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Wal-Mart Chief Writes Off New York

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Wal-Mart Chief Writes Off New York

Old 03-29-07, 08:48 AM
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Wal-Mart Chief Writes Off New York

Linky: http://www.financialexpress.com/fe_f...tent_id=159356
The Financial Express - Net Edition
Posted online: Thursday, March 29, 2007 at 0109 hours IST

(Reuters) Frustrated by a bruising, and so far unsuccessful battle to open its first discount store in New York City, Wal-Mart Stores Inc.'s chief executive said, "I don't care if we are ever here."

H Lee Scott Jr, the chief executive of the nation's largest retailer, said at a meeting with editors and reporters of The New York Times that trying to conduct business in the US's largest city was so expensive -- and exasperating -- that "I don't think it's worth the effort." He said Wal-Mart executives have lobbied for a store in New York, but he remains unconvinced. "It's too hard to make money here," he said.

Later, Wal-Mart spokesperson Mona Williams sought to amend Scott's remarks, the Times said. "Entering New York has been difficult, but not something we rule out," she said in an interview with the Times. "Lee said he personally didn't care if we built stores there or not. It might be more trouble than it's worth, but that he would leave that up to the real estate group that makes these decisions."

In recent years the retailer has made vigorous efforts to crack into urban markets and expand beyond its suburban base in much of the US.
Old 03-29-07, 09:00 AM
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Originally Posted by kenbuzz
A Wal-Mart in Manhattan?

How ghetto would that be?
Old 03-29-07, 09:09 AM
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Well, we have K-Mart, Home Depot, etc.
Old 03-29-07, 09:09 AM
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Gee fewer Wal-Marts, imagine that!
Old 03-29-07, 09:40 AM
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Not fewer Wal-Marts, exactly. Just less expansion into high-priced real estate markets.
Old 03-29-07, 09:44 AM
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they were going to originally build it a few blocks from where i live in queens. the unions and small business owner allies killed it. now they are building a

http://www.c21stores.com/

which will kill off half the small businesses in a 1 mile radius. the irony
Old 03-29-07, 10:03 AM
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The amount that I don't care about this is staggering. I can count on one hand the number of times I've stepped into a Wal-Mart, and each time I have to fight the urge to kill myself.
Old 03-29-07, 10:10 AM
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Good. Leave that red-neck owned, slave working store out of here.
Old 03-29-07, 10:14 AM
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Originally Posted by leest3
Good. Leave that red-neck owned, slave working store out of here.
I agree. I love WalMart, but I can't drive to New York just to shop there.
Old 03-29-07, 10:37 AM
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First off, there is Kmart, Target, Home Depot, and every single crap restaurant chain here, so lets not pretend this is the bastion of the mom and pop anymore. Plus grocery shopping here in NYC is a joke with its prices and selection so it would be nice to be able to have affordable options. I mean, I dont really care one way or the other, but there is really no reason anymore not to have a Walmart. And Queens is filled with plenty of lazy, uninspired, never heard of customer service before people to fill it up with employees
Old 03-29-07, 10:41 AM
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Oh, yea...that's always good to for a city. A place to expensive and to much trouble for one of the most successful businesses to want to come there. Always a good move.
Old 03-29-07, 10:47 AM
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Originally Posted by FantasticVSDoom
First off, there is Kmart, Target, Home Depot, and every single crap restaurant chain here, so lets not pretend this is the bastion of the mom and pop anymore. Plus grocery shopping here in NYC is a joke with its prices and selection so it would be nice to be able to have affordable options. I mean, I dont really care one way or the other, but there is really no reason anymore not to have a Walmart. And Queens is filled with plenty of lazy, uninspired, never heard of customer service before people to fill it up with employees
It's not just about the mom and pop shops being affected. It's about Wal Mart being the representation of everything that is wrong with capitalism. Don't get me wrong I believe it's much better than communism, but it still has it's major flaws.
Old 03-29-07, 10:50 AM
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There isn't a Wal-Mart within 20 miles of Boston.
Old 03-29-07, 10:52 AM
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Same here, the closest Wal-Mart to me is about 20 miles and I live in the 2nd largest city in the nation.

I would love a Super Wal-Mart around here.

Chris
Old 03-29-07, 11:09 AM
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The real estate costs for Wal-Mart there would be criminal. And honestly, if I lived in NYC, I don't think I'd ever shop at a Wal-Mart. I do now because it's close and it saves me money (on certain items).

If you'd like to have me stop shopping at Wal-Mart, send me the $25 a week I save.
Old 03-29-07, 11:16 AM
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Originally Posted by lordwow
There isn't a Wal-Mart within 20 miles of Boston.

There are 12.
Old 03-29-07, 11:19 AM
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Originally Posted by leest3
It's not just about the mom and pop shops being affected. It's about Wal Mart being the representation of everything that is wrong with capitalism. Don't get me wrong I believe it's much better than communism, but it still has it's major flaws.

if you think all the other big business stores here treat their people any better than wal mart you are deluding yourself. at least wal mart has better pay and benefits than most of the mom and pop businesses here
Old 03-29-07, 11:25 AM
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Originally Posted by al_bundy
if you think all the other big business stores here treat their people any better than wal mart you are deluding yourself. at least wal mart has better pay and benefits than most of the mom and pop businesses here
A company known for employing illegal aliens and underpaying them on a mass level, and treaing them like shit, is not as bad as one mom and pops store hiring some Mexican who just crossed the border. Wal-Mart has benefits now? I've been out of the news lately.
Old 03-29-07, 11:36 AM
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almost every restaraunt here no matter what the ethnicity has illegals cooking the food. except for the expensive ones, almost every single one does. most of the bus boys are illegals. even in the big chains like applebees.

wal mart has always given people the option to purchase health insurance, 401k and a host of other benefits. it's also one of the best companies that promotes from within. most of it's managers started out as floor associates.

the only stores better in the benefits department are whole foods, starbucks and costco. but in those cases you pay more or there is no selection so there are savings in other areas to pay the benefits

just wait until the new Century 21 opens up where Wal Mart wanted to a few years ago. The small mom and pops are going to wish they didn't fight wal mart.

Last edited by al_bundy; 03-29-07 at 12:07 PM.
Old 03-29-07, 11:39 AM
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Originally Posted by al_bundy
almost every restaraunt here no matter what the ethnicity has illegals cooking the food. except for the expensive ones, almost every single one does. most of the bus boys are illegals. even in the big chains like applebees.

wal mart has always given people the option to purchase health insurance, 401k and a host of other benefits. it's also one of the best companies that promotes from within. most of it's managers started out as floor associates.

the only stores better in the benefits department are whole foods, starbucks and costco. but in those cases you pay more or there is no selection so there are savings in other areas to pay the benefits
Thank you. Walmart is the most successful retailer in the world because it's doing things right.
Old 03-29-07, 11:46 AM
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wal mart is the way it is because they cater to the low end of the market. for all the horror stories of it taking over the world, they control no more than 20% - 30% in any market they operate in. their big strategy is cost control and logistics.
Old 03-29-07, 11:50 AM
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Originally Posted by al_bundy
wal mart is the way it is because they cater to the low end of the market. for all the horror stories of it taking over the world, they control no more than 20% - 30% in any market they operate in. their big strategy is cost control and logistics.
Well, this "low end" marketer appreciates it.
Old 03-29-07, 11:56 AM
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Originally Posted by leest3
A company known for employing illegal aliens and underpaying them on a mass level, and treaing them like shit, is not as bad as one mom and pops store hiring some Mexican who just crossed the border. Wal-Mart has benefits now? I've been out of the news lately.
Do you have a link for that? The only illegal aliens I have heard associated with Wal-mart were hired by a custodial service. Also, it seems like when they opened around Detroit, they had something like 20,000 more applications than jobs. And they actually offer health benefits, where most of their competitors don't.

I rarely shop there because I find it a pain, but they do allow poorer people to get more for their money. If I had 5 kids and had to feed and clothe them all, I would be going to Wal-mart instead of some mom and pop stores.
Old 03-29-07, 12:03 PM
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Think of a world without Wal-Mart and other large retailers. What if there were only mom and pop stores? The cost of living would be waaaaaay much higher than it is now.

They sell products at low prices and they pay low wages (at least minimum wage), but they also employee 100k + employees and hopefully give them good health insurance coverage at a reasonable price (I pay $12 a week for HMO coverage by the way) and their low prices keeps inflation down.

Sure, in a perfect world, they would use some of that extra profit to pay their employees better and give them better benefits.

Chris
Old 03-29-07, 12:08 PM
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"Mom and pop" is one of the most misleading terms out there. It's used, obviously, to conjure up the vision of a kindly old couple looking out for the community -- but if you've ever lived in a small town devoid of Walmart and depended on these businesses, it's a very different story.

There is no competition. So mom and pop and jack up the prices to whatever they want. And they offer sub-standard customer service. And crappy hours. And very little selection. Out of stock of something? They have no logistics network...you might have to wait weeks. Jobs? Ha! Maybe for mom and pop themselves, and their kids. Benefits? Almost never.

I fail to see why "Mom and Pop" stores are better than Walmart for anybody in a small community except mom and pop themselves.

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