WAL-MART: THE HIGH COST LEADER

Columnist Neil Pierce shows how Wal-Mart continues to suck:

Why? First, there's the Supercenter boom. Begun in the early '90s, Supercenter expansions, making Wal-Mart not just America's prime retailer but its prime grocer, are so rapid that in some regions the stores are popping up everywhere. The virtually total geographic coverage of these super-stores suggests disturbing single-firm dominance in the nation's food chain.

Then there's pay. Known for its dead-end jobs, Wal-Mart is clearly dragging down pay and benefits for millions of workers. The company doesn't release figures, but start-up Wal-Mart workers aren't likely to get more than $6.25 to $8 an hour. A big chunk are part-time -- clearly by design -- and an amazing 500,000 quit each year. Nearly half the company's workers make less than $15,300 a year, the federal annual poverty income for a family of three.

Result: Wal-Mart workers must often turn to food stamps, apply for the federal government's Earned Income Tax Credit and turn to states for child support payments. Wal-Mart gets to "sell for less" because it shifts the costs to all taxpayers. When you buy for less at Wal-Mart, you're paying: It's just a question of out of which pocket.

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Thanks to my buddy, Kevin, for the link.

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