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Walmart Targets Unhappy Bank Customers With New Prepaid Card--Should Big Banks Be Nervous?
Forbes ^ | 08 Oct 2012 | Halah Touryalai

Posted on 10/09/2012 8:54:11 PM PDT by TArcher

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To: sickoflibs
They pay me cash back for using the card

They are able to do this because the merchant pays higher fees when they process a transaction using a 'rewards' card. These fees are passed on to the consumer with higher prices.

51 posted on 10/11/2012 7:15:45 AM PDT by bankwalker (In the land of the blind, the one-eyed man is king.)
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To: Chickensoup

I won’t pay $2.29 for Tabasco sauce at Albertsons when a better store sells it for 99 cents, and doesn’t feed the corrupt union political machine with what amounts to your political donation.

You despise WalMart, and I despise Albertsons.

I can see the corruption and theft of Albertsons when I enter the store, I see it in their complicated use of odd numbers and pricing to baffle the person attempting to buy in quantity, I see it in the 100% and 200% mark-ups on everyday items like Oscar Meyer wieners and Tabasco sauce, and pasta and rice, and Betty Crocker brownie mix.

I am not here to subsidize Albertsons and Safeway and to fight against them having to face the market forces that my business does.


52 posted on 10/11/2012 12:55:32 PM PDT by ansel12
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To: TArcher

Walmart is the biggest and best company in America.

They teamed with American Express to out flank the banks and take care of their customers. The card is a letter of credit and is form of the ancient device writ modern

Remember...... in the current century, all money is actually blips on an electronic ledger. The card is a blip containment device


53 posted on 10/11/2012 1:03:00 PM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: TArcher

Except in the far hinderlands, mom and pop stores are archaic relics, obsolete.

Even in the walmartless extreme boondocks, mom and pop are out gunned and outclassed by Dollar and Dollar general stores.

The Yankeeland union dominated Walmartless cities are all failing anyway. There is no need to try to fight a strong outgoing tide of political ideology


54 posted on 10/11/2012 1:10:53 PM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: Lazamataz; TArcher

TArcher and his hate of my favorite grocery store seems a little extreme (lol).

One of the problems of the internet is when you are casually posting a response in what looks like a normal exchange, and then too late you realize that the stranger you just posted to is one of those wide-eyed, screaming fanatics on some weird cause, a true believer in the ONLY SINGLE TOPIC IN THE UNIVERSE, IT IS A CONSPIRACY, ALL COMMUNICATIONS WILL NOW BE SHOUTED AT YOU, YOU!!!!!!!!, A NON-BELIEVER!!!!!!YOU MAY EVEN BE PART OF THE CONSPIRACY!!!!!ABOUT THE ONE SUBJECT THAT THE SURVIVAL OF THE HUMAN RACE DEPENDS ON!!!!!


55 posted on 10/11/2012 1:14:37 PM PDT by ansel12
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To: ansel12
I think he's a retread that also had a big argument with you.

You and I have had words, but it's like brothers who fight, in a family. Someone comes from outside the family and we are all shoulder to shoulder against them.

In short, you're a jerk, but you are OUR jerk. :)

56 posted on 10/11/2012 1:29:38 PM PDT by Lazamataz (WAAAAAAAAAHHHhhhhh.....)
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To: ansel12; TArcher
Oh, and ansel, note that TArcher hasn't responded to my dissection of his utterly flawed argument.

So like a troll.

57 posted on 10/11/2012 1:49:14 PM PDT by Lazamataz (WAAAAAAAAAHHHhhhhh.....)
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To: ansel12

You despise WalMart, and I despise Albertsons.

___________________

I dont despise anything. We do not have union workers in our stores here and the markeups are not that bad. And the quality is as good and usually better.


58 posted on 10/11/2012 3:59:22 PM PDT by Chickensoup (STOP The Great O-ppression)
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To: Chickensoup

Where do you live that stores don’t have unions?

By the way, many millions of us live in major cities where WalMart is not allowed to sell groceries to us.


59 posted on 10/11/2012 4:02:26 PM PDT by ansel12
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To: Lazamataz

>>there is ZERO indication Dodd-Frank was aimed at Walmart.

“Specifically, retail stores, led by Wal-Mart and Home Depot, spent more than $40 million in 2010 employing 411 lobbyists. In addition, their employees, lobbyists and PACs donated millions of dollars to key lawmakers.”
http://dailycaller.com/2011/03/29/dick-durbins-cozy-alliance-with-wal-mart-home-depot-and-the-giant-retail-lobby/

What were those $40 million and 411 lobbyists “aimed” at?

 


60 posted on 10/11/2012 7:16:56 PM PDT by TArcher
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To: bert

Except in the far hinderlands, mom and pop stores are archaic relics, obsolete.

Small businesses are archaic relics, obsolete?

“Firms with 1 to 4 employees (or with no employees as of Mar 12) 3,617,764 3,624,614 6,086,291 232,062,907 n/a”
http://www.census.gov/econ/smallbus.html

Evidently not, Bert.


61 posted on 10/11/2012 7:30:26 PM PDT by TArcher
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To: KingofZion

>>I guess there’s now a special card for them.

Special card not covered by the special rules that Walmart lobbied for everybody else (including the small community banks and credit unions they’re helping the big banks to destroy) — ala the Durbin Amendment of the Dodd-Frank act.

http://dailycaller.com/2011/03/29/dick-durbins-cozy-alliance-with-wal-mart-home-depot-and-the-giant-retail-lobby/


62 posted on 10/11/2012 7:41:09 PM PDT by TArcher
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To: ansel12

major cities where WalMart is not allowed to sell groceries to us.

Interesting. What about CostCo? We like to buy in bulk from them.

I used to occasionally buy things at Walmart because they were near by and convenient; but my family's patronage of them ended when Walmart Lobbied for the Dodd-Frank/Durbin (D) treachery.

I also prefer Chik Filet over McDonalds because I believe in putting my patronage and $$ where my beliefs are.

I don't shop at Home Depot, either.     I like Lowes because they havn't bent over for the homosexualists.

 


63 posted on 10/11/2012 7:54:04 PM PDT by TArcher
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To: TArcher

Costco is leftwing, I’m not aware of any city that blocks them, or any media or leftists that attack them.

I do love Walmart though, they are the working man’s store, great prices and savings for the family.

I hope they can take on the banks and save me some money and give me better service than the hostile banks do.


64 posted on 10/11/2012 8:06:47 PM PDT by ansel12
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To: ansel12; EternalVigilance

Costco is leftwing, I’m not aware of any city that blocks them, or any media or leftists that attack them.

"Costco: Message boy for the rabid right"
http://www.oregonlive.com/news/oregonian/steve_duin/index.ssf/2012/08/costco_bookmobile_for_the_rabi.html

YMMV I guess.

>>I hope they can take on the banks

I hear you.  But unfortunately the (D) Dodd-Frank/Durbin legislation Walmart supported and lobbied for  is having the greatest effect upon the small community banks and credit unions -- not upon the Too Big To fail TARPed-over scum bags we'd ALL like to see brought to justice.


65 posted on 10/11/2012 8:26:40 PM PDT by TArcher
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To: bankwalker; TexasKamaAina; Styria
RE :”They pay me cash back for using the card”
...
“They are able to do this because the merchant pays higher fees when they process a transaction using a ‘rewards’ card. These fees are passed on to the consumer with higher prices”

Yes, they charge ALL consumers higher prices to pay the CC fees of which I get a nice cut of, including those suckers who pay cash, checks and debit cards.
So those of us who are smart enough to use CCs are being paid by the suckers, and CCs are well protected against fraud and super convenient. Its a win-win-win

Occasionally a merchant wont take CCs or they charge a CC fee. But most take them for free because they are good for their business.

66 posted on 10/11/2012 9:00:51 PM PDT by sickoflibs (Romney is still a liberal. Just watch him. (Obama-ney Care ))
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To: TArcher; ansel12

Well, when called on ‘stupid’, you just double-down like Obama, don’t you?

EVERY large business employs lobbyists.

You have still NOT demonstrated that Dodd-Frank was IN ANY WAY aimed at WalMart.

All you have done is wave your hands even more frantically, desperately trying to connect WalMart to this legislation.

Yet any store can easily do what they did. They are business-savvy. They are smart capitalists.

Clearly you are not.

You are only a troll. Tell me, when you are banned, and make no mistake, you will be — tell me, when you retread, will you come seek me out, as you have ansel12?

I hope you do.


67 posted on 10/11/2012 10:50:56 PM PDT by Lazamataz (WAAAAAAAAAHHHhhhhh.....)
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To: Lazamataz

>>EVERY large business employs lobbyists.

Is that conservative or just bidness as usual in the post-modern Amerikan CCCompany Store?

Your retort is reminiscent of the attitude of students described to me in a conversation I had with a physics professor from UCI a few years ago whilst we were serving on a jury together. He was flabbergasted at the amount of sophisticated cheating he observed among today’s students; and he told of how they blew off the amoral nature of what they were doing ala rationalizations such as “everybody does it” and “that’s what you have to do to compete”... and “EVERY large business employs lobbyists”.

“COMMERCE BETWEEN MASTER AND SLAVE IS [still] DESPOTISM”
—Thomas Jefferson

The purpose of American governance is to secure the inalienable rights of the governed against the predatory nature of those who would enslave them via the tyranny of their own appetites — NOT to facilitate their enslavement ala such atrocities as the Dodd-Frank/Durbin legislation.


68 posted on 10/12/2012 7:06:15 AM PDT by TArcher
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To: TArcher; ansel12
You are an outright loon.

First of all, having someone lobby for your cause is not 'cheating'. It is done in all venues in politics, and if you had even spent the SLIGHTEST amount of effort, you would have discovered that this nation's first lobbyist was William Hull, hired by Virginia veterans of the Continental Army... IN 1792!

And you skate right past the clear and deliniated examples I pointed out of your fact-free insinuations and baseless smearing, and your feeble attempts to create non-sequitur relationships -- preferring to NOT defend your points, but instead move on to a new one. You remain a troll.

In fact, If you threw in some weird chuckling and eerie guffawing, Free Republic might understandably mistake you for Joe Biden.

69 posted on 10/12/2012 7:18:27 AM PDT by Lazamataz (WAAAAAAAAAHHHhhhhh.....)
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To: Lazamataz

Is lobbying for legislation by (D)urbin, Fwank(D), and (D)odd, conservative?


70 posted on 10/12/2012 3:30:27 PM PDT by TArcher
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To: TArcher; ansel12
Is lobbying for legislation by (D)urbin, Fwank(D), and (D)odd, conservative?

You know what, troll? I was going to leave you be. Let you cut your own throat. Nope. I am on you now. I will absolutely work to see you banned.

Do you know why? Because you never answer my questions. You never address my points. You just move on to a new question.

I could easily answer, and dismiss this one. I will not. You refuse to answer me, I refuse to answer you.

You are Joe Biden in text form.

I will have your heart over my mantle.

71 posted on 10/12/2012 3:47:55 PM PDT by Lazamataz (WAAAAAAAAAHHHhhhhh.....)
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To: TArcher
The best thing that could happen to everybody in this country would be for WalMart to enter the retail banking business.

From my lips to God's ears.

72 posted on 10/12/2012 3:57:44 PM PDT by elkfersupper ( Member of the Original Defiant Class)
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To: Lazamataz

>>Because you never answer my questions.

Q: “WHO CARES if the Chinese are left or right?”
A: “Evidently none of the Quislings doing business with the Communist oligarchs in the CPC Central Committee.”

Next?


73 posted on 10/12/2012 4:07:33 PM PDT by TArcher
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To: TArcher; ansel12
Good. Progress. Next questions:

1) Show me solid evidence, per your inference, that Walmart actually lobbied on the Dodd-Frank bill, and if so (I doubt), describe the nature of their desired outcome.

2) Show me solid evidence, per your inference, that Dodd-Frank was targeted at WalMart, either to their benefit or to inure to their detriment (in violation of the Bill of Attainder restriction lawmakers must labor under).

I'll wait.

74 posted on 10/13/2012 6:46:16 AM PDT by Lazamataz (WAAAAAAAAAHHHhhhhh.....)
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To: Lazamataz

“Specifically, retail stores, led by Wal-Mart and Home Depot, spent more than $40 million in 2010 employing 411 lobbyists. In addition, their employees, lobbyists and PACs donated millions of dollars to key lawmakers.”
http://dailycaller.com/2011/03/29/dick-durbins-cozy-alliance-with-wal-mart-home-depot-and-the-giant-retail-lobby/

http://www.google.com/#hl=en&sclient=psy-ab&q=walmart%2Bdurbin+amendment

Does Walmart deny their support of the (D)urbin amendment?


75 posted on 10/13/2012 9:09:49 AM PDT by TArcher
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To: Lazamataz

“The controls are the result of the Durbin amendment to last year’s Dodd-Frank financial reform legislation. They were enacted at the behest of big-box retailers such as Wal-Mart and Walgreen’s, which stand to gain a multimillion-dollar windfall....”
http://online.wsj.com/article/SB10001424052970204831304576597173130633798.html

Etc.

http://www.google.com/#hl=en&sclient=psy-ab&q=wal-mart+durbin+site:online.wsj.com

Etc.

http://www.google.com/#hl=en&sclient=psy-ab&q=walmart+durbin+site:www.forbes.com

 

 

“...Saint Peter don’t you call me ‘cause I can’t go... I owe my soul to the Company Store..."
http://www.youtube.com/watch?v=bUKXxGoXR9I&feature=related

76 posted on 10/13/2012 11:45:08 AM PDT by TArcher
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To: TArcher; ansel12

I give you credit for supporting your claims. This is rare among trolls, so I must conclude that you are not a troll.

I have a serious problem with Walmart trying to create unfair advantages like this. Nonetheless, the good they do, to my mind, outweighs the negative.

Now, to answer your question: Are such actions Right-leaning, or Left-leaning? The answer is: Neither. These actions are Corporatist. A corporation will attempt to survive in any free market or socialist political environment, in any way it can. Obviously, a corporation cannot survive a communist environment, but we are not a communist environment.


77 posted on 10/15/2012 5:39:08 AM PDT by Lazamataz (WAAAAAAAAAHHHhhhhh.....)
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To: Lazamataz

———These actions are Corporatist.——

Corporatist, that’s a trifle harsh. There is a better term.

The term is entrepreneurial. The spirit of the entrepreneur is alive and well within Walmart as they continue to plow new ground and grow their business.


78 posted on 10/15/2012 5:58:38 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: bert; TArcher

I hear you on the ‘harshness’ of the comment, but I meant it to be harsh. Walmart clearly lobbied for an unfair advantage. That’s not entrepreneurial, brother bert, that’s Corporatist.


79 posted on 10/15/2012 6:00:52 AM PDT by Lazamataz (WAAAAAAAAAHHHhhhhh.....)
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To: TArcher

It’s like a big chess game. ;-)

BTW, if you have bad credit it is difficult to get a checking account even if you have a job. Those people will jump at this.

I suspect the “check cashing” places will get hammered by this. The poorer you are, the more credit costs you. And you drive a beater car that nickels and dimes you.

I’ve said for years that it is very expensive to be poor in the US. Wal-Mart and Amex just made it cheaper.


80 posted on 10/15/2012 6:12:52 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: Lazamataz
 

>>I must conclude that you are not a troll.
Thanks FRiend.
>>These actions are Corporatist.
The word Corporate refers to multiple individuals acting together as one body.
 
Corporate Worship, for example, means many members worshiping as one:
In America such worship is a voluntary association formed among free Individuals.
 
Communism is another form of collective incorporation - typically manifested via the power of state mandate; and is not so voluntary.
 
Observe how the Soviet Union had to build a wall to keep its collective members inside the corporate/communist State body. Securing the inalienable rights of the governed was not the objective of the Soviets, and is clearly not the forte of the Communist Chinese.
>>the good they do, to my mind, outweighs the negative.
I suppose if we put the best construction on the relationship between Corporat(ist) America and Communist China - we might think of it as a means of manifesting this:

http://www.google.com/#hl=en&sclient=psy-ab&q=Nixon+%22A+structure+of+peace

Nothing wrong with that - as long as we don't become what our Collectivist/Communist/Corporatist Cold-War enemies were, and in the process of achieving it throw out the American baby...

"TO SECURE THESE RIGHTS, governments are instituted among men..."

...along with the bath water and/or the Baath party. ;-}

81 posted on 10/15/2012 8:45:11 PM PDT by TArcher
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To: TexasKamaAina

Is the Chase card a Visa or a Mastercard or something else?


82 posted on 10/15/2012 8:58:39 PM PDT by freedomlover
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To: freedomlover

Mastercard


83 posted on 10/15/2012 9:09:56 PM PDT by TexasKamaAina
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To: TexasKamaAina

Thanks will have to look at it. I make a lot of cc charges and pay off automatically every mo


84 posted on 10/15/2012 9:13:32 PM PDT by freedomlover
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