Showing posts with label Walmart. Show all posts
Showing posts with label Walmart. Show all posts

Friday, December 14, 2012

Wal-Mac

McDonald's sells more than 75 hamburgers every second. McDonald's' daily customer traffic 62 million, that's about 1 percent of the world's population. McDonald's' $27 billion in revenue makes it the 90th-largest economy in the world. The $8.7 billion in revenue from franchise stores alone, makes McDonald's richer than Mongolia. McDonald's hires around 1 million workers in the US every year ( a 700,000 domestic workforce with 150% turnover rate.) According to company estimates, one in every eight American workers has been employed by McDonald's. Americans alone consume one billion pounds of beef at McDonald's in a year – five and a half million head of cattle. McDonald's has 761,000 employees worldwide, that's more than the population of Luxembourg. From 2011 to 2013, McDonald's plans to open one restaurant every day in China. McDonald's is the world's largest distributor of toys, with one included in 20% of all sales. McDonald’s CEO Jim Skinner receives $8.75 million a year. Twenty years ago the CEO’s compensation was about 230 times that of a full-time worker paid the federal minimum wage now its 580 times.  Profit growth for period 2007 - 2011 was 135%. Dividends and stock buybacks last fiscal year $6 billion, the equivalent of $14,286 per restaurant worker employed by the company.

But guess what, there's an even bigger and more important company.

In  2012, Wal-Mart registered approximately $444 billion in sales, which is $20 billion more than Austria's GDP. If Walmart were a country, it would be the 26th largest economy in the world. Walmart has more employees worldwide — 2.2 million — than the population of Houston. The mega-retailer employs 1.4 million people in the U.S. alone. f Wal-Mart was an army, it would have the second largest military in the world, behind China. Wal-Mart is bigger than Home Depot, Kroger, Target, Sears, Costco, and K-Mart combined. The average family of four spends over $4,000 a year at Walmart. One of every four dollars Americans spend on groceries is spent at Walmart. Each week, Walmart serves more than 200 million customers at more than 10,400 stores in 27 countries. In 2010, CEO Michael Duke's annual salary of $35 million earned him more in an hour than a full-time employee makes in an entire year. The Walton family has given away about 2 percent of its net worth to charity — Bill Gates is giving away 48 percent of his net worth and Warren Buffet 78 percent of his net worth. An additional Walmart Supercenter per 100,000 residents increases the obesity rate by 2.4 percent. Roughly 4,700 (about 90 percent) of international stores operate under a banner other than Walmart, including Walmex in Mexico, Asda in the UK, Seiyu in Japan, and Best Price in India. Dividends and stock buybacks last fiscal year $11.3 billion. The Walton family has  some $93 billion in wealth, just under 0.14% of all US wealth, more than bottom 30% of Americans (49 million)

The total number of people employed in the U.S. at Wal-Mart Stores Inc. and McDonald’s and Yum Brands restaurants exceeds the entire 2.7 million population of Chicago. Net income at those three companies has jumped by at least 22 percent from four years ago. Shareholders, not employees, have reaped the rewards. At the same time, companies have formed an effort to freeze the minimum wage, whose purchasing power is 20 percent less than in 1968. Minimum-wage earners have less power to demand higher pay because so many adults are willing to take low-wage positions.

 25% of Americans (or bottom 75 million) don’t have any net wealth at all. Their debts are higher than their assets.

The 1.2 million households whose incomes put them in the top 1 percent of the U.S. saw their earnings increase 5.5 percent last year, according to census estimates. Earnings fell 1.7 percent for the 97 million households in the bottom 80 percent -- those who made less than $101,583.

Saturday, August 02, 2008

Wal-Mart - Anti-union

Wal-Mart , the owners of the supermarket chain , Asda , reveal what happens when capitalists feel threatened by democracy - they use their influence and access to voters to swing the vote . This from the Wall St Journal (via Harry's Place blog)

Wal-Mart in the USA is mobilizing its store managers and department supervisors around the country to warn that if Democrats win power in November, they'll likely change federal law to make it easier for workers to unionize companies -- including Wal-Mart.

In recent weeks, thousands of Wal-Mart store managers and department heads have been summoned to mandatory meetings at which the retailer stresses the downside for workers if stores were to be unionized. Wal-Mart executives claim that employees at unionized stores would have to pay hefty union dues while getting nothing in return, and may have to go on strike without compensation. Also, unionization could mean fewer jobs as labor costs rise.

Wal-Mart don't specifically tell attendees how to vote in November's election, but make it clear that voting for Democratic presidential hopeful Sen. Barack Obama would be tantamount to inviting unions in .

Wal-Mart has fought hard to keep unions out of its stores, flying in labor-relations rapid-response teams from its Bentonville, Ark., headquarters to any location where union activity was building. The United Food and Commercial Workers was successful in organizing only one group of Wal-Mart workers -- a small number of butchers in East Texas in early 2000. Several weeks later, the company phased out butchers in all of its stores and began stocking prepackaged meat. When a store in Canada voted to unionize several years ago, the company closed the store, saying it had been unprofitable for years.

ASDA in the UK have followed moreorless the same policy of discouraging and restricting unions

Thursday, August 02, 2007

Exploiting kids


Wal-Mart ( ASDA here in the UK ) prides itself on cutting costs at home and abroad, and its Mexican operations are no exception. Wal-Mart is taking advantage of local customs to pinch pennies at a time when its Mexican operations have never been more profitable. 19,000 youngsters between the ages of 14 and 16 work after school in hundreds of Wal-Mart stores, mostly as grocery baggers, throughout Mexico—and none of them receives a red cent in wages or fringe benefits.


The use of unsalaried youths is legal in Mexico because the kids are said to be “volunteering” their services to Wal-Mart and are therefore not subject to the requirements and regulations that would otherwise apply under the country’s labor laws. Although Wal-Mart’s worldwide code of ethics expressly forbids any “associate” from working without compensation, the company’s Mexican subsidiary asserts that the grocery baggers “cannot be considered workers.”


Wal-Mart is Mexico’s largest private-sector employer in the nation today, with nearly 150,000 local residents on its payroll. Wal-Mart de Mexico reported net earnings of $1.148 billion in 2006 and $280 million in profits in the second quarter of this year, a 7 percent increase in real terms over the same period last year and have announced plans in February to add 125 new stores and restaurants to its existing network of 893 retail establishments during the course of 2007. That expansion plan will represent new investment totaling nearly a billion dollars


In a country where nearly half of the population scrapes by on less than $4 a day, any income source is welcome in millions of households, even if it hinges on the goodwill of a tipping customer. But says Federal District Labor Secretary Benito MirĂ³n Lince. “In economic terms, Wal-Mart does have the capability to pay the minimum wage [of less than $5 a day], and this represents an injustice.”

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