An awesome workout machine I like: Ultimate Body Press.
Real Estate in North Carolina: The Peaks at Wolf Ridge.
Attention Dial-up users! Support corporate-free media by switching to IndyLink for your internet access and hosting needs:
Here's a great CD by RudePundit:
In a victory for European consumers, labor, local businesses and fair trade: Wal-Mart is pulling out of Germany.
Wal-Mart to Sell Division to Metro, Exiting Germany
Wal-Mart Stores Inc., the world's largest retailer, will retreat from Germany by selling its 85 stores to Metro AG at a $1 billion loss, two months after exiting South Korea.
Wal-Mart failed to make money in Germany, Europe's largest economy, where consumer spending didn't grow last year and closely held Aldi Group and Lidl dominate. Its U.K. unit, the Asda supermarket chain, missed profit and sales goals last year, and the company is leaving South Korea after failing to win customers. The German unit had revenue of 2 billion euros ($2.54 billion) last year, compared with the parent's $312.4 billion.
The real story here is that even if you factor in the pro-corporate spin that Bloomberg added to the above article; without monopolistic practices, government subsidies and under-priced labor - Wal-Mart was unable to compete.
This is another example that demonstrates how Wal-Mart's strength doesn't come from superior management or distribution, but from the ability to bully their opponents into giving them what they want.
Read counterpoint here.
Tags: Wal-Mart - Labor - Germany - South Korea - competition
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