Wal-Mart And Communism (WMT)
The Wall Street Journal does not like the Chinese Communist party setting up a branch for Wal-Mart employees, especially after putting a union in place for the big retailers "associates" We don’t like it either. As the Journal points out…
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The Wall Street Journal does not like the Chinese Communist party setting up a branch for Wal-Mart employees, especially after putting a union in place for the big retailers "associates" We don’t like it either. As the Journal points out the Chinese position may be: We’re watching you from outside, and inside.
Whether Wal-Mart was consulted in the matter is anyone’s guess.
What is not a guess is that having the government mess in your business in a totalitarian country is never good news. And, Wal-Mart’s growth problems in the US make aggressive expansion into China critical to the company’s future.
No one should be surprised if the Chinese government gets more concerned as Wal-Mart gets larger. It may not be good for local merchants. And, what if the goverment thinks Wal-Mart does not pay its people enough. The party and the union could strike the big retailer and have a good deal of leverage.
The chances of a train wreck at Wal-Mart’s China operation get bigger by the month.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
Contact [email protected] for any questions or corrections.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
