Wal Mart Cuts Its Employee Health Care Plan And Raises Premiums

[red states rule]

Thank you Obamacare!!! I wonder how many of those Wal Mart workers who voted for Obama in 2008 will blame Obama or the "greedy" corporation for this?

More hope and change hitting the working folks courtesy of the Hope and Change President

Claiming that it's too expensive, Wal-Mart has announced it is rescinding health coverage for part-time workers and drastically raising premiums for much of its full time staff.

According to The New York Times, the country's largest private employer told all of its employees working less that 24 hours a week that they will no longer qualify for insurance and anyone working up to 33 hours a week may no longer include a spouse on their plan.

Rates are expected to climb by more than 40 percent for some employees. Combined with high deductibles, employees are complaining that their health care will now eat up to 20 percent of their annual pay.


Read more: http://www.businessinsider.com/wal-m...#ixzz1bUfJ1sJ9

[red states rule]

[ConHog]

Thank you Obamacare!!! I wonder how many of those Wal Mart workers who voted for Obama in 2008 will blame Obama or the "greedy" corporation for this?

More hope and change hitting the working folks courtesy of the Hope and Change President

Wal Mart is just not the same company they were when Sam was alive. He would NEVER have allowed this to happen; and frankly RSR I'm not sure how you can blame Obamacare for it.

[fj1200]

Wal Mart is just not the same company they were when Sam was alive. He would NEVER have allowed this to happen; and frankly RSR I'm not sure how you can blame Obamacare for it.

Because the costs of HC insurance are going up in order to comply with the mandates. What could Sam do about that?

[ConHog]

Because the costs of HC insurance are going up in order to comply with the mandates. What could Sam do about that?

WM is self insured. I guarantee their costs weren't going up. Sam would have ate the difference and kept his employees covered.

[LuvRPgrl]

WM is self insured. I guarantee their costs weren't going up. Sam would have ate the difference and kept his employees covered.

The cost of healthcare is also going up.

The reason wall mart does so well is because of their low prices. They depend on volume, and have the slimmest profit margin they can maintain, hence "sam" could not afford to eat it.

[ConHog]

The cost of healthcare is also going up.

The reason wall mart does so well is because of their low prices. They depend on volume, and have the slimmest profit margin they can maintain, hence "sam" could not afford to eat it.

LOL I can assure you that Wal Mart doesn't have the slimmest profit margins they can maintain. They are doing quite well.

[DragonStryk72]

LOL I can assure you that Wal Mart doesn't have the slimmest profit margins they can maintain. They are doing quite well.

I think most companies are just hunkering down at this point. I mean, they won't come out and say that's what they're doing, cause their stocks would drop, but that's what it seems like to me. With how unstable our economy is at this point, I think that most companies, even Wal-Mart, are trying to hoard as much money as possible to sort of ride it out. When things get back to a more stable footing, I think you'll see benefits and such on the rise again.

[Psychoblues]

LOL I can assure you that Wal Mart doesn't have the slimmest profit margins they can maintain. They are doing quite well.

Here we agree totally, ch. Sam would have never allowed this to happen but even if true then how does anyone explain the CostCo example? CostCo competes very well with any discount chain out there including Sams Club and they pay their employees very well, provide very good benefits and opportunities for advancements and career considerations are as good as anyone's.

Psychoblues

[Kathianne]

While PB may agree with the take that Walmart is raking in the dough. Wall Street understands the differences between perceptions and reality:

http://www.huffingtonpost.com/2011/0..._n_928030.html

[Psychoblues]

While PB may agree with the take that Walmart is raking in the dough. Wall Street understands the differences between perceptions and reality:

http://www.huffingtonpost.com/2011/0..._n_928030.html

Linking to an article that tells flat out that the profits of WalMart and Sams Club are substantially higher than expected is not helping your case, Kath. Do you read your articles?

Just kidding you, Kath!!!!!!!



Psychoblues

[Kathianne]

Linking to an article that tells flat out that the profits of WalMart and Sams Club are substantially higher than expected is not helping your case, Kath. Do you read your articles?

Just kidding you, Kath!!!!!!!



Psychoblues

yeah, meaning you're lying Pb, so funny. Not.

[Psychoblues]

yeah, meaning you're lying Pb, so funny. Not.

Read your article, Kath, and tell me once more that WalMart and their sister stores Sams Club aren't making the killing that I alluded. It ain't me lying so it must be you.

Psychoblues

[Kathianne]

Read your article, Kath, and tell me once more that WalMart and their sister stores Sams Club aren't making the killing that I alluded. It ain't me lying so it must be you.

Psychoblues

Not in the article, indeed your lies will not back you.

[Psychoblues]

Not in the article, indeed your lies will not back you.

The very title of the article:
Wal-Mart Profits Rise, But U.S. Sales Still Slump

Excerpts from the article:

NEW YORK — Wal-Mart Stores Inc. posted a second-quarter profit increase of 5.7 percent on Tuesday and raised its outlook for the year as its results benefit from international sales growth and cost cutting................................................... ................................

Overall, revenue, excluding Sam's Club membership fees, was up 5.5 percent to $108.6 billion. Results were buoyed by Wal-Mart's international business, which produces 26 percent of its revenue. The company's international division was up 16.2 percent................................................... .......................

The retailer, based in Bentonville, Ark., reported net income of $3.8 billion, or $1.09 per share, in the three months ended July 31. That compares with $3.6 billion, or 97 cents per share, in the same period last year. Analysts had expected $1.08 per share on revenue of $108.08 billion................................................... ..........................

While this indicates a one cent or roughly .9% above expectations that is indeed significant. Other retailers would croon for such a number in this retail climate.

Wal-Mart said it will continue to improve results. The company said revenue at stores open at least a year at its Walmart stores in the U.S. is improving and reiterated that it expects to see growth in that measure by the year's end................................................... .................................................. ............

Wal-Mart said results are improving because U.S. customers are beginning to respond to its turnaround strategies. After consumers balked at popular brand names and other merchandise they want being missing from store shelves, the company has been restocking those items that it had scrapped in an overzealous move to clean up stores. And its returning to a philosophy of everyday low pricing instead of slashing prices temporarily on select merchandise is resonating with its financially-strapped customers......................................... .................................................. ...................

Wal-Mart shares rose $1.93, or almost 4 percent, to $51.91............................................ .................................................. .......

All of this and a lot more right there in YOUR linked to article, Kath. WalMart talks a lot about how their customer base is struggling but their business continues to boom both here and overseas and will do exponentially better as more WalMart Express stores open as planned. That's in your article as well.

Don't call me a liar, Kath. I do not lie, I mean about anything serious.



Psychoblues