Posts Tagged ‘employees’
I’m sure some will say I’m an alarmist. A grand conspiracy theorist. However, bailouts are all the rage for large companies these days. If we look at the reasoning given to us about bailing out the failed, antiquated, and obsolete GM and Chrysler, a Walmart bailout doesn’t seem that far fetched. GM and Chrysler were too large to let fail. That’s what we were told. Yet, they failed anyway, after taking billions of dollars. Let the economic meltdown begin!
Walmart is posting solid earnings you say? Walmart certainly has many things going for it. However, international economics are not working in favor of Walmart. The vast majority of Walmart products come from China. There is incredible pressure on the US dollar against the RMB. In fact, the USD buys a whole lot less in China today than it did a year ago, let alone a couple of years ago.
China has also changed their employment law. While many view it as good for Chinese workers, it has put additional pressure on the ability to get Chinese made goods. The long term effects of this policy are yet to be determined. However, it is highly unlikely that the new Chinese employment law is going to make Chinese made products more affordable.
China isn’t the only place where Walmart gets products. However, Walmart can’t just start sourcing products in another country where the dollar may be stronger and employment laws aren’t changing. First, international patents will likely prevent most of that from happening. That’s a topic for an entirely separate blog (that I’ll probably never get around to writing). As the USD falls, so will Walmart’s profits.
If Walmart executives choose to cash in on the scare tactics used by GM and Chrysler, they could easily squeeze billions of dollars in a bailout. After all, the total number of employees for GM was estimated at a quarter million. Walmart employs more than two million. That’s eight times as many people losing their jobs if Walmart fails. We can’t let that happen, right? Just think of the children!
If you’ve made it this far and think this has anything to do with Walmart, I’ll spell it out right now. I think GM and Chrysler sucker punched America! I think there is a special place in hell right next to people who talk during movies for the executives and politicians who sucked money out of our pockets for that ridiculous automobile bailout.
Anyone who says the Bush stimulus package of a $600 tax rebate is not going to stimulate the US Economy hasn’t been watching The Big Idea with Donny Deutsch. I’ve seen more millionaires made from $600 or less on that show than I ever thought was possible. The moral of the story: Your wealth is what you make of it.
Every time I watch that show, I’m completely inspired. Regular people making it big because they had a dream that they pursued. My favorite episode was a few days ago. I can’t remember the guy’s name, but there was a venture capitalist on the show who said that the “side job” never becomes the next million dollar idea. Got me thinking about how many “side jobs” I’ve had over the years. None of them took off. Watching the show, I see nearly all of the stories have something in come: they quit their job went after the dream.
What dream is worth dreaming but not pursuing? Time to take the plunge. Grab that $600 tax rebate and do something with it!
I kid you not… This is an actual resignation letter that a friend of mine sent our boss today. I have removed the names to protect the innocent:
To further my career, I have taken a position with another company. This is a letter of resignation effective, immediately. Considering how former employees have been treated recently in regards to money owed, I feel justified with the short notice you have been given. I’ve simply done what I’ve deemed necessary to protect my own interests. That said, I am still owed one week’s pay and 1 week’s vacation pay. My account reps have been contacted and have been passed on to _______ for the show. I did, however, write the copy which I will email to you and ______.
Professionalism dictates a two week notice as a courtesy. However, with the disrespect with which you treat your employees, I see no need for said courtesy. You have, on regular occasions, threatened your employees with physical violence such as threatening to slap them, hurt them, kill them, tape their mouths shut and put them in cages. All of which I have documented. Who the hell do you think you are? This is America, you can’t talk to people like that! Just because you pay someone a salary, doesn’t give you the right to to subject them to that sort of abuse.
I came back to your company with the best of intentions. I was extremely motivated and ready to build your business but after putting up with this sort of assinine behaviour for over a year, I am no longer willing to work in this oppressive environment.
You reap what you sow……