Wal-Mart’s Latest Failure?

This does not surprize me in the least. This whole Chinese/Global economy thing has ALWAYS been About taking the wealth of the United States and redistibuting it (at least the part of the wealth that once belonged to the middle class). Well it’s been redistributed and America now has lost most of its middle class. In fact they’ve come up with a great spin word “Working Class”. See this draws a distinct line between the impoverished and the “working poor”. This way people can still feel superior. They can get down-sized, go to work for Wal*Mart and hold their head high because they are still superior to the other poor slobs trying to get by. The thing that rings true is when the Working Class start lining up right next to the working poor to collect their Government benifits. Very Uncompfortable… So we keep giving China more and more of the wealth that once belonged to the MIDDLE CLASS, and they can take that money, and take our jobs, and put on a real hum dinger of an Olympics. And the all powerful Wal*Mart the very source of this movement of our middle class’s wealth to China, can’t make it in China. Did they actually think that they were that special? China doesn’t NEED Wal*Mart anymore…

As I keep reminding people: Don’t forget to sell that Wal*Mart Stock! And make sure that you State’s and Your Own pension plan isn’t loaded down with it, or you might just lose that as well.

China may not need Wal-Mart but Wal-Mart certainly needs China. Without China they’d have almost nothing to sell!!

1) Wal*mart can make this all go away. Ask the manufacturers that they sent to China to come back to America. 2) Stop abusing it’s employees and it’s position of power and truly use it in an EXTREME pro-American way.
Why don’t they do this? Because they are intrinsically evil, and greedy. They’d grind their deceased employees into pet food if it would turn a proffit.

Sending Middle America’s Best Paying Jobs to China? Bad.
Taking Middle America’s Money because you made them Broke? Bad
Believing Middle America Will Put Up With It Indefinitly? Unforgivable.

Watching Wal*Mart’s Business Plan Fail? Priceless.
John Wayne would be proud.

Watching Walmart kill small business?  Unfortunate
See Walmart disrespect workers rights? Very sad
Watching our production industry exit?  Disturbing
Citizens seeing Walmarts true colours?  Priceless

R E M E M B E R
J O N Q U I E R E
Q U E B E C
Home of Walmart Worker Abuse

R E M E M B E R
J A C K S O N V I L L E
T E X A S
Home of Walmart Worker Abuse

more garbage from jane as well.i guess all your favorite stores jane need china too because they all buy the same crap from china that walmart does and its funny you dont nitpick them for doing it proving that wm haters like yourself mostly rich spoiled elitists are hypocrites

..12 years in China, has failed to become profitable...

Stumbling in the UK, hanging by a thread in Japan, worker unrest in Canada and Mexico!

I wondered in print about this awhile back. It’s one thing for the Chinese to make cheap crap, but quite another when it comes to buying it back. If you waltz into a Wal-Mart in China, where will all the merchandise be from?

There is scarcely anything in the world that some man cannot make a little worse, and sell a little more cheaply. The person who buys on price alone is this man’s lawful prey. ~ John Ruskin

who cares ken shut your big mouth we are sick of your you know what dont stink attitude about wm.you are not as knowledable about wm as you think you are pal.

MATT IN in gresham,oregon

You and people like you are the ones responsible for American’s economic woes. I’m surprized that you have time to pull your head out of the sand to post here or anywhere else. Did your 401K have any Freddie or Fannie Stock in it?

I’m an EMF BABY!!!!

Bobby,

“You and people like you are the ones responsible for American’s economic woes.”

And, you and people like you, are the ones that consistantly fall for the liberal propaganda!!

Here are two examples of what I’m talking about:

Democrats - “It is hard for low income and lower middle class people to own a home, because they aren’t able to save enough for a downpayment and everybody should have the opportunity to own a home.”

Republicans - “That all sounds nice, but people have to have some equity or something to lose.”

Democrats - “Are you trying to deprive the lower income people of a chance at the American Dream?”

Enter no down, unsecured sub-prime mortgages!!

Follw with the subprime housing crisis!!

Democrats - “Bush has the economy screwed up with those unsecured mortgages!”

Next:

Democrats - “We need to raise the minimum wage.”

Republicans - “But hardly anybody works for the minimum wage, the only thing that will happen if you raise it, will be many high school and starter workers will not be able to get jobs.”

Democrats - “That’s baloney, it will make it better for high school students and starter workers.”

Enact minimum wage increase:

Results, next unemployment report, shows a DECREASE in jobs, mainly high school student jobs!!

Reaction: Democrats - “The Bush Administration is CAUSING job loss.”

Recently on CNBC, Robert Reich (Clinton’s Labor Secretary) said that Bush had created less jobs, then when challenged on that point, he admitted that a President CAN’T create jobs!!  A short while later, he said, “Clinton created a lot of jobs”!!

It all boils down to telling people what they want to hear and then if it all goes wrong, blame the other side!!

Remember:  Democrats say they represent the ‘poor’, so they try to keep people as ‘poor’ as they can, so they don’t lose their base!!

RDS

“Democrats - “We need to raise the minimum wage.” “

This is just result of the off shoring of jobs. Two wrongs don’t make a right.

Walmartization:
Wal*Mart wants government funded health care. Not because people may need it, They just don’t want to pay for it. Wal*Mart is pretty close to “Nationalized Retail”

I personally, have never seen the Wal*Mart issue to be one of partisan politics. I’m sure that both Democrats and Republicans shop there and own the stock. Let’s not forget that Hillary Rodham Clinton was on the board for years and in the top executive photo taken while Sam was still alive out of 16 people she is in the front row sitting directly next to Sam on his right. So how could this be a Republican/Democratic issue. A good idea is a good idea no matter who it comes from a soccialist or a facsist. Hell look at America’s Space Program! Diversity and Opportunity in the Marketplace is Essential to America’s Future. Wal*Mart presents a Clear and Present danger to the American Way of Life and if shows a big crack in the ideals of the more conservative ecconomist. It’s still a crack. If it ain’t broken don’t fix it… Well it’s Broken. If we want to fix it the conservative way, we just sell our stock and stop shopping there. Which is what I have always preached. If you enjoy less choice and opportunity in the market place, then everything is fine.

RDS
A clear example of the contradictions in your logic:

“Remember:  Democrats say they represent the ‘poor’, so they try to keep people as ‘poor’ as they can, so they don’t lose their base!!”

Hillary Rodham Clinton was on the board for years and in the top executive photo taken while Sam was still alive out of 16 people she is in the front row sitting directly next to Sam on his right.

Maybe you are right after all....

Change Wal*Mart? Sell your stock, Tell your elected official’s to divest the Wal*Mart stock held in Government Pension Plans and dont Shop there. It’s the “Right” thing to do.

“It all boils down to telling people what they want to hear and then if it all goes wrong, blame the other side!! “ RDS~~~~~~~~~~~Sounds like something that ought to be a Rovian, Republican bumper “snicker”!

Asian Stocks Soar on Fannie, Freddie News

“The bailout should provide more security for Asian central bankers, sovereign wealth fund managers, and other investors in U.S. government paper, says Elena Okorotchenko, an analyst in Singapore with Standard & Poor’s (like BusinessWeek, a unit of The McGraw-Hill Companies [MHP]). American policymakers “are not going to allow a systematic crisis,” she says, and that means Asians are unlikely to change their investment strategies. “As long as they invest in highly rated instruments, there is no concern,” says Okorotchenko. “The government of the U.S. has signaled that it stands very strongly behind both Freddie and Fannie.”

Still, for all the relief in most Asian markets, there was little joy in China on the news of the Fannie Freddie bailouts. China has some $300 billion invested in Fannie and Freddie paper, but news of the rescue plan did little to help local shares. The Chinese markets defied the regional trend, with both Shanghai and Shenzhen markets dropping (Shanghai down 2.7% and the smaller Shenzhen market off 4.1%). The falls were driven in part by local concerns amid worries about the Chinese property market.

Beijing’s bankers are not going to find much solace in Paulson’s move, argues Andy Xie, a former Morgan Stanley (MS) economist who now is an independent economist and newspaper columnist in Shanghai. The Fannie and Freddie crisis “has been a nightmare for the Chinese leadership,” he says. With all of China’s financial institutions exposed to the U.S. companies, “China is effectively a hostage in this situation,” he says. While the new plan will “kind of revive the market,” adds Xie, the Chinese are still trying to answer the bigger question. “The issue is, can China get out?” he asks. “China is so big in the market, if China gets out then the market will crash.”

Xie is also less confident Chinese bankers will be willing to invest in the U.S. as much as they have in the past. Of China’s $2 trillion in foreign reserves, two-thirds are in U.S. treasuries or agency paper, he says. “This for China has been a near-death experience,” he says. “In the future, Chinese leaders will be very cautious about buying U.S. paper. This will lead to a wholesale change in the direction of managing China’s wealth.”

(Einhorn is Asia regional editor in BusinessWeek’s Hong Kong bureau. Moon is BusinessWeek’s Seoul bureau chief. Tashiro is a correspondent for BusinessWeek based in Tokyo.) ~~~~~~~~~~~~~~~~~~~~~~LESS Chinese investment in U.S.???

ddrb in
Well it is going to be interesting watching government bailout after bailout. As I’ve said before soon we will only have Wal*Mart employees taking turns selling things to each other. On the other hand, an American company should really think twice before investing in manufacturing in China. They may just decide to nationalize the factories and seize assets. Plus with the cost of shipping WAY up… As I said interesting.

IMF introduces new procedures to monitor members’ economies
Published on 19-08-2008

Source: Guardian

THE International Monetary Fund (IMF) has published new procedures on how it would monitor the economic policies of member countries.

In the latest edition of the “IMF Survey,” the organisation said that it was clarifying in particular, how it would discuss exchange rate issues with countries and their impact on the global economy.

``The new procedures are designed to facilitate the implementation of a landmark decision adopted by the executive board last year.

“This decision strengthened the IMF’s surveillance of the economic policies of its member countries by placing external stability at the heart of IMF surveillance and promoting greater focus and candour in its operations,’’ it said.
The world body said that these additional steps would reinforce the effectiveness of surveillance at a time of increasing strains in the global economy, with high commodity prices, slowing world growth and continuing global imbalances.

It said that it had made good progress in implementing the 2007 decision, adding that discussions between mission teams and member governments were now better focused on how members’ economic policies impact on the stability of their economies.

``But progress has at times been hampered by technical difficulties in assessing exchange rate equilibria, and the frankness called for in some discussions of exchange rates has proved a sensitive matter,’’ IMF said.

.
``The decision provides a consistent conceptual framework to assess how members’ economic policies impact the stability of their economies and that of the global monetary system.

``It also sets out four principles to guide members in the management of the exchange rates for their currencies,’’ the IMF said.~~~~~~~~~Will somebody PLEASE do something about revaluing China’s currency? Apparently,Raymond Bracy,walMart’s Vice President of Corporate affairs is trying to,as his registered WalMart lobbyist records indicate. He is lobbying on tax issues,in addition to Chinese imports and Chienese currency. What he is lobbying FOR or AGAINST is not clear,however. As former head of Boeing China,before joining WalMart, Mr. Bracy would know a thing or two about Chinese currency. BTW,wonder if he was a union member while over at Boeing? Hear they are on strike now.

ddrb in
“Will somebody PLEASE do something about revaluing China’s currency? Apparently,Raymond Bracy,walMart’s Vice President of Corporate affairs is trying to,as his registered WalMart lobbyist records indicate. He is lobbying on tax issues,in addition to Chinese imports and Chienese currency. What he is lobbying FOR or AGAINST is not clear,however. As former head of Boeing China,before joining WalMart, Mr. Bracy would know a thing or two about Chinese currency.”

Well with Wal*Mart and thier supplier’s huge investments in China, Im sure he isn’t worried too much about the American Middle Class. America has been moved way down the priority list in the “Global Economy”.

Excerpt:
Who are you voting for?

NEW YORK (CNNMoney.com)—The budget deficit will jump by $246 billion to $407 billion this year, the Congressional Budget Office estimates in a report released Tuesday.

“Over the long run, growing budget deficits and the resulting increases in federal debt would lead to slower economic growth,” the agency said.

Last year, the budget deficit was $161 billion. The government’s fiscal year ends Sept. 30. The agency attributes the jump to “a substantial increase in spending and a halt in the growth of tax revenues.”

That drop in revenue is driven in part by an estimated 15% decline in corporate tax receipts. They fell as a result of lower corporate profits and tax rules governing how businesses depreciate their investments this year. A second factor is the rebates provided to tax filers from the economic stimulus law Congress passed earlier this year.

The spending hike is partly due to efforts by the government “to cover the insured deposits of insolvent financial institutions,” the agency said.

To date, 11 banks have been seized by the FDIC this year - not a high number historically, but higher than it’s been in recent years - and that number is expected to grow in the coming months.

The CBO said it expected the deficit to exceed $400 billion - or 3% of gross domestic product - for each of the next two years if current policies remain in place. It also forecast several more months of “very slow” economic growth.

“The nation is experiencing a significant period of economic weakness,” said Peter Orszag, director of the CBO, in a press briefing.

The CBO’s estimate for the cumulative deficit over the next 10 years is now $2.3 trillion. Earlier this year, the CBO estimated the country would have a $300 billion surplus by 2018. But that was wiped out in part because of new spending approved by lawmakers for the war in Iraq and Afghanistan and revised economic projections.

The agency’s latest estimates do not reflect the Treasury announcement this weekend that the government would temporarily takeover Fannie Mae and Freddie Mac, the two government-sponsored enterprises that form the backbone of the mortgage market.

But Orszag said that come January, the CBO will be incorporating the activities of Fannie and Freddie in its baseline for the federal budget. The CBO will be working with House and Senate budget committees to address questions of just how transactions by both companies should be accounted for - the answers to which will greatly influence the net effect the companies have on the federal deficit.

“The degree of control exercised by the federal government is so strong that the best treatment is to incorporate [the agencies] into the federal budget,” Orszag said.

To allay one concern that many taxpayers have expressed, the roughly $5 trillion in loans that Fannie and Freddie own or back would not be added wholesale to the debt held by the public, Orszag told CNNMoney.com.

“I don’t see a scenario in which you take a total of the mortgages backed and add that to the federal deficit,” he said.

But beyond all these near-term concerns affecting the government’s debt load, he said the biggest challenge facing the country’s coffers is rising health care costs. Federal spending on Medicare and Medicaid alone is expected to jump 30% in the next decade - from 4.6% of GDP this year to 6% in 2018. By 2050, it could jump to 12% of GDP.

As a result, Orszag said in the press briefing, “The nation is on an unsustainable fiscal course.”

Inner City Press—Investigative Reporting From the Inner City to Wall Street to the United Nations

Subcrime Questions As Freddie Mac Handed to Moffett of Carlyle and US Bancorp

Byline: Matthew Russell Lee of Inner City Press: News Analysis

NEW YORK, September 7—U.S. Treasury Secretary Hank Paulson’s announcement today that he is unilaterally appointing Carlyle Group advisor David Moffett to replace Richard Syron as chief executive of Freddie Mac is more than a little ironic, and troubling. The Carlyle Group invested in and lost on subprime mortgage, it admitted earlier this year. In fact, Carlyle invested in bonds issued by Freddie Mac, as well as Fannie Mae.

In March 2008, the Carlyle Group’s mortgage-bond fund, having received more than $400 million in margin calls since earlier in the month, said it couldn’t reach an agreement with it lenders, who would “promptly’’ take over all of its remaining assets. Through March 12, the company had defaulted on over $16.6 billion of debt. On the news, the dollar fell to the weakest since 1995 against the yen and a record low versus the Euro. How then, sources are asking Inner City Press, can Moffett be put in charge of Freddie Mac?

Paulson and Lockhard, Moffett’s subprime links not shown

In fact, Carlyle beyond its investments in military contractors has been accused of other slash and burn tactics, for example by workers at the nursing home chain Manor Care. Its buy-out of Home Depot’s contractor supply unit nearly fell apart, as its lenders balked.

Moffett previously served as chief financial officer of U.S. Bancorp, which beyond its own subprime lending was a 25% investor in the now-bankrupt subprime lender New Century. When Inner City Press investigated U.S. Bancorp’s stake in New Century, the company argued to the Federal Reserve that despite having two seats on the board of directors it did not control the lender. The word subcrime began to become applicable. The Fed demurred, and eventually the stake was sold off. But Moffett’s companies’ involvement in the subprime field is hardly a basis for confidence in him to lead at Freddie Mac. In fact, the choice calls into question Paulson’s judgment. To be continued. Watch this site, and this (UN) debate.~~~~~~~~~~Inner City Press~~~~~NOTE: Please go to Inner City Press for further info,also, on GE Capital and their predatory lender practices. GE owns NBC and also does the financial services of the WalMart credit cards.This is an excerllent site ,and should be visted frequently,IMHO. BTW,The Carlyle Group has extensive ties to the Bush family and the Middle East.

ddrb in
I guess that I don’t have to tell you that it was at a Carlyle Group Breakfast meeting on Sept. 11th 2001 that Bush Sr. was hanging with the BinLadens and the Saudi Royals when the Planes hit the World Trade Center. It is Ironic. And now this, so close to the anniversary. Oh well, They’re selling off our heritage to the highest bidder’s.

EM*F: Yes, I HAD seen reference to that in one of Michael Moore’s films.

“Yes, I HAD seen reference to that in one of Michael Moore’s films.”

Well, if it was in a Michael Moore film, then it must be the gospel!!

RDS: It was reported in the WSJ,also,in addition to many other sources. What an immature remark from someone of advanced age such as yourself.

funny emf we dont hear crap from you on all your favorite stores and their dealings with china,but you nitpick wm for it?why is it not ok for wm to deal with china ,but you have no problem dealing with your favorite stores transactions with china?by the way pal people shop where they can afford to

“RDS: It was reported in the WSJ,also,in addition to many other sources. What an immature remark from someone of advanced age such as yourself.”

Hey, you brought Michael Moore into the conversation, not me!!  All I said, was that he isn’t exactly the most reliable source!!

ddrb,

BTW: Isn’t the WSJ owned by Rupert Murdock, the same ‘right wing neo-con nut job’ that owns Fox News?

After doing some back reading- Anonymous made the comment- “Invest in RailRoads- American RailRoads”

Good advice!  Warren Buffet made himself millions doing just that recently!.

Sell that walmart stock, re-invest in Railroads-

The Railroads are closed Union Shops and treat their employees very well, Thus their continued success, despite the costs of fuel!

RDS:"BTW: Isn’t the WSJ owned by Rupert Murdock, the same ‘right wing neo-con nut job’ that owns Fox News?"RDS~~~~~~~~It is NOW,but WAS NOT owned by Murdoch when 9/11 occured,and this was initially reported. But since you are such a fan of Newsmax AND also, of Murdoch enterprises such as Fox Noise,wouldn’t you consider that a reliable source,fair and balanced?(And don’t misread that I’m saying Newsmax is also owned by Murdoch.)

Carlyle Capital Corporation
In March 2008, Carlyle Capital Corporation, established in August 2006[12] for the purpose of making investments in U.S. mortgage-backed securities, defaulted on about US$ 16.6 billion of debt as the global credit crunch brought about by the subprime mortgage crisis worsened for leveraged investors. The Guernsey-based affiliate of Carlyle was very heavily leveraged , up to 32 times by some accounts, and it expects its creditors to seize its remaining assets.[13] Tremors in the mortgage markets induced several of Carlyle’s 13 lenders to make margin calls or to declare Carlyle in default on its loans.[14] In response to the forced liquidation of mortgage-backed assets caused by the Carlyle margin calls and other similar developments in credit markets, on March 11, 2008, the Federal Reserve gave Wall Street’s primary dealers the right to post mortgaged-back securities as collateral for loans of up to $200 billion in higher-grade, U.S. government-backed securities. [15] On March 12, 2008, BBC News Online reported that “instead of underpinning the mortgage-backed securities market, it seems to have had the opposite effect, giving lenders an opportunity to dump the risky asset” and that Carlyle Capital Corp. “will collapse if, as expected, its lenders seize its remaining assets."[16] On March 16, 2008, Carlyle Capital announced that its Class A Shareholders had voted unanimously in favor of the Corporation filing a petition under Part XVI, Sec. 96, of the Companies Law (1994) of Guernsey[17] for a “compulsory winding up proceeding” to permit all its remaining assets to be liquidated by a court appointed liquidator.[18]

The LOSSES to the Carlyle Group due to the collapse of Carlyle Capital is reported to be “MINIMAL from a financial standpoint”.[19]
.[22])

Controversy
Connections between the Carlyle and the Bush family have created controversy, particularly in relation to the War on Terror and the Iraq War. George H. W. Bush and his Secretary of State James A. Baker III have at times been advisors to the group. One writer claimed that Saudi Arabian interests have given $1.4 billion to firms connected to the Bush family.[citation needed] Of this figure, $1.18 billion comes from contracts awarded to defense contractor Braddock, Dunn & McDonald, which Carlyle sold before George H. W. Bush became an advisor.[23] A Carlyle spokesman noted in 2003 that its 7% interest in defense industries was far less than several other Private equity firms.[24] The group has in the past had links with the Bin Laden family, although the group argues investment was relatively minor and made by relatives including half brother to Osama Bin Laden who had “disowned” him. [25]~~~~Wikipedia

ddrb,

“But since you are such a fan of Newsmax AND also, of Murdoch enterprises such as Fox Noise,wouldn’t you consider that a reliable source,fair and balanced?”

I never said I was a FAN of Newsmax or any of Murdoch’s enterprises!!  Except for 1 or 2 posts from Newsmax, I don’t even read it or watch Fox news!!  As for a reliable source, I put them in with most media news, not much better or worse than any other news source!!  They ALL have their share of bias!!

I just heard Jack Kemp say if we didn’t bailout AIG we might plunge into a recession. I think the Republican Recession is a fait accompli. What we have to worry about now is a full blown depression.

Just before the Great Depression Republican Herbert Hoover said this:

With impressive proof on all sides of magnificent progress, no one can rightly deny the fundamental correctness of our economic system. ~ Herbert Hoover

Sounds kinda like this:

“The fundamentals of our economy are strong.” ~ John McCain

Since I don’t have money tied up on Wall Street or a 401K and I don’t have a mortgage on my home and my cars are paid for, perhaps a Republican Depression would be kinda fun. Hopefully you right wingnuts can get McSame elected and we can find out.

Moral hazard: the incentive to take on risk when insured against failure. In the context of market activity, it is really about being incentivised, because of the insurance or assurance provided by a third party, to take on unusual risks that could fatally damage the enterprise.