This article was originally published in our The Public Good: Reports from the Front Lines (September 27, 2017), available here. In the 1980s, leveraged buyouts became financial engineering’s newest invention. Corporate raiders would use the assets of the target corporation to collateralize the debt required to take it over. The resulting large debt payments burdened the … Read More
State data reveal that Walmart, Target, Whole Foods, and others offer such low pay and benefits that many of their employees rely on public assistance, at a cost of billions of dollars a year. … Read More
Handing out multimillion-dollar subsidies to large chains has become commonplace in much of the country. But when governments use public money to woo national chains, economic growth and job creation are negligible, and independent retailers suffer, Stacy Mitchell argues in this commentary for Business Week.
As the company’s misdeeds pile up in the public consciousness, it can be tempting to define the problem of Wal-Mart as one of a bad apple—a rogue company gone awry in an otherwise sound economic system.
Wal-Mart has indeed attained a scale that puts it in a category all its own, and there’s no question that it is leading a race to the bottom. But others are running that race too. Target’s wages are as poor and its health benefits as out of reach. Home Depot and Lowe’s have crushed thousands of independent hardware stores. Best Buy has its main sourcing office Shanghai, where it relies on the same dismal factories.
Massachusetts spent more than $52 million last year providing healthcare coverage to employees of some of the state’s largest companies, including numerous chain retailers like Wal-Mart, Dunkin Donuts, Stop & Shop, CVS, Home Depot, and Target. … Read More
Hundreds of residents have attended hearings held by the Los Angeles City Council’s Economic Development and Employment Committee on ways to mitigate the negative effects of supercenters on the community. Supercenters are massive stores, primarily operated by Target and Wal-Mart, that combine general merchandise with a full supermarket.… Read More