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Monday, December 29, 2003
They work hard for the money...
The people that work at Wal-Mart that is, not the Wal-Mart heirs who last worked hard when they were the fastest swimming Sam-sperm in the Helen Walton love canal:
When the Forbes 400 began in 1982, there were 13 billionaires, and five of them were oilman H. L. Hunt's children. Today there are 262 billionaires and four of them are Wal-Mart founder Sam Walton's children. Including Sam's widow, Helen, the Waltons hold ranks four through eight on the Forbes 400, with $20.5 billion each.
The Walton's combined $102.5 billion – up from $94 billion in 2002 – nearly matches the wealth of the three richest men: Microsoft co-founders Bill Gates ($46 billion) and Paul Allen ($22 billion) and megainvestor Warren Buffett ($36 billion).
The Walton's $8.5 billion wealth gain in the past year is more than the total budget for Head Start, serving nearly 1 million children.
While the Wal-Mart heirs are among America's richest, Wal-Mart workers are among America's poorest.
Wal-Mart's U.S. workers – most without health benefits – average just $8 an hour, compared with $12 in retail trade generally. Wal-Mart's average wage is lower than the 1968 minimum wage of $8.51, adjusted for inflation. Now the world's largest company, Wal-Mart is rolling back wages in the growing areas it dominates from America to China.
Funny. They never mention that in any of their commercials....
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