Hightower Lowdown

What looks like a good deal on the price tag can turn out to be a raw deal because of hidden costs. Nowhere is this more true than at Wal-Mart, the retail Goliath that boldly declares: “We Sell For Less.”
Hmmm. How does Wal-Mart do that? Does it take less profit? Hardly. It sucks up more profits than any other retailer on the planet—twice as much profit as the next 15 retailers combined. Does it scrimp on executive pay? Nope. Wal-Mart’s CEO raked in a package of $11.5 million last year. Does the ruling Walton family forgo riches? Get real. Of the 10 richest people in the world, five are Waltons.
So who pays for the low prices? Start with the store workers, who average a poverty wage of under $11,000 a year. Most get no health-care benefits and are made to work several hours a month “off the clock,” which means for no pay.
Communities pay, too, when Wal-Mart’s predatory pricing forces local retailers out of business, eliminating jobs, tax revenues, consumer choices, charitable donations and the middle-class wages paid by the local firms. Unlike local business, Wal-Mart doesn’t buy from local suppliers. The money it makes in your town is hauled off to corporate headquarters and not reinvested locally.
All across the country, folks are deciding that Wal-Mart’s “low prices” are too high, and they’ve organized a National Day of Action for Thursday, November 21, rallying communities to stand up to this bullying behemoth. Events are planned at Wal-Marts in every state. To get involved, go to the website: www.walmartdayofaction.com.