Wal-Mart: The high cost of the low price
Founded in 1962 by Sam Walton, Wal-Mart has grown to be one of the biggest transnational retail stores in the world. As of today, it has over eight thousand five hundred stores worldwide in fifteen different countries. It is reported that Wal-Mart has a net income of 15.2 billion dollars and sales revenue of 312.4 billion dollars. That's enough to pay for seven years of health care fee for every man, women, and children in the United States! Providing one of the lowest prices in the market and allowing customers to do one-stop shopping, many would agree that opening a Wal-Mart would bring a win-win situation for both the company and the consumers. Even though Wal-Mart has its own bright side, there are also many things that critics can say against it. Wal-Mart is one of the most anti-union companies and do not allow workers to negotiate on their behalf in matters such as pay, working conditions, hours and benefits. About eight years ago, the private corporation set up a store in Jonquiere, Quebec. Many of the 190 employees wanted a voice because "there were injustice at the company and it did not respect its workforce". The employees weren't satisfied with minimum wages starting from $6.20 per hour and limiting some workers to work twenty eight hours a week. As the workers successfully unionized to speak up for their rights, the company shuts down the store. This made many bitter employees jobless, and the town uneasy over future unions. Another issue that particularly impacted small business owners are that they have the tendency to crush competitors and destroy nearby businesses. Many couldn't compete as Wal-Mart offers absurdly low prices and offer everything from jeans to furniture on its shelves. An incident happening in Middleton, Ohio is an example. When a new Wal-Mart opened just two miles away, H&H Hardware, a family operated business since 1962, was forced to close its door. The business owner consider...
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