Washington Babylon — March 10, 2009, 12:02 pm

Citigroup: Sell Wal-Mart for fear of union

From MarketWatch:

Citigroup Inc. lowered its rating on Wal-Mart Stores Inc. to hold from buy on Tuesday, citing concern that legislation intended to make it easier for employees to unionize would raise the retail giant’s labor costs and hurt its competitiveness. Deborah Weinswig, a Citigroup analyst, cut her price target on the Bentonville, Ark.-based retailer to $48 from $53…

The proposed Employee Free Choice Act, a top priority for unions this year, was formally introduced Tuesday by Sen. Tom Harkin, D-Iowa., and Rep. George Miller, D-Calif.
Wal-Mart would be the “primary target” if any such bill were to be passed, especially because the U.S. food retail industry has historically been unionized with the exception of Wal-Mart, which is the largest food retailer, she said.

Update:

John Duncan writes, “Very interesting, considering Wal-Mart hasn’t been at 53 in a couple of months. So Citibank is lowering its “target” from something that wasn’t very achievable to something close to where Wal-Mart is currently running, claiming that it’s the scary unions that are causing the problem. I call BS.”

Share
Single Page

More from Ken Silverstein:

Commentary November 17, 2015, 6:41 pm

Shaky Foundations

The Clintons’ so-called charitable enterprise has served as a vehicle to launder money and to enrich family friends.

From the November 2013 issue

Dirty South

The foul legacy of Louisiana oil

Perspective October 23, 2013, 8:00 am

On Brining and Dining

How pro-oil Louisiana politicians have shaped American environmental policy

Get access to 165 years of
Harper’s for only $45.99

United States Canada

CATEGORIES

THE CURRENT ISSUE

May 2016

Fighting Chance

= Subscribers only.
Sign in here.
Subscribe here.

Front Runner

= Subscribers only.
Sign in here.
Subscribe here.

The Habits of Highly Cynical People

= Subscribers only.
Sign in here.
Subscribe here.

Unhackable

= Subscribers only.
Sign in here.
Subscribe here.

American Imperium

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content

FEATURED ON HARPERS.ORG

Post
Elisabeth Zerofsky on Marine Le Pen, Paul Wachter on the quest for an unhackable email, Rebecca Solnit on cynical people, Andrew J. Bacevich on truth and fiction in the age of war, Samuel James photographs E.P.L. soccer, a story by Vince Passaro, and more

The old woman’s husband, even older than she, has lived long enough. She is careful not to say this to her daughters, to her brother, to the doctors. He’s had a stroke, or something like a stroke, and at first he seemed to be recovering. Then there were intermittent bad days and setbacks and now, a few weeks in, they are all bad days: he is declining, delirious, difficult, and she is exhausted. Her mind — usually a badger den of plans, desires, and, most of all, worry — now, at night, in its rare moments of rest, tumbles into a pale white silence. She doesn’t want him to live on like this, biting the nurses like a dog that needs to be put down.

Illustration by Taylor Callery
Article
Front Runner·

= Subscribers only.
Sign in here.
Subscribe here.

"The F.N. asked to be sent to an institution whose legitimacy it did not accept, and French voters rewarded the party with first place in the election."
Illustration (detail) by Matthew Richardson
Article
American Imperium·

= Subscribers only.
Sign in here.
Subscribe here.

"One consequence of remaining perpetually at war is that the political landscape in America does not include a peace party."
Illustration (detail) by Steven Dana
Article
War of The Roses·

= Subscribers only.
Sign in here.
Subscribe here.

"Guns never had a political agenda. They were first and foremost about themselves and their music."
Photograph (detail) by Marc Canter
Article
A Shrinking World, An Opening Sky·

= Subscribers only.
Sign in here.
Subscribe here.

"Her mind — usually a badger den of plans, desires, and, most of all, worry — now, at night, in its rare moments of rest, tumbles into a pale white silence."
The No Mind Not Thinks No Things vokgret (detail), by Doug and Mike Starn. Courtesy the artists and Galerie Lelong, New York City

Average number of times a Canadian apologizes each week:

4

Beaumont, Texas, produces the saddest tweets.

The Finnish postal service announced it will begin mowing lawns on Tuesdays.

Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!

HARPER’S FINEST

Mississippi Drift

By

Matt was happy enough to sustain himself on the detritus of a world he saw as careening toward self-destruction, and equally happy to scam a government he despised. 'I’m glad everyone’s so wasteful,' he told me. 'It supports my lifestyle.'

Subscribe Today