worth
Thursday, March 05 at 06:37 AM

careful what you hope for unions dont get everything for you that they promise you too.i know from experience

MATT IN in gresham,oregon
Thursday, March 05 at 08:53 AM

Seems as if Mcdonalds is following the walmart management model too. No wonder I have heard they are inside walmarts.

Here is an interesting article I thought I would pass on:

Subject: S. American beef @ Mcdonalds

THIS IS A GOOD DECENT MAN WHO TOOK THE TIME TO WRITE THIS AND: HE SIGNED THE STATEMENT AND: INCLUDED HIS CONTACT INFO:

I’m sure those of you who aren’t in the cattle business don’t understand the issues here. But to those of us whose living depends on the cattle market, selling cattle, raising the best beef possible… This is frustrating.

This will keep us from ever stopping there again, even for a drink.
The original message is from the Texas Cattle Feeders Association American cattle producers are very passionate about this.
McDonald’s claims that there is not enough beef in the USA to support their restaurants. Well, we know that is not so. Our opinion is they are looking to save money at our expense. The sad thing of it is that the people of the USA are the ones who made McDonald’s successful in the first place, but we are not good enough to provide beef.

We personally are no longer eating at McDonald’s, which I am sure does not make an impact, but if we pass this around maybe there will be an impact felt.

Please pass it on. Just to add a note:

All Americans that sell cows at a livestock auction barn had to sign a paper stating that we do NOT EVER feed our cows any part of another cow. South Americans are not required to do this as of yet.

McDonald’s has announced that they are going to start importing much of their beef from South America . The problem is that South Americans aren’t under the same regulations as American beef producers, and the regulations they have are loosely controlled.

They can spray numerous pesticides on their pastures that have been banned here at home because of residues found in the beef. They can also use various hormones and growth regulators that we can’t. The American public needs to be aware of this problem and that they may be putting themselves at risk from now on by eating at good old McDonald’s.
American ranchers raise the highest quality beef in the world and this is what Americans deserve to eat.. Not beef from countries where quality is loosely controlled. Therefore, I am proposing a boycott of McDonald’s until they see the light.

I’m sorry but everything is not always about the bottom line, and when it comes to jeopardizing my family’s health, that is where I draw the line.

I am sending this note to about thirty people. If each of you send it to at least ten more (30 x 10 = 300) .... and those 300 send it to at l east ten more (300 x 10 = 3,000) ... and so on, by the time the message reaches the sixth generation of people, we will have reached over THREE MILLION consumers!

I’ll bet you didn’t think you and I had that much potential, did you? Acting together we can make a difference.. If this makes sense to you, please pass this message on.

David W. Forrest, Ph.D ., PAS, Dipl.
ACAP Department of Animal Science
Texas A&M;University
Phone (979) 845-3560
Fax (979) 862-3399
2471 TAMU College Station , TX 77843-2471

Michelle in
Thursday, March 05 at 10:52 AM

SanDiego View The wishy-washy Flip- Flopping -washed up hippy from the polluted beach.

You are willfully irresponsible and a fake and phony- to rant about the D.O.E. on this blog and then on other blogs put down this country for being in a war.

You liberal whacked out hypocrites cant figure out what you want, first your antiwar, then you defend a Department within the Federal Government that produces Nuclear weapons, when their original mission was to lessen our Countrys dependence on foreign oil.

Could it be, a wacked out peanut farmer & Lberal Democrat was the one who instituted the D.O.E.? What would be your take on the D.O.E. if a conservative Republican had instituted it?

Hilarious in
Thursday, March 05 at 11:19 AM

Michelle: Thank you for posting this letter.

How about the hormones injected into these catlle?Much has been made of the hormones in dairy cattle here in the US,and rightfully so. What hormones are the South American beef receiving?

I would also like to mention the preponderance of GMO crops south of the border.BTW, these terminator seeds produce only one crop,and are sterile after ward. (So are many of the South American women who have eaten corn form these crops.*)

Global Research.ca has SUPERB articles from all over the world about Genetic modification of crops. I cannot recommend it highly enough.

In particular, the book Seeds of Destruction by Bill Engdahl should be read by everyone who is concerned about the politics of food and the gene splicing of agri-processors like Monsanto and Cargill.

I wrote a comment here a couple of days ago about Monsanto and the patents held by Delta Pine and Land-a division of Jackson Stephen’s form Little Rock.[Jackson Stephens is the investment firm that was chosen for WalMart’s IPO many years ago].

PS:I don’t know if you are familiar with Morgellan’s disease, but ,reportedly,the DNA of the fiber has been linked to GMO crop fungicide,incidentally.

*Engdahl-"Seeds of Destruction”,Global Research.ca

ddrb in
Thursday, March 05 at 11:53 AM

Monsanto Buys ‘Terminator’ Seeds Company Relations between Monsanto, Delta & Pine Land and the USDA, on closer scrutiny, .... Jackson Stephens, who founded the group with his brother, Witt, ...
www.globalresearch.ca/PrintArticle.php?articleId=3082 - 37k - Cached - Similar pages

Monsanto Aug 27, 2006 ... He meant agribusiness GMO giants like Monsanto, DuPont or Dow. .... The Rose law firm was the house law firm of Jackson Stephens’ Stephens ...
www.engdahl.oilgeopolitics.net/GMO/Monsanto/monsanto.html - 44k - Cached - Similar pages

ddrb in
Thursday, March 05 at 12:02 PM

http://www.walmartandunions.com/hitman.html
Go to 2.40 in and this will show how walmart will not let unions in their stores. In a little of background the guy in the video is a former walmart manager and he work for them for 17 years.

Christopher Roy in Chelmsford, MA
Thursday, March 05 at 01:39 PM

Christopher Roy,

“this will show how walmart will not let unions in their stores.”

Have you ever asked yourself WHY Wal-Mart doesn’t want a union in it’s stores?  Think about it, if YOU had a business and saw other businesses that had unions, going bankrupt (Like the airlines and auto companies), would YOU want to get a union and possibly go bankrupt yourself?

The problem is, you are looking at it from the EMPLOYEE point of view, not the company’s, but you have to remember, without the company, the employee is out of work!!

RDS in
Friday, March 06 at 11:39 AM

“The problem is, you are looking at it from the EMPLOYEE point of view, not the company’s, but you have to remember, without the company, the employee is out of work!!”

No, dumb ass, what you seem to forget is, with out the workers the company can’t exist!

By your reasoning we should all just go back to the days before the unions and back to the ole “company store” era and the world will be a better place for it.

As for the Auto industry. Have you been paying any attaint ion to where the problem is? Let me lay it out for you. HEALTH CARE COST and DEREGULATION! Just as we on the on the left have been saying for years. Companies in the U.S. can’t be competitive with other countries out there that provide universal healthcare for their people. You in your own words have made this case many times. You have blamed the Unions for the problem but the chickens have finally come home to roost and everyone is finally starting to see that the DEREGULATION of the healthcare industry has been a major contributor to the bankruptcy of these and so many other companies.

Big D in
Saturday, March 07 at 04:07 AM

with unions big d what you get is everything has to be done by seniority and you give excuses like you are at the bottom end because you are at the lower bottom 20% of a shift we cant be lenient with you even though you have never been late called in sicked or missed any work time excluding vacations.you get excesive favoritism with unions and babying of lazy and incompetent worker that claim they are hurt and make every excuse in the book to get out of working. and unions that could care less about the people at the low end of the seniority lists.unions make it harder for companies to fire lazy and incompetent workers for missing work for questionable reasons.i know sir ive worked for two union companies.be careful what you wish and hope for.

MATT IN in gresham,oregon
Saturday, March 07 at 05:47 PM

Big D,

“No, dumb ass, what you seem to forget is, with out the workers the company can’t exist!”

But, YOU ‘dumb ass’, seem to forget that Wal-mart DOES have workers and seem to be abe to keep getting them!!  And, you are right, when Wal-Mart STOPS getting the workers they need, they will have to change or go out of business!!  Until then, the workers NEED Wal-Mart more than Wal-Mart needs them, they have plenty of applications to fill their positions!!

“By your reasoning we should all just go back to the days before the unions”

I NEVER said anything about getting rid of the unions, all I have said, is that SOME unions have put pressure on companies, to the point that they are having problems ‘existing’!!

“Let me lay it out for you. HEALTH CARE COST and DEREGULATION!”

Enlighten us, just WHO was it, that pushed for companies to give healthcare as a benefit?  Everyone knows, that healthcare prices rise, as insurance or the government foots the bill!!  Maybe, if people had to pay for their own healthcare, the cost wouldn’t be so high!!

With the Auto industries, it is mainly the union gained ‘legacy costs’ that are the main problem, that’s why they have been ‘buying off’ those ‘legacy costs’!!  Also, they have those ‘high wages and benefits’ dragging them down, that’s why the union finally backed down and lowered the starting rate for ‘new hires’!!  And, if GM ends up in bankruptsy, the UAW will get it’s legs cut out from under them, by the bankruptsy court!!

“the chickens have finally come home to roost”

You have that right, but they ‘have finally come home to roost’ for the unions and their greedy ways!!  Won’t be long, before those $73.00/hr. (wages and benefits) will be put on the level with all of the other factory workers in this country!!

And, sorry, but even if that ‘card check’ bill passes, unions won’t be any better off, because, people who DON’T want a union NOW, won’t want one later, and those who do get one, might just find out, it may not be what they expected!!

“Companies in the U.S. can’t be competitive with other countries out there that provide universal healthcare for their people. You in your own words have made this case many times.”

When did you ever hear me say that I was in favor of Universal healthcare?  The three main problems with healthcare are: High Malpractice Insurance, which requires doctors to do unnecessary tests to keep from getting sued, people overusing the Emergency Room for minor problems and the AMA (the doctor’s version of a union)!! 

Also, the high cost of the multitude of drugs being handed out like candy, doesn’t help either, there is almost a drug for everything nowadays, we are becoming to drug dependant and destroying our immune systems!!

RDS in
Saturday, March 07 at 10:50 PM

RDS-

“With the Auto industries, it is mainly the union gained ‘legacy costs’ that are the main problem, that’s why they have been ‘buying off’ those ‘legacy costs’!!  Also, they have those ‘high wages and benefits’ dragging them down, that’s why the union finally backed down and lowered the starting rate for ‘new hires’!!  And, if GM ends up in bankruptsy, the UAW will get it’s legs cut out from under them, by the bankruptsy court!!”

I suppose NONE of GM’s problem stem from its 49% ownership of GMAC which holds over 2 MILLION home loans!
The mortgage crisis has had NOTHING to do with GM’s problems?

from wikipedia

“In December 2008, after GMAC had been hit with huge losses in both its mortgage and auto loan businesses, the Federal Reserve Board approved with a 4 to 1 vote GMAC’s application to transform itself into a bank holding company “in light of the unusual and exigent circumstances” affecting the financial markets. The dissenting vote was cast by Elizabeth A. Duke.[1]

The move allowed GMAC to tap as much as $6 billion in government bailout money. As of Dec. 17, bondholders had agreed to convert less than 60 percent of their debt into preferred shares. Some big bondholders like the investment firm Pimco have said they do not intend to exchange bonds unless Cerberus Capital Management puts more money into the company. Cerberus will be forced to cut its stake in the new bank holding company and become a passive investor, a move which will leave Cerberus with less than 14.9 percent of the voting shares in GMAC and 33 percent of the total equity in the firm. As a condition of the Federal Reserve’s approval, General Motors will have to reduce its ownership stake in GMAC to less than 10 percent, from 49 percent. The change would very likely also scuttle Cerberus’s plans to merge Chrysler Finance, another auto-lending business it controls, into GMAC.[1]

The New York Times found the Fed’s decision to approve GMAC is particularly controversial. GMAC has to make several changes to its structure to alleviate concerns. Critics had raised questions about GMAC’s financial strength, its ownership by a private equity firm and whether it was involved in too many commercial activities to become a bank.[1]”

“Won’t be long, before those $73.00/hr. (wages and benefits) will be put on the level with all of the other factory workers in this country!!”

There is not a worker making the $73/hr wages and benefits by themselves.  That figure is factoring in the cost of the retirees benefits divided by the current work force.  The actual package is about $47/hr without the retirees factored in.  Well in line (and a little above) the rest of the auto industry.  The whole advantage and purpose of having the union is the DEFINED BENEFIT RETIREMENT.  How does the UAW retirements look compared to the 401k’s of the non-union retiree’s right now?
Take a look around ALL aoutomotive industries are struggling right now.  While the UAW did restructure their contract and change starting wages they will still collect a defined benefit retirement.  So while they lose some money on the front end there is still security in the end.

Wal-Mart start paying your way! in Baraboo, WI
Sunday, March 08 at 02:56 PM

Wal-Mart start paying,

“I suppose NONE of GM’s problem stem from its 49% ownership of GMAC which holds over 2 MILLION home loans!
The mortgage crisis has had NOTHING to do with GM’s problems?”

Yup, that IS part of the problem, but, that is because GMAC went from Auto financing, adding mortgage loans, ‘bad move’!!  Without that mortgage loss, maybe they could be financing more Autos!!

“The whole advantage and purpose of having the union is the DEFINED BENEFIT RETIREMENT.....While the UAW did restructure their contract and change starting wages they will still collect a defined benefit retirement.  So while they lose some money on the front end there is still security in the end.”

Not if they ‘choose’ to take the $50,000.00 ‘defined benefit’ buyout, now!!

“How does the UAW retirements look compared to the 401k’s of the non-union retiree’s right now?”

I don’t know, but I retired with a 401K valued at about $90,000.00 after 13 years with the non-union company I worked for, making an average of $10.00/hr. (Started out at $5.00/hr, ended up at $15.00+/hr.!!

RDS in
Monday, March 09 at 01:07 AM

Does ANYBODY believe that RDS has this level of expertise to rebutt Baraboo,unless he’s (RDS) a shill?

ddrb in
Monday, March 09 at 03:46 PM

Boo: How about some background on the GMAC ownership by a private equity firm,Cerebus,as mentioned in your post upthread. Controversial is an understatement when it comes to the ownership.

Here’s some info from Wikipedia:

Cerberus Capital Management
Type Limited Partnership
Founded 1992

Total assets $24 billion

Cerberus Capital Management, L.P. is one of the largest private equity investment firms in the United States. The firm is based in New York City, and run by 48-year-old financier Steve Feinberg. Former U.S. Vice President Dan Quayle has been a prominent Cerberus spokesperson and runs one of its international units.

History
Founded in 1992, Cerberus is named for the mythological three-headed dog that guarded the gates of Hades. While many of its peers have bought out companies in order to strip assets and sell on for a profit, Cerberus builds its reputation on identifying firms that are undervalued, and assisting in rejuvenating them by working with current management.[1] Feinberg has stated to his employees that while the Cerberus name seemed like a good idea at the time, he later regretted naming the company after the mythological dog.[1]

The company has been a very active acquirer of businesses over the past several years and now has sizable investments in automotive, sportswear, paper products, military services, real estate, energy, retail, glassmaking, transportation, and building products. In 2006, its holdings amounted to $24 billion.

On October 19, 2006, John W. Snow, President George W. Bush’s second United States Secretary of the Treasury, was named chairman of Cerberus.

J. Ezra Merkin is a partner in Cerberus. Merkin invested his funds into Cerberus and its portfolio companies. His Gabriel fund invested $79 million in Chrysler, $66 million in GMAC and $67 million in Cerberus partnerships, according to year-end statements.[2] The Gabriel Fund was a feeder fund for Bernard L. Madoff Investment Securities LLC.[3]

Japanese bank, Aozora, a Cerberus company lost $ 137 million to Bernard L. Madoff Investment Securities LLC. Aozora was part of the investment group that acquired 51 percent of GMAC from General Motors. [4]

[continued]

ddrb in
Monday, March 09 at 07:21 PM

Chrysler

During the U.S. automotive industry crisis of 2008, Cerberus was lobbying for a government bailout of troubled automaker Chrysler Corporation, of which it owns 80%, but refused to inject cash into Chrysler,[5] as Sen. Bob Corker pointed out at a hearing about the economic needs of the American automobile industry on December 4, 2008.

In response to questioning at a hearing before the House committee on December 5, 2008 by Rep. Ginny Brown-Waite, Chrysler President and CEO Robert Nardelli said that Cerberus’ fiduciary obligations to its other investors and investments prohibited it from injecting capital[5].

GMAC
Cerberus acquired 51 percent of GMAC from General Motors in 2006 for $7.4 billion. [6]

In 2006, Cerberus appointed Merkin as nonexecutive Chairman.[7]

As of October 15, 2008, GMAC had $173 billion of debt against $140 billion of income-producing assets (loans and leases), some which are almost worthless, in addition to GMAC Bank’s $17 billion in deposits (a liability). Even if GMAC liquidated the loans and leases, it couldn’t pay back all of its debt.[8]

In a statement, on December 10, 2008, GMAC said, “GMAC LLC, the auto and home lender seeking federal aid, hasn’t obtained enough capital to become a bank holding company and may abandon the effort, casting new doubt on the firm’s ability to survive. A $38 billion debt exchange by GMAC and its Residential Capital LLC mortgage unit to reduce the company’s outstanding debt and raise capital hasn’t attracted enough participation.”

This was due in part because Cerberus had raised the credit requirements for car loans so high, virtually eliminating leasing, that they have been responsible for a sizable chunk of lost sales at GM due to customers inability to secure financing, in order to pressure GM into selling or trading their remaining stake in GMAC. [9] GM stands to write-off over a billion dollars in lost residuals– which they paid up front to GMAC. GMAC’s exposure to the gap in residual values is around $3.5 billion. [10]

In December, 2008, Cerberus subsequently informed GMAC’s bondholders that the financial services company may have to file for bankruptcy if a bond-exchange plan is not approved. The company had previously said it may fail in its quest to become a bank holding company because it lacks adequate capital.[11]

In January, 2009, Merkin resigned from his chairmanship as a condition by the U.S. government. [12]

Five days earlier, the Federal Reserve granted GMAC bank holding company status, so it could get access to the bailout money. [13]

On December 29, 2008, the U.S. Treasury gave GMAC $5 billion from its $700 billion Troubled Asset Relief Program (TARP).

ddrb in
Monday, March 09 at 07:23 PM

So now and Dan Quayle.

And if THAT’S not enough audacity and mendacity,type in Cerebus and Leumi Bank for the ULTIMATE indignity.

And one still wonders where Madoff made off with the $$$?

ddrb in
Monday, March 09 at 07:28 PM

BTW: One can enter into the above timeframe of Cerebus and Merkel’s activities,the date of December 11,2008.

That is the date when Bernie Madoff was arrested,at his Manhattan penthouse.

ddrb in
Monday, March 09 at 07:42 PM

Interesting those two dates- December 10 and December 11,2009.~~~~~~~~~~~

In a statement, on December 10, 2008, GMAC said, “GMAC LLC, the auto and home lender seeking federal aid, hasn’t obtained enough capital to become a bank holding company and may abandon the effort, casting new doubt on the firm’s ability to survive.

December 11,2008.

That is the date when Bernie Madoff was arrested,at his Manhattan penthouse,admitting fraud.

Coincidence?

ddrb in
Monday, March 09 at 07:50 PM

Pardon,that should read 2008,not 2009- in the above post.

ddrb in
Monday, March 09 at 07:52 PM

RDS-

“I don’t know, but I retired with a 401K valued at about $90,000.00 after 13 years with the non-union company I worked for, making an average of $10.00/hr. (Started out at $5.00/hr, ended up at $15.00+/hr.!!”

Lets do the math

$90,000 desired goal after 13 years

$4,200/year at 8% rate of return for 13 years will give you $90,200

$4,200/year for 13 years is $54,600 principle invested

$600/year 3% company match of average $20,000 yearly income $7,800

$46,800 individual investment.

$260,000 13 year total income - $46,800 401k investment (pretax) = $213,200 pretax income.

$213,000 / 13 years = $16,400

$16,400 - 19.5% (15% Fed IRS tax bracket and 4.5 AR tax bracket) = $13,202

$13,202/year average $264 week.

Let me get this straight.  You lived on average of $264 a week for 13 years.  You worked 13 years for an average of $6.60 after tax and retirement?  Sounds like you needed a union. Notice I didn’t take out anything out of your paycheck for health care.

Wal-Mart start paying your way! in Baraboo, WI
Tuesday, March 10 at 12:48 PM

If it passed and several store got the necessary signatures, then Walmart would just shut the stores down. 

The only thing it would do is create a media storm of public symphathy for people who just want to earn a living wage.  That media storm MIGHT put pressure on the company to actually offer profit-sharing, rather than their bullshit MyShare program.

Likely though, they’d combat that public sympathy by raising prices suddenly.  People will stop caring about the folks that make $7.65/hr if they have to pay more for their mass produced Chinese shit.

Walmart will do anything to revive it’s public image, from going green and obsessing about energy saving light bulbs to spewing an almost socialistic propaganda message about saving money and equalizing the standard of living.  The one thing that they won’t do is pay a living wage, unless you devote 10 years to the company.  Even then, they’ll cap your hourly salary if you get too high.

Walmart Employee in
Tuesday, March 10 at 09:30 PM

Saving money and living better isn’t really propaganda...when you apply it to the actual Walton family themselves.

ddrb in
Wednesday, March 11 at 09:52 AM

“If it passed and several store got the necessary signatures, then Walmart would just shut the stores down.”

ALL OF THEM!?!?!?!?!?

Wal-Mart start paying your way! in Baraboo, WI
Thursday, March 12 at 02:21 PM

Matt is like your neighbor’s unchained dog that comes over and takes a shit in your front yard and pretends it was a honest story or rational opinion. RDS of course approves of whatever and wherever his dog craps, it is the Walmart internet way.

Dave in
Sunday, March 15 at 04:14 AM

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