Salmon, you know what I love about this country? -Wal-Mart. I love how we can leisurely stroll through any store in this country and instantly feel better about ourselves. Because lets face it, if you end up feeling worse about yourself, then you've got some real problems. Wal-Mart's got it all. You want a big tupperware container to store all of your shit? Wal-Mart's got it! You want a knock-off Zack Greinke shirt? Wal-Mart's got it! You've only got $5 bucks in your pocket and you've been dying to see the movie Just Married- Well guess what? Wal-Mart's got that too!
They are the world's largest retailer, that's causing the world to be just a little bit worse place to live. I'm an educated man. I've got a degree in Economics from the University of Missouri. Guess what? Wal-Mart money runs that school! Bet people didn't know that? There's a huge mural of Sam Walton right there in the Business school's foyer. Incidentally, its right next to the bathroom. Speaking of Sam Walton, I've done a bit of studying about him. I've read his autobiography. He was raised of humble beginnings in Columbia, Missouri graduated from college and made his way in the world. One hostile takeover of small town at a time. I guess you've got to give it to the guy. He had sharp business instinct, and slowly built his brand into world recognition. But what have we learned from this? What is the endgame?
I've got a few thoughts on that. Recently, I was assigned a homework assignment in one of my MBA business law classes to discuss the ethical nature of the Debbie Shank v. Wal-Mart Missouri Supreme Court case. If any of you mouthbreathers don't have a clue what I'm talking about, here's a synopsis: Debbie Shanks was a Wal-Mart employee in Eastern Missouri when she was severely injured in a car accident derived from a collision with a semi-tractor truck. Medical expenses exceeded $420,000. The Wal-Mart Health and wellness plan fully covered all of her doctor bills. Shanks' injuries have left her without the ability to work or ever live a normal life again. In the meantime, Shanks sued the semi-truck company and eventually settled for $700,000. This money was put into a trust which pays for Shanks' nursing care needs. All is settled right? -Nope. Wal-Mart comes in and files suit against the Shanks in hopes of recovering the $420,000 that was provided by Wal-Mart by the company's own health plan. The move was a legal maneuver by the company and as a result the court's decision was in favor of Wal-Mart for the Shanks to repay the medical expense money. The Shanks appealed the decision and lost that battle too.
One would ask, how much money does Wal-Mart need? How much is enough? Was it ethically right to go after a mentally disabled former employee? Probably not. But was it legal? Yes it was. Media pressure ascended down upon Wal-Mart executives and they eventually dropped the case, but its just another example of the hawk-like nature of greedy corporate CEO's.
We all know about how Wal-Mart puts pressure on their suppliers to constantly lower their prices, which will in-turn cause Wal-Mart to sell at lower than market prices to the consumer. This causes Wal-Mart to hire and employ labor for right around minimum wage level. Multiply that by hundreds of thousands of worldwide employment, and you've got a global economic meltdown on your hands. Is this what Sam Walton envisioned? Probably not, but its no doubt that he laid the groundwork for this outcome to take place.
I recently visited the Wal-Mart headquarters and visitor's center in Bentonville, Arkansas on my way to a baseball game. I took note at the simplicity of the original headquarters. Placed innocently in a small town square, adjacent to a statue of a confederate soldier. It was tough for me to imagine global domination from such a quaint beginning. -But then as the old saying goes. Rome wasn't built in a day- and neither was Wal-Mart.
Sam Walton was truly a pioneer of the retail business. Many, many books and articles have been written in his prowess. In many ways he is revered upon as an innovator. In other ways he's jeered upon as his successors have preyed upon the little guy. He always said in his comments that, if it wasn't him- it'd just be someone else....Perhaps he's right. But what concerns many that thinks along the same lines, is that this capitalist system put this opportunity in place. I'm not considering abolishing the free market, but I do support certain reforms that reduce unemployment, especially among educated citizens. India and China are miles ahead of us in this game, and its time we follow suit.
Aaron
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