WIMPY WAL-MART…
The gnomes do not think that Wal-Mart has had a good week (month, year; take your pick). In fact, Investor’s Business Daily, thinks that Lee Scott is acting like a girly man. It has this to say to its readers this morning:
Last week, Wal-Mart adopted a new green agenda. This week, it joined with labor unions, left groups and other big corporations to push universal health care. What next, an end to everyday low prices?
As anyone who reads IBD knows, we’re huge fans of the big-box discounter. As much as any institution in American life, Wal-Mart has helped to make us all richer — mainly by providing goods we want at rock-bottom prices.
Study after study has confirmed Wal-Mart’s enormously favorable impact on the U.S. economy. One done by McKinsey & Co., for instance, said that about one-quarter of the late-1990s productivity boom was due to Wal-Mart.
A new one by Global Insight found Wal-Mart prices are 7% to 39% lower on average than its rivals. With last year’s $315.6 billion in sales, Wal-Mart thus saved consumers at least $25 billion. When you add its impact on other companies’ prices, as George Will recently noted, the amount saved soars to $200 billion-plus.
That Wal-Mart’s success has bred antagonism is no surprise. Labor unions, environmentalist activists and women’s groups all target the company for its supposed sins. What we see, increasingly, is Wal-Mart finds it easier to compromise than to fight — even when it’s right.
Or, maybe your gnomeness, it’s not right and all the numbers are lying to you?
[...] WIMPY WAL-MART… The gnomes do not think that Wal-Mart has had a good week (month, year; take your pick). In fact, Investor’s Business Daily, thinks that Lee Scott is acting like a girly man. It has this to say to its readers this morning:Keep reading… [...]