Conference moderator Barbara Gertz, a five-year Walmart worker from Colorado, noted that more than half of the big-box giants hourly employees make less than $25,000 per year. She remarked, Why do we, workers at the worlds largest company, have to band together just to afford Thanksgiving dinner? Yes, Walmart associates stick together and look out for each other. We have to, because Walmart and the Waltons seem to be fine with the financial struggles were all facing. As noted in a follow-up press release, Walmart makes more than $17 billion in profits, with the wealth of the Walton family totaling over $144.7 billion - equal to that of 42 percent of Americans. Amy Traub, a senior policy analyst and OURWalmart member, pointed out that theres simply no excuse for that sharp inequality. There are clearly measures the corporation could take to treat its workers more fairly. For example, she said, We looked at the billions that Walmart spends annually on unproductive investments on Wall Street. If it diverted these funds, it could raise workers wages. Walmart also spends money on share buybacks, which dont always even benefit investors in the long term. This, too, could be going to workers. She noted, however, Walmarts current business model is certainly benefiting the heirs to the Walton fortune. But unfortunately, thats not the case for workers, or for taxpayers who end up subsidizing Walmarts payroll.
Posted on: Mon, 25 Nov 2013 23:32:49 +0000
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