1. #316
    newguy
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    Anyone here willing to admit they make min wage or employs those who do? I think the argument has been made pretty well that most of those making min wage are high school and college kids working summer / evening jobs but anyone here that can dispute that w/ facts?? I'm open to better understanding situation. I think if it's mostly large corporations paying the min you are effectively re-distributing their profits. I worked for mom and pop store in hs. My guess is they couldn't afford to pay more than the $4.25 I was making. They would just cut hours but may be wrong.

    Would love to hear from true owners. Will the extra $24/day per 8 hour shift change the way you manage your people?? Be honest.
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  2. #317
    muldoon
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    In the boomtown of Williston ND., the McDonalds pays $15/hr and Walmart $17/hr.
    http://www.city-data.com/forum/attachments/williston/111888d1369007074-walmart-still-paying-17-per-hour-009.jpg

    Yet the prices in the McDonalds & Walmart are comparable to the McDonalds/Walmarts in other parts of the country where the pay is closer to half of
    Williston.

    How is it that these 2 bastions of normally low (or close to minimum) wage, are able to pay these wages, yet stay open?

    Is the importance of having the flag planted in
    Williston ND really worth losing money, month after month?

    Or are both these places still somehow profitable, even with these wages that we're told would shutter the business (or double/triple prices) elsewhere?
    Last edited by muldoon; 02-18-14 at 01:26 PM.

  3. #318
    DwightShrute
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    ....
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  4. #319
    itchypickle
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    Quote Originally Posted by muldoon View Post
    In the boomtown of Williston ND., the McDonalds pays $15/hr and Walmart $17/hr.
    http://www.city-data.com/forum/attachments/williston/111888d1369007074-walmart-still-paying-17-per-hour-009.jpg

    Yet the prices in the McDonalds & Walmart are comparable to the McDonalds/Walmarts in other parts of the country where the pay is closer to half of
    Williston.

    How is it that these 2 bastions of normally low (or close to minimum) wage, are able to pay these wages, yet stay open?

    Is the importance of having the flag planted in
    Williston ND really worth losing money, month after month?

    Or are both these places still somehow profitable, even with these wages that we're told would shutter the business (or double/triple prices) elsewhere?
    You've obviously never been to that hellhole in rush time or winter When you're the only one for miles, and there is a constant demand plus can't find enough people to work there....it pans out.

    Most rural and podunk areas have 4 wal marts for every 50 mile radius and several fast food franchises....ND is remote. Instead of having 4 stores running paying workers $8/hr there is one location handling the load so paying $17 hr to start....allocation

    I remember sitting in line for 2.5 hours at 9pm on a weeknight to get through last year. The place is nuts.

  5. #320
    muldoon
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    Quote Originally Posted by itchypickle View Post
    You've obviously never been to that hellhole in rush time or winter When you're the only one for miles, and there is a constant demand plus can't find enough people to work there....it pans out.

    I actually happen to have a bit of proprietary information on the McDonalds franchise sales in that exact location versus a few others in San Diego, Las Vegas and one in Yuma Az.

    You make it sound like the one in Williston is so damn busy that they can somehow pay these double wages - yet they do less in yearly sales than the 3 above.

    I appreciate it's harder to get people to do the jobs there, but my point remains the same.

    I can't speak for the walmart sales, but I can speak regarding the McDonalds sales. They are not selling 2x or 4x the amount of product versus other franchises that pay half of that. Yet, somehow the price of a big mac is not 2x or 4x that of these other franchises (it's closer to 50 cents more). Nor are the local taxes and insurance so much lower in ND that it factors into it either.

    So they must be losing money then right? That's what we're told would happen if they had to raise the wage of the workers by even a couple bucks.
    Last edited by muldoon; 02-18-14 at 02:24 PM.

  6. #321
    itchypickle
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    Quote Originally Posted by muldoon View Post
    I actually happen to have a bit of proprietary information on the McDonalds franchise sales in that exact location versus a few others in San Diego, Las Vegas and one in Yuma Az.

    You make it sound like the one in Williston is so damn busy that they can somehow pay these double wages - yet they do less in yearly sales than the 3 above.

    I appreciate it's harder to get people to do the jobs there, but my point remains the same.

    I can't speak for the walmart sales, but I can speak regarding the McDonalds sales. They are not selling 2x or 4x the amount of product versus other franchises that pay half of that. Yet, somehow the price of a big mac is not 2x or 4x that of these other franchises. Nor are the local taxes and insurance so much lower in ND that it factors into it either.

    So they must be losing money then right? That's what we're told would happen if they had to raise the wage of the workers by even a couple bucks.
    No its rather easy to get a job there. But the thing is would you rather work for $17/hr at WalMart or make 3 or 4 times that but do 12 hour shifts on the rigs and then figure in housing (campers/trucks/train carts stacked like rooms).

    Williston is an anomaly for sure, can;t make the one town a model for the nation....WalMart and the McDonalds franchise owners also have to figure in cost long term....the boom will settle within a decade. Once completion crews finish the wells and pipeline is built getting the source to market....less hands needed out there. Right now companies are calling all truckers and offering double what they make currently to come drive for them getting the product to market as well as bring in all the equipment needed to build/complete/ and breakdown and supply the rigs...so once crews change over and a better delivery system in place...it will be less hectic.

  7. #322
    boeing power
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    Obama raising minimum wage and getting universal healthcare.

    Will he be remembered as the best president of all time?

  8. #323
    DwightShrute
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    Quote Originally Posted by boeing power View Post
    Obama raising minimum wage and getting universal healthcare.

    Will he be remembered as the best president of all time?

  9. #324
    Andy117
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    Quote Originally Posted by LT Profits View Post
    I still make less than minimum wage when you factor in how many hours I put in for SBR.
    Probably still overpaid...
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  10. #325
    Andy117
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    Quote Originally Posted by boeing power View Post
    Obama raising minimum wage and getting universal healthcare.

    Will he be remembered as the best president of all time?

    Uh no he won't be. He's not nearly as bad as some make him out to be, but overall he's not been a good president.
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  11. #326
    pavyracer
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    Quote Originally Posted by Andy117 View Post
    Uh no he won't be. He's not nearly as bad as some make him out to be, but overall he's not been a good president.
    He is the only President who hasn't start a war in more than 200 years. That puts him near the top.
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  12. #327
    grease lightnin
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    Quote Originally Posted by pavyracer View Post
    He is the only President who hasn't start a war in more than 200 years. That puts him near the top.

  13. #328
    ACoochy
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    Quote Originally Posted by pavyracer View Post
    He is the only President who hasn't start a war in more than 200 years. That puts him near the top.
    Maybe to the rest of the world but not to alot of disgruntled americans...

  14. #329
    DwightShrute
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    Quote Originally Posted by pavyracer View Post
    He is the only President who hasn't start a war in more than 200 years. That puts him near the top.
    just sayin'


  15. #330
    pavyracer
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    Quote Originally Posted by ACoochy View Post
    Maybe to the rest of the world but not to alot of disgruntled americans...
    All these posters who hate him now will be appreciating him 4 years from now when the next president is even worse.
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  16. #331
    DwightShrute
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    Quote Originally Posted by pavyracer View Post
    All these posters who hate him now will be appreciating him 4 years from now when the next president is even worse.
    only chance that happens if you elect ...


  17. #332
    The Madcap
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    Quote Originally Posted by King Mayan View Post
    more propaganda.. Look fat fukk..Get off your computer and go live life... Because clearly you only know what somebody else tells you...

    As for Che, you only see what your masters tell you(again)... Now run along puto and sukk some white dikk..

    I don't have masters. Free men don't take it up the ass. But thanks for admitting you're a lazy commie.

  18. #333
    pavyracer
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    Quote Originally Posted by DwightShrute View Post
    Can you post the Iraq casualties under Bush and under Obama?
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  19. #334
    King Mayan
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    Quote Originally Posted by The Madcap View Post
    I don't have masters. Free men don't take it up the ass. But thanks for admitting you're a lazy commie.
    I outwork you in every aspect of life tubby.. Guara-fukken-teed... Now run along and tell your master that you're free so he can laugh at you behind closed doors... but Limbaugh says you're free.. So that's good at least...

  20. #335
    The Madcap
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    Quote Originally Posted by King Mayan View Post
    I outwork you in every aspect of life tubby.. Guara-fukken-teed...

    You post too much on this forum to have time to outwork anybody but a hobo with palsy. And I write my own checks. The ones I write to the government allow your worthless unemployed broke ass to survive. Enjoy my table scraps bitch. I AM your master.

  21. #336
    King Mayan
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    All my posts are mobile.. Small paragraphs.. Quick.. While your posts are fukking novels.. Who writes 20 years worth of white dikk sucking diaries on a gambling site??? Pussies that have no life that's who

    "write my own checks"

    Stealing checks doesn't count as your own you dumbfukk..

  22. #337
    TheGuesser
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    Quote Originally Posted by pavyracer View Post
    He is the only President who hasn't start a war in more than 200 years. That puts him near the top.
    He wanted to go into Syria, but Putin saved his butt. He still has about 3 years to not involve us in a new war, and I'd wager that he will have us involved in a new one before he's done. Like you said, it's almost an American Presidential tradition.
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  23. #338
    The Madcap
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    Quote Originally Posted by King Mayan View Post
    All my posts are mobile.. Small paragraphs.. Quick.. While your posts are fukking novels.. Who writes 20 years worth of white dikk sucking diaries on a gambling site??? Pussies that have no life that's who

    "write my own checks"

    Stealing checks doesn't count as your own you dumbfukk..

    Just because it takes you significant time to read my posts doesn't mean it takes me that long to write them.



    And I run my own company. Maybe you hadn't noticed, but I haven't been posting here for almost a year till very recently. Why? Because I was too damned busy running my company. And what do I get for all that hard work? Guys like you bitching on the internet about guys like me not giving guys like you a job. Of course you never think about the 10 people I have given jobs to. Jobs that allow them to pay their bills and feed their families. That's what I spend my days doing. What have you done for your fellow man other than take up space and bandwidth whining like a commie whore? Not shit. So like I said, enjoy my table scraps you worthless bitch.

  24. #339
    guitarjosh
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    Quote Originally Posted by muldoon View Post
    In the boomtown of Williston ND., the McDonalds pays $15/hr and Walmart $17/hr.
    http://www.city-data.com/forum/attachments/williston/111888d1369007074-walmart-still-paying-17-per-hour-009.jpg

    Yet the prices in the McDonalds & Walmart are comparable to the McDonalds/Walmarts in other parts of the country where the pay is closer to half of
    Williston.

    How is it that these 2 bastions of normally low (or close to minimum) wage, are able to pay these wages, yet stay open?

    Is the importance of having the flag planted in
    Williston ND really worth losing money, month after month?

    Or are both these places still somehow profitable, even with these wages that we're told would shutter the business (or double/triple prices) elsewhere?
    Williston also has the highest rents in the country. The reason why is that there is an oil boom going on there, which means that the oil companies are desperate for workers, which means they'll pay a lot for those workers, which means McDonald's and WalMart must compete with those oil companies for workers by giving them more. The way to higher wages isn't through the government, but through a strong, growing economy.

  25. #340
    King Mayan
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    Quote Originally Posted by The Madcap View Post
    Just because it takes you significant time to read my posts doesn't mean it takes me that long to write them.



    And I run my own company. Maybe you hadn't noticed, but I haven't been posting here for almost a year till very recently. Why? Because I was too damned busy running my company. And what do I get for all that hard work? Guys like you bitching on the internet about guys like me not giving guys like you a job. Of course you never think about the 10 people I have given jobs to. Jobs that allow them to pay their bills and feed their families. That's what I spend my days doing. What have you done for your fellow man other than take up space and bandwidth whining like a commie whore? Not shit. So like I said, enjoy my table scraps you worthless bitch.
    you're a great storyteller tubbz... Like I said I outwork you in every aspect in life...

    10 people

  26. #341
    The Madcap
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    Quote Originally Posted by King Mayan View Post
    you're a great storyteller tubbz... Like I said I outwork you in every aspect in life...

    10 people

    Whatever you gotta tell yourself to stay hard for your mother.


    Seriously though Mayan, I gotta say how much I appreciate that through all our shittalk back and forth with one another over the years you've never pitched a fit and gone running off to the Mods. You dish what you take and take what you dish. Like a man. That's some honorable shit right there to me. Especially considering how some of the other posters on this forum behave. Props on that big fella



    Now go get a fukking job deadbeat.

  27. #342
    stevenash
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    Minimum Wage Hike Could Cost 500K Jobs, CBO Reports



    While Congressional Democrats and President Obama have made increasing the federal minimum wage a top priority this year, a new report by the non-partisan Congressional Budget Office finds a wage hike could result in a net job loss of about half a million workers even though it would increase wages for 16.5 million others.

    According to CBO, increasing the minimum wage would have two chief effects on low-wage workers: First, about 16.5 million workers would receive higher pay that would increase their family’s income, and about 900,000 of those families could earn a big enough increase to eclipse the federal poverty threshold.

    But CBO also forecasts some negative consequences from the proposed increase. Some jobs for low-wage workers would probably be eliminated, the report finds, and the income of most workers who lose jobs would fall substantially while the share of low-wage workers who were employed would also probably decrease.

    CBO projects that if the president’s proposal to increase the minimum wage to $10.10 was fully implemented by the second half of 2016, it would reduce total employment by about 500,000 workers, or 0.3 percent.

    “As with any such estimates, however, the actual losses could be smaller or larger; in CBO’s assessment, there is about a two-thirds chance that the effect would be in the range between a very slight reduction in employment and a reduction in employment of 1.0 million workers,” the report stated.
    For Republicans already suspicious of increasing the minimum wage, the report emboldens GOP opposition in the House of Representatives.

    “This report confirms what we’ve long known: while helping some, mandating higher wages has real costs, including fewer people working,” Brendan Buck, Boehner spokesman, wrote in an email. “With unemployment Americans’ top concern, our focus should be creating – not destroying – jobs for those who need them most.”

    Still, Democrats found some silver linings in the report while also doubting the credibility of some of the CBO’s findings.

    “[CBO's] conclusions contradict the consensus among hundreds of America’s top economists,” House Minority Leader Nancy Pelosi, D-Calif., contended. “What’s more, in past years, the CBO itself has acknowledged the uncertainty of its own predictions and ignored new perspectives in the wide array of analysis on the minimum wage.”

    The White House’s top economist expressed his “respectful disagreement” with the report’s finding that increasing the federal minimum wage could net 500,000 lost jobs. Chair of the Council of Economic Advisers Jason Furman told reporters the CBO report does not “reflect the overall consensus view of economists, who have said that the minimum wage would have little or no impact on employment.”

    “Our view is that… zero is a perfectly reasonable estimate of the impact of the minimum wage on employment,” Furman said
    Although federal spending and taxes would also be indirectly affected by the increases in real income for some people and the reduction in real income for others, CBO says it is unclear whether the effect as a whole would be a small increase or a small decrease in budget deficits over the next 10 years.

    “As a group, workers with increased earnings would pay more in taxes and receive less in federal benefits of certain types than they would have otherwise. However, people who became jobless because of the minimum-wage increase, business owners, and consumers facing higher prices would see a reduction in real income and would collectively pay less in taxes and receive more in federal benefits than they would have otherwise,” the report reads. “CBO concludes that the net effect on the federal budget of raising the minimum wage would probably be a small decrease in budget deficits for several years but a small increase in budget deficits thereafter.”

    CBO considered two proposals to change the minimum wage in its report. A “$10.10 option” would increase the federal minimum wage from its current rate of $7.25 per hour to $10.10 per hour in three steps—in 2014, 2015, and 2016 and then would be indexed to inflation. A “$9.00 option” would raise the federal minimum wage from $7.25 per hour to $9.00 per hour in two steps—in 2015 and 2016 and would not be subsequently adjusted for inflation.

    Nevertheless, Pelosi was adamant that the pros outweigh the cons and urged Republicans to act.
    “It’s time to give America a raise,” she stated.

    Last edited by stevenash; 02-19-14 at 08:50 AM.

  28. #343
    stevenash
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    Sunday’s New York Times magazine will feature an article called “ Supersize My Wage ” by economics reporter Annie Lowrey. She concludes, “Unlike any other form of wealth redistribution, raising the minimum wage is basically cost-free to Washington. If it won’t hurt the unemployment rate — as some research suggests — Washington figures, why not slip those fast-food joints the bill?”

    Lowrey’s column is one in a long series by the Gray Lady advocating increasing the minimum wage. Over the past month, the paper has published columns by Princeton professor Paul Krugman and University of Massachusetts professor Arindrajit Dube, to mention just two, on the advantages of raising the hourly minimum wage from its current level of $7.25.

    Some commentators want a $10.10 minimum wage, as proposed by President Obama, a 39% increase. Others, such as the Restaurant Opportunities Centers United and New York Communities for Change , want a $15 minimum wage, an over 100% increase.

    If raising the minimum wage were cost-free, why stop at $10 or $15 an hour? Why not go straight to $24 an hour, the average hourly wage? That might be considered fair, because no one would have to earn less than average.
    The answer, of course, is because some people are displaced at any minimum wage. It is obvious to the general public that increasing the minimum wage to $24 an hour would displace workers. It is less obvious when amounts are smaller. But when the minimum wage is raised, employers hire higher-skilled people, or switch to different forms of technology, such as placing orders through touchscreens.

    Lowrey begins her column by citing economic studies on the effects of raising the minimum wage on fast food restaurants in New Jersey and Pennsylvania in 1992. They concluded that raising the minimum wage had no effect, or a small positive effect, on employment. That is why Lowrey suggests slipping “those fast-food joints the bill.”
    The studies, published in 1994 and 2000 by University of California professor David Card and Princeton University professor Alan Krueger, later chairman of President Obama’s Council of Economic Advisers, compared New Jersey with neighboring Pennsylvania, which did not raise the minimum wage. [Read the studies here andhere.]

    But just because economic studies are published in leading academic journals does not mean that the conclusions are accurate. The studies had a number of problems. Card and Krueger do not include information on the portion of employment at minimum wage at any date in time. No information was given on whether the minimum law was binding, and to what extent, for this sample.

    The studies did not include information by county, such as income, unemployment, teen unemployment, labor force, and labor force participation rates. Neither did it include changes in state taxes and franchise fees.
    The regression statistics explain little variance, and practically none of the coefficients is significant. Card and Krueger infer that minimum-wage policy makes no difference. A more likely interpretation is that the equation excludes important variables.

    Card and Krueger focus exclusively on fast-food establishments, but many other minimum-wage employment opportunities in the service industry, particularly the hospitality industry, are also likely affected.
    Finding the effects of raising the minimum wage is challenging, because 97% of American workers now make above the minimum wage — not because it is the law, but because employers have to pay higher compensation packages to retain workers. That is one reason that some academic studies do not find major negative effects of minimum-wage increases.

    Those who would be harmed by increasing the minimum wage are young people. Half of minimum-wage workers are under 25, and 24% are teens. This group’s unemployment rate is already higher than the 7.3% overall rate. The teen unemployment rate is 21%, and the African-American teen unemployment rate is 36%. The youth unemployment rate is 12%.

    Despite the stream of rhetoric from the New York Times, it is the unemployment rates of these workers that would rise if the hourly minimum wage rose to $10 or $15.

    About 1.8 million Americans aged 16 to 24 worked for minimum wage in 2012, and many more young Americans coveted those jobs. Many young people start successful careers with minimum-wage jobs without expecting that the job will become a lifetime career. Doug McMillon, who will take over as Walmart CEO next February, started out as a teen unloading trucks at a Walmart distribution center.

    A November Gallup poll showed that 76% of Americans support raising the minimum wage. But practically everyone with a heart is in favor of raising wages, as long as those higher wages are paid by someone else.

    People might respond to pollsters saying that they are in favor of raising the minimum wage, but they are rarely willing to pay $13.90, or $20.00 for a service for which they pay only $10.00 today. They would not buy as much of the service if the price increased.

    That is why raising the minimum wage is not cost-free to Washington. More low-skill Americans would be out of work. People would buy less of the higher-priced services. Supersizing a wage is not as simple as supersizing a hamburger.

    Diana Furchtgott-Roth, former chief economist of the U.S. Department of Labor, directs Economics21 at the Manhattan Institute.

  29. #344
    Winner_13
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    Quote Originally Posted by brooks85 View Post
    So if you truly understand the laws of supply and demand, then let's look at it that way and see if we can get you on the right track.

    If everyone in this country is supplied a higher minimum wage, what does that do to demand of companies paying those wages?

    You can find a hint by looking at Australia.
    What is going on with Australia?
    Can you send me a link if you know of one?

  30. #345
    hockey216
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    Quote Originally Posted by Optional View Post
    Why doesn't your graph seem to fit all the countries with high minimum wages?

    Countries who update the minimum wage annually to keep pace with inflation too. Why is the US the only place that thinks what was set 5 years ago will do for today?

    You've got your head in the sand.



    US$/hr Updated
    Australia 16.88 1-Jul-13
    Luxembourg 14.24 1-Oct-13
    Monaco 12.83 1-Jan-14
    France 12.22 1-Jan-14
    Belgium 11.69 1-Apr-13
    San Marino 11.49 2012
    New Zealand 11.18 1-Apr-13
    Ireland 11.09 1-Jul-11
    Netherlands 10.99 1-Jan-14
    United Kingdom 10.02 1-Oct-13
    Canada 9.95 1-Sep-13
    Japan 8.32 6-Nov-13
    United States 7.25 24-Jul-09
    Andorra 7.12 1-Jan-14
    Israel 5.99 1-Oct-12
    Slovenia 5.8 1-Jan-13
    Spain 5.57 1-Jan-13
    Malta 5.51 1-Jan-13
    Greece 5.06 1-Jan-13
    South Korea 4.63 1-Jan-14
    Oman 4.39 1-Jul-13
    Portugal 4.19 1-Jan-11
    Argentina 4.13 1-Jan-14
    you never showed how raising the minimum wage creates jobs. I showed how raising the minimum wage destroys jobs. Do you want a ton of poor people to lose their jobs and become homeless?

    Your solution to create jobs is to implement a minimum wage. Guess what? Anyone that doesn't bring in 10/hr of profitability will have their job destroyed. Firms add labor until the Marginal product of Labor (profitability of adding another worker) = Wage. Then they stop. Higher wage means they employ fewer people. Jobs are destroyed.

    Price floors destroy jobs and cause workers to collectively earn LESS.

    Workers earn more at the equilibrium quantity. They earn less with the price floor. You think your solutions makes people earn more. It doesn't. It makes the labor force earn less.

    look at the graph i drew. learn what supply and demand is. learn what a price floor is. Go to college and study how the economy works.

  31. #346
    rkelly110
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    This thread, I would say is about the same as a climate change thread.

    Scientists disagree with one another and economists disagree with one another, but why an average person
    would argue with raising the minimum wage, is beyond me.

  32. #347
    Thor4140
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    This is bizarre. Social programs cut and Walmarts profits drop. Another slam dunk reason why the economy flows when the people who have money in their pockets spend it. U take the money out of these peoples hands and this is what happens. You put 50 million in some guys hands after his bank fails nothing goes back into the economy. I feel sorry for walmart here. Their rich buddies who's only agenda is to see a select few make big profits back fired a bit here. Looks like Walmart is gonna have to cut some jobs because of the righties thirst for taking every last cent out of a poor guys pocket book.

    Walmart Profit Drops 21 Percent As Food Stamp Cuts, Payroll Tax Hike Pinch Shoppers


    NEW YORK (AP) — Wal-Mart Stores Inc. offered a weak profit outlook Thursday, signaling that it expects economic pressures to keep weighing on its low-income shoppers around the world.
    The world's largest retailer also said its fourth-quarter profit, which covers the crucial holiday season, dropped 21 percent. Its Wal-Mart stores recorded their fourth consecutive quarter of declines in revenue at stores open at least a year.
    The company, which is based in Bentonville, Ark., said it would speed up growth plans for its smaller stores under Neighborhood Markets and Wal-Mart Express to cater to shoppers looking for more convenience. It will now open 270 to 300 small stores during the current fiscal year. That's double the initial forecast for adding 120 to 150 stores.
    The expansion of the smaller stores outpaces the growth of its supercenters, which had long been the company's growth engine.
    Wal-Mart also promised it will sharpen its focus on everyday low prices at its U.S. stores and further push that strategy abroad.
    "Customers' shopping habits are changing more rapidly than ever before," said Wal-Mart CEO and President Doug McMillon on a prerecorded call. He succeeded Mike Duke as CEO on Feb. 1. "We must be more nimble and flexible as we operate our businesses to adapt to these changes."
    Wal-Mart, the first of a slew of major retailers reporting fourth-quarter results, offers worrisome signs for the economy. Wal-Mart is considered an economic bellwether, with the company accounting for nearly 10 percent of nonautomotive retail spending in the U.S.
    The company, which operates more than 4,000 stores in the U.S., cited several factors that are weighing on shoppers.
    They've been dealing with a 2 percentage point increase in the Social Security payroll tax since Jan. 1, 2013. And the discounter acknowledged that the Nov. 1 expiration of a temporary boost in government food stamps is also hurting customers' ability to spend. Wal-Mart said that excluding the impact from the reduction of the food stamp program, revenue at stores opened at least a year would have been unchanged from a year ago.
    On top of that, a series of winter storms have also chilled sales as Wal-Mart was forced to close some stores— or shoppers just didn't want to venture out in the cold. The company said revenue at stores open at least a year fell in the first two weeks of February, the beginning of the first quarter, because of the severe weather. It said that at the height of the storms, it had more than 200 stores closed.
    These factors played out in the fourth-quarter earnings results.
    Wal-Mart said that it earned $4.43 billion, or $1.36 per share, in the quarter ended Jan. 31. That compares with $5.6 billion, or $1.67 per share, a year earlier.
    Excluding charges related to closing stores in Brazil and China, Wal-Mart earned $1.60 per share.
    Net revenue was up 1.4 percent to $128.79 billion.
    Analysts were expecting $1.59 per share on revenue of $129.9 billion, according to FactSet.
    Revenue at stores open at least a year fell 0.4 percent, the fourth consecutive quarterly decline. But the company said that the metric for its Neighborhood Market stores rose 5 percent for the quarter.
    Those formats, which offer such items as fresh produce, meat, household supplies and beauty products, average about 38,000 square feet. Its supercenters average about 182,000 square feet.
    The company expects that earnings for the current quarter will come in between $1.10 per share and $1.20 per share. For the full year, it expects earnings per share to be $5.10 per share and $5.45 per share.
    Analysts expected $1.23 per share for the first quarter, and $5.56 per share for the year, according to FactSet estimates.
    Wal-Mart's stock fell $1.20 to $73.65 in premarket trading.


  33. #348
    itchypickle
    Dan Bilzerian's gunsmith
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    Quote Originally Posted by rkelly110 View Post
    This thread, I would say is about the same as a climate change thread.

    Scientists disagree with one another and economists disagree with one another, but why an average person
    would argue with raising the minimum wage, is beyond me.
    Coke vs Pepsi, Red Sox or Yankees....Hayek vs Keynes....will always be debate.

    Your 'average person' will of course say yes most of the time, sounds good in general.

  34. #349
    Sam Odom
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    Who dislikes Santa Claus ?

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  35. #350
    TheGuesser
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    Quote Originally Posted by Sam Odom View Post
    Who dislikes Santa Claus ?
    Nomination(s):
    This post was nominated 1 time . To view the nominated thread please click here. People who nominated: newguy
    175 pts

    3-QUESTION
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