Comments on: Citi Analyst Who Downgraded Walmart Stock on Anti-Employee Free Choice Call with US Chamber of Commerce http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/ Firedoglake weblog Sat, 18 Feb 2012 08:28:03 -0600 hourly 1 http://wordpress.org/?v=3.1.2 By: robspierre http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854542 robspierre Thu, 12 Mar 2009 23:58:42 +0000 http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854542 <p>I wonder how much of this Citibank woman’s analysis is pre-scapegoating for the real WalMart troubles still to come. </p> <p>The WalMart business model depends on China. WalMart drives local competition out of business with prices kept low by China’s quasi-slave labor and then drives the prices back up as far as they can to maximize profit. Without the cheap and compliant labor that the fiercely antiunion Chinese “Communist” government guarantees, WalMart is just a bloated, inefficient, and decidedly unattractive general store.</p> <p>Multiple current and emergent crises make China a very doubtful proposition these days. I wonder if that is what this so-called analyst is really nervous about. China has unprecedented ecological disasters underway, an energy crisis, and, if Western production falls even a little, a food crisis. Their population is increasingly restive and resentful of corruption, confiscation of land, and unequal distribution of wealth. The hope of some upward mobility through factory work has been holding this in check. But as savings vanish, demand for Chinese goods flags, and layoffs begin, the balance is sure to be upset. Protests and even riots are already common enough to be reported in the West.</p> <p>I wonder how often this so-called analyst has hyped the business climate in China in the past? When China blows up in her clients’ faces, perhaps she’d prefer that the union bogeyman take the blame, rather than 20-30 years of Wall Street wisdom?</p> I wonder how much of this Citibank woman’s analysis is pre-scapegoating for the real WalMart troubles still to come.

The WalMart business model depends on China. WalMart drives local competition out of business with prices kept low by China’s quasi-slave labor and then drives the prices back up as far as they can to maximize profit. Without the cheap and compliant labor that the fiercely antiunion Chinese “Communist” government guarantees, WalMart is just a bloated, inefficient, and decidedly unattractive general store.

Multiple current and emergent crises make China a very doubtful proposition these days. I wonder if that is what this so-called analyst is really nervous about. China has unprecedented ecological disasters underway, an energy crisis, and, if Western production falls even a little, a food crisis. Their population is increasingly restive and resentful of corruption, confiscation of land, and unequal distribution of wealth. The hope of some upward mobility through factory work has been holding this in check. But as savings vanish, demand for Chinese goods flags, and layoffs begin, the balance is sure to be upset. Protests and even riots are already common enough to be reported in the West.

I wonder how often this so-called analyst has hyped the business climate in China in the past? When China blows up in her clients’ faces, perhaps she’d prefer that the union bogeyman take the blame, rather than 20-30 years of Wall Street wisdom?

]]> By: earlofhuntingdon http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854328 earlofhuntingdon Thu, 12 Mar 2009 21:17:02 +0000 http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854328 <p>The issue with Wal-Mart is not just price; it’s how they get those prices and from where. Things like labor practices, child labor, “cooperative” agreements with foreign governments not generally regarded as having minimal labor protections, abuse of suppliers, and so on.</p> The issue with Wal-Mart is not just price; it’s how they get those prices and from where. Things like labor practices, child labor, “cooperative” agreements with foreign governments not generally regarded as having minimal labor protections, abuse of suppliers, and so on.

]]> By: ThingsComeUndone http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854224 ThingsComeUndone Thu, 12 Mar 2009 17:59:35 +0000 http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854224 <p>I used to buy food at Sam’s the occasional bit of clothes.</p> I used to buy food at Sam’s the occasional bit of clothes.

]]> By: twolf1 http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854215 twolf1 Thu, 12 Mar 2009 17:48:05 +0000 http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854215 <p><a href="http://firedoglake.com/2009/03/12/tony-perkins-issues-fatwa-against-michael-steele/" rel="nofollow">BT way upstairs</a> with Michael Steele…</p> BT way upstairs with Michael Steele…

]]> By: oldtree http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854214 oldtree Thu, 12 Mar 2009 17:47:56 +0000 http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854214 <p>I have to disagree with one commenter. The current state of the MSM is far worse than it was under the lunatic. The statements made are more ridiculous, the people making them are more vapid, and that is what we get. There will never be any real truth to it. Even Keith and Rachel’s shows are paid for by corporate crime.<br /> I will not participate in that kind of bullshit ever again. We enable these crooks, so it’s time to end our sponsorship. MSNBC is owned by the weapons maker of the world, the nuclear waste dumper, the ocean’s greatest enemy. They have an ex baseball reporter and a new gal that came up the hard way as their representatives to the “hard core left wing” How stupid are we? This is a money making deal, and nothing else.<br /> We should re-examine our priorities a bit more often perhaps?</p> I have to disagree with one commenter. The current state of the MSM is far worse than it was under the lunatic. The statements made are more ridiculous, the people making them are more vapid, and that is what we get. There will never be any real truth to it. Even Keith and Rachel’s shows are paid for by corporate crime.
I will not participate in that kind of bullshit ever again. We enable these crooks, so it’s time to end our sponsorship. MSNBC is owned by the weapons maker of the world, the nuclear waste dumper, the ocean’s greatest enemy. They have an ex baseball reporter and a new gal that came up the hard way as their representatives to the “hard core left wing” How stupid are we? This is a money making deal, and nothing else.
We should re-examine our priorities a bit more often perhaps?

]]> By: rwcole http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854213 rwcole Thu, 12 Mar 2009 17:44:13 +0000 http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854213 <p>Same place everyone else gets Pedigree Dog Food.</p> Same place everyone else gets Pedigree Dog Food.

]]> By: rwcole http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854212 rwcole Thu, 12 Mar 2009 17:43:21 +0000 http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854212 <p>I shop at Wal Mart. I actually find their quality pretty good. They, for example, know how to buy inexpensive electronic gear- wheras their competitors at Target do not. I bought two things at Target that promptly broke- I have never had that experience with the stuff I bought at Wal Mart including lawnmowers, television sets, sporting goods, etc. </p> <p>Much of their stuff is brand name- same as you’d get anywhere else for a sizable discount.</p> I shop at Wal Mart. I actually find their quality pretty good. They, for example, know how to buy inexpensive electronic gear- wheras their competitors at Target do not. I bought two things at Target that promptly broke- I have never had that experience with the stuff I bought at Wal Mart including lawnmowers, television sets, sporting goods, etc.

Much of their stuff is brand name- same as you’d get anywhere else for a sizable discount.

]]> By: ThingsComeUndone http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854210 ThingsComeUndone Thu, 12 Mar 2009 17:42:41 +0000 http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854210 <p>Where do they get their dog food from Wallmart has lots of Chinese contractors and Chinese pet food is suspect.</p> Where do they get their dog food from Wallmart has lots of Chinese contractors and Chinese pet food is suspect.

]]> By: ThingsComeUndone http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854207 ThingsComeUndone Thu, 12 Mar 2009 17:38:49 +0000 http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854207 <blockquote><p> People hate Wal Mart because it’s big and exploitive. If you could bring Wal Mart to heel (fat chance), there’d be a domino effect on the others. </p></blockquote> <p> By something there its cheap not the good kind of cheap the kind that breaks down, gets you sick etc.<br /> When people get higher pay they stop shopping at Wallmart. Its the market in action Wallmart sales are up now because of the bad economy.</p>

People hate Wal Mart because it’s big and exploitive. If you could bring Wal Mart to heel (fat chance), there’d be a domino effect on the others.

By something there its cheap not the good kind of cheap the kind that breaks down, gets you sick etc.
When people get higher pay they stop shopping at Wallmart. Its the market in action Wallmart sales are up now because of the bad economy.

]]> By: ThingsComeUndone http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854205 ThingsComeUndone Thu, 12 Mar 2009 17:33:21 +0000 http://firedoglake.com/2009/03/12/citi-analyst-who-downgraded-walmart-stock-on-anti-employee-free-choice-call-with-us-chamber-of-commerce/#comment-1854205 <blockquote><p> I have entered a Wall-Mart only once (iirc), and that was with a friend who wanted to buy something there. I did not buy anything. </p></blockquote> <p> Try the fresh produce at Sam’s Club Wallmart’s sister store in the winter the crowds of fruit flies are worst than out door markets in Mexico where at least the fruit is fresh.</p>

I have entered a Wall-Mart only once (iirc), and that was with a friend who wanted to buy something there. I did not buy anything.

Try the fresh produce at Sam’s Club Wallmart’s sister store in the winter the crowds of fruit flies are worst than out door markets in Mexico where at least the fruit is fresh.

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