Walmart is here to stay
We should accept the fact. The addition of the second Walmart in Carson Valley is a reality. It is not going away any time soon. However, at least recognize it for what it is instead of the propaganda much of which comes from some of the recent letters to the editor.
According to Fortune 500 Walmart is the largest private corporate employer in the world and the largest grocery outlet in the United States.
Although traded on the New York Stock Exchange the Walton family still owns over 50% of it stock. It is privately owned and profits go to the family.
At Bentonville Arkansas headquarters, where store policies are set, of their 8,500 stores they know little to nothing of this valley. The powers that be at Walmart are not members of the community.
Walmart’s income does not come from a small profit on large volume. In 2011 of every $4 in gross revenue nearly $1 (24.7%) was profit. The annual return on their total assets was a whopping 57%.
Again, in 2011 their $312.8 billion in U.S. sales on a population pro-rata basis amounted to over $2¾ billion in the State of Nevada. The Walmart Nevada charitable donations reported by their Gardnerville store manager amounts to less than ½ of 1% of their 2010 Nevada receipts. The $11.3 million is a large number but a paltry percentage of profits in their attempts to purchase customer good will.
While not the sole contributing factor such a behemoth undeniably, definitely, contributes significantly to the demise of smaller businesses. Coexistence with surviving stores does not diminish this. The president and CEO of Walmart, in September reported that over half of their U.S. employees are paid less than $25,000 a year. How many living wage jobs are being replaced by ones near or below poverty level?
There are those who claim fundamental college business courses validate or sanction the idea that businesses which simply do not maximize their profits to the extent of others are deserving of being replaced. This ignores the entirety of the college experience. The disciplines of Sociology, Economics, Political Science, Ethics, et al. are much concerned with the equitable distribution of goods and wealth without being solely dedicated to an overriding all encompassing maximum profit motive.
Once again, Walmart is here and we might as well accept it. If blame is sought for the addition and consequence of the second Walmart then look to those involved in county planning and permits.