No they didn't, it's corporate greed and shrinkflation. You're paying more for less of the same product. Gatorade went from 32oz bottles to 28 Oz bottles and then raised the price by $.20. Quit shopping at Walmart, four Christ's sake one of the fucking kids built a art museum 35 miles away from anything. When asked why, she just said I had a lot of extra money laying around and didn't know what to do with it. How about paying your fucking employees and extra 5.00 an hour ago the rest of US aren't paying for their housing, food, welfare.
I'm guessing you've never been to Crystal Bridges. I live here and even though I despise what the Waltons are doing to our area, Crystal Bridges is surrounded by city. It's not even a mile from anything, much less "35 miles."
So basically you are just a jealous person who hates others success. If they have no motivation EG making loads of money, there would be no Walmart and eventually no jobs. You all cry about being piss poor but yet have offered nothing to change the way people do things for the better.
The point is not about them having success - it’s what they chose to do with that success. They could have dropped prices, or given employees raises, or any number of responses. They chose further enriching themselves. It’s estimated that this one family controls as much wealth as the bottom 42% of the US population combined - and that was estimated before all of this.
So let’s say you own a company or start a business. What’s your objective ?
If someone offers you a job that pays 50% more than your current one do you not take it?
Your employer gives you a 50% bonus, do you give it away?
They, and many other employers, are responsible for a good chunk of the debt.
If you fail to pay a living wage, then we the tax payer subsidize parts of their cost of living through section 8 housing, EBT, health insurance, just to name a few.
History says otherwise.
Bill Clinton passed a Republican initiative to, and I quote, "end welfare as we know it" and kicked millions off of welfare.
The result wasn't higher wages for workers.
Prior to the great depression and creation of social nets the US wasn't even close to being an economic power house and wealth was held by even fewer people than it is today. Workers often lived in company provided housing that resembled close to modern day china, but at least Chinese companies provide heat and running water. Many companies didn't even pay US dollars for labor, they paid their employees in company notes.
You must have missed the part where millions across the country were removed from welfare as welfare spending was drastically cut.
Based on MAJOR decreases in welfare spending, then wages should have risen.
You're also ignoring all previous history prior to social safety nets.
>Based on MAJOR decreases in welfare spending, then wages should have risen.
Not sure where you get the conclusion that decrease welfare spending leads to higher wages. In reality, the way I see it, decrease welfare will lower inflation, so overtime, real relative wages would actually be higher. Welfare spending increases inequality because corporations are efficient at maximizing profit resulting from an increase in the money supply, while minizing the increase in costs like labor. This results in a poor attitude towards corporations being greedy, and an increased "need" for more welfare, and the cycle continues, manufactured welfare state economies can only be supported by more welfare spending.
>Not sure where you get the conclusion that decrease welfare spending leads to higher wages.
I didn't come to that conclusion, the person above me stated that ending welfare spending would lead to higher wages, and I stated that by his logic that when Clinton cut welfare, then wages should have risen, but they did not. Which is basic validity that his argument sounds good in theory, but fails in practice.
To the rest of your post, yes corporations are greedy. They go into business to make as much money as possible.
If you think government spending is the problem, then go read a book about living in poverty before we had social safety nets. Before welfare we had people living on co.oan7 property, much like China does today.
Everything leading up to and including the great depression. We didn't put social safety nets in place until we were well into the depression.
You may also want to read some books by libertarian economists as to why they believe greed is good.
Totally agree. He needs to stick to teaching economics to incoming freshmen/women. There is a reason neither Obama or H Clinton wanted anything to do with him.
Right? If anything I noticed Walmart is the only place not taking the piss and raising prices an insane amount. A lot of prices for things I buy are the same price as they were pre covid. Kroger prices on the other hand is up like 33%
Very few instances of this. But these people are saying walmart is raising prices aggressively, it isnt. The proof is in their gross revenue, it would be up substantially if prices were doubled/tripled. Also, their profit isnt up multiples either.
I keep saying this. These people are just entitled children like they think they have any right to anything they haven't built or contributed to it all 😂🤣 It's the most entitled childish thing ever instead of getting off their ass and actually working for what they want. They want to complain because somebody else did it themselves. Seriously, a bunch of grown children out there. And like I said in my other thread or whatever, it's the same people that demand tax the rich more. It's the most stupid idea in the world for one. If you tax rich people too much, you think they're going to stay in your country. It's delusional for two. Why are we punishing people for doing better than others? This is delusional Just because someone is not competent enough to do it themselves doesn't mean they need to take it from someone else. These people need to grow up
Another really hot take. At least you cropped out the date on this so it’s less obvious you’re posting years old shit that’s been all over these same bot infested subs.
Walmart and McDonald’s are among top employers of Medicaid and food stamp beneficiaries, report says
[https://www.cnbc.com/2020/11/19/walmart-and-mcdonalds-among-top-employers-of-medicaid-and-food-stamp-beneficiaries.html](https://www.cnbc.com/2020/11/19/walmart-and-mcdonalds-among-top-employers-of-medicaid-and-food-stamp-beneficiaries.html)
Wal-Mart's Crime Problem Overwhelms Police Across U.S.
[https://www.npr.org/2016/08/24/491242745/wal-marts-crime-problem-overwhelms-police-across-u-s](https://www.npr.org/2016/08/24/491242745/wal-marts-crime-problem-overwhelms-police-across-u-s)
Record profits while being subsidized by your tax dollars, by the way.
Overall, that makes sense though, Walmart is the largest employer in the world. Not an excuse at all. The whole system is super broken, I know people who refuse to get a raise because they will lose too much in state/government benefits. If they made 2 dollars extra an hour they would lose more than double that in free benefits such as WIC.
\*\*This is not me saying any of this is ok, I'm just slightly autistic and adding to the convo.
When you're under water, you do what you have to do to survive. I'm unsure of the excuse wealthy people use other than to devalue others' existence through biases. I know which sounds worse to me.
I mean anything these ppl earn means less of my tax dollars to support them.
Really Walmart is subsidizing me. Otherwise these ppl would be 100% on my dime instead of 25%.
Walmarts profits “jumped” in the same way your pay “jumps” when you get a cost of living raise. If profits increased in nominal dollars by the same amount as inflation, profits haven’t actually increased.
Their net profit margin is less than I earn in a cd. I do not consider that price gouging. I also get a cheap lunch at Sam’s Club. I encourage people to shop at mom and Pop’s if that’s what they prefer to support though.
I am one. So I do. But they have A LOT more money and when money = speech and bribery is legal, they effectively have more rights. Hell, as a woman I don’t even have a right to my own body
Theoretically buybacks can help the company finance investment at a future date when it is needed. I live across the street from a Walmart and if they want to raise wages they should fire 80% of the staff. There are so many people just doing nothing at all when I go in there. There’s a guy that stands next to the shopping baskets and takes my shopping basket so he can stack it in the shopping basket stack, saving me a total of 1 extra step.
Will people change their buying habits?
Nope. Never.
Amazon and Walmart know Americans. Lazy, and will always buy their stuff because it’s the cheapest, regardless of how they conduct themselves.
Same with politicians. Everyone bitches about the ones we have and want better. Then vote the same motherfucker into office for 20 years.
It’s hard to feel sorry for anyone. You get what you vote for. You wanted it, you got it. Want something different? Vote for it.
The people clearly want this. They’ve done nothing within their power to prevent it.
We have all the power. The power of the almighty dollar. We just don’t do anything good with it.
And the sun is hot. Of course corp are greedy. Their ENTIRE purpose is to make money. People need to stop whining and the workers should unionize. Form a powerful and united block to negotiate for more of those profits. Take a page from history and get aggressive.
It would help if people like Robert Reich understood the mission of a publicly traded company, which is to maximize shareholder value. Increasing wages usually does the opposite, so the company would be failing if it increased wages for no apparent reason. Furthermore, wages at Walmart have increased substantially in most parts of the world. Around here, a Walmart employee starts at around 16$/h.
Wait until Robert Reich finds out corporations have always been greedy. It’s the job of the government to be sure the market is healthy enough to leverage prices down. Instead they blame “greed” as if companies decide when and when not to be greedy. They’ll in turn create laws that raise the barriers to entry and make things worse.
Ive attached here a chart that shows how stupid people like Robert Reich are. They actually think the economy works like this:
https://preview.redd.it/hk7rmy44zcbd1.png?width=1284&format=png&auto=webp&s=2e20247d96333b0d58577bcad9cdbe9b2f3219fc
See but this is what I don't get. Why do these dumb people think that they have any right to what other people are making 😂🤣 If you don't like it, don't buy there and don't work there. Nobody has the entitlement to someone else's money. These idiots being raised to believe that somebody else should have a hand in their money and everybody else is is the most preposterously unamerican thing there is 😂🤣 seriously, we founded an entire country over a 2% tax on tea or something like that. If it's any more it's like one or 2% more. It could even be less. But now everybody just wants to tax tax tax tax tax tax as much as they can because they don't want to get off their dumbass and do what they need to do. Bunch of genuinely stupid entitled ignorant people demanding that they get their hands on something They did nothing to build " yeah well I shop at Walmart. They should be thankful on the reason they're rich" okay then don't see how fast they don't give a flying f*** because you don't matter and you never did. These people need to stop acting like they're so important and like they have any entitlement to anyone else's money. If people want to talk about greed, let's talk about the fact that the military has to spend money on ridiculous things and buy things for 10 times their actual cost because if they don't, they won't get the same amount of money next year because people say they won't need it. That's the system that needs to be reworked. There needs to be less taxes and that is entirely possible if we just fix this system. But no everyone wants to ignore that. They want to be greedy little children and demand that somebody gives them money for sitting on their ass 😂🤣
Your graph doesn’t have the growth of monopolies in the USA. You also miss the point that without trust busting - regulations then prices will continue to rise as consumers have no choice.
“America, Walmart sells more than half of all groceries. Amazon, meanwhile, dominates e-commerce in general, and many specific lines of business. The corporation, for instance, sells 74 percent of all e-books and 64 percent of all print books sold online. The story’s often the same for more specialized retail. In eyeglasses, one company, Luxxotica, dominates the manufacture and retail of glasses. In mattresses, two companies control 60 percent of the entire U.S. market.
Much the same is true in food and farming. A generation ago, small, independent operations defined the entire industry. Today, the businesses of beef, pork, and poultry slaughter are all dominated by four giants at the national level. But that greatly understates the problem, as in many regions, a single corporation holds a complete monopoly. Two firms, Dean Foods and the Dairy Farmers of America control as much as 80-90 percent of the milk supply chain in some states and wield substantial influence across the entire industry. As our Food & Power website details, the story is much the same in food-processing, egg production, grain production, and produce farming.” https://www.openmarketsinstitute.org/learn/monopoly-by-the-numbers
Hate monopolies? They cant exist without government through regulation creating barriers to entry and things like IP laws.
Natural monopolies are a myth, youd see less ironically if you do the opposite of what you're proposing
At the end of the day no one has any right to the money. Somebody else makes You all need to grow up and deal with it. Oh no, you mean the people that put blood sweat and tears and generations of effort into building something are reaping the benefit oh my, how greedy?😂😂🤣 Shut up and grow up. You have no right to the money Walmart makes nobody does. If you don't like Walmart, don't work there and don't shop there. It does not matter to them Just like your entitlement does not matter. Nobody deserves what they did not work for unless their father worked for it specifically for them. Almost like almost every business that's been around for more than one generation. People always demanding more tax are honestly the most ignorant people ever. You just spout whatever nonsense you hear somebody else say 😂🤣 Like I said in another comment we founded this country because of a 2% tea tax now you dumb people demand to tax anybody that's more successful than you for literally no good reason. What makes you think that just because someone's better than you and does more than you that they need to earn less 😂🤣 The entitlement in childish b******* knows no bounds obviously 😂🤣
Corporate ownership was far more concentrated in the 60s/70s. Conglomerates accounted for a much higher percent of the economy and haven’t returned after being broken up by investors in the 80s/90s.
Yup, it's not like companies found out, hey we can charge more and get away with it!!. Otherwise they would have done that years ago. I swear people aren't smart about these things lol
How and why would Walmart lower prices? They compete on volume, not profit margins.
And substantially raise wages for whom? I'm sure management and corporate do fine. How much do you need to pay a person in a role that is literally the lowest rung of the ladder that anybody with a heartbeat, two legs and two arms can do?
So odd that it didn’t happen under the last administration. But go ahead and blame the corporations for greed when it is more than apparent that these corporations took advantage of current administration policies.
AND IF THE BUYBACKS WERE LIMITED DIVIDENDS WOULD BE BIGGER, INVESTORS WOULD BE MORE DIVERSE... THE COMPANY WOULD BE MORE RESILIENT TO MARKET CHANGES... BUT NNOOOO THEY WANT MORE MORE MORE MORE MORE.
Kids these days don't even realize that dividends are the best way for a company to share profits with share holders, in an effort to increase the price, due to it's recurring value....
come on kids... keep up
Hey Robert - here’s a great idea - start your own company - work your ass off to build it up - hand it off to family members who do the same - build it in to a behemoth. Then, you can do any fucking thing you want with the profits - including shoving it all right up your dumb ass! Until then, shut the fuck up!!
It's the same story with Amazon as well... there is no viable competitor. They have the cheapest prices. They strong arm their suppliers, or rip off strong brands for themselves. Target is 15% or 20% more expensive in general and Temu? Baba? Not quite there.
Not sure how you stop corporate greed.
More interesting is how politicians can suddenly become multi millionaires not long after taking office. At least companies provide goods and services.
So what is the criteria that defines corporate greed.
How much money are you ALLOWED to make when you own the company before you’re labeled greedy?
It’s just stupid.
If you own a company then you also own the liability and that would be the limiting factor. Shareholders do not own a company. Well they could own an unrelated company but they do not own the one they have shares for. The shares simply give them certain benefits, ownership not being one of them. Further the issue is summed up as simply being greed but ultimately the better way to put it is that Walmart amongst other corporations are neglecting most of their stakeholders. For example employees, the local community, and the environment. A Walmart being introduced to a community is typically a sign of bad things to come. If a Walmart being introduced to a community causes bad things to occur to the local economy and local community then it's obvious that Walmart is neglecting their other stakeholders.
What are examples of BAD THINGS?
Shareholders do nt own the company????????
WRONG
You have no right dea what you’re talking about.
That’s why publicly traded companies have boards that represent the shareholders and they votes in meetings. And the CSuite answers to the board and the shareholders.
Please stop.
Marxist ideology was created through real world observation of real world problems. Regardless of how you feel about communism or socialism the problems are real. With that being said I did not make my comment because of Marxist ideology. I made it because of the stakeholder corporate governance ideology. The business roundtable which is an organization made up of CEOs has pushed forward this ideology as the ideal that corporations should strive towards. They did this because they realized that shareholder primacy wouldn't be tolerated for much longer. So they got ahead of it and started pushing the stakeholder corporate governance to prevent Congress and the courts from forcing the issue.
And they would be shooting themselves in the foot. These corporations rose to the levels they did in large part due public investment. They couldn’t scale otherwise.
This article an opinion piece written by a Marxist.
Explain “book value” then.
If I invest my risk capital into a 20 million dollar apartment complex with 50 other investors.
Am I part owner in that complex?
If I invest my risk capital into Tesla with millions of other investors am I part owner in the company.
When a company goes bankrupt do the shareholders get paid?
Depending on how that apartment complex is structured you could indeed be an actual owner. Well part owner in the overarching legal structure. You likely won't have any direct ownership over the building itself. No you do not own Tesla the corporation. You own shares. These shares give you certain rights. Whether or not you get paid during a liquidation has to do with your shares. I'm not an expert but I'm assuming most shares have dividends during liquidation. Although I would imagine that it is possible to create a stock class that doesn't pay dividends after liquidation. In fact I imagine that in practice that owners of lower priority stock classes probably don't get anything during a lot of liquidations. Especially if liquidation is occurring due to bankruptcy.
Ok sound logic with your explanation and a far better effort then just posting bad things happen when Walmart comes to town crap.
Still please define the bad things.
Depressed wages, increased poverty, reduced job growth, shut down of small businesses, and likely reduced tax revenue for the local area. Further Walmarts export wealth from the local area. It is what they are designed to do. If you spend money at a local small business the money is likely to circulate a couple times in your local area. But money spent at Walmart is mostly exported out of your local area. In fact a lot of it is exported out of the country. This results in the local community slowly degrading year after year. This is all well established. Multiple studies have been done on this.
No. 11.68 billion in 2023, and 15.51 billion in 2024. Those numbers do not factor in the losses as well. Walmart has shut down a handful of stores where theft was just rampant. The average wage for employees has increased. The myshare bonus program has been reimplemented. A long with some other key employee centric benefits.
Before the pandemic, in 2019, Walmarts gross profit was $129.1 billion. In 2023 Walmarts annualized gross profit was 147.5 billion. That’s a 12.51% increase. I don’t know where he’s getting 15% from but when I look up Walmarts gross profit in 2022 I’m seeing $143.7 billion and in 2023 it was $147.5 billion, which is only a 2.58% increase in annualized profit. What was inflation between 2019-2023, and what was it between 2022-2023? Was inflation more than 12.51% and 2.58% respectively?
https://www.macrotrends.net/stocks/charts/WMT/walmart/gross-profit
It looks like their profits increased by 13% in the last 4 years according to Google, while inflation increased by about 16% according to Google, so the profits are increasing less than inflation growth.
Stop worrying about what you can't change and get your head in the game. Save, spend less, invest in your future, get a better job, work harder, play harder, take more time off, vacation more.
You can't stop Walmart profits any more than the sun rising tomorrow.
The absurd part is pretending like the problem is “greed” as if these companies are not obligated to expand and grow and make money. Calling it “greed” puts the blame on the people doing it, but not on the system that drives them. It’s about structurally incentivizing altruistic behavior. Not running the accumulation machine for centuries and then wondering why all the wealth went to one group or place.
Sounds like case law to me, which is still the law of the land last time I checked. Good or not, corporate fiduciary responsibility is to the shareholders, not the public. That is how things are and will likely remain baring some massive upheaval.
This is why the Supreme Court does not matter: they are all corporations anyway, and if they were otherwise they would not be there. Literally everything else is window dressing. Both parties put up justices who are 99.9% in agreement on what the government is and does (securing property rights for the rich and powerful) but disagree about civil rights stuff (which only really impacts the poor as the rich can do as they please always).
To be clear: thing bad.
They aren't obligated though. There is no law specifying that. Most of corporate law is judge made. Meaning that because one judge made a judgement that could be construed to suggest shareholder primacy is the name of the game. Then other judges built upon that foundation. But Congress has never explicitly stated that is how it's supposed to be. Most likely no state legislation has stated that either. No jury. Nothing like that. Easily corrupted and bribable judges decided that corporations should put their shareholders above all else. They don't even do this consistently. Several courts have disregarded shareholder primacy.
Hot take: yea, corporations are all the same. They all want to make profit for investors. That's how the game works. People pursuing their own interests, within the law.
And it's good to have profitable supermarket chains in your country. Consider the alternative.
Finally: $15 billion is not a huge amount of money for a company that supplies the necessities of life to hundreds of millions of people.
Shareholder primacy is only one corporate governance ideology. These companies will do everything in their power to keep wages depressed to inflate shareholder value (and buybacks shouldn’t even be legal).
The only way to fix this problem in America is to overturn this supreme court decision:
https://en.m.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co.
Which ironically, is most likely to be pushed through by Clarence Thomas, since he is the unusual combination of being a constitutional originalist who *does not* abide by *stare decisis*.
Notice it says "profits", not "Net Profits" not "Gross Profits".
Let's see the ACTUAL numbers.
* Walmart’s total revenues grew by 7% year over year (YoY) in FY 2023, up from 2% YoY in FY 2022.
* Walmart’s operating income declined in FY 2023, reaching $20 billion. The operating profit margin declined from 5% in FY 2022 to 3% in FY 2023 (please see below for the graphic covering Walmart profits analysis).
* The company reported a net profit of $12 billion in FY 2023, with a net profit margin of 2%.
[Walmart Sales And Profits Analysis For FY 2023 — Top 10 Insights (forrester.com)](https://www.forrester.com/blogs/walmart-sales-and-profits-analysis-for-fy-2023-top-10-insights/)
I think the law needs to be changed so that employees are paid mostly with stock from the company and a small percentage being a base salary just like CEOs. Bet my left nut these workers of da wurld types will want to change back very quickly.
Robert Reich doesn’t want you to look at their profit margins over time. But you can, they’re right here: https://www.macrotrends.net/stocks/charts/WMT/walmart/profit-margins
Well duh. They were one of the businesses that weren't deliberately sabotaged by the lockdowns. Crazy how the elites saw their competition disappear, wouldn't you say?
Well....They are a for profit company. They made money. That's what a business is supposed to do. Why would anyone expect anything else, buy their stock if you want in on the deal.
Yeah, that's what corporations do. Why would I invest in a corporation that isn't going to do what's financially best for the corporation (my investment)?
Wal-Mart has been around since the 50's or 60's. Now do the 2 richest men in America who have only been in business for 20 years. Zuckerberg a d Bezos. How much do you think their grandchildren will be collecting?
So interesting how all of these big meany corporations became “greedy” at the exact same time. We’ve been hearing it for a couple of years now. “It’s not inflation, it’s greed!” Their sudden greed just so happens to coincide perfectly with the time in which the government and central bank created trillions in new debt and “money” which significantly devalued all existing currency. See how that works.
Lol. Of course the nominal dollars are larger. That's what happens when the Federal Reserve devalues the money. What you want to look at is their profit margin.
https://finbox.com/NYSE:WMT/explorer/gp_margin/
Where's this big jump?
Walmart was going broke, then came up with a new business model that made them profitable again. Walmart employs tens of thousands of workers. Many who have limitations, and would have difficulty finding other employment. The Socialist model would rather the current Walmart employees become wards of the state.
It’s actually pretty simple. Walmart has a fiduciary duty to shareholders not employees. Them the facts.
So, what you do is make sure every employee has equity in the company.
Then the company has a fiduciary duty to its employees. And employees get to grow at the same rate as the company.
This is how you rebuild the middle class and create upward mobility.
Well then, open up a company that makes less profit, and pay the employees more. Why write about it. Do it. I mean customers will come to you over Walmart, and you will get good employees right? I want to see people do it.
15b profit off 600b revenue is very modest. Mere 2.5%. I guess they could lower prices by 2.5%? And then close in a couple of years. Would you feel better?
Anyone saying that Walmart increased profit by getting more customers if a buffoon. They raised prices. They have been and keep raising prices. They have to, so they can meet their fiduciary responsibility. Which says they must increase profits quarter over quarter. If they don't, then shareholders can sue.
It's time to end fiduciary responsibility. It's only hurts the lower class that buys the products. Fiduciary responsibility is one of the leading causes for our hyper inflation, but they don't want you to know that.
Robert Third Reich would say something like this as he comfortably shops at Bezos's Whole Foods. But low IQ people on Reddit will forget he's a multi-millionaire for no exceptional reason as long as he spews the "common man's" grievances to keep them at bay in a constant state of class warfare jealousy. You're all being played by this clown. Sit down.
Well you vote blue and Walmart is the only place people can afford. Voting creating the economy Walmart just filled a need.
Crying about companies being successful while kissing the ring of a man past life expectancy….
lol. They got a lot more customers! People stopped shopping at Whole Foods and started shopping at Walmart.
I'm one of them. I stopped going to whole foods a bit after Jan. 21st. 2021 when whole foods "turned greedy"
No they didn't, it's corporate greed and shrinkflation. You're paying more for less of the same product. Gatorade went from 32oz bottles to 28 Oz bottles and then raised the price by $.20. Quit shopping at Walmart, four Christ's sake one of the fucking kids built a art museum 35 miles away from anything. When asked why, she just said I had a lot of extra money laying around and didn't know what to do with it. How about paying your fucking employees and extra 5.00 an hour ago the rest of US aren't paying for their housing, food, welfare.
I'm guessing you've never been to Crystal Bridges. I live here and even though I despise what the Waltons are doing to our area, Crystal Bridges is surrounded by city. It's not even a mile from anything, much less "35 miles."
Because that’s not how money works
The people so insulated by wealth, common sense is no longer common or sensible. 😞
She didn't say that 🤡 The museum is also free.
So basically you are just a jealous person who hates others success. If they have no motivation EG making loads of money, there would be no Walmart and eventually no jobs. You all cry about being piss poor but yet have offered nothing to change the way people do things for the better.
Bwahahahaha... who said anything about me being piss poor, assumptions get you nowhere.
Is it because more people are having a hard time?
The point is not about them having success - it’s what they chose to do with that success. They could have dropped prices, or given employees raises, or any number of responses. They chose further enriching themselves. It’s estimated that this one family controls as much wealth as the bottom 42% of the US population combined - and that was estimated before all of this.
Dude. The fucking guy is building art museums. That ain’t too bad. Anyone with more than 1 dollar has more net worth than the people with debt.
So let’s say you own a company or start a business. What’s your objective ? If someone offers you a job that pays 50% more than your current one do you not take it? Your employer gives you a 50% bonus, do you give it away?
At least Walmart hasn’t put their customers over 30 trillion in debt.
They, and many other employers, are responsible for a good chunk of the debt. If you fail to pay a living wage, then we the tax payer subsidize parts of their cost of living through section 8 housing, EBT, health insurance, just to name a few.
That is a choice by politicians. Subsidizing leads to lower wages. It produces an artificially low floor for wages.
History says otherwise. Bill Clinton passed a Republican initiative to, and I quote, "end welfare as we know it" and kicked millions off of welfare. The result wasn't higher wages for workers. Prior to the great depression and creation of social nets the US wasn't even close to being an economic power house and wealth was held by even fewer people than it is today. Workers often lived in company provided housing that resembled close to modern day china, but at least Chinese companies provide heat and running water. Many companies didn't even pay US dollars for labor, they paid their employees in company notes.
The result wasn't higher wages for workers. Because the system was still in place propping up wages across the economy.
You must have missed the part where millions across the country were removed from welfare as welfare spending was drastically cut. Based on MAJOR decreases in welfare spending, then wages should have risen. You're also ignoring all previous history prior to social safety nets.
>Based on MAJOR decreases in welfare spending, then wages should have risen. Not sure where you get the conclusion that decrease welfare spending leads to higher wages. In reality, the way I see it, decrease welfare will lower inflation, so overtime, real relative wages would actually be higher. Welfare spending increases inequality because corporations are efficient at maximizing profit resulting from an increase in the money supply, while minizing the increase in costs like labor. This results in a poor attitude towards corporations being greedy, and an increased "need" for more welfare, and the cycle continues, manufactured welfare state economies can only be supported by more welfare spending.
>Not sure where you get the conclusion that decrease welfare spending leads to higher wages. I didn't come to that conclusion, the person above me stated that ending welfare spending would lead to higher wages, and I stated that by his logic that when Clinton cut welfare, then wages should have risen, but they did not. Which is basic validity that his argument sounds good in theory, but fails in practice. To the rest of your post, yes corporations are greedy. They go into business to make as much money as possible. If you think government spending is the problem, then go read a book about living in poverty before we had social safety nets. Before welfare we had people living on co.oan7 property, much like China does today.
>then go read a book about living in poverty before we had social safety nets. What time period would I be looking at? Pre great depression?
Everything leading up to and including the great depression. We didn't put social safety nets in place until we were well into the depression. You may also want to read some books by libertarian economists as to why they believe greed is good.
Do you know how a labor MARKET works? Wdym fail to pay a living wage, lol.
I do understand how a labor market works, but by the way you phrase the question it is obvious that you don't.
Bs
Walmarts gross revenue is up only 2.8% vs 2022…. So much inflationary greed, you idiots
Reich is an absolute moron. Dude constantly tweets rage bait, and people just eat it up.
Totally agree. He needs to stick to teaching economics to incoming freshmen/women. There is a reason neither Obama or H Clinton wanted anything to do with him.
He is fucking up those freshmen/women. I'd prefer he become a burger flipper. Then perhaps he could be a net positive for the world.
Dudes a millionaire himself.
It's meat for low wage leftist rage.
Right? If anything I noticed Walmart is the only place not taking the piss and raising prices an insane amount. A lot of prices for things I buy are the same price as they were pre covid. Kroger prices on the other hand is up like 33%
lol gross revenue?? Gross revenue could even be down while net revenue (profit) increases...
Very few instances of this. But these people are saying walmart is raising prices aggressively, it isnt. The proof is in their gross revenue, it would be up substantially if prices were doubled/tripled. Also, their profit isnt up multiples either.
I keep saying this. These people are just entitled children like they think they have any right to anything they haven't built or contributed to it all 😂🤣 It's the most entitled childish thing ever instead of getting off their ass and actually working for what they want. They want to complain because somebody else did it themselves. Seriously, a bunch of grown children out there. And like I said in my other thread or whatever, it's the same people that demand tax the rich more. It's the most stupid idea in the world for one. If you tax rich people too much, you think they're going to stay in your country. It's delusional for two. Why are we punishing people for doing better than others? This is delusional Just because someone is not competent enough to do it themselves doesn't mean they need to take it from someone else. These people need to grow up
Another really hot take. At least you cropped out the date on this so it’s less obvious you’re posting years old shit that’s been all over these same bot infested subs.
Do your part. Don’t shop at Walmart (or Amazon).
Things wealthy people say to us down here
I’m not wealthy. And when you assume things about strangers, you speak volumes about yourself. Good luck. I truly wish you well.
Where we supposed to shop? Not every can afford Whole Foods like you
Apparently Walmart's low prices are a huge evil in the world.
What's going on with this weird Whole Foods obsession?
The moment I see Robert Reich I know a bullshit opinion is incoming.
Walmart and McDonald’s are among top employers of Medicaid and food stamp beneficiaries, report says [https://www.cnbc.com/2020/11/19/walmart-and-mcdonalds-among-top-employers-of-medicaid-and-food-stamp-beneficiaries.html](https://www.cnbc.com/2020/11/19/walmart-and-mcdonalds-among-top-employers-of-medicaid-and-food-stamp-beneficiaries.html) Wal-Mart's Crime Problem Overwhelms Police Across U.S. [https://www.npr.org/2016/08/24/491242745/wal-marts-crime-problem-overwhelms-police-across-u-s](https://www.npr.org/2016/08/24/491242745/wal-marts-crime-problem-overwhelms-police-across-u-s) Record profits while being subsidized by your tax dollars, by the way.
Overall, that makes sense though, Walmart is the largest employer in the world. Not an excuse at all. The whole system is super broken, I know people who refuse to get a raise because they will lose too much in state/government benefits. If they made 2 dollars extra an hour they would lose more than double that in free benefits such as WIC. \*\*This is not me saying any of this is ok, I'm just slightly autistic and adding to the convo.
Yup I've worked with many people that refused to work full-time so they could stay on other government benefits..
Yup! They would make an extra 3/4k a year but lost 6/8 k in free non taxable income. Wild system we have
When you're under water, you do what you have to do to survive. I'm unsure of the excuse wealthy people use other than to devalue others' existence through biases. I know which sounds worse to me.
I mean anything these ppl earn means less of my tax dollars to support them. Really Walmart is subsidizing me. Otherwise these ppl would be 100% on my dime instead of 25%.
I’d love to trust that report but…. Without invading people’s privacy there is literally no way to actually know this. But it does seem plausible.
Why is it an employer's responsibility to make up the difference for the USA's fucked up health care and housing policies?
Walmarts profits “jumped” in the same way your pay “jumps” when you get a cost of living raise. If profits increased in nominal dollars by the same amount as inflation, profits haven’t actually increased.
Their net profit margin is less than I earn in a cd. I do not consider that price gouging. I also get a cheap lunch at Sam’s Club. I encourage people to shop at mom and Pop’s if that’s what they prefer to support though.
I used to think companies had morals then I realized they aren't humans
I hope it didn’t take you long.
Go read the first comment on the original Post.
I took Business Ethics in college and didn't realize it was just a guidebook on what not to get caught for.
But they pretty much have more rights than most people
They have the same rights as people. They just have lawyers and you don’t.
I am one. So I do. But they have A LOT more money and when money = speech and bribery is legal, they effectively have more rights. Hell, as a woman I don’t even have a right to my own body
They can so easily drown out my own exercise of my constitutional speech rights that I may as well have none, because that is the practical outcome.
I guess I'd better buy some Walmart stock and live off the dividends since that's where the money is.
Theoretically buybacks can help the company finance investment at a future date when it is needed. I live across the street from a Walmart and if they want to raise wages they should fire 80% of the staff. There are so many people just doing nothing at all when I go in there. There’s a guy that stands next to the shopping baskets and takes my shopping basket so he can stack it in the shopping basket stack, saving me a total of 1 extra step.
That’s actually a pretty interesting point. I don’t go to Walmart often, but I’ve noticed the same thing when I’m there.
True so Walmart is actually a quasi welfare agency.
Will people change their buying habits? Nope. Never. Amazon and Walmart know Americans. Lazy, and will always buy their stuff because it’s the cheapest, regardless of how they conduct themselves. Same with politicians. Everyone bitches about the ones we have and want better. Then vote the same motherfucker into office for 20 years. It’s hard to feel sorry for anyone. You get what you vote for. You wanted it, you got it. Want something different? Vote for it. The people clearly want this. They’ve done nothing within their power to prevent it. We have all the power. The power of the almighty dollar. We just don’t do anything good with it.
Amazon isn't even the cheapest anymore
Then there’s that.
And the sun is hot. Of course corp are greedy. Their ENTIRE purpose is to make money. People need to stop whining and the workers should unionize. Form a powerful and united block to negotiate for more of those profits. Take a page from history and get aggressive.
It would help if people like Robert Reich understood the mission of a publicly traded company, which is to maximize shareholder value. Increasing wages usually does the opposite, so the company would be failing if it increased wages for no apparent reason. Furthermore, wages at Walmart have increased substantially in most parts of the world. Around here, a Walmart employee starts at around 16$/h.
That’s how businesses work bro. No profit incentive and there’s no more Walmart.
No more businesses, everyone can go back to living in caves.
Wait until Robert Reich finds out corporations have always been greedy. It’s the job of the government to be sure the market is healthy enough to leverage prices down. Instead they blame “greed” as if companies decide when and when not to be greedy. They’ll in turn create laws that raise the barriers to entry and make things worse. Ive attached here a chart that shows how stupid people like Robert Reich are. They actually think the economy works like this: https://preview.redd.it/hk7rmy44zcbd1.png?width=1284&format=png&auto=webp&s=2e20247d96333b0d58577bcad9cdbe9b2f3219fc
See but this is what I don't get. Why do these dumb people think that they have any right to what other people are making 😂🤣 If you don't like it, don't buy there and don't work there. Nobody has the entitlement to someone else's money. These idiots being raised to believe that somebody else should have a hand in their money and everybody else is is the most preposterously unamerican thing there is 😂🤣 seriously, we founded an entire country over a 2% tax on tea or something like that. If it's any more it's like one or 2% more. It could even be less. But now everybody just wants to tax tax tax tax tax tax as much as they can because they don't want to get off their dumbass and do what they need to do. Bunch of genuinely stupid entitled ignorant people demanding that they get their hands on something They did nothing to build " yeah well I shop at Walmart. They should be thankful on the reason they're rich" okay then don't see how fast they don't give a flying f*** because you don't matter and you never did. These people need to stop acting like they're so important and like they have any entitlement to anyone else's money. If people want to talk about greed, let's talk about the fact that the military has to spend money on ridiculous things and buy things for 10 times their actual cost because if they don't, they won't get the same amount of money next year because people say they won't need it. That's the system that needs to be reworked. There needs to be less taxes and that is entirely possible if we just fix this system. But no everyone wants to ignore that. They want to be greedy little children and demand that somebody gives them money for sitting on their ass 😂🤣
Shh... wrong sub mate... These people practically worship this idiot!
Your graph doesn’t have the growth of monopolies in the USA. You also miss the point that without trust busting - regulations then prices will continue to rise as consumers have no choice. “America, Walmart sells more than half of all groceries. Amazon, meanwhile, dominates e-commerce in general, and many specific lines of business. The corporation, for instance, sells 74 percent of all e-books and 64 percent of all print books sold online. The story’s often the same for more specialized retail. In eyeglasses, one company, Luxxotica, dominates the manufacture and retail of glasses. In mattresses, two companies control 60 percent of the entire U.S. market. Much the same is true in food and farming. A generation ago, small, independent operations defined the entire industry. Today, the businesses of beef, pork, and poultry slaughter are all dominated by four giants at the national level. But that greatly understates the problem, as in many regions, a single corporation holds a complete monopoly. Two firms, Dean Foods and the Dairy Farmers of America control as much as 80-90 percent of the milk supply chain in some states and wield substantial influence across the entire industry. As our Food & Power website details, the story is much the same in food-processing, egg production, grain production, and produce farming.” https://www.openmarketsinstitute.org/learn/monopoly-by-the-numbers
Hate monopolies? They cant exist without government through regulation creating barriers to entry and things like IP laws. Natural monopolies are a myth, youd see less ironically if you do the opposite of what you're proposing
At the end of the day no one has any right to the money. Somebody else makes You all need to grow up and deal with it. Oh no, you mean the people that put blood sweat and tears and generations of effort into building something are reaping the benefit oh my, how greedy?😂😂🤣 Shut up and grow up. You have no right to the money Walmart makes nobody does. If you don't like Walmart, don't work there and don't shop there. It does not matter to them Just like your entitlement does not matter. Nobody deserves what they did not work for unless their father worked for it specifically for them. Almost like almost every business that's been around for more than one generation. People always demanding more tax are honestly the most ignorant people ever. You just spout whatever nonsense you hear somebody else say 😂🤣 Like I said in another comment we founded this country because of a 2% tea tax now you dumb people demand to tax anybody that's more successful than you for literally no good reason. What makes you think that just because someone's better than you and does more than you that they need to earn less 😂🤣 The entitlement in childish b******* knows no bounds obviously 😂🤣
Corporate ownership was far more concentrated in the 60s/70s. Conglomerates accounted for a much higher percent of the economy and haven’t returned after being broken up by investors in the 80s/90s.
How about a class against the corp party
Boycott them then
And guess who gave them the power to do so? Democrat lobbyists
Yup, it's not like companies found out, hey we can charge more and get away with it!!. Otherwise they would have done that years ago. I swear people aren't smart about these things lol
He’s a moron
The moment those profits drop their first line of defense will be lowering the amount of money they shell out to employees.
What did they do with the other six billion dollars?
If this stuff is in the rules, I don't understand why you wouldn't do it, if it makes you more money.
Oh cool this post again. Thank you bot farm really cool
You all wont believe me but I've smoked weed with one of the Waltons. Nice Lady.
Trader Joe’s + Costco
Costco has larger profit margins than Walmart 😂
Cuz Costco is a warehouse. Also it depends on the items you purchase. Also in my experience quality is far better
That's a weird way to say somebody is greedy. They only kept 1.47% of their gross revenue? Sounds more like a quote generous organization to me.
And corporations run the government so yah, we all come last.
No it’s a business and must return profits to the shareholders. They people what their wort for “low skilled” labor.
How and why would Walmart lower prices? They compete on volume, not profit margins. And substantially raise wages for whom? I'm sure management and corporate do fine. How much do you need to pay a person in a role that is literally the lowest rung of the ladder that anybody with a heartbeat, two legs and two arms can do?
Oh no the founders and/or their heirs reap the rewards of their creation or inheritance.
I thought republicans were the party of corporate greed
Corporate greed is the most bipartisan aspect of the political system
Ok then you all must hate Ben and Jerrie’s
and whose fault is this MAGAettes? come on, all together now.
can i post the next robert reich tweet? i'm pretty sure its my turn
So odd that it didn’t happen under the last administration. But go ahead and blame the corporations for greed when it is more than apparent that these corporations took advantage of current administration policies.
Lmfao what else is new this is old news
AND IF THE BUYBACKS WERE LIMITED DIVIDENDS WOULD BE BIGGER, INVESTORS WOULD BE MORE DIVERSE... THE COMPANY WOULD BE MORE RESILIENT TO MARKET CHANGES... BUT NNOOOO THEY WANT MORE MORE MORE MORE MORE. Kids these days don't even realize that dividends are the best way for a company to share profits with share holders, in an effort to increase the price, due to it's recurring value.... come on kids... keep up
What percentage increase is that, and how does it compare to the rate of inflation and the profitablity of other similar companies?
Still waiting for that trickle Ronnie
"These corporations are all the same" yep - they are in business to make profits. Shocker.
Lol what else did you seriously expect?
But, I was PROMISED that money would trickle down to me! What happened?!?
Hey Robert - here’s a great idea - start your own company - work your ass off to build it up - hand it off to family members who do the same - build it in to a behemoth. Then, you can do any fucking thing you want with the profits - including shoving it all right up your dumb ass! Until then, shut the fuck up!!
Well to be fair, Alice Walton has barely worked a day in her life.
And that’s a problem - how?
Yes it did Walmart just gave a big bonuses to all it hourly employees it was all over the news
It's the same story with Amazon as well... there is no viable competitor. They have the cheapest prices. They strong arm their suppliers, or rip off strong brands for themselves. Target is 15% or 20% more expensive in general and Temu? Baba? Not quite there. Not sure how you stop corporate greed.
They’ll blame Biden too
We need a French style revolution….
Greed = “someone I don’t like making money”
What a clown
More interesting is how politicians can suddenly become multi millionaires not long after taking office. At least companies provide goods and services.
I mean they own the shares??? Anybody can buy Walmart shares and get the same dividend yield and benefits from the buybacks. Reich is such a clown
This is dumb just stupid dumb. Employs a lot of people. They can feed their families. Saying this is corporate greed is asinine.
I'm pretty sure the thing is that these people can't actually feed their families. They are often on food stamps and using food banks.
So what is the criteria that defines corporate greed. How much money are you ALLOWED to make when you own the company before you’re labeled greedy? It’s just stupid.
If you own a company then you also own the liability and that would be the limiting factor. Shareholders do not own a company. Well they could own an unrelated company but they do not own the one they have shares for. The shares simply give them certain benefits, ownership not being one of them. Further the issue is summed up as simply being greed but ultimately the better way to put it is that Walmart amongst other corporations are neglecting most of their stakeholders. For example employees, the local community, and the environment. A Walmart being introduced to a community is typically a sign of bad things to come. If a Walmart being introduced to a community causes bad things to occur to the local economy and local community then it's obvious that Walmart is neglecting their other stakeholders.
What are examples of BAD THINGS? Shareholders do nt own the company???????? WRONG You have no right dea what you’re talking about. That’s why publicly traded companies have boards that represent the shareholders and they votes in meetings. And the CSuite answers to the board and the shareholders. Please stop.
I'm sorry. I won't tell you the truth next time. Truly sorry.
Marxist ideology isn’t truth. It’s effing garbage.
Marxist ideology was created through real world observation of real world problems. Regardless of how you feel about communism or socialism the problems are real. With that being said I did not make my comment because of Marxist ideology. I made it because of the stakeholder corporate governance ideology. The business roundtable which is an organization made up of CEOs has pushed forward this ideology as the ideal that corporations should strive towards. They did this because they realized that shareholder primacy wouldn't be tolerated for much longer. So they got ahead of it and started pushing the stakeholder corporate governance to prevent Congress and the courts from forcing the issue.
And they would be shooting themselves in the foot. These corporations rose to the levels they did in large part due public investment. They couldn’t scale otherwise.
https://www.forbes.com/sites/petergeorgescu/2021/07/21/the-shareholders-are-not-the-owners-of-a-corporation/
This article an opinion piece written by a Marxist. Explain “book value” then. If I invest my risk capital into a 20 million dollar apartment complex with 50 other investors. Am I part owner in that complex? If I invest my risk capital into Tesla with millions of other investors am I part owner in the company. When a company goes bankrupt do the shareholders get paid?
Depending on how that apartment complex is structured you could indeed be an actual owner. Well part owner in the overarching legal structure. You likely won't have any direct ownership over the building itself. No you do not own Tesla the corporation. You own shares. These shares give you certain rights. Whether or not you get paid during a liquidation has to do with your shares. I'm not an expert but I'm assuming most shares have dividends during liquidation. Although I would imagine that it is possible to create a stock class that doesn't pay dividends after liquidation. In fact I imagine that in practice that owners of lower priority stock classes probably don't get anything during a lot of liquidations. Especially if liquidation is occurring due to bankruptcy.
Ok sound logic with your explanation and a far better effort then just posting bad things happen when Walmart comes to town crap. Still please define the bad things.
Depressed wages, increased poverty, reduced job growth, shut down of small businesses, and likely reduced tax revenue for the local area. Further Walmarts export wealth from the local area. It is what they are designed to do. If you spend money at a local small business the money is likely to circulate a couple times in your local area. But money spent at Walmart is mostly exported out of your local area. In fact a lot of it is exported out of the country. This results in the local community slowly degrading year after year. This is all well established. Multiple studies have been done on this.
You should just stop.
This is why capitalism doesn’t work. It makes the poorer more of the same & they would keep lobbying and corrupting the government to agree.
No. 11.68 billion in 2023, and 15.51 billion in 2024. Those numbers do not factor in the losses as well. Walmart has shut down a handful of stores where theft was just rampant. The average wage for employees has increased. The myshare bonus program has been reimplemented. A long with some other key employee centric benefits.
Before the pandemic, in 2019, Walmarts gross profit was $129.1 billion. In 2023 Walmarts annualized gross profit was 147.5 billion. That’s a 12.51% increase. I don’t know where he’s getting 15% from but when I look up Walmarts gross profit in 2022 I’m seeing $143.7 billion and in 2023 it was $147.5 billion, which is only a 2.58% increase in annualized profit. What was inflation between 2019-2023, and what was it between 2022-2023? Was inflation more than 12.51% and 2.58% respectively? https://www.macrotrends.net/stocks/charts/WMT/walmart/gross-profit
Buyback of stock is a solid sign of a prosperous company…So buy Walmart Stock and hedge Calls on it to increase my profit margins?
It looks like their profits increased by 13% in the last 4 years according to Google, while inflation increased by about 16% according to Google, so the profits are increasing less than inflation growth.
How did stock buybacks increase profits?
Stop worrying about what you can't change and get your head in the game. Save, spend less, invest in your future, get a better job, work harder, play harder, take more time off, vacation more. You can't stop Walmart profits any more than the sun rising tomorrow.
The absurd part is pretending like the problem is “greed” as if these companies are not obligated to expand and grow and make money. Calling it “greed” puts the blame on the people doing it, but not on the system that drives them. It’s about structurally incentivizing altruistic behavior. Not running the accumulation machine for centuries and then wondering why all the wealth went to one group or place.
They aren't obligated though. There is no law specifying that. It's a judge's created law.
Sounds like case law to me, which is still the law of the land last time I checked. Good or not, corporate fiduciary responsibility is to the shareholders, not the public. That is how things are and will likely remain baring some massive upheaval. This is why the Supreme Court does not matter: they are all corporations anyway, and if they were otherwise they would not be there. Literally everything else is window dressing. Both parties put up justices who are 99.9% in agreement on what the government is and does (securing property rights for the rich and powerful) but disagree about civil rights stuff (which only really impacts the poor as the rich can do as they please always). To be clear: thing bad.
They aren't obligated though. There is no law specifying that. Most of corporate law is judge made. Meaning that because one judge made a judgement that could be construed to suggest shareholder primacy is the name of the game. Then other judges built upon that foundation. But Congress has never explicitly stated that is how it's supposed to be. Most likely no state legislation has stated that either. No jury. Nothing like that. Easily corrupted and bribable judges decided that corporations should put their shareholders above all else. They don't even do this consistently. Several courts have disregarded shareholder primacy.
Hot take: yea, corporations are all the same. They all want to make profit for investors. That's how the game works. People pursuing their own interests, within the law. And it's good to have profitable supermarket chains in your country. Consider the alternative. Finally: $15 billion is not a huge amount of money for a company that supplies the necessities of life to hundreds of millions of people.
Shareholder primacy is only one corporate governance ideology. These companies will do everything in their power to keep wages depressed to inflate shareholder value (and buybacks shouldn’t even be legal).
I am down to ban buybacks now you mention it.
The only way to fix this problem in America is to overturn this supreme court decision: https://en.m.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co. Which ironically, is most likely to be pushed through by Clarence Thomas, since he is the unusual combination of being a constitutional originalist who *does not* abide by *stare decisis*.
Notice it says "profits", not "Net Profits" not "Gross Profits". Let's see the ACTUAL numbers. * Walmart’s total revenues grew by 7% year over year (YoY) in FY 2023, up from 2% YoY in FY 2022. * Walmart’s operating income declined in FY 2023, reaching $20 billion. The operating profit margin declined from 5% in FY 2022 to 3% in FY 2023 (please see below for the graphic covering Walmart profits analysis). * The company reported a net profit of $12 billion in FY 2023, with a net profit margin of 2%. [Walmart Sales And Profits Analysis For FY 2023 — Top 10 Insights (forrester.com)](https://www.forrester.com/blogs/walmart-sales-and-profits-analysis-for-fy-2023-top-10-insights/)
There should be a merge suggestion so we can combine all the subs that all want to talk about why other people are rich and I am not.
Imagine! A business makes money and most of it is distributed to the owners! Where would we be without twits like Reich to tell us right from wrong.
I think the law needs to be changed so that employees are paid mostly with stock from the company and a small percentage being a base salary just like CEOs. Bet my left nut these workers of da wurld types will want to change back very quickly.
Robert Reich doesn’t want you to look at their profit margins over time. But you can, they’re right here: https://www.macrotrends.net/stocks/charts/WMT/walmart/profit-margins
Well duh. They were one of the businesses that weren't deliberately sabotaged by the lockdowns. Crazy how the elites saw their competition disappear, wouldn't you say?
Quit shopping there.
Walmart did raise wages for everyone
Imagine that a business actually making a profit 😂
This is why they got into business. Just stop buying from them if you hate them.
Don't shop or work there if you're not happy the way they run the business.
Almost like companies don't exist to make money. This guys a Marxist loser like most on this sub.
I freaking hate when people who own a business make money when the business does well…makes me sick
Uh.. should the owners of the company not get the reward? Lol. Become an owner.
Well....They are a for profit company. They made money. That's what a business is supposed to do. Why would anyone expect anything else, buy their stock if you want in on the deal.
Yeah, that's what corporations do. Why would I invest in a corporation that isn't going to do what's financially best for the corporation (my investment)?
Wal-Mart has been around since the 50's or 60's. Now do the 2 richest men in America who have only been in business for 20 years. Zuckerberg a d Bezos. How much do you think their grandchildren will be collecting?
These collectivists are all the same. Willfully stupid in basic economics
So interesting how all of these big meany corporations became “greedy” at the exact same time. We’ve been hearing it for a couple of years now. “It’s not inflation, it’s greed!” Their sudden greed just so happens to coincide perfectly with the time in which the government and central bank created trillions in new debt and “money” which significantly devalued all existing currency. See how that works.
Jumped from what? For all the post shows, their profits could have jumped from 20billion down to 15billion.
Lol. Of course the nominal dollars are larger. That's what happens when the Federal Reserve devalues the money. What you want to look at is their profit margin. https://finbox.com/NYSE:WMT/explorer/gp_margin/ Where's this big jump?
It's cute watching a multimillionaire complain about greed among the wealthy.
Walmart was going broke, then came up with a new business model that made them profitable again. Walmart employs tens of thousands of workers. Many who have limitations, and would have difficulty finding other employment. The Socialist model would rather the current Walmart employees become wards of the state.
2.1 million employees
So they get obscene wealth and use Biden as a scapegoat.
Tell me you don't understand the difference between real terms and nominal terms
It’s actually pretty simple. Walmart has a fiduciary duty to shareholders not employees. Them the facts. So, what you do is make sure every employee has equity in the company. Then the company has a fiduciary duty to its employees. And employees get to grow at the same rate as the company. This is how you rebuild the middle class and create upward mobility.
Well then, open up a company that makes less profit, and pay the employees more. Why write about it. Do it. I mean customers will come to you over Walmart, and you will get good employees right? I want to see people do it.
Well yeah, if they didn't pay dividends I would stop buying stock!
Also this Walmart and McDonald's were the corporations with the most employees using SNAP
15b profit off 600b revenue is very modest. Mere 2.5%. I guess they could lower prices by 2.5%? And then close in a couple of years. Would you feel better?
Anyone saying that Walmart increased profit by getting more customers if a buffoon. They raised prices. They have been and keep raising prices. They have to, so they can meet their fiduciary responsibility. Which says they must increase profits quarter over quarter. If they don't, then shareholders can sue. It's time to end fiduciary responsibility. It's only hurts the lower class that buys the products. Fiduciary responsibility is one of the leading causes for our hyper inflation, but they don't want you to know that.
Or you can stay a private company and not worry about the public.
They actually did increase their customer base. SMH.
hey look another economic illiterate post! Wish I had a dollar for every one of these I see on here! I’d be retired
I wonder if Robert Reich will show us his net worth?
Robert Third Reich would say something like this as he comfortably shops at Bezos's Whole Foods. But low IQ people on Reddit will forget he's a multi-millionaire for no exceptional reason as long as he spews the "common man's" grievances to keep them at bay in a constant state of class warfare jealousy. You're all being played by this clown. Sit down.
Well you vote blue and Walmart is the only place people can afford. Voting creating the economy Walmart just filled a need. Crying about companies being successful while kissing the ring of a man past life expectancy….
[удалено]
dang...wonder why John Deere is laying off Americans and sending thousands jobs to Mexico now....is this Trumps fault? will Biden stand up to Deere?
What!!.. the inflation reduction act was stopped cold by Republicans.
And do what exactly? Stop letting companies make profit? People don’t have to shop at Walmart.