March 10, 2013
Re "Health sign-up plan is assailed," Business, March 7 Goal: to reach the most people possible, where they are and are more likely to accept needed services. In this case, the effort is to enroll people in President Obama's healthcare expansion. Vehicle: Wal-Mart Stores Inc., the world's largest retailer, which specializes in selling low-priced goods. Genius. To the unions in California objecting to this on the grounds that Wal-Mart provides inadequate benefits: Really? In this day and age of accepting the differences of others, the unions refuse to do so, even at the cost of the public's well-being.
February 21, 2013 |
Wal-Mart Stores Inc. beat expectations for its most recent fiscal quarter, but the world's largest retailer is now warning that higher payroll taxes, income tax refund delays and lofty gas prices will cause stagnant sales during the current quarter. For the mega-chain's fourth quarter, which ended Jan. 31, profit boomed 10.6% to $1.67 per share from $1.51 per share during the same quarter a year earlier. The gauge outperformed Wal-Mart's forecast of up to $1.58 per share. Executives attributed the surge to a lower-than-expected effective tax rate of 27.7%.
January 28, 2013 |
SACRAMENTO -- State labor regulators have ordered a Chino warehouse operator to pay more than $1 million in overtime plus $200,000 in penalties for hundreds of state labor law violations. State Labor Commissioner Julie Su issued citations Monday to Quetico, a warehouse and distribution company that handles shoes, apparel and electronic goods for Wal-Mart Stores Inc. and other big-box retailers. The commissioner's investigation of two Quetico facilities, totaling a half-million square feet, found that the company created restrictive procedures which shorted 865 workers of their wages.
December 14, 2012 |
Wal-Mart Stores Inc., Ralph's owner Kroger Co. and Sara Lee parent Grupo Bimbo are all said to be in the running to buy up assets from liquidating Twinkies maker Hostess, according to a report this week. The companies, along with Midwest baked products distributor Alpha Baking Co., are bidding to pick up all or parts of Hostess, according to Bloomberg News . The report cites an anonymous source familiar with negotiations. “There are rumors about Wal-Mart all the time and we just don't comment on them,” said Wal-Mart spokesman Randy Hargrove in an email.
December 8, 2012 |
After the Bangladesh factory fire that killed more than 100 workers in November, retail giant Wal-Mart Stores Inc. fired a supplier making clothes at the facility. Now that supplier has come forward to say it wasn't aware its clothes were stitched there, reports say. Success Apparel said in a statement to Bloomberg that it placed an order with Simco, a Wal-Mart-approved supplier, to fulfill orders. Simco then doled out about 7% of the order to Tuba Group, owner of the now infamous Tazreen Design factory in Bangladesh, according to Success.
November 30, 2012 |
A Bangladesh garment factory fire that killed 112 people has pushed Secretary of Labor Hilda Solis to call for an investigation into the tragic incident. The fire, which started late Saturday night, swept through a facility outside the city of Dhaka that apparently churned out clothes for many major retailers in the United States, including Wal-Mart Stores Inc. and Sears, the Associated Press reported. In a statement issued Thursday, Solis compared the fire, the worst industrial blaze in Bangladesh history, to the fire in 1911 at the Triangle Shirtwaist Factory in New York that killed nearly 150 workers.