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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: J_F_Shepard who wrote (725581)	7/10/2013 10:47:52 AM
From: longnshort	Respond to of 1579897

D.C. City Council Proposes Super-Minimum "Living Wage" of $12.50 an Hour; Wal-Mart Threatens to Pull Out D.C. is on the verge of passing a Living Wage" law mandating $12.50 an hour wages, but only for retailers with corporate sales of $1 billion or more. The response from the world's largest retailer is hardly unexpected. Wal-Mart Threatens to Pull Out of D.C. The Washington Post reports Wal-Mart says it will pull out of D.C. plans should city mandate ‘living wage’. The world’s largest retailer delivered an ultimatum to District lawmakers Tuesday, telling them less than 24 hours before a decisive vote that at least three planned Wal-Marts will not open in the city if a super-minimum-wage proposal becomes law. The company’s hardball tactics come out of a well-worn playbook that involves successfully using Wal-Mart’s leverage in the form of jobs and low-priced goods to fend off legislation and regulation that could cut into its profits and set precedent in other potential markets. In the Wilson Building, elected officials have found their reliable liberal, pro-union political sentiments in conflict with their desire to bring amenities to underserved neighborhoods. Mayor Vincent C. Gray (D) called Wal-Mart’s move “immensely discouraging,” indicating that he may consider vetoing the bill while pondering whether to seek reelection. Alex Barron, a regional general manager for Wal-Mart U.S., wrote in a Washington Post op-ed piece that the proposed wage requirement “would clearly inject unforeseen costs into the equation that will create an uneven playing field and challenge the fiscal health of our planned D.C. stores.” As a result, Barron said, the company “will not pursue” stores at three locations where construction has yet to begin — two in Ward 7 and one in Ward 5. He added that the legislation, if passed, will also jeopardize the three stores underway, pending a review of the “financial and legal implications.” The bill, known as the Large Retailer Accountability Act, passed the council on an initial 8 to 5 vote last month. The council would need nine votes to override a potential veto from Gray, who lobbied Wal-Mart to open a store at the Skyland Town Center site, near his Hillcrest home. Read more at globaleconomicanalysis.blogspot.com