Look Out - WalMart Now Sells $10,000 Diamonds

[Kit]

For me, the issue is that in fact Wal Mart can afford to pay all its employees a living wage and yet chooses not to do so. In addition they are actively encouraging their employees to take advantage of government programs because their benefits package is so bad. The only reason to do this is to maximize profit. Studies have shown that employee retention is greater when employees are valued through decent wages and benefits. It is just pure corporate greed. Sure, they bring jobs to areas where employment opportunties are limited, but are these jobs really helping lift these low income families into economic self-sufficiency? If a Wal Mart worker is forced to work overtime without pay, and go on welfare to keep her family''s head above water, I dont'' really think that Wal Mart is adding a value to this workers economic picture or the community''s for that matter. And, after a few months all the other jobs that were in the area have been wiped out, and then when Wal Mart packs up and leaves the community is completely screwed. I fail to see how there are pros to this situation. I don''t believe that just becuase we operate in a capitalist environment that every company should slash and burn the way Wal Mart does. Again, just my opinion.

Okay, must calm down....

 

[squarediamondlove]

Date: 11/21/2005 10:13:30 AM
Author: kenny
Wow. They even got the New York Times buzzing.


snip


ny times

NY Times states,

"Walmart.com has broken through its own glass ceiling, selling high-priced platinum and diamond jewelry, cashmere sweaters and other goods designed to appeal more to the Tiffany crowd than to the bargain hunters who browse the company''s terrestrial stores".

Can you imagine Tiffany Co. customers going into Walmart to buy their jewelry

 

[MissAva]

Date: 11/22/2005 6:25:10 PM
Author: Kaleidoscopic

Date: 11/21/2005 10:13:30 AM
Author: kenny

Wow. They even got the New York Times buzzing.


snip


ny times

NY Times states,

''Walmart.com has broken through its own glass ceiling, selling high-priced platinum and diamond jewelry, cashmere sweaters and other goods designed to appeal more to the Tiffany crowd than to the bargain hunters who browse the company''s terrestrial stores''.

Can you imagine Tiffany Co. customers going into Walmart to buy their jewelry

I have about two dozen pieces of jewlery from Tiffanys and I shop at Wal-Mart about once a week and drive a Lexus....having disposable income does not mean I need to waste it by buying my groceries at Brunos and pay 6$ for a flat of water vs 2.86 or 4.99 for a 12 pack vs 5.98 for a 24 pack of Diet Coke.

 

[squarediamondlove]

I hope I didn''t offend you. I just meant as far as jewelry purchases go, I doubt that Wallmart would sell similar quality jewelry that Tiffany sells, so as to appeal to that crowed to go and buy diamonds their.

Is it just me, but are those photos of the ring digitally altered?

 

[MissAva]

Not at all! I love Tiffanys and Wal-Mart, but then my Wal-Mart has hard wood floors and is open 24/7 which is nice for those of us who dont sleep.

Ana mentioned before that the ring was a composite and not an actual picture. They dont carry things like that at our local store though. I have bought little charms and 8$ charm braclets for the kids I work with in the public schools, they just love them!

 

[UCLABelle]

Kit-

Didn''t know this topic would get you so upset. I am sorry. Like I said, I was not picking sides...Since you feel so strongly, it is a good thing that you don''t shop at Wal-Mart.

I still believe there are pros to Wal-Mart. Did you ever see the PBS special "When Wal-Mart Comes to Town"? Very interesting, it really gave both sides....Like I said, I still believe there are a few pros to Wal-Mart. A friend of mine at Columbia University with me in the Graduate School is writing her dissertation on Corporations similar to Wal-Mart and their implications. Many of the benefits (pros) are localized.

I agree that the pay is poor. Have you read "Nickel and Dimed"? It is by Barbara Ehrenreich. She describes the difficulty of getting by in America. I believe (read it a long time ago) that she uses Wal-Mart as a case example. Basically, she does her own research by working at min. wage jobs to see if she is able to support herself. She works at 3 or 4 diff. places.

Anyway, I am sorry again for making you so upset....I was just giving my thoughts about Wal-Mart.

 

[Kit]

Date: 11/23/2005 9:17:46 AM
Author: UCLABelle
Kit-

Didn''t know this topic would get you so upset. I am sorry. Like I said, I was not picking sides...Since you feel so strongly, it is a good thing that you don''t shop at Wal-Mart.

I still believe there are pros to Wal-Mart. Did you ever see the PBS special ''When Wal-Mart Comes to Town''? Very interesting, it really gave both sides....Like I said, I still believe there are a few pros to Wal-Mart. A friend of mine at Columbia University with me in the Graduate School is writing her dissertation on Corporations similar to Wal-Mart and their implications. Many of the benefits (pros) are localized.

I agree that the pay is poor. Have you read ''Nickel and Dimed''? It is by Barbara Ehrenreich. She describes the difficulty of getting by in America. I believe (read it a long time ago) that she uses Wal-Mart as a case example. Basically, she does her own research by working at min. wage jobs to see if she is able to support herself. She works at 3 or 4 diff. places.

Anyway, I am sorry again for making you so upset....I was just giving my thoughts about Wal-Mart.

Hey - no worries. I am just a hot-headed person sometimes.

I have not read Nickel and Dimed but I have heard much about it. It''s true, you can''t get by on minimum wage anymore. It''s about $10,000 a year. The Economic Policy Institute does a lot of great work on the issue, if you''re interested, check it out here.

 

[robbe]

hey americans, the entire world can read you. you should be proud of what walmart achieves in the world. i mean , the world outside the usa (did you know there is one?).
read this.

http://www.usatoday.com/money/industries/retail/2005-07-28-chinese-walmart_x.htm?POE=MONISVA

robbe

 

[koko]

I was visiting my dtr. in Savannah for Thanksgiving, picking up some last-minute groceries at her local Wal-mart, when an announcement came over the PA system: "attention Wal-mart shoppers, there is a new Wal-Martian in the world"....and they proceeded to give the stats of a employees new born dtr....I had to laugh. However, Wal-mart drives me crazy & I usually avoid it at all cost. I am strictly a Target person....easy in & out, better quality. Our local consumer advocate, Clarke Howard, bought his wife''s engagement ring at Costco & is proud of it!! I prefer to buy from the experts when it comes to diamonds, myself.....

 

[denverappraiser]

Robbe,

I don’t think anyone above is arguing that Wal-Mart’s behavior isn’t in the best interests of the people of China. The Chinese certainly seem to be happy about it. It’s true that this is, primarily, a concern of Americans at the moment but Europeans are also developing very similar worries as the company expands into Europe and it’s already an issue in Canada. I also don’t think there is much dispute that they can and do sell fine products for reasonable prices. Lastly, I don’t think that there is any claim that they are the only company involved. Target, Costco, Kroger and many other companies have very similar tactics. Wal-Mart is the face of a drastic change in the way products are manufactured and distributed that has happened in the last 30 years or so.

The primary battle seems to revolve around the affect on a community to have a Wal-Mart retail store open nearby. It changes consumption patterns, it changes employment profiles, it changes what products people choose to buy and it changes how public services are used ranging from healthcare to schools and police protection. It changes the tax base and it affects their suppliers, their competitors, their employees and even their stockholders. Not all change is bad but there are serious concerns that all of this threatens the overall health of the community and that ‘something’ should be done. It’s far from clear what.

I’m a big believer in the value of communities and I think every business should be part of their community. I prefer to patronize my neighbors businesses, in part because they are my neighbors, and I’m even willing to pay extra to do it. I prefer to shop at smaller stores, I dine at local restaurants in preference to the big chains and I drive an American made car. I have no ill will towards the people in China but I would like the parents of the other children in my granddaughters’ school to have good jobs and successful companies too and I think this is better served by trying to do business closer to home. Perhaps this is being self-serving since a successful local businesswoman and her employees are far more likely to hire me to do an appraisal than a satisfied worker in China but there is also an element that enriching my neighbors is enriching myself. For me, this is more important than ‘always low prices’.

Neil Beaty
GG(GIA) ISA NAJA
Professional Appraisals in Denver