File this one under: ‘not buying it’. This week it was reported that five Walmart locations across the US are closing for up to six months due to “plumbing problems“. Some 2,200 employees were fired in the process. Most were notified only hours earlier.
The big box retailer is notorious for running mainstreet American mom-and-pops out of business by operating their massive warehouse-sized stores at a financial loss for years after opening. Once surrounding local competition goes out of business, Walmart jacks their prices back up. Where the hell else in a small town is everyone supposed to shop now?
Walmart is also infamous for lying about their knowledge of working conditions in the Southeast Asian sweatshops they profit from. Just two years ago, a Bangladesh factory that supplies Walmart collapsed, killing some 1,100 workers. Walmart pretended to have no connection to the conditions that lead to this tragedy, until documents proved otherwise.
The invisible hand of the free market: Bangladesh