Ryan, you need to open your eyes. Sure, you can credit Wal-Mart for operating a successful business model. However, you can also credit them with moving many of our manufacturing jobs overseas. When Wal-Mart meets with a company to sell their product one of the first things they check for is to see if they are manufacturing overseas so that they can bring down the price. It's not just about the corner store down the street anymore. Who benefits the most from Wal-Marts prices? Near the top of the list is people that have factory manufacturing jobs. I am not against global trade, but it should not be at the expense of our country living without a job, only to be unaccounted for in the unemployment statistics 6-months later.
I am one of those corner custom electronics integration boutiques. Wal-Mart and COSTCO often sell for less than what we can buy from our distributors. It's not our fault.
Most of the displays found at those warehouse stores we wouldn't sell anyway. Many have poor pictures and they cannot be reliably with high-end RF remote controls. We use RTI and prefer to control via RS-232 ports on the back. Anyway, our business model is to provide GREAT system design, installation and service. Try finding any of those at Wal-Mart.
@Ryan: You're perfectly right. Places like Circuit City are not going out of business because they can't compete with WalMart's prices... if that were the argument, then Best Buy would be closing up shop, too. Stop blaming WalMart's ingenious strategy with the downfall of America. Let's start blaming people for driving Honda's and Toyota's, too (or wait, let me guess, buying Toyota is somehow American, because they have a few factories in the U.S.?). Costco sells nearly everything at a 13% markup from wholesale... given the prices at Sams Club, it would appear they do about the same.
@Joe: You better believe WalMart has a successful business model. Moving jobs overseas? Well, I'm pretty sure you can credit a large chunk of American companies for doing this, no? Toyota has forced the "Big Three" to start producing more overseas. Banks and other companies (Dell? haha) have their Servicing overseas (ie, India). Everyone is starting to realize that the only way to make money is to abuse the Law of Arbitrage that only exists in a non-perfect economy. "...GREAT system design, installation and service..." doesn't matter to the majority. If you can brand your product and still offer a competitive pricing, that's a different story. You certainly can't substitute service for price. WalMart realized that a long time ago.
I don't feel bad at all for the Radio Shacks and Circuit City's and MediaPlays that are closing their stores because more efficient companies are taking over. They've had just as long in the marketplace as WalMart has. WalMart has done the right thing, and they're profiting off it.
Very few people, on HDTV purchases, go out and buy one "on a whim". They research, shop around, and get what they need for the best price they can get it. Let's face it, die-hard WalMart shoppers aren't going to buy an HDTV, that's why they shop at WalMart in the first place. But if you have a middle-income family that decides to buy a non-Panasonic or non-Sony HDTV because they intelligently realize that the increase in picture quality is not worth the ridiculous increase in price, and find the best price at WalMart... how is that unfair?
It's too bad that Americans are so quick to point the finger at a successful American company, but will run to buy a Honda/Toyota/Nissan, etc. These people's concepts of an open economy are ass-backwards, and the reason the U.S. economy is suffering.
And yes, all you anti-WalMart fanatics can try ripping my post apart, but Rick is right. When WalMart posts continuous record-revenues and profits, you have yourself to thank, just as much as you have yourselves to thank for record Toyota/Honda revenues and profits. Take responsibility for your actions.
Joe, you are wrong. It's not Walmart's fault. It's the government that allows moving manufacturing overseas. You can't blame Walmart for finding a cheaper way. This is what's it all about in capitalism. Don't complain about Walmart, complain about the government. Instead of taxing extra products and services brought in from overseas they stay silent and this is the result. Nobody prevents you from importing TVs and electronics from China, now does it? Again, it's capitalism man.
For me personally, Walmart is doing a great service to everyone. Boost competition, gives more jobs and convenience to an average Joe.
If government said ok, whoever imports products and uses overseas workforce instead of local workforce they MUST be taxed more. It is simply impossible to compete in the US market where you pay at least $6 an hour and some 3rd world country or China where they pay workers $6 a month.
But back on topic. Joe I understand your frustration, but Walmart is not to blame, they are just leveraging the opportunity that's all.
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Ryan, you need to open your eyes. Sure, you can credit Wal-Mart for operating a successful business model. However, you can also credit them with moving many of our manufacturing jobs overseas. When Wal-Mart meets with a company to sell their product one of the first things they check for is to see if they are manufacturing overseas so that they can bring down the price. It's not just about the corner store down the street anymore. Who benefits the most from Wal-Marts prices? Near the top of the list is people that have factory manufacturing jobs. I am not against global trade, but it should not be at the expense of our country living without a job, only to be unaccounted for in the unemployment statistics 6-months later.
I am one of those corner custom electronics integration boutiques. Wal-Mart and COSTCO often sell for less than what we can buy from our distributors. It's not our fault.
Most of the displays found at those warehouse stores we wouldn't sell anyway. Many have poor pictures and they cannot be reliably with high-end RF remote controls. We use RTI and prefer to control via RS-232 ports on the back. Anyway, our business model is to provide GREAT system design, installation and service. Try finding any of those at Wal-Mart.
@Ryan: You're perfectly right. Places like Circuit City are not going out of business because they can't compete with WalMart's prices... if that were the argument, then Best Buy would be closing up shop, too. Stop blaming WalMart's ingenious strategy with the downfall of America. Let's start blaming people for driving Honda's and Toyota's, too (or wait, let me guess, buying Toyota is somehow American, because they have a few factories in the U.S.?). Costco sells nearly everything at a 13% markup from wholesale... given the prices at Sams Club, it would appear they do about the same.
@Joe: You better believe WalMart has a successful business model. Moving jobs overseas? Well, I'm pretty sure you can credit a large chunk of American companies for doing this, no? Toyota has forced the "Big Three" to start producing more overseas. Banks and other companies (Dell? haha) have their Servicing overseas (ie, India). Everyone is starting to realize that the only way to make money is to abuse the Law of Arbitrage that only exists in a non-perfect economy. "...GREAT system design, installation and service..." doesn't matter to the majority. If you can brand your product and still offer a competitive pricing, that's a different story. You certainly can't substitute service for price. WalMart realized that a long time ago.
I don't feel bad at all for the Radio Shacks and Circuit City's and MediaPlays that are closing their stores because more efficient companies are taking over. They've had just as long in the marketplace as WalMart has. WalMart has done the right thing, and they're profiting off it.
Very few people, on HDTV purchases, go out and buy one "on a whim". They research, shop around, and get what they need for the best price they can get it. Let's face it, die-hard WalMart shoppers aren't going to buy an HDTV, that's why they shop at WalMart in the first place. But if you have a middle-income family that decides to buy a non-Panasonic or non-Sony HDTV because they intelligently realize that the increase in picture quality is not worth the ridiculous increase in price, and find the best price at WalMart... how is that unfair?
It's too bad that Americans are so quick to point the finger at a successful American company, but will run to buy a Honda/Toyota/Nissan, etc. These people's concepts of an open economy are ass-backwards, and the reason the U.S. economy is suffering.
And yes, all you anti-WalMart fanatics can try ripping my post apart, but Rick is right. When WalMart posts continuous record-revenues and profits, you have yourself to thank, just as much as you have yourselves to thank for record Toyota/Honda revenues and profits. Take responsibility for your actions.
Joe, you are wrong. It's not Walmart's fault. It's the government that allows moving manufacturing overseas. You can't blame Walmart for finding a cheaper way. This is what's it all about in capitalism. Don't complain about Walmart, complain about the government. Instead of taxing extra products and services brought in from overseas they stay silent and this is the result. Nobody prevents you from importing TVs and electronics from China, now does it? Again, it's capitalism man.
For me personally, Walmart is doing a great service to everyone. Boost competition, gives more jobs and convenience to an average Joe.
If government said ok, whoever imports products and uses overseas workforce instead of local workforce they MUST be taxed more. It is simply impossible to compete in the US market where you pay at least $6 an hour and some 3rd world country or China where they pay workers $6 a month.
But back on topic. Joe I understand your frustration, but Walmart is not to blame, they are just leveraging the opportunity that's all.