Tuesday, August 14, 2007
Running out of Money=Profit Loss
Wal-Mart, the retailer known for its low prices has seen business falter over the past few months and the company is blaming a dwindling economy. Wal-Mart CEO, Lee Scott, announced
today he is lowering the company's earnings expectations for the year and said during a conference call, "It is no secret that many customers are running out of money toward the end of the month."
**It's as if Wal-Mart didn't have anything to do with the present economic conditions of the country. Wal-Mart is the 3 or 5 (depending on which study you are using) largest importer of goods from China. Adding to the $200 billion debt of this country.
**Not to mention how many local business's have closed, unable to lower prices to compete.
check out the PBS special "Is Wal-Mart Good for America?"
http://www.pbs.org/wgbh/pages/frontline/shows/walmart/
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