Sam's kids are struggling

Discussion in 'Politics, Religion, Social Issues' started by Sydde, Feb 20, 2013.

  1. Sydde macrumors 68020

    Sydde

    Joined:
    Aug 17, 2009
    #1
    w-mart seeing poor sales

    Wal-Mart shares are tanking after the company's executives called February sales a "total disaster."

    “Have you ever had one of those weeks where your best-prepared plans weren’t good enough to accomplish everything you set out to do?” Wal-Mart exec Cameron Geiger wrote in one of the emails reported by Renee Dudley at Bloomberg. “Well, we just had one of those weeks here at Walmart U.S. Where are all the customers? And where’s their money?” Geiger asked.

    Wal-Mart is facing a scary reality: the ailing finances of its core customers, Brian Sozzi, chief equities analyst at NBG Productions, told us. "Wal-Mart shoppers are the barometer of the U.S. consumer, and these emails reflect common sense about customers," Sozzi told us. "The consumer isn't mentally or physically ready to spend on discretionary inventory and there's no reason to be optimistic."

    Wal-Mart's strategy has always been to lure in customers with really low prices, undercut the competition and effectively corner the market. It looks like that strategy has back-fired on them: they have become bottom feeders, and there is just not that much left at the bottom of the barrel. Mostly just dregs.

    So what do they say the problem is?
    The Wal-Mart executives blamed the hike in payroll taxes and a delay in tax returns for why customers aren't shopping, according to Dudley's story. "When a payroll-tax break expired Dec. 31, Americans began paying 2 percentage points more in Social Security taxes on their first $113,700 in wages," Dudley reported. "For a person making $40,000 a year, that is about $15 a week."

    No, it is not their scorched-earth-drain-the-local-economy practices, it has to be taxes. Always blame your problems on someone else. Always.
     
  2. afireintonto macrumors 6502a

    afireintonto

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    Location:
    Portland
    #2
    I see what you did there. :cool:
     
  3. iMikeT macrumors 68020

    Joined:
    Jul 8, 2006
    Location:
    California
    #3
    These are the kind of people who put "con" in conservative.
     
  4. malman89 macrumors 68000

    Joined:
    May 29, 2011
    Location:
    Michigan
    #4
    While I personally just take the additional $25/check in taxes in stride, we employ 350-400+ associates, most of whom make a good amount less than $40k. I've already fielded about two dozen calls this year explaining they're receiving less on their checks merely due to increased payroll taxes.

    For people making $8-12/hour, that $10/week matters. I am always a bit shocked, but not surprised, to see most have balances between $0-5 on their pay cards until their next pay day (which is every Friday).
     
  5. Thomas Veil macrumors 68020

    Thomas Veil

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    Location:
    OBJECTIVE reality
    #5
    Working at low-paying part-time jobs.

    In the pockets of the 1%.
     
  6. VulchR macrumors 68020

    VulchR

    Joined:
    Jun 8, 2009
    Location:
    Scotland
    #6
    Perhaps if Wal-Mart didn't make their customers feel like they need to take a shower after visiting their stores the profits would go up. Wal-Mart: Yuck.
     
  7. 2020mike macrumors 6502

    Joined:
    May 14, 2012
    #7
    Lets continue to blame the 1% for all of the problems of America.
     
  8. ugahairydawgs macrumors 68020

    ugahairydawgs

    Joined:
    Jun 10, 2010
    #8
    http://www.washingtontimes.com/blog...rt-chairman-gives-1m-obama-super-pac-bundler/

    ----------

    Yep. I go into Wal-Mart a few times a year and the common thread from every time I go there is that I remember why I do most of my shopping for that kind of stuff at Target.
     
  9. GermanyChris macrumors 601

    GermanyChris

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    Here
    #9
    Sounds like a plan!
     
  10. Zombie Acorn macrumors 65816

    Zombie Acorn

    Joined:
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    Location:
    Toronto, Ontario
    #10
    Quick, get the government to tell the people that its their patriotic duty to buy **** they don't need.
     
  11. thejadedmonkey macrumors 604

    thejadedmonkey

    Joined:
    May 28, 2005
    Location:
    Pa
    #11
    How are you in a position to see people's checking accounts like that? Unless you mean a business that pays employees on credit cards, in which case are you sure they're not simply moving the money into a bank account?
     
  12. samiwas Suspended

    Joined:
    Aug 26, 2006
    Location:
    Atlanta, GA
    #12
  13. xShane macrumors 6502a

    xShane

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    United States
    #13
    Hahahaha :D
     
  14. likemyorbs macrumors 68000

    likemyorbs

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    Location:
    NJ
    #14
    Once again conservatives demonstrate that they have no concept of personal responsibility. "our profits went down, boohoo, blame the gub'ment!"
     
  15. GermanyChris macrumors 601

    GermanyChris

    Joined:
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    #15
    Those comments are great:rolleyes:

    I'm so glad I'm not exposed to this stuff unless I seek it out.
     
  16. tshrimp macrumors 6502

    tshrimp

    Joined:
    Mar 30, 2012
    #16
    Did I miss in the article where they stated they were conservatives?
     
  17. zioxide macrumors 603

    zioxide

    Joined:
    Dec 11, 2006
    #17
    These comments make a sewage treatment plant look like Buckingham Palace.


    As for walmart? Boo hoo. They should just shut the **** up and stop complaining.

    Maybe the taxpayers aren't shopping there anymore because they don't have any money left. After all, a bunch of their tax dollars are already paying to subsidize walmart's workforce.
     
  18. likemyorbs macrumors 68000

    likemyorbs

    Joined:
    Jul 20, 2008
    Location:
    NJ
    #18
    When it walks like and duck and quacks like a duck...

    Especially given their corporate location, 99% chance they are.
     
  19. Bug-Creator macrumors 6502

    Bug-Creator

    Joined:
    May 30, 2011
    Location:
    Germany
    #19
    Well a few years back WalMart had to unconditionally surrender after failing to establish themselves around here.


    Germany did survive the loss :p
     
  20. TheHateMachine macrumors 6502a

    TheHateMachine

    Joined:
    Sep 18, 2012
    Location:
    Houston, TX
    #20
    1) Evolve a business plan of getting people in the door with no margin store brand products at rock bottom prices while trying to up sell higher margin name brand products.
    2) Average consumers who fall for your plan start being more conservative and frugal with their money and avoid your high margin products for dirt cheap store brand products.
    3) ????
    4) Don't profit and blame the "gubment"!

    Yup... sounds about right.
     
  21. TheHateMachine macrumors 6502a

    TheHateMachine

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    Houston, TX
  22. malman89, Feb 22, 2013
    Last edited: Feb 23, 2013

    malman89 macrumors 68000

    Joined:
    May 29, 2011
    Location:
    Michigan
    #22
    It's not a checking account. It's basically a debit/credit card through a bank that we administer. The system is for those that don't have/don't qualify for a bank account and our payroll company requires direct deposit - so it's either a bank/credit union or this paycard. They definitely don't have other accounts - I can tell from when someone calls in angry or frantic that they lost their paycard or how excited people are once they finally do qualify for a bank account and cancel their paycard and switch to checking/savings direct deposit.

    Our HR Manager and I are the two admins who get access to enter their names and SSNs (so they can manage the account on their own) and home address (for statements). With that, we can also see their balance (24 hour delay), immediately add money to their cards (helpful with missed hours from payroll mix ups), block/cancel the card, or issue a new card when it's locked.

    It's a two-factor authentication process - username and VeriSign ID Protection mini token (creates a random 6 digit code to be put in every time) whose serial is tied to my login.
     
  23. gsugolfer macrumors 6502a

    gsugolfer

    Joined:
    Jul 11, 2010
    Location:
    Georgia, USA
    #23
    Always blame your problems on someone else. Always.
     
  24. NT1440 macrumors G4

    NT1440

    Joined:
    May 18, 2008
    Location:
    Hartford, CT
    #24
    .....

    You're joking right?

    We are talking about the Walton family here.
     
  25. hulugu macrumors 68000

    hulugu

    Joined:
    Aug 13, 2003
    Location:
    the faraway towns
    #25
    I thought this was widely known.
     

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