Walmart:11-21-06 Wal-Mart slashes food prices in half ahead of Thanksgiving

[wetech]

Originally posted by: catnap1972

Originally posted by: jEnus
There's a difference between profit decline and profit loss. Read your own story, preferably the title before making another post citing an article.

I'm not sure if you realize it, but WM considers profit projection figures as what they're entitled to and any deviation to the downside of that projection they consider a "loss".

Where did you get this info from?


On a related note the drop in earnings was due to the sale of it's German unit. Profit from continuing operations was up 5% from last year.

 

[TheSlamma]

So what, Wal-mart will only make a few billion in profit this year while their part time employee's still live partially off Welfare... go team.

 

[5150Joker]

Originally posted by: Crimson

Originally posted by: Zebo<BR>Union is the only way to fly if you work for someone else.... Alone, workers don't have sh1t unless they have exceptional or irreplacable skills...or work the government of course, which takes a serious felony conviction to get fired. Or three.

<BR><BR>Hmm.. I work for someone else, and honestly, I think I am earning a pretty damn good living. I think what you meant to say is Unions are the way to go for the lazy and worthless workers.

QFT, Zebo must be one of those workers that keeps his job thanks to a union.

 

[trenchfoot]

Originally posted by: 5150Joker

Originally posted by: Crimson

Originally posted by: Zebo<BR>Union is the only way to fly if you work for someone else.... Alone, workers don't have sh1t unless they have exceptional or irreplacable skills...or work the government of course, which takes a serious felony conviction to get fired. Or three.

<BR><BR>Hmm.. I work for someone else, and honestly, I think I am earning a pretty damn good living. I think what you meant to say is Unions are the way to go for the lazy and worthless workers.

QFT, Zebo must be one of those workers that keeps his job thanks to a union.

there are just as many if not more lazy, worthless workers outside of unions as there are are in them.

if you are middle class, you can thank the unions for being a major reason why this class of citizen exists.

if you are poor and cannot rely on nepotism, favoritism, kiss-a$$ism, sexism, treachery, bribery and extortion to get you job securityand a living wage then being hired to a union shop may be the only way up.

if you have skills that are in high demand, then good for you. sell yourself to the highest bidder. however, the highest bidder may just as well be a unionized shop.

i can go on and on with more of same, but to be courteously brief, i must reiterate a couple of points that i and others have mentioned here on these boards in various ways that are always casually ignored by those who support walmart's policies and other employers like them:

1. workers do not create unions; bad employers who intend to grievously exploit them do.
2. if unions were not necessary, they would not exist.

as an aside, just let me say that i was a production manager for a plastics injection molding plant and as part of a management team from that company, we successfully resisted two attempts by unions to organize our shop. presently, through a company i now work for, i am on the other side of the bargaining table as a business agent for one of the largest unions in the state of hawaii.

 

[dmcowen674]

8-28-2006 Walmart and Internet Blamed for Demise of Tower Records

Wal-Mart probably hurt Tower by slashing prices on music CDs, using this as a "loss leader" to get customers in stores, said Card.

At the same time, Apple has dominated the online music business with a price per song of 99 cents, of which 70 cents goes to record labels, said Leigh. Even though this generates little profit, Apple uses this to promote sales of its iPod music players.

 

[piasabird]

Why are all Corporations that are considered evil to be Republican?

What about John Kerry's Wife? She is just as much an evil Corporate executive. Does that make her an Evil Republican, or is she an evil Democrat Corporate Whore. So since Kerry is married to and enjoys the funds from here evil corporation, does that make Kerry an evil Republican Corporate Whore as well?

 

[GoPackGo]

Originally posted by: piasabird
Why are all Corporations that are considered evil to be Republican?

What about John Kerry's Wife? She is just as much an evil Corporate executive. Does that make her an Evil Republican, or is she an evil Democrat Corporate Whore. So since Kerry is married to and enjoys the funds from here evil corporation, does that make Kerry an evil Republican Corporate Whore as well?

Yes, but he doesn't like himself very much.

 

[chowderhead]

Originally posted by: dmcowen674
8-28-2006 Walmart and Internet Blamed for Demise of Tower Records

Wal-Mart probably hurt Tower by slashing prices on music CDs, using this as a "loss leader" to get customers in stores, said Card.

At the same time, Apple has dominated the online music business with a price per song of 99 cents, of which 70 cents goes to record labels, said Leigh. Even though this generates little profit, Apple uses this to promote sales of its iPod music players.

Tower Records, Warehouse Records, SunCoast Music, (and Borders) etc are/were dinosaurs. They cannot compete where the dynamics of the consumers have changed. These stand alones companies (excluding Borders) sell only music. Many people now go to Best Buy, Target, Walmart to pick up mutiple things from electronics to cds to general merchandise.
Tower Records charged full MSRP for most of their music when Walmart could undercut them because they only stock the popular music and buy in large bulk. People who want obscure stuff or wider selection can buy online. It's just the same technique that Walmart uses to win in other categories but since Tower charged full price and really didn't offer much in customer service ... I am not sad to see them go.

 

[Red Dawn]

Originally posted by: dmcowen674
8-28-2006 Walmart and Internet Blamed for Demise of Tower Records

.

I would have thought it was the overpriced CD's and the rude greenhaired assholes they employ that look down their noses at people who buy music they don't approve of that would have done them in.

 

[TheSlamma]

Originally posted by: Red Dawn

Originally posted by: dmcowen674
8-28-2006 Walmart and Internet Blamed for Demise of Tower Records

.

I would have thought it was the overpriced CD's and the rude greenhaired assholes they employ that look down their noses at people who buy music they don't approve of that would have done them in.

C'mon paying $18.99 for a CD with 2 good tracks a Bawwwwgain

 

[DealMonkey]

Originally posted by: TheSlamma

Originally posted by: Red Dawn

Originally posted by: dmcowen674
8-28-2006 Walmart and Internet Blamed for Demise of Tower Records

.

I would have thought it was the overpriced CD's and the rude greenhaired assholes they employ that look down their noses at people who buy music they don't approve of that would have done them in.

C'mon paying $18.99 for a CD with 2 good tracks a Bawwwwgain

I agree, but have you seen a Wal-Mart music section? I was pretty much forced to go in there with a relative not too long ago. Their music selection was pretty much: country and total pop crap. I don't know if this particular Crap*Mart was suckier than the norm, or not, but they had nowhere near the selection that Tower did.

Bah, I say good riddance to homogonized corporate record stores anyway. I'd much rather visit a cool local store run by people who live for music.

 

[Zorba]

Well, I pretty mcuh only ever buy CDs at best buy, so blaim them too. BTW: BB always has better prices and selection than Wally. BB is usually cheaper than online stores too.

 

[Cerb]

Originally posted by: dmcowen674
8-28-2006 Walmart and Internet Blamed for Demise of Tower Records

Wal-Mart probably hurt Tower by slashing prices on music CDs, using this as a "loss leader" to get customers in stores, said Card.

At the same time, Apple has dominated the online music business with a price per song of 99 cents, of which 70 cents goes to record labels, said Leigh. Even though this generates little profit, Apple uses this to promote sales of its iPod music players.

Maybe Tower sucking had something to do with it? I've never browsed Walmart's CD selection--I know they carry censored versions, and it's so small I probably couldn't find anything I want anyway. Then I also dislike the idea of DLing DRMed lossy copies.

However, Tower's prices going up and selection going down is not how to compete. When you've got about the same selection of pop as Best Buy (FI, having no more than 7 unique Pink Floyd titles on hand), and you're a dedicated record/movie store, you're doing something wrong. Tower's boon has been putting good stuff in the bargain bins, and having a wide selection of used stuff (some people have no taste, but it makes it cheaper for me!). TBH, I was actually impressed at BB's selection, last time I was there. My local one actually had some decent country and a good selection of Zappa, though most was at full MSRP.

Their demise is as much to blame on Walmart as the RIAA's lack of insane continued growth is due to internet piracy.

 

[babylon5]

Walmart's music section is extremely limited to just a few musicians. I never bought CD from Walmart. I bought from Targets mostly. I try not to buy from Worst Buy.

Tower's Magazine section is pretty good, and their collectible Toy section is decent price. Lots of CD selection, price not always cheap.

Really hate to see Tower disappear...when only Walmart and some other big chain left standing, they can jack up price if they want to.

 

[Thump553]

Eleven pages of comments until someone - Cerb - finally hit on the real issue (two posts above). Tower Records died because they deserved to-prices too high, selection stunk (for a speciality store). Tower Records managed to get everything wrong in their chain store model, and nothing right. Good riddance.

There is a huge difference between Tower Records and a local independent music store (most of which are long gone, killed by the Towers of this world). Saying Walmart killed Tower Records would be like saying McDonalds killed Burger King-who cares outside of the stockholders and employees?

PS-I do not buy any CDs at Walmart because of their censorship stand. Retailers understand voting with your wallet best. These days, its either the (last) local independent store, Amazon or lala.com (CD trading site) for me-and I buy a lot of CDs.

 

[Pabster]

Originally posted by: Thump553
Eleven pages of comments until someone - Cerb - finally hit on the real issue (two posts above). Tower Records died because they deserved to-prices too high, selection stunk (for a speciality store). Tower Records managed to get everything wrong in their chain store model, and nothing right. Good riddance.

There is a huge difference between Tower Records and a local independent music store (most of which are long gone, killed by the Towers of this world). Saying Walmart killed Tower Records would be like saying McDonalds killed Burger King-who cares outside of the stockholders and employees?

PS-I do not buy any CDs at Walmart because of their censorship stand. Retailers understand voting with your wallet best. These days, its either the (last) local independent store, Amazon or lala.com (CD trading site) for me-and I buy a lot of CDs.

:thumbsup:

At any rate, I'm surprised Dave is crying over the death of Tower Records. They weren't exactly a mom and pop CD store and I'm sure they've got some nasty Republicans working on their BOD and elsewhere

 

[Genx87]

Good to see many people agree with me on this issue that Tower records died because Tower records didnt provide a product at the price and satisfaction level the consumer desired.

I walk into a Best Buy and see CD's on sale for 13.99 when 10 years ago they were 16.99. This means in a time of inflation we have seen a large drop in the price of the product. The majority consumer wins in this scenario everytime. If people feel the need to pay more for the same product they are free to invest and build a store around that, but dont be surprised when it fails.

 

[JEDI]

CNN

"Chicago mayor vetoes big-box wage increase.

Mayor Richard Daley says 'living wage' ordinance would drive retailers like Wal-Mart and Target out of the area, hurt jobs."

But it looks like the mayor will likely get overridden:

"Daley's veto can still be overridden when the City Council meets on Wednesday. It would require a total of 34 votes in support of the ordinance. "

THe city council passed the law 35 to 14

 

[judasmachine]

screw tower records, and wal-mart. why can't they both go under...

 

[Triumph]

Originally posted by: dmcowen674
8-28-2006 Walmart and Internet Blamed for Demise of Tower Records

Wal-Mart probably hurt Tower by slashing prices on music CDs, using this as a "loss leader" to get customers in stores, said Card.

At the same time, Apple has dominated the online music business with a price per song of 99 cents, of which 70 cents goes to record labels, said Leigh. Even though this generates little profit, Apple uses this to promote sales of its iPod music players.

Good, F tower. $18.99 for a CD from a band that only I would listen to? They did it to themselves.

 

[dmcowen674]

Now the Company turns it's back on the very same low income people that propelled it to the giant it has become.

I typically would start my Christmas shopping in October and use layaway and pick up the items about 2 weeks before christmas.

9-13-2006 Wal-Mart scraps tradition, ends layaways

Wal-Mart Stores Inc. will end layaway service this year due to falling demand and rising costs, scrapping a tradition started when Sam Walton founded the chain in 1962 catering to cash-strapped rural shoppers in northwest Arkansas.

Wal-Mart said Thursday it will stop accepting layway items Nov. 19 with a pickup deadline of mid-December.

In its layaway program, customers make a down payment to hold an item and then generally had up to 60 days to pay it off, with a shorter deadline in the peak Christmas season.

Layway is used mainly by people at the lowest end of the income scale, who don't have credit cards and may not qualify for credit, analysts say.

Wal-Mart said it is working on ways to make other payment methods available to shoppers with limited credit, such as Wal-Mart-specific cards that offer zero interest for the first 6 to 12 months.

Getting some of those shoppers to take in-house credit cards can also mean more money for the chain in the form of card fees.

 

[JEDI]

Originally posted by: JEDI
CNN

"Chicago mayor vetoes big-box wage increase.

Mayor Richard Daley says 'living wage' ordinance would drive retailers like Wal-Mart and Target out of the area, hurt jobs."

But it looks like the mayor will likely get overridden:

"Daley's veto can still be overridden when the City Council meets on Wednesday. It would require a total of 34 votes in support of the ordinance. "

THe city council passed the law 35 to 14

WTF?! Heard on the radio that The city council failed to override the mayor's veto?! WTF?!

if it originally passed 35 to 14, and only need 34 votes to override the veto, then WTF?!

oh well, no living wage for big box employees in Chicago. I was hoping to see this social experiment ...

 

[dmcowen674]

Originally posted by: JEDI

Originally posted by: JEDI
CNN

"Chicago mayor vetoes big-box wage increase.

Mayor Richard Daley says 'living wage' ordinance would drive retailers like Wal-Mart and Target out of the area, hurt jobs."

But it looks like the mayor will likely get overridden:

"Daley's veto can still be overridden when the City Council meets on Wednesday. It would require a total of 34 votes in support of the ordinance. "

THe city council passed the law 35 to 14

WTF?! Heard on the radio that The city council failed to override the mayor's veto?! WTF?!

if it originally passed 35 to 14, and only need 34 votes to override the veto, then WTF?!

oh well, no living wage for big box employees in Chicago. I was hoping to see this social experiment ...

Thanks for the update. It was expected they would override.

It was a Political experiment not a Social one but thanks for playing.

 

[JEDI]

social in that i wanted to see how everything (people, big box, city, small box paying more for workers, etc) fared a couple of years after the living wage was inplemented.

 

[Genx87]

Originally posted by: JEDI
social in that i wanted to see how everything (people, big box, city, small box paying more for workers, etc) fared a couple of years after the living wage was inplemented.

Either Walmart and Target bolt or the costs of the product would rise and thus put the crunch on the primary clients of these retailers, the middle and poor classes.