The Impact of Wal-Mart on the Local Economy
Ignacio Lucero
MGMT 3043
“The impact of Wal-Mart on the local economy”
Article Summary
“The impact of Wal-Mart on the local economy” is an article based in a film released in 2005 called Wal-Mart: The High Cost of Low Prices. This article summarizes how Wal-Mart poor employment practices affect the local economy many ways in the United States with a great amount of controversy. According to statistics a typical Wal-Mart store hires anywhere from 150 to 350 new people but is estimated that more than half of Wal-Mart’s employees leave the company each year. One of the positive impacts of Wal-Mart is that it creates jobs but the quality of these jobs causes a big controversy. “An Article published in the New York Times by Steven Greenhouse states that that an internal audit of Wal-Mart in 2000 of 25,000 employees during a time period of one week found 60,767 missed breaks, 15,705 lost meal times, and 1,371 instances of minors working too late, too many hours in a day, or during the school day. Wal-Mart has undoubtedly created jobs, but the quality of the jobs has been reason for question”
Yes, Wal-Mart creates more employment and lost jobs usually account for 70 jobs for every 100 jobs created by Wal-Mart but How about quality? The article states that for every new Wal-Mart adds 16 Medicaid cases. Medicaid is a government-assisted program, which means that is finance from taxes since the government revenue is the taxes that every American pays to the government.
In conclusion says that it is difficult to see if the expenses on the community are greater than the revenue that a Wal-Mart Brings into the community, or vice versa.
Student’s Thoughts
I found this article very interesting to me because there are many factors involved in this issue. Wal-Mart is a great retail company growing at a fast pace and but I do not know if I can call it a great company from the United States if actually seems like it is hurting their economy since a great amount of people
MGMT 3043
“The impact of Wal-Mart on the local economy”
Article Summary
“The impact of Wal-Mart on the local economy” is an article based in a film released in 2005 called Wal-Mart: The High Cost of Low Prices. This article summarizes how Wal-Mart poor employment practices affect the local economy many ways in the United States with a great amount of controversy. According to statistics a typical Wal-Mart store hires anywhere from 150 to 350 new people but is estimated that more than half of Wal-Mart’s employees leave the company each year. One of the positive impacts of Wal-Mart is that it creates jobs but the quality of these jobs causes a big controversy. “An Article published in the New York Times by Steven Greenhouse states that that an internal audit of Wal-Mart in 2000 of 25,000 employees during a time period of one week found 60,767 missed breaks, 15,705 lost meal times, and 1,371 instances of minors working too late, too many hours in a day, or during the school day. Wal-Mart has undoubtedly created jobs, but the quality of the jobs has been reason for question”
Yes, Wal-Mart creates more employment and lost jobs usually account for 70 jobs for every 100 jobs created by Wal-Mart but How about quality? The article states that for every new Wal-Mart adds 16 Medicaid cases. Medicaid is a government-assisted program, which means that is finance from taxes since the government revenue is the taxes that every American pays to the government.
In conclusion says that it is difficult to see if the expenses on the community are greater than the revenue that a Wal-Mart Brings into the community, or vice versa.
Student’s Thoughts
I found this article very interesting to me because there are many factors involved in this issue. Wal-Mart is a great retail company growing at a fast pace and but I do not know if I can call it a great company from the United States if actually seems like it is hurting their economy since a great amount of people
References: * Rooney, A. (n.d.). The impact of Wal-Mart on the local economy - by Anthony Rooney - Helium. Helium - Where Knowledge Rules. Retrieved March 7, 2011, from http://www.helium.com/items/980272-the-impact-of-wal-mart-on-the-local-economy * Greenwald, R. (Director). (2005). Wal-Mart: The High Cost of Low Price [Motion Picture]. * Creadon, P. (Director). (2008). I.O.U.S.A. [Motion Picture].