Wal-Mart is posturing against this proposed “living wage” amendment.
Wal-Mart likes Chicago, but not city's wage plan | Chicago Tribune
A Wal-Mart official said Monday that his firm could be interested in building “10 or 20” stores on city sites during the next five years, but he added that passage of a minimum wage measure by Chicago's City Council could have a chilling effect on the company's plans.
So, let's see, either 10-20 Wal-Mart stores sprout up in Chicago, causing irreparable changes to the character of The Big Spud, beating down the city's economy, destroying established small businesses, etc., or Chicago passes an amendment whereupon entry-level employees of billion dollar companies have to actually receive a slightly above poverty level wage, instead of a poverty level wage. Hmmm, I think I'll go with option B please. Screw Wal-Mart.
Ald. Ricardo Munoz (22nd), who supports the big-box ordinance, said that passage would not change Wal-Mart's plans.“We won't lose them,” he said. “Wal-Mart wants to come into Chicago because they see the market. They see how much is being spent in Chicago proper. They want to be here. They just have to pay a living wage.”
Yes, that's the secret underlying fact: Wal-Mart needs to continue building new stores so Wall Street is happy with revenue growth and related issues, and the rural market is pretty saturated already. In other words, the urban markets are Wal-Mart's only hope at making Wall Street happy.
Tags: Chicago
