Posted on 05/12/2005 8:08:27 AM PDT by TXBSAFH
Wal-Mart profit misses forecast; outlook weak
CHICAGO (Reuters) - Wal-Mart Stores Inc. on Thursday reported a weaker-than-expected profit and said second-quarter results would miss Wall Street forecasts as steep energy prices and cool, wet weather cut spring sales.
Shares of Wal-Mart, which said gasoline prices would continue to curb consumer spending in the current quarter, fell 4 percent in premarket trading. The world's biggest retailer said it expects trends to improve in the second half and remained optimistic about the U.S. economy.
"Our results were not up to Wal-Mart standards," Chief Executive Officer Lee Scott said on a recorded message, citing steep oil prices and unusually cool, wet weather in parts of the United States.
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(Excerpt) Read more at cnn.netscape.cnn.com ...
There seems to be a certain undercurrent of incivility on this thread. Please be careful everyone. You all know the rules.
LOL!
I notice you're very quiet when I point out that you are a bald-faced liar who is telling deliberate falsehoods about Chinese currency policy. That doesn't bother you.
But when someone criticizes your atrocious grammar and spelling, then you get huffy.
BTW, it's "last resort."
LOL!
China is not floating the yuan.
You lied.
I highlighted the comment from the article to a.) show everyone how stupid you are dbag
LOL!
You said that China is currently floating the yuan.
I pointed out that you were lying.
I would be stupid to believe your lies, not to refute them.
b.) not make everyone have to read through the entire post, because from what I have read so far, no one reads anyway.
We've read your stupid comments and we're responding.
Again, you're a liar and you should admit it.
China is a communist country. It cannot have a middle class.
Well said. When the levers of capital are in the hands of an oligarchy you move away from a meritocracy based on competition towards a society where only apparatchniki-style adherence to the "Party", its dogma and personalities, matters. No wonder the USSR folded.
Lazy, corrupt union thugs put manufacturing companies out of business.
Unions must die. Die, unions, die. Die, die, die.
And you know what? They are dying! Hooray!
The only thing that is obvious is that you joined on May 9 and you have no idea what you are talking about.
Ironfang in post
"Below link points to CATO.org, a conservative group, that even acknowledges the Yuan is pegged to the dollar."
Maybe instead of debating you we should just let your continue rambling on until you finish rebutting all of your own points? :)
What cracks me up most is all the bashing over made-in-China products. IIRC some figures released last year showed that about 5% of their revenue was spent in China which begs the question of where the other 95% is being spent.
Another interesting observation I've made over the last year- Wal-Mart in Canada sells more Canadian-made merchandise than their biggest competitor (which happens to be Canadian-owned).
Check out the above. Hilarious.
It has grindingly poor people, and it also has relatively affluent people. Plus some very, very rich people. Mao wouldn't approve. China's middle class (the affluent ones) live disproportionately in the coastal provinces.
I don't think China is handling the wealthing of its society terribly safely though. I'm guessing here but given the lack of devolved power in China, there might really be a rising under a second Mao, and a confiscatory grab/bloody revolution by the impoverished internal provinces of China. Much more likely is the continuation of the current de facto separation between the coastal provinces and landlocked China, policed by the Red Army - and then a formal separation into Nu-China and Poor-China in a decade or so. IMO
Not only are you channeling Walter Reuther like a really good little thug, you act like a presumptuous prick, too. Great combination.
Last year they sold $288 billion. Their profit was $10 billion.
Because Taiwan's industrial revolution took place a couple of decades sooner than China's. The truth is that it is now China's turn to experience cheap-labour growth now that Japan, Hong Kong, Taiwan and South Korea have a strong middle class.
AAARGHHHH! LOL!
You said that China is floating the currency.
Now you admit that China pegs the yuan and does not float it!
Do you really not understand the difference between a pegged and a floated currency?
Do you really think that pegging and floating, which are diametric opposites, are the same thing?
Thanks for embarrassing yourself so totally and admitting to the thread that you know absolutely nothing about economics.
What ever happened to the idea of buying well-constructed, classic, timeless items, having less stuff, that lasted longer, and rewarding craftsmanship? I'd rather have one really beautiful ______ (name your item) than have 3 pieces of junk...
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