Washington D.C.'s city council recently passed a "living wage" measure and, in the process, may have cost 4,000 folks a job. That is if Wal-Mart, as it threatens, cancels its plan to build 3 new stores. Make that 8,000 folks if it decides to forgo opening 3 other stores currently under construction.
Letter to a Washington D.C. city councilman:
Councilmember Vincent Orange
1350 Pennsylvania Avenue NW
Washington, D.C. 20004
Dear Mr. Orange,
You were recently quoted in the New York Times---with regard to Wal-Mart's net income and pay scale---as follows:
“Their net income was $17 billion,” said Vincent Orange, a city councilman who voted for the ordinance. “You don’t want to share a little bit with the citizens? Come on.”
Come on Mr. Orange, this is not rocket science. Wal-Mart's net income was $17 billion precisely because it is bringing great value to the citizens. How about we let the citizens of your great city decide whether Wal-Mart is generous enough: Let's see just how many folks apply for those jobs at the wage Wal-Mart offers, and how many shoppers take advantage of those low-priced goods.
Make no mistake sir, should Wal-Mart choose to place a store under a $12.50 per hour wage regime, it'll take whatever measures necessary to maintain its profit margin (at the expense of the customer and, yes, the employee)---a margin that had once inspired it to consider opening 6 new stores in your area.
Private Wealth Advisors
7447 N. First Street
Fresno, Ca 93720