Once again Walmart shows why it is king. Wal-Mart Stores Inc., known for its strong stance against workers unionizing, on Thursday closed a tire and lube center in Canada where workers had voted to organize.
A Wal-Mart spokesman said the five workers and one manager at the center were offered jobs at comparable Wal-Mart facilities or elsewhere in the store, which is located in Gatineau, Quebec and has more than 250 workers. The store itself will remain open.
The closure comes after an arbitrator in Quebec had imposed a labor contract on the facility in August.
The United Food and Commercial Workers union called the closure an "attack" on Wal-Mart workers. Wal-Mart in 2005 closed a store in Jonquiere, Quebec, after workers there agreed to unionize. The union has a Canada Supreme Court case pending over whether those workers' rights were violated.
Wayne Hanley, president of UFCW Canada, said the closing violates workers' rights.
"Wal-Mart thinks a cheap oil change is more important than the Canadian constitution," Hanley said.
Wal-Mart Canada spokesman Andrew Pelletier said the contract that was imposed on Wal-Mart in August would have raised costs too much. "It could require us to increase consumer prices by more than 30 percent," Pelleti
What really makes this so interesting is that Walmart is a solid stock on the S&P Canada, and there is nothing that anyone can do to stop them.
Showing posts with label WalMart. Show all posts
Showing posts with label WalMart. Show all posts
Friday, October 17, 2008
Thursday, November 1, 2007
Thursday Turmoil
WASHINGTON (AP) -- The Federal Reserve pumped $41 billion into the U.S. financial system Thursday, the largest cash infusion since September 2001, to help companies get through a credit crunch.
The action came one day after Fed Chairman Ben Bernanke and all but one of his central bank colleagues voted to slice a key interest rate. It was the second time in six weeks that policymakers acted to protect the economy from the effects of the housing downturn and credit troubles.
The Federal Reserve Bank of New York, which carries out the central bank's open market operations, moved Thursday to inject $41 billion in temporary reserves into the financial system.--
Where to begin... Citi needs to raise 6b over the next six months, but that will not lead them to cut their dividend. Why? Because if they do, their stock price will tank, and fast. Amid record composite trading volume, Citi shares fell $2.85 to $38.51, their lowest level since May 2003 and their biggest one-day drop since September 2002, when the company was swamped with regulatory concerns.
Citi earlier this month reported a 57 percent drop in third-quarter profit, renewing speculation about the job security of Charles Prince, its chief executive.
G7 Hundred
Google has signed agreements with T-Mobile, SprintNextel (S), Verizon, and Alltel to provide ad content to new mobile devises. This expansion of its core function is asset light, and should yield high returns. People familiar with the Big G's plan say that Google is in active talks with No. 2 U.S. mobile carrier Verizon Wireless (VZ) )about putting Google applications on phones it offers. Additionally, Google only spends about 500m in capital spending, that means that everything they spend is form revenue. Plus they are investing heavy in R&D. I see the stock continuing to climb and kick mud into the face of their detractors. Good will pass $800/share before the end of the year and by Q2 next year the price will finally plateau at around $950/share. Then we can talk split.
F Bomb
On the day when the pilot of the A-Bomb dies, the market dropped is own F-Bomb. Ford Motor Co (F) posted on Thursday a 9.5 percent decline in U.S. sales for October, hurt by a drop in demand for its best-selling F-Series pickup truck.
Ford also increased Q4 sales estimated by 5,000 units, for some reason, to 645,000 vehicles. Consumer spending will remain on the decline as the housing market shocks may begin to subside, gas prices and consumer confidence will continue to decline.
In the silver lining announcement of the day, WalMart has announced that it will roll back prices early this year, ahead the typical Black Friday.
Todays Bullish Picks
1. Microsoft
2. Crocs, Inc. (CROX)
3. Exxon Mobile, Corp. (XOM_
4. US Steel (X)
The action came one day after Fed Chairman Ben Bernanke and all but one of his central bank colleagues voted to slice a key interest rate. It was the second time in six weeks that policymakers acted to protect the economy from the effects of the housing downturn and credit troubles.
The Federal Reserve Bank of New York, which carries out the central bank's open market operations, moved Thursday to inject $41 billion in temporary reserves into the financial system.--
Where to begin... Citi needs to raise 6b over the next six months, but that will not lead them to cut their dividend. Why? Because if they do, their stock price will tank, and fast. Amid record composite trading volume, Citi shares fell $2.85 to $38.51, their lowest level since May 2003 and their biggest one-day drop since September 2002, when the company was swamped with regulatory concerns.
Citi earlier this month reported a 57 percent drop in third-quarter profit, renewing speculation about the job security of Charles Prince, its chief executive.
G7 Hundred
Google has signed agreements with T-Mobile, SprintNextel (S), Verizon, and Alltel to provide ad content to new mobile devises. This expansion of its core function is asset light, and should yield high returns. People familiar with the Big G's plan say that Google is in active talks with No. 2 U.S. mobile carrier Verizon Wireless (VZ) )about putting Google applications on phones it offers. Additionally, Google only spends about 500m in capital spending, that means that everything they spend is form revenue. Plus they are investing heavy in R&D. I see the stock continuing to climb and kick mud into the face of their detractors. Good will pass $800/share before the end of the year and by Q2 next year the price will finally plateau at around $950/share. Then we can talk split.
F Bomb
On the day when the pilot of the A-Bomb dies, the market dropped is own F-Bomb. Ford Motor Co (F) posted on Thursday a 9.5 percent decline in U.S. sales for October, hurt by a drop in demand for its best-selling F-Series pickup truck.
Ford also increased Q4 sales estimated by 5,000 units, for some reason, to 645,000 vehicles. Consumer spending will remain on the decline as the housing market shocks may begin to subside, gas prices and consumer confidence will continue to decline.
In the silver lining announcement of the day, WalMart has announced that it will roll back prices early this year, ahead the typical Black Friday.
Todays Bullish Picks
1. Microsoft
2. Crocs, Inc. (CROX)
3. Exxon Mobile, Corp. (XOM_
4. US Steel (X)
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