Archive for the 'Depression' Category

You can’t shop at Walmart if you’re dead.

Monday, November 9th, 2009

From the NYT (via Calculated Risk): “There are families not eating at the end of the month,” said Stephen Quinn, executive vice president and chief marketing officer at Wal-Mart Stores, and “literally lining up at midnight” at Wal-Mart stores waiting to buy food when paychecks or government checks land in their accounts. So is Walmart […]

THE CHARM OF SOMETHING FOR NOTHING…

Saturday, June 13th, 2009

I meant to post about Liar’s Poker author Michael Lewis’ perspective on last year’s Wall Street crash earlier because of the insights it offers to what being a corporation in a Republican America means. The snip below is Lewis’s conclusion. The whole piece is a real pitchfork and torch raiser. Now I asked Gutfreund about […]

MORE ON THOSE 22,000 MCJOBS AT WALMART…

Sunday, June 7th, 2009

Walmart made big news — finding a headline that didn’t scream Walmart creates 22,000 jobs would have been difficult — with its jobs growth prediction this week, but financial writer Douglas McIntyre spotted an interesting twist on the story. In the final paragraph McIntrye notes what Walmart chose to do do what corporations are created […]

WALMART TO ADD ONE-THIRD FEWER JOBS…

Thursday, June 4th, 2009

That’s not the headline you’re reading after the announcement yesterday that Walmart intends to add 22,000 news jobs in 2009. News-release hooked journalists lede with the 2009 number and most miss that in 2008, the company added 33,000 jobs. CNN Money, puts the smaller number in its headline, but at least remarks about the drop […]

AND THAT MAKES IT OK…?

Sunday, May 17th, 2009

Time Magazine reporter Douglas A. McIntyre resorts to the childhood chestnut the other kids are doing it, rationale in defense of Walmart’s announcement this week that it will suck pennies from customers’ pockets by marketing dollar items. Wal-Mart and McDonald’s are often criticized for selling “cheap” food and merchandise and treating their employees poorly by […]

AH, SOMETHING FINANCIALLY THOUGHTFUL…

Monday, March 9th, 2009

I don’t agree with everything that Lawrence Delevingne has written for Fortune on Walmart, but at least he’s not salivating about Walmart’s higher-than-anticipated sales in January and February like the Wall Street shills out there. Delevingne goes long view with his lede, attributing Walmart’s standout in the market right now to work over the past […]

WHY DOES ANYONE BELIEVE THESE PEOPLE…?

Sunday, March 8th, 2009

Last week Jon Stewart turned his comedic sense on the financial flacks at CNBC and nailed the lot to the wall. Robert’s analysis of the real meaning of the Walmart’s 15 percent dividend is also dead on. Unlike this from Steven Mallas: Wal-Mart certainly has the cash-generating power to fuel this increase. A look at […]

THE ASSISTANT MANAGER TALKED TO HIM…?

Friday, March 6th, 2009

I post lots of stupid videos in my At The Wallyplex series, but there are serious citizens stepping in to pick up the slack in business news that you won’t find on CNBC. You might actually be in better financial shape if you’d been watching George4Title. And just how long will those $11 shoes last? […]

EVIL LORDS AND FAIR FARMERS…

Thursday, March 5th, 2009

Back in the day, the company store looked pretty damn good because it was the only place that would extend a coal miner or lumberjack credit to keep beans and cornmeal in the family pantry. But even a fairy tale can’t pretty up Walmart. From the Fayetteville, Arkansas Traveler: Suddenly, the evil lord didn’t seem […]

IT’S ALL A MATTER OF PERSPECTIVE…

Wednesday, March 4th, 2009

Blogger Andrew Sullivan is running an excellent series tagged: The View From Your Recession in which his readers share their stories of how their dealing with our deepening depression. This morning this bit caught my eye: After all, what do you do when you used to have a couple billion dollars and now you only […]

WAS IT ALL THE UNIONISTS…?

Wednesday, March 4th, 2009

Walmart’s five-year experiment of going head-to-head with Costco in Walmart is over and Costco won. Walmart is closing it six-store Sam’s Club operation in Canada and a lot of people are out of work when it’s not good to be unemployed. Walmart is hopeful. The store closures will affect 1,200 employees. “We are hopeful many […]

In which I get all nostalgic.

Monday, March 2nd, 2009

This is from Jacksonville.com: I have many fond memories of us here at the Writing on the Wal debating libertarian lunatics about whether huge lines outside of Walmarts meant that Walmart jobs were good or whether the economy was bad. [Indeed, Jeff was holding down the fort on this front before I even got here.] […]

HOLD OR BUY WALMART STOCK… PLEASE…

Sunday, February 22nd, 2009

In the week that the Dow Jones closed at 7465.95, the lowest point since October 2002, the Wall-Street apologists continue to tout what may be the one stock that doesn’t totally suck in the hopes of getting anyone to buy something, anything. Please? This weeks plead-fest is courtesy of Alex Salkever who writes: This time […]

PEOPLE STILL HAVE TO EAT…

Tuesday, February 17th, 2009

Walmart publishes not-disasterous sales numbers in our slide into a recession-cum-depression and Wall Street celebrates. They’re so desperate for good news that they’re clutching to every Walmart report like it’s the painter on Noah’s ark. Meanwhile, Wall Street continues to ignore that when people are counting pennies, the place where people can spend what they […]

WALMART CUTTING SOME LOSSES…

Thursday, February 5th, 2009

As I read my morning news the first ten stories on my reader page had some permutation of the headline: Wal-Mart sales beat estimates. But beating a low-balled estimate isn’t difficult. I found a more interesting head on page 2: Wal-Mart donates building. Why in the world would Walmart give away a perfectly good building? […]