http://www.addictinginfo.org/2015/10/15/free-market-laughs-in-lying-gops-face-greedy-walmart-heirs-lose-41b-costco-profits-soar/
On October 15, the value of Walmart stock plummeted to a 30-year low. In a single day, the Walton heirs lost more than $11 billion. The huge loss came on the heels of the company’s annual shareholder report, which revealed that instead of the one to two percent profit increase Walmart promised its shareholders, the company is projecting losses as high as 12 percent.
While the greedy Walmart heirs will never be broke (you can bet they will transfer their personal losses to the public long before that happens) before this year is over they will have lost more than $41 billion.
The lying republicans keep telling us that corporations have to exploit their workers in order to succeed. But Walmart, which has earned its reputation as one of the most exploitative corporations in the world, is losing huge sums of money on a global scale.
This, in spite of the fact that the company has driven thousands of American manufacturers overseas, forcing them to produce goods supplied to the retail giant in undeveloped countries, where workers are paid just pennies an hour. The company is losing huge sums of money in spite of the fact that they are known for cheating workers out of their hard-earned pay, denying benefits to employees, and forcing taxpayers to subsidize their disgustingly low wages.
At last count, American taxpayers were subsidizing Walmart wages to the tune of $6.2 billion per year. Every single Walmart store in the country costs taxpayers somewhere between $904,542 and $1.75 million per year. On average, Walmart employees need between $3,015 and $5,815 of taxpayer assistance each, per year, just to survive.
Republicans call Walmart’s greedy, exploitative business model “good business sense.” According to their bullshit economic theories, Walmart should be rolling in the cash. Instead Walmart is gushing money faster than a sieve gushes sand.
On the other hand, according to republican economics, a company like Costco should be losing money hand over fist. But that’s not happening either.
Costco pays employees an average of $21 an hour plus benefits. That’s a far cry above Walmart’s average wage of $8.81 an hour and zero benefits. Yet Costco’s profits are up 29 percent this year, and the company continues to experience substantial growth. The company’s 2015 growth has blown analysts’ predictions out of the water.
Aside from the fact that Costco isn’t exploiting its workforce in order to make a few people rich, there are several key differences between Costco and Walmart. For example, the CEO of Costco makes a reasonable salary, with a total compensation package worth just over $5 million. In comparison, Walmart’s CEO took home $25.6 million in 2014. In January of the same year, the company’s former CEO, Mike Duke, walked away with $140 million in deferred pay as part of a severance package.
That was nothing compared to the $3.1 billion that the three Walton heirs took home in 2014; all while crying about how the company cannot afford to pay their workforce a fair wage.
the only thing that will bring them down is if they all dropped dead no inheritances left. we the people will keep them afloat we don't make enough and some feel forced to shop where the price is lowest regardless to how the workers are treated they actually ask other employees to kick in a few bucks so lower waged employees can have a something to eat they should bomb the Walton compound before Syria it's more reprehensible.
