November 25, 2012

Fun Facts about Walmart

From The Walmart 1%

  • Walmart workers average just $8.81 hour. This translates to annual pay of $15,576, based upon Walmart’s full-time status of 34 hours per week.   This is less than 70% of the poverty line for a family of four.
  • Walmart store openings destroy almost three local jobs for every two they create by reducing retail employment by an average of 2.7 percent in every county they enter.
  • Walmart pays less than other retail firms.  A 2005 study found that Walmart workers earn an estimated 12.4% less than retail workers as a whole, and 14.5% less than workers in large retail in general.  A 2007 study which compared Wal-mart to other general merchandising employers found a wage gap of 17.4%.
  • Walmart cost America an estimated 196,000 jobs – mainly manufacturing jobs – between 2001 and 2006 as a result of the company’s imports from China.
  • Last year, Walmart slashed already meager health benefits, leaving more workers uninsured.
  • Despite all the damage they have done to US workers and communities, a 2007 study found that, as of that date, Walmart had received more than $1.2 billion in tax breaks, free land, infrastructure assistance, low-cost financing and outright grants from state and local governments around the country.   This number has surely increased as Walmart continues to receive additional subsidies.
  • In many states across the country, Walmart is the employer with the largest number of employees and dependents using taxpayer-funded health insurance programs.

1 comment:

BARBBF said...

Sweet column: Michelle Obama quits board of Wal-Mart supplier.
By Lynn Sweet on May 22, 2007 8:44 PM | 16 Comments

WASHINGTON — Michelle Obama resigned Tuesday from the board of TreeHouse Foods Inc., a Wal-Mart vendor, eight days after husband and White House hopeful Sen. Barack Obama (D-Ill.) said he would not shop at the anti-union store.

Obama has been a director of the suburban Westchester food maker since June 27, 2005. Board chairman Sam Reed received a resignation letter from Obama Tuesday. The company said she quit because of “increased demands” on her time. Obama was re-elected to the board April 19 for a term ending in 2010 — during a period she was preparing to take on a larger role in the campaign.

In a statement issued by the campaign, Obama said, “As my campaign commitments continue to ramp up, it is becoming more difficult for me to provide the type of focus I would like on my professional responsibilities." She said it was in “the best interests of my family and the company” she quit.

Wal-Mart is a target of organized labor in the U.S., a Democratic constituency playing a key role in determining the 2008 Democratic nominee. Obama’s link to Wal-Mart through TreeHouse was a potential liability for Sen. Obama. On May 14, during an AFL-CIO forum in Trenton, N.J., Sen. Obama was asked about Wal-Mart. “I won’t shop there,” he said. Chief rival Sen. Hillary Rodham Clinton (D-N.Y.) served on the Wal-Mart board between 1986 and 1992.

In a SEC filing, TreeHouse stated Obama’s resignation “is not due to any disagreement with the company on any matter.’’

According to the Obamas’ income tax returns, Michelle Obama collected $51,200 from TreeHouse in 2006. She leaves the board with an option to buy 2,266 TreeHouse shares at a strike price of $29.65. Shares closed at $28.10 Tuesday.

Obama’s resignation from the lucrative part-time position comes as she cutback her hours as a University of Chicago Hospitals vice president by 80 percent.

To showcase Obama’s role as chief surrogate for her husband, the campaign has orchestrated a high-profile media blitz in recent weeks.