Chances are you missed this particular bargain on Black Friday: Agree to spend 15 cents more on every shopping trip, and Walmart, Target, and other large retailers will agree to pay their workers at least $25,000 a year.
Today’s prolonged economic slump is fundamentally different from an ordinary recession. In the aftermath of a severe financial collapse, an economy is at risk of succumbing to a prolonged deflationary undertow. With asset prices reduced, the financial system damaged, unemployment high, consumer demand depressed, and businesses reluctant to invest, the economy gets stuck well below its full employment potential.
New Mexico’s current political leadership is undoing state and regional policies to reduce greenhouse gas emissions even as the risks posed by global warming to the state’s economy and population become more evident.[1] Experts foresee even more difficult problems in the future unless steps are taken to stabilize the climate. Some of the challenges New Mexico faces include:
Chicago’s infrastructure is in need of a major upgrade, but so are are its dwindling finances. Mayor Rahm Emanuel doesn't want to raise taxes, nor look towards Washington, D.C. or Springfield to cover the costs of repairing and upgrading the city's infrastructure.
On a talk show this past Sunday, Walmart worker Greg Fletcher spoke about the realities of struggling to provide for his family on the company's infamous low wages. David Frum, a conservative columnist atNewsweek, pointedly asked Greg whether he got the Earned Income Tax Credit, a tax refund meant to supplement the earnings of low-wage workers.
“Black Friday” sales are debt traps for people to rush out and buy on credit.
But we can fix this on both the wage and profit ends of the continuum. It’s not that complex a fix, but it requires seeing our country as a whole, as one people who rise and fall together.
We can fix this whole mess and have something for which we could really give thanks, if we just paid workers a little more.
Walmart has been on something of a charm offensive where the public is concerned (and anintimidation offensive where its workers are concerned), hoping to blunt the impact of the Black Friday rebellion.
"Everyone is part-timed to death at these stores," Walton said. "When they sign up for these shifts, it's 'I don't get enough hours, I'm dying for hours, so I'll work these shifts.' Until we do something to stop the part-timing of the workforce, we're going to see this happen."
"Workers want to stop this before it becomes an absolute standard to work on Thanksgiving," Walton added.
FORTUNE -- Thousands of Wal-Mart employees won't be pushing away from the Thanksgiving meal today to visit with family, watch football, or even clean the dishes. Instead, they'll be heading to work to welcome bargain-hunting shoppers.
As Black Friday approached, the honchos at Walmart, the largest employer in the United States, found themselves at a loss to respond to a nationwide rebellion within the ranks of their near-captive workers -- people who work for an average wage of $8.81 per hour, according to The National Memo, often in areas where Walmart is the only game in town for a job if you don’t have a college degree (or even if you do).
Forget the stampeding shoppers, the half-priced waffle irons, or the pepper spray wielding wackos: barring a federal intervention, the main event this Black Friday could turn out to be a showdown between organized labor and its arch corporate nemesis, Wal-Mart.
In early October, billboards began appearing saying "Voter Fraud is a Felony!" punishable by up to 3 1/2 years in prison and fines of $10,000. The billboards only appeared in low-income, minority areas.
More broadly, the widening inequality reflected in the gap between the pay of Walmart workers and the returns to Walmart investors, including the Walton fammily, haunts the American economy.
A new study released by the progressive think tank Demos on Monday estimated that if retail workers were given a living wage, hundreds of thousands of Americans would be lifted out of poverty and the wage boost would significantly bolster the economy.
This strike follows a cluster of other Walmart strikes across the country over things like unsafe working conditions, sexual harassment, excessive hours, and low pay. Learn more after the jump.
