Thursday, April 2, 2015

Why Do Progressives Hate Walmart for Low Prices But Love High-Priced Apple?

Mark Perry discusses the strange elitist perspective of progressives and their contradictory views and actions:
 Evil Walmart makes a lot of money, right? We hear that all the time even though the retail giant’s profit margin was only 3.12% in the most recent quarter. Interestingly, we never seem to hear as much about the much higher profit margin of Apple, the “darling of the progressives.” In the most recent quarter, the computer behemoth with a market capitalization ($725 billion) that exceeds the value of the entire stock markets of Mexico, Thailand and Russia, had a whopping profit margin of 24.2%. No wonder its market cap is so astronomical.
Here’s one way to put Walmart’s 3.12% profit margin in perspective. Over a typical 31-day period like the month of March for example, Walmart generates about $40.5 billion in sales revenue (roughly $1.3 billion per day). To generate that amount of sales, it costs Walmart about $39.3 billion every 31 days to pay for all of its expenses: merchandise to stock its stores, shipping expenses, the cost of labor including fringe benefits, utilities, corporate income taxes, property taxes, payroll taxes, interest expenses, advertising, etc. After incurring all of those costs to provide the merchandise for consumers over a 31-day period, there’s about $1.26 billion left over for profits, which is also 3.12% of the $40.5 billion in sales revenue... 
In contrast, Apple’s whopping 24.2% profit margin means that the company can typically cover its costs to operate for 31 days in a little more than three weeks (23.5 days) and it then usually has 7.5 “profit days” every 31 days. That is, for more than an entire week every month, all of the sales revenue collected by Apple during those 7.5 days turns into profits for Apple’s shareholders. So why is Walmart so reviled by progressives when its profits (and prices) are so low that it might earn a “profit day” every 31 days, and its main corporate objective is to provide low-cost merchandise to America’s low- and middle-income households? ....
The workforce of Walmart is much more diverse than Apple’s. Walmart hires twice as many women and more than twice as many blacks as a share of its workforce than does Apple. As Steve Bartin points out on his blog, “We hear with enormous conviction by progressives that it’s important that a workforce looks like America.” Well, the data clearly show that Walmart is doing a much better job than Apple of hiring a workforce that “looks like America.” Further, Steve asks, “Does it bother progressives that they are attacking America’s largest private employer of minorities and women? No. I guess they prefer the “un-diverse” [overly white male and Asian] world of Apple.”


  1. They also worship racist war criminals like FDR, Johnson, and Lincoln. Good luck figuring that one out. The question the world desperately needs an answer to is simpler:

    Why do progressives hate? They always get their way, and yet, they always hate something else the next day.

    1. They hate everything that they themselves are.

      Liberalism is like a religion crossed with a psychological disorder.

  2. Great follow-up to the post on Nick Hanauer, a Seattle billionaire who promotes a higher mandated minimum wage. In one of his interviews he also criticized Walmart without once mentioning his own family business (Hanauer is Chairman), Pacific Coast Pillows, a manufacturer of bed linens. A recent news article reported the company had almost $400 million in profits last year yet Hanauer did not volunteer half of these profits to increase his workers salaries. Not to mention the billions he made getting lucky in the IPO market. Elitist is a good description of this type of person. They've made a little money and they think this qualifies them to force everyone else to live by their rules. They seem mentally handicapped regarding rational human behavior.