Originally Posted by
Nextlife
"Sum Ting Wong -- I assume Walmart is not among the holdings in your retirement fund. Do you have it all stuffed in your mattress?"
I said they were souless and I didn't like their business practices, not that I was poor. I try to shop there only when I need to (like when I need groceries at 2am when I'm working nights and no one else is open), but their stock is strong and dividend growth from one year to the next is one of the best out there. They certainly know how to make money and I'm not going to pass up taking some of their profits, 'cause let's face it, they're a juggernaut that is here to stay. Not a moral decision, just a financial one.
Wal Mart pays better wages and has better terms and conditions for employment than it's competitors in the discount retail market.
That's why there is always a long line of applicants every time Wal Mart opens a new store. The applicants are people who are employed at Wal Mart competitors like Walgreens and Target. They want to get jobs at Wal Mart because Wal Mart is a better employer.
The sad truth is that wage scales in the discount retail industry are relatively low compared to other industries, but Wal Mart is a relatively higher wage scale employer in that sector.