Walmart Joins $1 Trillion Club (yahoo.com) 55
Walmart's market cap surpassed $1 trillion on Tuesday, putting the largest U.S. retail chain in an exclusive club dominated by tech groups. Bloomberg adds: The Bentonville, Arkansas-based chain -- a longtime favorite of bargain-hunting consumers -- has flexed its massive scale and supplier network to keep prices low and grab market share across the income spectrum. While Walmart has maintained its appeal to households looking for value, its online offerings are drawing new, wealthier shoppers seeking convenience.
Great for the workers (Score:5, Funny)
That kind of growth must be great for the workers in terms of salary, benefits, and quality of life.
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That kind of growth must be great for the workers in terms of salary, benefits, and quality of life.
At the very least, it should help employees meet the new work requirements in the "Big Beautiful Bill" to continue receiving their SNAP and Medicaid benefits.
Walmart and McDonald’s have the most workers on food stamps and Medicaid [senate.gov]
Walmart, McDonald's among largest employers of SNAP, Medicaid recipients [foxbusiness.com]
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You mean, to continue to have taxpayers subsidize Walmart and McDonalds business operations. What Walmart and McDonalds save in payroll, taxpayers provide. Just like you "pay the cops salary", you're paying those Walmart and mCdonalds employees as well.
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You mean, to continue to have taxpayers subsidize Walmart and McDonalds business operations. What Walmart and McDonalds save in payroll, taxpayers provide. Just like you "pay the cops salary", you're paying those Walmart and McDonalds employees as well.
Yup. This also creates a dilemma for workers as some small increase in earnings, raise or more hours, could disqualify them for those benefits, yet not be enough for them to afford things w/o them.
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At the very least, it should help employees meet the new work requirements in the "Big Beautiful Bill" to continue receiving their SNAP and Medicaid benefits.
For SNAP it's the old work requirements, ABAWD was created when Bill Clinton signed PRWORA in 1996. It's just been on a waiver in a lot of places because of covid or unemployment levels. But HR1 the big buttfucking bonanza changed the standard to apply for a waiver from 5% to 10% unemployment. This uses the U-2 rate which is an obviously deliberate lie which the democraps have been party to throughout the years as well, because everyone wants to brag about the allegedly low unemployment rate during their ad
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I'm sure that all the Amazon delivery contractors making $5 an hour over minimum wage feel the same way about their multi-billionaire corporate overlords. That's not just pee going into those empty water bottles under the driver's seat... it's pride!
Retirees (Score:2)
What about retirees whose investments are dependent on Walmart being efficient?
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Won't someone think of the shareholders? How will the Waltons ever get enough to eat?
Concentrating wealth reduces overall wealth. Your hypothetical retiree would benefit more from a healthy US economy than from a slight gain in a single stock.
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It's not just Walmart you apply these "omg they're making money" arguments to is it? 162 million Americans (62%) own shares, so I'm not sure how that's "concentrating wealth".
Re: Retirees (Score:2)
If you paid them just enough, they wouldn't qualify for those government subsidies but could still buy horrible insurance. If you paid them enough to afford decent insurance, Walmart would have to massively raise prices.
You cannot fix the problem you purport to exist at this point in society. You'd be more successful changing insurance, or more effectively, government policies.
* Reduce years of med school from 16 down to maybe 8 like other countries.
* Pay for all doctors to go, in exchange for massively red
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Oh wait you were serious?
A trillion (Score:3, Funny)
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I guess a trillion dollars is not what it used to be.
$US since Trump took office
So it's one hundred billion dollars less than it was when Trump took over...
Re: A trillion (Score:2)
Most of this is a spillover from the absurd "AI" bubble, which is now overflowing everywhere.
Remember Greenspan and his "quant easing" that brought about the 2007-8 crash?
That will be a minor blip compared to the "AI crash".
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"Remember Greenspan and his "quant easing" that brought about the 2007-8 crash?"
Nice blurb, but wrong. That recession had many parents.
1. Real estate developers becoming over leveraged.
2. Property owners buying houses just to flip them.
3. Lax Wall Street regulators (Bush and the R's decided they didn't need no stinkin' regulation).
4. Wall Street which "securitized" loans into packages and then used credit default swaps.
5. Local taxing jurisdictions which removed "impediments" so that any fool developer coul
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A trillion here, a trillion there, pretty soon you're talking about some *real* money!
Re: A trillion (Score:2)
The poor can house themselves in stacks of articles about American's trillion dollar companies
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Oh, I know, it's Walmart's fault that people want part-time jobs that don't pay $100K a year. And why would I say they "want" these jobs? Because they gobble them up. Some people want them for the less-than-full work week, such as retirees. Some people want them for extra income. Some people have various types of handicaps and want a job they can do despite those handicaps. Some people have no better options. But they all, for one reason or another, do agree to work part time at entry-level jobs that Walmar
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I guess a trillion dollars is not what it used to be.
Neither is nostalgia.
With Donflation and (Score:2)
his new inflatable Fed Reserve pal, I'll soon join the club. I'm investing in wheelbarrows.
Re: With Donflation and (Score:1)
Inflation is a flat tax on people who hoard money under their mattresses and in their bank accounts.
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Inflation is a flat tax on everyone, especially people who need to spend the majority of their paycheck to survive.
FTFY
Re: With Donflation and (Score:5, Funny)
Inflation is a flat tax on people who hoard money under their mattresses and in their bank accounts.
And I'm totally sure you posting this same argument during the inflation in Biden's term.
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Tariffs are an unforced error. Judging the timing of the pandemic requires a crystal ball. Most countries had it worse, Joe gets an A- if graded on a scale.
Do their employees still need food stamps to live? (Score:5, Informative)
Not much else needs to be said. A $1T company, yet a drain on the nation.
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Inflation is the drain on the nation. The reason for all of these 1 Trillion dollar companies is that there are all of these money created by the various governments and banks propped up by government entities, all of the bail outs, money printing, quantitative easing (money printing), etc., all of it is inflation, i.e. expansion of the money supply. Much of it is driven by the pathetically low interest rates, manipulated by the government over the last few decades (as the governments got off the gold), a
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There's no sense attempting to run modern economy on the gold standard. Economies are way to complex. Go back to the 1800s, they miss you.
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Re: Do their employees still need food stamps to l (Score:2)
The gold standard will force 99% of people to realize how poor they really are. Because the vast majority of us won't be buying fuck all on the gold standard.
WM isn't what it used to be... (Score:3, Insightful)
IMHO, I'm curious who is shopping from there. I know that I rather go anywhere else than WM, because stuff like underwear, headlight bulbs, even batteries are locked up, and good luck getting a store person to even bother walking over to help with that. Even when they do, it means the end of your shopping visit, as you have to follow them to the register. Mail order? Amazon.
I can see them getting a captive audience if they are the only grocery store in a town, but in cities with an ALDI, HEB (a Texas chain that doesn't suck), or other stores, people tend to go there.
I miss the days when they had some reason to stick around, be it a McDonald's their own store, or even a Subway. Now, without the secondary stores, it just sucks, and even Targets have a Pizza Hut and a mini Starbucks that I can get a drink at.
Wish things would change so that we had real department stores again. IMO, WM shopping is pure drudgery now.
walmart.com [Re:WM isn't what it used to be...] (Score:3)
IMHO, I'm curious who is shopping from there.
walmart.com has become somewhat of an alternative to amazon.com.
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"stuff like underwear, headlight bulbs, even batteries are locked up"
Do you think this was WalMart's choice?
Maybe we need to go back to, y'know, crazy concepts like punishing shoplifters?
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I stopped going to walmart because about 9/10 of the time they wouldn't have what I wanted and I'd leave empty handed.
I've looked at their website many times but only ever bought something there once. In their attempt to be like Amazon they have wound up taking on all the same AliExpress shit as Amazon. This makes me unlikely to shop there because what I wanted was an alternative to Amazon without the flurry of crap which I buy from AliExpress, because it's 10-50% cheaper there.
I conclude that the people wh
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You can check their website before you go to see if it's stock and what isle it's in. Super useful. Home Depot does it too. I'm sure Lowe's and others stores as well.
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Last time I went in there, their website claimed they had a car battery that they in fact did not have.
You can check their website before you go to see if it's stock and what isle it's in.
What good is their stock information if it is a lie? Try reading before replying.
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the people who shop at Walmart are predominantly either stupid, looking for typical mass market crap
Or it's the only store left within 50 miles, after it put the local shops out of business.
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They're the cheapest place for groceries around here, which is a major reason to shop there. Aldi is arguably as cheap, but has a much smaller selection, and their products are either very high quality or extremely low quality, meaning you often have to go shop elsewhere if you want something decent. (My spouse and I have a whole "Start at Aldi, next Walmart, finally Publix" shopping system going on just to get decent quality stuff without going bankrupt.)
They also have a Walmart+ service that does free del
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"because stuff like underwear, headlight bulbs, even batteries are locked up,"
Not the case here. Town has largely devolved though. It has a Walmart, a grocery store, a hardware store, three auto parts stores, two feed stores, a collection of Mexican restaurants, and an upscale burger joint.
The only other place to get clothes is about 30 miles away. Costco and Target are 70 miles in the other direction.
There are rumors of a Best Buy 120 miles away but I've never been there.
Market Capitalization (Score:2)
Market capitalization(Market Cap) is a nebulous index number and not a real value. Market cap is used by stock traders as a quick indicator, a cheat code, to estimate the value of a corporation. I s determined by multiplying the current share price by the number of outstanding shares(shares in the market).
The problem is that the share price is a completely arbitrary value. There are billion dollar market cap companies that have no sales/revenue whatsoever.
Crypto currency is a fantastic illustrator of how me