Wal-Mart Cuts Way Back - Arkansas Bank Fails
cwsiv_2nd at HOTPOP.COM
Sat May 24 18:54:48 MDT 2008
Looks like the whore for RED China is finally getting screwed in the
They who have nuked small business wherever they go are now dealing with
Wal-Mart Cuts Way Back -
Arkansas Bank Fails
>>From Kimberly Dawley
The collapse of ANB Financial National Association is significant.
Population of Bentonville, Arkansas is 19,500 people .... and Wal-Mart
Stores, Inc. Bentonville IS Wal-Mart !
For the past four months, Wal-Mart (Bentonville, Arkansas) has been
canceling (Tip of the iceberg:
http://www.huffingtonpost.com/al-norman/wal-mart-cancels-45-super_b_94112.html ) almost all of their (major) corporate projects into the future. We know the magnitude of Wal-Mart's financial dilemma directly from its internal (attorney) legal "dropped project memos" and "Real Estate Committee reapproval memos."
Wal-Mart press releases and media news reports to the public are
Over 700,000 Chinese exporters / manufacturers
( http://www.ft.com/cms/s/0/95f406ee-fc69-11dc-9229-000077b07658.html )
are now refusing to accept U.S. dollars as payment for products for
retail sales. Wal-Mart's on-shelf stock numbers have been significantly
reduced. Merchandise quality is now marginal to bad and in many cases
becoming unavailable as prices skyrocket with broad spectrum factors
coming together to create an uncomfortable sales environment. Wal-Mart's
total overhead is becoming unsustainable we believe.
August 2005: Two years ago -
Wal-Mart estimates that utility expenses rose by $100 million in its
second quarter (one three month period), when it also spent $30 million
more to truck merchandise from its U.S. distribution centers to stores.
Those additional costs add up to almost 5 percent of Wal-Mart's
second-quarter profit of $2.8 billion.
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