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Old 04-03-2014, 04:06 PM  
Loneiguana Loneiguana is offline
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Would Walmart’s Prices Spike If They Paid Their Employees More? Short Answer: No.

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For the derpers out there who won't watch the video, 1.4 percent would be the price increase to save tax payers 300 million a year.

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In the series “The Secret Life of a Food Stamp,” Marketplace reporter Krissy Clark traces how big-box stores make billions from the federal Supplemental Nutrition Assistance Program, aka food stamps. What’s more, the wages of many workers at these stores are so low that the workers themselves qualify for food stamps—which the employees then often spend at those big-box stores.

This video crunches the numbers on how much Walmart, the single biggest beneficiary of the food stamp economy, might have to raise prices across the board to help a typical worker earn a living wage.

A note on methodology: Eligibility for food stamps varies according to income, number of dependents, and other factors. This estimate of Walmart’s potential cost from raising wages is based on wages for a Walmart employee with one dependent working 30 hours a week, a typical retail worker based on federal data.
http://www.slate.com/articles/busine...uch_would.html

And while I'm at it.

Wal-Mart's dependence on food stamps, revealed

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Talk about a "poverty trap"! The phrase was recently used by House Budget Committee Chairman Paul D. Ryan, R-Wisc., to suggest that the nation's panoply of programs to aid low-income households was keeping them from rising into the middle class.

Wal-Mart's annual report, issued late last week, puts a different spin on things. Buried within the long list of risk factors disclosed to its shareholders--that is, factors "outside our control" that could materially affect financial performance--are these: "changes in the amount of payments made under the Supplement Nutrition Assistance Plan and other public assistance plans, (and) changes in the eligibility requirements of public assistance plans."

Wal-Mart followers say this is the first time the company has made a disclosure like that.

The Supplemental Nutrition Assistance Plan, or SNAP, is the formal name for food stamps, which were slashed late last year and again this year by your Congress. The deal Congress reached on the farm bill and food stamps in January will cut an average $90 a month from the food assistance for 850,000 families. That's on top of the cut averaging $29 a month (for a family of three) imposed in November.

Wal-Mart says it gets more than half its sales from its grocery departments. Since low-income shoppers are a big part of its clientele, it's unsurprising that that squealing you hear is coming from its annual report. There's no indication that Wal-Mart executives stepped up to the plate during the debate in Washington to warn Congress off these cuts in assistance to its customers.

One interesting sidelight of Wal-Mart's disclosure is that it doesn't actually discuss how the company benefits from public assistance programs by sticking the U.S. taxpayer with the bill for keeping its workforce fed and clothed. As Barry Ritholtz observed in November, the retailer is one of the nation's biggest "welfare queens": In many states its employees are the largest group of Medicaid and food stamp recipients.

Who's paying for Wal-Mart's addiction to paying its employees less than a living wage? You are.
http://www.chicagotribune.com/featur...,3149252.story
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Old 04-03-2014, 04:30 PM   #2
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1.4% might not sound like a lot, but when you multiply it by the massive amounts of sales done by Walmart, you are taking an enormous amount of money out of the pockets of (mostly poor) consumers. That's a big deal.
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Old 04-03-2014, 04:53 PM   #3
KCFaninSEA KCFaninSEA is offline
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The difference in pricing between WalMart and their competition does not equal the savings the store makes by paying their employees crap. I do not have the numbers but if you take the difference of what they sell versus the difference of what they pay in total compensation I think you would see why they make so much money as compared to their competition.
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Old 04-03-2014, 04:54 PM   #4
mlyonsd mlyonsd is offline
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What you'd see is Walmart reducing labor costs by reducing jobs.
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Old 04-03-2014, 04:57 PM   #5
KCFaninSEA KCFaninSEA is offline
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Jobs that are not a living wage job should be labeled as such. WalMart does not usually pay a living wage just a wage. Big difference.
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Old 04-03-2014, 04:58 PM   #6
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Quote:
Originally Posted by mlyonsd View Post
What you'd see is Walmart reducing labor costs by reducing jobs.
^
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Old 04-03-2014, 05:18 PM   #7
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Quote:
Originally Posted by mlyonsd View Post
What you'd see is Walmart reducing labor costs by reducing jobs.
Right because they're hiring more people than they need right now out of the goodness of their hearts.
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Old 04-03-2014, 05:19 PM   #8
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Originally Posted by suzzer99 View Post
Right because they're hiring more people than they need right now out of the goodness of their hearts.
That doesn't really make any sense.
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Old 04-03-2014, 05:20 PM   #9
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Quote:
Originally Posted by suzzer99 View Post
Right because they're hiring more people than they need right now out of the goodness of their hearts.
What does this mean?
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Old 04-03-2014, 05:36 PM   #10
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Originally Posted by mlyonsd View Post
What does this mean?
It means they need labor to run their stores and they are not over-employing just to be nice and give people jobs.
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Old 04-03-2014, 05:39 PM   #11
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If you like your wage you can keep it....coming soon to a business near you
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Old 04-03-2014, 05:39 PM   #12
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Quote:
Originally Posted by KCFaninSEA View Post
The difference in pricing between WalMart and their competition does not equal the savings the store makes by paying their employees crap. I do not have the numbers but if you take the difference of what they sell versus the difference of what they pay in total compensation I think you would see why they make so much money as compared to their competition.
I know I can go to Hy-Vee and get stuff there cheaper than Wal-Mart and Hy0Vee pays their employees more. Go figure.
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Old 04-03-2014, 05:45 PM   #13
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Would Walmart’s Prices Spike If They Paid Their Employees More? Short Answer:

You don't know. That's why you don't own or run a Walmart.
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Old 04-03-2014, 05:46 PM   #14
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Dollar Store beats Walmart on prices. They just don't carry as much variety.
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Old 04-03-2014, 05:59 PM   #15
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Quote:
Originally Posted by listopencil View Post
That doesn't really make any sense.
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Originally Posted by mlyonsd View Post
What does this mean?
We've had this discussion before. Everyone on here just assumes corporations will raise prices or cut workers if their labor costs go up. As if corporations have some hold on their consumers where people have to put up with bad service or higher prices instead of just walking away. Most businesses are not captive monopolies.

In general corporations will do what they think will make them the most profit in the long run. If they under-employ their stores with over-worked stressed out employees and piss their customers off, or scare customers away with higher prices - then that could cost them even more money in the long run. They might decide that in the face of increased labor costs the optimal path is to just the hit and live with slightly lower profit margins. Or if they don't some competitor will come along who can.

Sometimes profit margins go up, sometimes they go down. Profits are not just a one-way ratchet that can only go up - and they have gone up wildly in the last two decades due to globalization, cheap capital and increased productivity.

Smart companies will not cut off their nose to spite their face and drive away customers just because they have to pay their employees a couple bucks more per hour. Or more likely they'll do some combination of cutting back a little, raising prices a little, looking for productivity gains, and taking a slight hit to their margins.

But most of all they will create propaganda campaigns and lobby congress to block any legislation that could possibly affect their bottom line - before it happens. Because like the that's by far the most profitable line they can possibly take. For whatever reason though the conservative base seems to just eat it up. But you have to ask is it really in your best interest to make sure Wal-Mart executives don't have to take a slight pay cut?

Last edited by suzzer99; 04-03-2014 at 06:08 PM..
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