A friend of mine was a regional manager for Wal-Mart and told me that they actually kept pictures of their competition on a bulletin board and crossed them out as they drove them out of business. Then they would increase prices. They work just like drug pushers, and when you are hooked, they close the local store to make you travel further to go to a regional superstore!
The biggest problem in the last 20 years is lack of enforcement of antitrust legislation that is already on the books.
Amazon, like Walmart and Sam's Club, sold the books to the public cheaper than the publishers would sell them to us. I have heard horror stories from publishers who were put out of business by Amazon & Wal-Mart. They would place huge book orders and get 90 day dating on the invoice, with full credit on returns. As the 90 grace period was expiring, they would place a second order as though they were replenishing stock, (this too with 90 day dating). And then return most of the first order for credit against the first invoice so they didn't have to pay it. This really screwed up the publishing industry and put many of them out of business.
Amazon screwed investors when they started by capitalizing marketing expenses as they gained market share by selling their books at or below their cost. Thus they showed phony profits to make their stock go up.
Some towns have actually prevented Wally World from opening up. For the longest time, they have been trying to get into Davis, CA but the city refuses to allow them to build and open. Davis also has a very vibrant downtown as well with many unique businesses. Also I think Wal Mart has not been able to get into any of the CA Bay Area tons either.
I have family in Jackson OH and they have a Super Wal-Mart. However, if you go into downtown Jackson, not much there though. There is not much choice for shopping there.
> A friend of mine was a regional manager for Wal-Mart and told me that they actually kept pictures of their competition on a bulletin board and crossed them out as they drove them out of business. Then they would increase prices. They work just like drug pushers, and when you are hooked, they close the local store to make you travel further to go to a regional superstore!