Wal-Mart stocks are taking a major hit. They just had their biggest one-day drop in
over 15 years.
COMMENTS:
It’s no big surprise.
Their recent announcement that they have raised minimum wages to $15 per
hour ticked off a whole slew of other employees who didn’t get a single dime in
the way of wage hikes. With the increase
of minimum wage came sticker-shock to Wal-Mart patrons and a huge earnings decrease. Sales are not only off, but many stores are
suffering with perishable inventory that is simply no longer flying off of
store shelves. And their CEO still doesn’t
understand the big picture. The Waltons
built that business into what it is today by listening to their employees and
their consumers; today’s management seems to think that employees and customers
don’t have any right to tell the
company how to run its business. Well,
the lesson here is simple: when you quit paying attention to what people want, you
pay the penalty instead.
TODAY’S QUERIES & ANSWERS:
Q. What do you have to say about Biden not running? (Minerva ~ Roseville, CA)
A. It caught me by total surprise. Maybe he’s not as dumb as he looks. Maybe he recognizes that since he supports
Obama’s policies 100%, he doesn’t stand a chance. Maybe Hillary threatened to cut off his
emails. Who knows???
Q. Did I hear that Jeb Bush is chastising Christians who don’t
want more Muslim refugees headed here?
(Carla ~ Santa Maria, CA)
A. No, but one of his former speech writers has said that American Christians aren’t Christian
enough if they don’t want to fund or house Muslim refugees from the Middle
East. I just scratched Bush totally off
my list of acceptable candidates. Maybe
the Bush family won’t mind setting up a Muslim refugee camp on their Texas
ranch.
Q. I understand that Mitt Romney is blasting conservative
Republicans. Is he trying to totally
destroy the party? (Harvey ~ Kenmore,
WA)
A. It does appear that way, doesn’t it? I guess it hasn’t dawned on Mitt yet that he’s
never going to be president. He says that conservatives prevent Republicans
from compromising more with Democrats, so I assume that Mitt is now revealing
that he is a closet Democrat and always has been. The only way you can compromise with a
Democrat is to roll over and play dead, because they will accept nothing
less.
TODAY’S QUOTE: (Lost art?)
“At Wal-Mart, it goes back to Sam Walton and the foundation
and business model that we simply operate for less, or everyday low cost. We’re known for operating in a very efficient
way and then giving those savings to customers.” ~ Mike Duke
TODAY’S VIDEO:
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