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Thursday, October 29, 2009

The Wal-Mart Economic Stimulus Plan?

Mark Perry at Carpe Diem reports that Wal-Mart is doing its part to put America back to work, in spite of the government's best efforts.
1. In just a three-week period from October 7-27, Wal-Mart announced the opening of 22 new stores and expansions of existing stores that have added 5,340 new jobs to the local communities in 18 different states.

2. Wal-Mart recently announced Hundreds of Millions of Dollars in Price Reductions, with unprecedented savings each week this Holiday season.

3. Wal-Mart also recently announced that total capital spending for the fiscal year ending Jan. 2010, is projected to be between $12.5 to $13.1 billion, up from $11.5 billion in fiscal year 2009. Total capital spending for the fiscal year ending Jan. 2011 is projected to be $13.0 to $15.0 billion. Note: More than 50% of Wal-Mart's capital spending is for its U.S. operations.
Wal-Mart's relentless efforts to find efficiency in the supply chain, and the pressure its efforts put on other retail outlets, helped fuel America's economic boom in the 1990's. Now, it is leading the recovery through reinvestment and price cuts. Just like in the 90's, politicians will be happy to take credit for the economci growth provided by those greedy corporations they like to attack.

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