2016 Postmortem
Related: About this forum"As a shareholder and director of our company, I’m always proud of Wal-Mart."
"As a shareholder and director of our company, Im always proud of Wal-Mart. These are the words of Hillary Clinton at the companys 1990 stockholder meeting. You might not recognize this version of Clinton because the more recent version has attempted to match Democratic challenger Sen. Bernie Sanders in his disdain for big business. But Clintons record at Wal-Mart should make voters question both the authenticity of her populism as well as the genuineness of her proposed policy solutions.
First, some background. Clinton was a director at Wal-Mart from 1986-1992, a time of rapid growth for the company. From 1986-1991, Wal-Mart created 230,000 jobs, more than any other firm in the country. The company grew quickly because it was wildly profitable and it was wildly profitable because it obsessively managed expenses. Cost management was vital to Walmart because, like most retailers, its profit margin the amount of profit a business makes on each dollar in sales is notoriously thin. For every dollar in sales Walmart makes, the company pockets just about three cents in profit.
Of course, then, as now, Walmarts biggest cost was labor. And to keep labor costs in check, Wal-Mart took pains to make sure its workers didn't unionize. During Clintons tenure, the companys strategy for dealing with organized labor was directed by fellow board member, John Tate. Mr. Tate famously summed up his philosophy at a 2004 managers meeting: "Labor unions are nothing but blood-sucking parasites living off the productive labor of people who work for a living.
According to former board members, Clinton did not denounce the anti-union efforts Tate spearheaded, nor rail for increased employee wages. Donald G. Soderquist, the boards then vice chairman, has said that not only was Clinton not a dissenter, but that she was a part of those decisions. Wal-Marts stock rose by more than 500% during her tenure and Clintons shares were worth nearly $100,000 by 1992.
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http://www.usatoday.com/story/opinion/2016/02/22/hillary-clinton-wal-mart-minimum-wage-layoffs-store-closures-column/80225734/
Blue_Adept
(6,384 posts)This is the same as the whole "she's a goldwater" girl that just makes so many Sanders supporters look like they can't handle context.
But hey, another hour, another target hit from Cali.
cali
(114,904 posts)was on the board for 6 years watching silently. She is a phony.
BernieforPres2016
(3,017 posts)where she never said a word about Wal-Mart's labor practices.
libtodeath
(2,888 posts)Blue_Adept
(6,384 posts)So?
noamnety
(20,234 posts)Early 1980s
Attempt to unionize Wal-Mart distribution center
The attempt to unionize Wal-Mart's Searcy, Ark., distribution center fails; Walton threatens to remove the employees' profit-sharing plan if the union vote passes and warns that he has more than 500 potential employees lined up to take their jobs.
http://www.pbs.org/wgbh/pages/frontline/shows/walmart/transform/cron.html
noamnety
(20,234 posts)December 1992
Made in America?
The NBC television series Dateline airs an investigation into Wal-Mart's "Made in America" and "Bring It Home to the USA" marketing campaigns. The show airs footage of children working in factories in Bangladesh to make clothes destined for Wal-Mart, as well as hidden camera footage of Wal-Mart stores with "Made in America" signs hung over imported goods. The program also profiles a sweater factory in North Carolina that was featured in a Wal-Mart "Buy America" ad but was forced to close when Wal-Mart found a cheaper distributor overseas. Wal-Mart CEO David Glass storms out of the Dateline interview, and according to former Wal-Mart store manager Jon Lehman, the stores are required to remove the "Made in America" signs overnight.
http://www.pbs.org/wgbh/pages/frontline/shows/walmart/transform/cron.html
Mufaddal
(1,021 posts)still rely on sweatshop labor, and still the country's largest gun dealer.
Oh, and her campaign just took $385K from Alice Walton.
BernieforPres2016
(3,017 posts)have got to be exhausting.
How do they live with themselves?
Kip Humphrey
(4,753 posts)that all took off in the '80's. Oh, and yes, Hillary was on board then.
yourpaljoey
(2,166 posts)Bernie better take the gloves off... we got a fight on our hands.
libtodeath
(2,888 posts)NWCorona
(8,541 posts)VulgarPoet
(2,872 posts)GreatGazoo
(3,937 posts)a corporate lawyer sitting on the Board of WalMart (applause)...I was fighting these fights..."
At 0:48 here:
From Obama himself
BernieforPres2016
(3,017 posts)That is a serious smack down, after the Goldwater Girl tried to smear Obama with an out of context clipped quote from Obama on Reagan.
Karmadillo
(9,253 posts)Herman4747
(1,825 posts)According to former board members, Clinton did not denounce the anti-union efforts Tate spearheaded, nor rail for increased employee wages. Donald G. Soderquist, the boards then vice chairman, has said that not only was Clinton not a dissenter, but that she was a part of those decisions. Wal-Marts stock rose by more than 500% during her tenure and Clintons shares were worth nearly $100,000 by 1992.
cali
(114,904 posts)cali
(114,904 posts)<snip>
Associated Press reported in 2006 that Mrs. Clinton was paid $18,000 annually plus $1,500 for each meeting she attended as a board member. The Clintons had $100,000 in Walmart stock, which was put into a blind trust after the 1992 election. The Clintons also flew for free on Wal-Mart corporate planes 14 times in 1990 and 1991, in preparation for Bill Clintons 1992 presidential bid.
<snip>
http://www.progressivepress.net/hillary-clinton-was-a-wal-mart-director-for-6-years/
Snotcicles
(9,089 posts)cali
(114,904 posts)Wilms
(26,795 posts)Octafish
(55,745 posts)GOOGLE Jackson Stephens + BCCI + Walmart for more detail.