Walmart vs Costco
Walmart chose a model of cheap prices, low wages, exploitation of workers, and decimation of small businesses within the communities they entered. Moreover, they exploited the American taxpayers as taxpayers are responsible for supporting their employees through food stamps and income credits. Costco chose another model. Guess which company turns out to be more profitable and fiscally responsible?
Randa Morris’ in your face article “Free Market Laughs In Lying GOP’s Face: Greedy Walmart Heirs Lose $41B, Costco Profits Soar” is an excellent read and provides a perspective and exasperated tone one likely would not find in the New York Times. But she hits a home run for the masses.
Read the piece here. And please share it. She said the following.
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.
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.
We cannot continue to have our brothers and sisters buy into the fallacies.