Friday, August 23, 2013
Walmart is even worse than you think
This year, Walmart is back with a new "Buy America" program. In January, the company announced that it would purchase an additional $50 billion worth of domestic goods over the next decade. This week, Walmart is convening several hundred suppliers, along with a handful of governors, for a summit on U.S. manufacturing .
This sounds pretty substantial, but in fact it's just a more sophisticated and media savvy version of Walmart's hollow 1980s Buy America campaign. For starters, $50 billion over a decade may sound huge at first, but measured against Walmart's galactic size, it's not. An additional $5 billion a year amounts to only 1.5 percent of what Walmart currently spends on inventory. Read more >>