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Threat of card check legislation sends Wal-Mart stock rating down

Discussion in 'Political Zone' started by Jordan55, Mar 12, 2009.

  1. Jordan55

    Jordan55 Active Member

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    Way to go, Democrats and President Obama: Carrying Big Labor’s water caused Wal-Mart’s stock to be downgraded:
    And it's only getting better


    Citigroup downgraded Wal-Mart Stores Inc (WMT.N) to “hold” from “buy” saying the proposed card check legislation would increase labor costs and could be a significant drag to earnings for the world’s largest retailer.

    “We believe that WMT would be the primary target if EFCA/card check were to be passed,” analyst Deborah Weinswig wrote in a note to clients.

    If theunions are successful, the company would have to concede higher wages formore seasoned employees, increase employee benefits significantly, and would experience diminished workforce flexibility, the analyst said.

    She cut her price target on the stock to $48 from $53.
    “Saving” the economy by strangling it. It’s the Obama way!
  2. TheCount

    TheCount Pixel Pusher

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    Card check as in green card check? We're against illegal immigrant workers now?
  3. sacase

    sacase Well-Known Member

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    Why do people act like they deserve a certain salary. I used to work at wal mart. The work is not hard and doesn't require skill. Wal mart gives people a chance to get a head. I had a friend of mine start off as a stock person and ended up a store manager. I haven't talked to him in years so he could be in the corporate office by now. If labor costs go up, so do costs to consumers. Hell, Walmart offers medical to part time employees if you have been there for more than 2 years.
  4. Jordan55

    Jordan55 Active Member

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    I believe they are talking union representation for their employees. No not Illegals, but that could change any day now with this administration, hell there already getting government benefits, so why can't they get jobs at Wal-mart, Here I'll help, Count what's your S.S. number?:lmao2:
  5. BrAinPaiNt

    BrAinPaiNt Bad Santa Staff Member

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    I have a thing about wal mart.

    I think they have been a very sleazy company over the years so I can't say I would be too upset for anything that hurts them too much.

    But the problems with unions and such is they get too greedy and go overboard.

    Concerning the drop in wal mart stock. Don't feel to bad. It has already gained some today and is probably going to hit 49-50 before the day is up if it continues to climb.

    Oddly enough I wonder what in the heck happened the other day because the stock market has had a pretty decent jump the last couple of days overall.

    I know what could help wal mart...they could start taking life insurance out on their employees and when those employees die they can collect on that life insurance without the employees or families ever knowing...take all of that money, keep in an interest bearing account and bang...they can pay for the extra wages.
  6. Jordan55

    Jordan55 Active Member

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    I think it stems from the State, not Wal Mart and what you have is a tang.
    Just a word to the wise, please give up the greeter position during the Holidays.
  7. BrAinPaiNt

    BrAinPaiNt Bad Santa Staff Member

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    I don't think I would last long as a greeter at wally world. :laugh1:

    I would get in too much trouble.

    I have too much jokester in me.

    Some at the state capital get a little ticked when I feel like prank calling them. Funny to hear some guy who is in charge of certain things getting mad because someone calls him to order a pizza and gets in an argument with them over why they won't take the order.:p:
  8. trickblue

    trickblue Old Testament... Zone Supporter

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    It's the system that Obama supports that labor unions are requesting...

    Basically it goes like this. If the union comes in a demands a vote by employees, they do it by secret ballot. In the card check system you vote publicly for everyone to see...

    Obviously the only reason for this is they can come back and intimidate those that vote against unionizing...
  9. Jordan55

    Jordan55 Active Member

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    Life is to short not to stir it up a little.:) Please stand clear of the door!


  10. JBond

    JBond Well-Known Member

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    For all the *****ing people do about Walmart they are the lowest price on most items and help hundreds of thousands of families meet their budget. Unions will destroy Walmart just as they destroyed our manufacturing base.
  11. BrAinPaiNt

    BrAinPaiNt Bad Santa Staff Member

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    It does not take away from the sleazy things they have done over the years though does it?

    I am not saying they should or should not unionize.

    I am just saying they have done some sleazy things over the years and I don't know how anyone could argue otherwise if they have looked into some of the things they have done.
  12. JBond

    JBond Well-Known Member

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    I remember about 20 -25 years ago their advertising slogan was "Made in the USA" and their claim to fame was the vast majority of there products were made here. Or was that Kmart? Anyway, I am sure Walmart has done some things people consider sleazy just like Ford and Carnegie and Rockefeller. My point is, right now a company like Walmart is needed for those that can't afford Whole Foods and other higher end retailers.
  13. DIAF

    DIAF DivaLover159

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    Buying frenzy. Things get so cheap, bargain hunters swoop in and pretty soon start driving things up. Also, citi actually earned a profit this quarter and is having their best quarter since 2007. That news spurred a lot of optimism, and thus, buying.
  14. BrAinPaiNt

    BrAinPaiNt Bad Santa Staff Member

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    Yeah I was going to bring that up...Buy in the USA turned into HEY we love nafta and at these prices so will you (of course that second part is my sarcastic slogan they should use:p: ).

    But still...they have done some pretty crappy things.
  15. ABQCOWBOY

    ABQCOWBOY Moderator Staff Member

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    It's funny, the "Card Check" legislation or EFCA, has two sides to it. One is the Card Check piece, which looks as if it will not pass but, if it does not pass their is another side of this thing that may present an even bigger danger.

    http://foxforum.blogs.foxnews.com/2009/03/09/smith_card_check/

    The so-called Employee Free Choice Act (EFCA), the bill containing card check, is no different. Even most of those who understand card check are unaware of the other half of EFCA. The other half is mandatory binding arbitration, another terrible idea from the same people who think that union organizers should be free to harass and intimidate workers into joining unions.

    Once a business is unionized, management and the union have to come to terms on a contract for the unionized workers. This can take months or years as the two parties hammer out their differences.

    Under EFCA’s proposed binding arbitration provision, the government would step in after 90 days and “work with” the two parties. All that is needed is one party to “request” the process. After another 30 days, the government would assign the case to an arbitrator (the rules for which would be written by the Obama administration) who would impose wage and benefit terms for the company for the next two years.

    Arbitrators generally take a split the baby approach and try to come to a middle ground between the two parties. This means the union can make outrageous demands then stonewall an employer knowing they may not get everything in arbitration but they can, with the help of the government, force the employer into concessions that may not be economically feasible for the company. An example would be a new car company — instead of a regular negation process a union could make outrageous demands and wait for an arbitrator to decide the terms of a contract. Understandably the arbitrator would not want to reinvent the wheel so he would look to other existing contracts in the industry. Soon this company would be shackled with the same type of crippling contract as the Big Three and the UAW.

    In the best-case scenario, the collection of Obama appointees would be well-meaning but would still be acting in ignorance of the specific company and what makes the most sense to the workers. (We can say this for certain, since appointees that had dealt with the specific company in question would have to recuse themselves.) In the worst-case scenario, the collection of Obama appointees will be union cronies determined to use the power of government to milk the company dry for more union funds to be used to elect more union-minded politicians.

    It would behoove conservatives to urge card check swing votes like Senators Arlen Specter, Ben Nelson, and Olympia Snowe to vote against binding arbitration as well as card check. Otherwise, expect Harry Reid to pull card check from the bill in a grand gesture of bipartisanship, and slip binding arbitration through as a consolation prize.

    And expect him to express disappointment, while concealing a smile.


    It's always something with Chicago Politics.
  16. MetalHead

    MetalHead Benched

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    How Obama got elected,exhibit A.
  17. SuspectCorner

    SuspectCorner Bromo

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    Yep. Sam Walton is rolling in his grave. I wouldn't wipe my... nose... with Wal-Mart. They'd move all their operations to Mars if they thought there was a nickle to be saved. About the only thing American that firm is still interested in - US kaysh.
  18. Jordan55

    Jordan55 Active Member

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    The Future of America is being flushed down the toilet, by both parties and we have to deal with a President that has no back bone
    Just a telepromter puppet, one giant con job perpetrated on a majority of us, but were all left holding the bag
    Four years until we can make the major flush, just might be to late.


    [IMG]
  19. SuspectCorner

    SuspectCorner Bromo

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    You have it bass-ackwards. Employees would have a choice as to which system they would use and THAT can prevent union-busters from moving in. Get a clue labor-haters - or are decades of stunted labor wages just not enough for you folks? Your ridiculous mindset is a major contributor to the near disappearance of the US middle class.

    http://www.huffingtonpost.com/art-levine/labor-targets-unionbustin_b_173759.html

    http://efcaunionbustingclub.blogspot.com/2009/02/who-is-really-behind-coalition-for.html
  20. MetalHead

    MetalHead Benched

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    Huffington Post...and you question Fox News...

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