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Hell Just Froze Over

by: djtyg

Wed Jul 01, 2009 at 18:24:32 PM EDT


Wow.  If Wal-Mart keeps this up, I might have to end my boycott of them:

WASHINGTON - Wal-Mart, the nation's largest private employer, joined hands with a major labor union Tuesday to endorse the idea of requiring large companies to provide health insurance to their workers, a move that gives a boost to President Obama as he is pushing for health legislation on Capitol Hill.

"Not every business can make the same contribution, but everyone must make some contribution," Wal-Mart's chief executive, Michael T. Duke, wrote in a letter to White House and Congressional officials, adding that he favored "an employer mandate which is fair and broad in its coverage."

The letter was issued jointly with Andrew W. Stern, president of the Service Employees International Union, which represents two million workers, many of them in the health care industry, and John D. Podesta, who ran Mr. Obama's transition to the presidency and leads the Center for American Progress, a Democratic policy organization here.

Of course they want conditions on it to make sure it's cost effective, but it's a good start.

I never thought I'd see the day when unions and Wal-Mart actually agreed on something.

djtyg :: Hell Just Froze Over
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Actually, it's not that surprising when you think about it. (4.00 / 1)
http://wakeupwalmart.com/facts/

Wal-Mart's Health Care Plan Fails to Cover Over 775,000 Employees

Wal-Mart reported in January 2006 that its health insurance only covers 43% of their employees. Wal-Mart has approximately 1.39 million US employees.

OK, let's suppose that Wal-Mart keeps their current coverage. Under this plan, they'd have to pay $750/year x 775,000 people.

That means this plan would cost them about $581 million per year.

In order to be worth it for them, it would have to gain them at least an extra $600 million per year in revenue, which would come from squeezing their competition out of business.

Considering that they have a net profit of almost $14 billion per year on revenue of $400 billion, that sounds quite doable to me (from their perspective).

In other words, this plan would cost them 0.15% of their annual gross income, but it would likely cost their smaller competitors--say, Target, for example--a higher percentage, which is still to Wal-Mart's advantage.


Well.... (4.00 / 1)
in this case I'm taking an "the enemy of my enemy is my friend" approach.  I still think Wal-Mart is scum, but if this is going to help get universal healthcare passed, then I'm all for it.

A voice in my head tells me not to be so mean to the conservatives.  I work very hard to ignore that voice.

[ Parent ]


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