The Terrible Economy Just Claimed Another Victim: Walmart's U.S. CEO

[dbphoenix]

The sluggish U.S. economic recovery just claimed another job.

Bill Simon, CEO of Walmart U.S., is stepping down, Walmart announced on Thursday. Simon's tenure was marked by a long stretch of poor performance, but bad luck might have played a role in that: He held the post during a particularly terrible time for low- and middle-income Americans, who are also Walmart's core customers.
more . . .

Of course, he got a 4.5 million dollar severance package.

Poor thing.

 

[kut2k2]

The sluggish U.S. economic recovery just claimed another job.

Bill Simon, CEO of Walmart U.S., is stepping down, Walmart announced on Thursday. Simon's tenure was marked by a long stretch of poor performance, but bad luck might have played a role in that: He held the post during a particularly terrible time for low- and middle-income Americans, who are also Walmart's core customers.
more . . .

Of course, he got a 4.5 million dollar severance package.

Poor thing.

Gee, I guess when you pay your workers inferior wages, they really can't afford to buy your products. Amazing how these greedheads have failed to learn Henry Ford's century-old wisdom.

 

[jem]

Its because they figured out how to buy off the democrats and get the govt to subsidize their workers. so at first it was nicely profitable... especially if the workers could take a home equity loans from China which did not require them to show the ability to pay the loan back. China was not worried about the quality of the loan because they knew the FED would swap out 1.5 trillion in bad loans for treasuries with them.

you got one thing correct kut....

democrat / crony schemes that screw with the market can only work so long.

 

[xelite777]

democrat / crony schemes that screw with the market can only work so long.

The only problem is that there are no democrats, republicans, left, right, center, communists/capitalists, etc... all these political groups/ideologies are created/controlled by the same invisible Elite so that they can serve their own interests ( and their own interests only!) while still giving the sheeple (er... I mean the "voters") the illusion of political choice.

 

[jem]

not arguing.. the bankers and the businesses own almost all the dems and the establishment Rs. Its just the the policies which screw with job market and wages at wal mart level are mostly democrat policies.

The only problem is that there are no democrats, republicans, left, right, center, communists/capitalists, etc... all these political groups/ideologies are created/controlled by the same invisible Elite so that they can serve their own interests ( and their own interests only!) while still giving the sheeple (er... I mean the "voters") the illusion of political choice.

 

[wheaties]

"Wal-Mart Stores warned Friday that cuts to the nation's food stamps program late last year will hurt its bottom line."

Clearly, the problem is that the government is not giving money away fast enough.

http://money.cnn.com/2014/01/31/news/companies/walmart-food-stamps/

 

[nazzdack]

----Bill Simon, CEO of Walmart U.S.
----Poor thing.

He's "only" 54 years old. Headhunters will be pestering him with job offers.

 

[ES Shooter]

That is because all the retail business is going online dumb dumb.

What's that.................AMZN is down 10%! OH SHIT!!!!! Were all going to die, Save Yourselves!

The death rattle of retail has grown ever louder. 40% of americans make 10 dollars or less, 96 million are out of work! Only 23% have what is considered a "good job" which is 37 k annually and medical benefits. :eek:

Very tragic, we are in an economic depression no doubt. Here are some stats I threw together concerning retails dismal performance.

Wal-Mart Profit Plunges By $220 Million as US Store Traffic Declines by 1.4%
Target Profit Plunges by $80 Million…as Store Traffic Declines by 2.3%
Sears Loses $358 Million in Q1 as Comparable Store Sales Plunge by 7.8%
Sales at Kmart Plunge by 5.1%
JC Penney Thrilled With Loss of Only $358 Million For the Quarter
Kohl’s Operating Income Plunges by 17% as Comparable Sales Decline by 3.4%
Costco Profit Declines by $84 Million as Comp Store Sales Only Increase by 2%
Staples Profit Plunges by 44% as Sales Collapse and Closing Hundreds of Stores
Gap Income Drops 22% as Same Store Sales Fall
American Eagle Profits Tumble 86%, Will Close 150 Stores
Aeropostale Losses $77 Million as Sales Collapse by 12%
Best Buy Sales Decline by $300 Million as Margins Decline and Comparable Store Sales Decline by 1.3%
Macy’s Profit Flat as Comparable Store Sales decline by 1.4%
Dollar General Profit Plummets by 40% as Comp Store Sales Decline by 3.8%
Urban Outfitters Earnings Collapse by 20% as Sales Stagnate
McDonald’s Earnings Fall by $66 Million as US Comp Sales Fall by 1.7%
Darden Profit Collapses by 30% as Same Restaurant Sales Plunge by 5.6% and Company Selling Red Lobster
TJX Misses Earnings Expectations as Sales & Earnings Flat
Dick’s Misses Earnings Expectations as Golf Store Sales Plummet
Home Depot Misses Earnings Expectations as Customer Traffic Only Rises by 2.2%
Lowes Misses Earnings Expectations as Customer Traffic was Flat

 

[jem]

wow... that is something to think about.
cut taxes significantly and watch jobs come back.

That is because all the retail business is going online dumb dumb.

What's that.................AMZN is down 10%! OH SHIT!!!!! Were all going to die, Save Yourselves!

The death rattle of retail has grown ever louder. 40% of americans make 10 dollars or less, 96 million are out of work! Only 23% have what is considered a "good job" which is 37 k annually and medical benefits. :eek:

Very tragic, we are in an economic depression no doubt. Here are some stats I threw together concerning retails dismal performance.

Wal-Mart Profit Plunges By $220 Million as US Store Traffic Declines by 1.4%
Target Profit Plunges by $80 Million…as Store Traffic Declines by 2.3%
Sears Loses $358 Million in Q1 as Comparable Store Sales Plunge by 7.8%
Sales at Kmart Plunge by 5.1%
JC Penney Thrilled With Loss of Only $358 Million For the Quarter
Kohl’s Operating Income Plunges by 17% as Comparable Sales Decline by 3.4%
Costco Profit Declines by $84 Million as Comp Store Sales Only Increase by 2%
Staples Profit Plunges by 44% as Sales Collapse and Closing Hundreds of Stores
Gap Income Drops 22% as Same Store Sales Fall
American Eagle Profits Tumble 86%, Will Close 150 Stores
Aeropostale Losses $77 Million as Sales Collapse by 12%
Best Buy Sales Decline by $300 Million as Margins Decline and Comparable Store Sales Decline by 1.3%
Macy’s Profit Flat as Comparable Store Sales decline by 1.4%
Dollar General Profit Plummets by 40% as Comp Store Sales Decline by 3.8%
Urban Outfitters Earnings Collapse by 20% as Sales Stagnate
McDonald’s Earnings Fall by $66 Million as US Comp Sales Fall by 1.7%
Darden Profit Collapses by 30% as Same Restaurant Sales Plunge by 5.6% and Company Selling Red Lobster
TJX Misses Earnings Expectations as Sales & Earnings Flat
Dick’s Misses Earnings Expectations as Golf Store Sales Plummet
Home Depot Misses Earnings Expectations as Customer Traffic Only Rises by 2.2%
Lowes Misses Earnings Expectations as Customer Traffic was Flat

 

[jeb9999]

The sluggish U.S. economic recovery just claimed another job.

Bill Simon, CEO of Walmart U.S., is stepping down, Walmart announced on Thursday. Simon's tenure was marked by a long stretch of poor performance, but bad luck might have played a role in that: He held the post during a particularly terrible time for low- and middle-income Americans, who are also Walmart's core customers.
more . . .

Of course, he got a 4.5 million dollar severance package.

Poor thing.

$4.5 million severance for a mega company CEO is nothing.

Sounds like a zinc handshake goodbye.