National Bank of Wal-Mart?

http://moneycentral.msn.com/content/Banking/Betterbanking/P109171.asp?GT1=6235

[TomGuy]

They are already on their way with banking in 3 states...

http://www.arvest.com/banking/

[TomGuy]

Walmart has a smaller, modest head office located in a more rural setting

You drive by their main office building in Bentonville and you wouldn't believe the world operation is centered there, from the small size. Of course, they have operational centers and facilities elsewhere. But still, the big decisions are made in Bentonville, AR.

[TomGuy]

I heard the 2010 Wal-Mart 3/4 ton truck is going to beat out the Silverado though.

You jest, but guess who owns the world's 25th largest airline. Big W. For their corporate travel, mostly, but they have to move allot of execs around.

They are into allot of different businesses, and that involvement goes unnoticed.

[dfwddr]

Wal-Mart's relentless push for ever-lower prices has revolutionized retailing and is sometimes even credited for helping to keep U.S. inflation low.

I think there is some truth to this.

The retailer's vehement anti-union stance.....should give anyone pause.

This is a problem how ???? You have a successful business model, that has done it all without unions , and the costs surrounding them, and I am suppose to "pause" ???

I don't shop at Wal-Mart, but you have to respect their success as a business.

[80sReaganite]

I was in a Super Wal-Mart a month ago and got a real dose of Americana...

There, a couple of people behind me in line, was a guy who sort of looked like a skinny "Larry the Cable Guy" with grease up to his elbows, filthy ball cap on, 4 day growth of stubble on his face, a greasy tee shirt (sans sleeves), shorts to match, those yellow leather work boots (untied) and the obligatory chew in his mouth and what was he buying?

Well, a bouquet of flowers and a little white lacy teddy with garters....

I could only shake my head and laugh......

[GSlob]

Were your Nordstrom socks kevlar or maybe chain-mail, so they would never wear through? At that price I would expect nothing less.

[Alcibiades]

I agree that we should have more companies like walmart that emphasize efficiency. I'm just not sure we want all companies to be walmart. I have worked in a small bank and they most assuredly do not have huge profits. Sooner or later Walmart will need to be busted up like Standard Oil and Ma Bell.

[KurtAZ]

Well...I do wish they would treat their employees better. With that type of money behind them and a significant workforce, you think they could at least offer mediocre health insurance.

I guess anything to keep the overhead down though...

[Kevin OMalley]

bump for later reading, gotta keep my eye on this one...

[dfwddr]

Well...I do wish they would treat their employees better. With that type of money behind them and a significant workforce, you think they could at least offer mediocre health insurance.

I'm not really sure how they treat their employees, but a girl that works PT for me works FT for the local Wal-mart, and needed to take a LOA for Nov. & Dec., because that was "her season". She dosen't complain, but who knows....

[dfwddr]

Well...I do wish they would treat their employees better. With that type of money behind them and a significant workforce, you think they could at least offer mediocre health insurance.

I'm not really sure how they treat their employees, but a girl that works PT for me works FT for the local Wal-mart, and needed to take a LOA for Nov. & Dec., because that was "her season". She doesn't complain, but who knows....

[Who dat?]

Were your Nordstrom socks kevlar or maybe chain-mail, so they would never wear through? At that price I would expect nothing less.

They were expensive, they had a diagonal plaid pattern, they were sort of like a heavy duty, thick panty hose material – a stretchy almost see-thru material.

They were also just about the cheapest thing in the store. I looked at ties, but they exceeded the value of the gift certificate – in some cases by a LOT.

Shirts exceeded the gift certificates value too.

They never wore through though… at this point I don’t remember ever wearing them. I still have them. They’re nice socks. They just don’t “go” with jeans or khakis and hiking boots.

If I had it to do again I’d probably give the gift certificate to someone that actually shopped there, though they might be snooty enough to not take it. I bet I could find someone that would take it though – and enjoy it more than I did.

[Fledermaus]

Wal-Mart has a reputation for squeezing out Mom-and-Pop stores and other low-margin businesses, like unionized grocers.

Only by left wing idiots, economic morons and fools in the press.

[bert]

Direct deposit to Walmart account. Get issued a Walmart Debit card offering X% discount on Walmart purchases .

Everything becomes much cheaper and yes.....all your money belongs to us.

Brilliant.

[Ibredd]

Yes I rcall a song where the last words were "and I owe my soul to the company store.

[Who dat?]

Oh, I forgot – the change (~$18, IIRC) I spent at the Dano’s (?) BBQ Express in San Leandro CA. Spent it over three orders and enjoyed them greatly, so it wasn’t a complete loss…

[Balding_Eagle]

Ironically, genious is really spelled genius!

[ran15]

I think if Walmart were to start using political influence to shut down competition like standard oil was doing, it would have to be broken up.

And Ma Bell was a regulated monopoly to begin with, so that had to change.

"I have worked in a small bank and they most assuredly do not have huge profits."

Profits aren't really the issue for most companies imo. Its out of control bureaucracy. Like they will have 6 people making 120k a year, having endless meetings on things they have no real world experience with. Whereas Walmart has managed so far to avoid the bureaucracy, and give its management on the front lines more power.

Which a small bank usually doesn't have problems with bureaucracy. I know I now go to a small bank, and am very happy with the customer service, all the products and financial services they offer, and prices.

[ran15]

"Well...I do wish they would treat their employees better."

I think they just go with market forces, paying what people will work for. Each year 42% of Walmart's staff quits. Many use it to get back on their feet and then go into a college program of some sort. And 75% of the management at Walmart is former associates. So career advancement is a real possibility.

However I think we will see the economy and greater world increasingly move to the free market model of labor. Breaking up powerful unions which right now are essentially extorting the average person.

For example you need electricity and you need sewage to your house. The worker's at Walmart competing in the free market, have no choice but to pay the lavish salaries and benefits of these union workers. Whereas those union workers can chooe where to shop, and choose the lowest cost store.

Another factor is the overgrown bureaucracy in so many fields. As those get taken out by the companies which streamline their management structure it will bring the cost of everything down.

One other thing Walmart does is it is giving stock to all of its employees. So as Walmart makes money they are making dividends. Which I think is an important part of transitioning to an 'ownership society'.

[KurtAZ]

But in the meantime....if the PT checker on 4 gets pregnant out of wedlock, who is paying the $5000+ for that baby to be born? Just saying that you would think they could provide SOME sort of health benefit to the associates.

I know no other business provides health coverage to PT employees, but if WalMart is such a driving force to the American Economy like you guys are touting...eh, doesn't really matter. They are not going to do anything about it, it would hurt the bottom line.