FROM 2012 INTO 2013 POLITICS THREAD

Greenhorn · Nov 2, 2012

Re: THE 2012 POLITICS THREAD

Which has more references to "the left"--this thread or that Beyonce song?

Captain Obvious · Nov 2, 2012

Re: THE 2012 POLITICS THREAD

The story about the supposed incident in Virginia where repairmen from an Alabama utility turned around for home after they wouldn't join a union caused an Internet kerfuffle today. Story looks to be false.

http://www.nj.com/news/index.ssf/2012/11/union_official_denies_non-unio.html

LongTimeListener · Nov 2, 2012

Re: THE 2012 POLITICS THREAD

Greenhorn said:

Which has more references to "the left"--this thread or that Beyonce song?
Click to expand...

I could definitely see Mitt telling factory workers "everything you own is in a box to the left."

Starman · Nov 2, 2012

Re: THE 2012 POLITICS THREAD

old_tony said:

So will this bother Starman and the rest of the left? Somehow I doubt it.

http://livewire.talkingpointsmemo.com/entry/reid-laughable-for-romney-to-say-dems-will
Click to expand...

Oh dear, the very idea one of the houses of Congress might not cooperate with ramming through the president's program!

I am concerned, very concerned!! I certainly hope such an awful thing never happens.

Riptide · Nov 2, 2012

Re: THE 2012 POLITICS THREAD

Baron Scicluna said:

RickStain said:

Baron Scicluna said:

Walmart has 2.2 million employees. A $10 a week raise for each of them would be $22 million. Multiply that by 52 weeks, and you get about $114 million per year.

Walmart's NET operating income was about $15.7 BILLION.
(http://en.wikipedia.org/wiki/Walmart)

In other words, a 25 cent an hour raise would be cost 0.00726114649 (yes, I used a calculator) percent of Walmart's net income.

Pity poor Walmart.
Click to expand...

You missed a couple of decimal points.

1) $1.14 billion ($1,140 million).

2) 0.7... percent, not 0.007 percent. So actually 7 percent.
Click to expand...

I sucked at math in school.

But still, my point stands. The poster who I was responding to said that a 25 cent an hour raise wouldn't be cost effective for a business. A 7 percent net profit loss for a $15 billion per year company isn't that much.
Click to expand...

Sorry to go back this far, but the math still was incorrect. It would be 0.7 percent, not 7 percent. ... And an actual 7 percent loss would be a pretty serious problem for most retail businesses. Even Walmart.

RickStain · Nov 2, 2012

Re: THE 2012 POLITICS THREAD

Riptide said:

Sorry to go back this far, but the math still was incorrect. It would be 0.7 percent, not 7 percent. ... And an actual 7 percent loss would be a pretty serious problem for most retail businesses. Even Walmart.
Click to expand...

There were two mistakes. The total dollars were off by a factor of 10, and the percentage was misread by not moving the decimal over two spots.

So in total, it actually would be 7%.

Riptide · Nov 2, 2012

Re: THE 2012 POLITICS THREAD

RickStain said:

Riptide said:

Sorry to go back this far, but the math still was incorrect. It would be 0.7 percent, not 7 percent. ... And an actual 7 percent loss would be a pretty serious problem for most retail businesses. Even Walmart.
Click to expand...

There were two mistakes. The total dollars were off by a factor of 10, and the percentage was misread by not moving the decimal over two spots.

So in total, it actually would be 7%.
Click to expand...

$10 week more for each Walmart employee cuts net income by 7 percent? No way.

RickStain · Nov 2, 2012

Re: THE 2012 POLITICS THREAD

Riptide said:

RickStain said:

Riptide said:

Sorry to go back this far, but the math still was incorrect. It would be 0.7 percent, not 7 percent. ... And an actual 7 percent loss would be a pretty serious problem for most retail businesses. Even Walmart.
Click to expand...

There were two mistakes. The total dollars were off by a factor of 10, and the percentage was misread by not moving the decimal over two spots.

So in total, it actually would be 7%.
Click to expand...

$10 week more for each Walmart employee cuts net income by 7 percent? No way.
Click to expand...

Yes way, I'm afraid.

2.2 million employees x $10 x 52 = 1,144 million, or 1.144 million..

The earlier post listed net operating income as 15 billion

That's 7%.

Riptide · Nov 2, 2012

Re: THE 2012 POLITICS THREAD

RickStain said:

Riptide said:

RickStain said:

Riptide said:

Sorry to go back this far, but the math still was incorrect. It would be 0.7 percent, not 7 percent. ... And an actual 7 percent loss would be a pretty serious problem for most retail businesses. Even Walmart.
Click to expand...

There were two mistakes. The total dollars were off by a factor of 10, and the percentage was misread by not moving the decimal over two spots.

So in total, it actually would be 7%.
Click to expand...

$10 week more for each Walmart employee cuts net income by 7 percent? No way.
Click to expand...

Yes way, I'm afraid.

2.2 million employees x $10 x 52 = 1,144 million, or 1.144 million..

The earlier post listed net operating income as 15 billion

That's 7%.
Click to expand...

Sorry, I did miss the part about the total dollars being off.

Edit: But that doesn't mean it's a further 7 percent loss to investors. It's a
7 percent loss of the net profit, which then would be recalculated against total earnings, right? I need an accountant here, or at least a good business writer.

old_tony · Nov 2, 2012

Re: THE 2012 POLITICS THREAD

Union thuggery: It's the Democrats' way.

http://thurbersthoughts.blogspot.com/2012/11/union-officers-members-charged-with.html

Starman · Nov 2, 2012

Re: THE 2012 POLITICS THREAD

old_tony said:

Union thuggery: It's the Democrats' way.

http://thurbersthoughts.blogspot.com/2012/11/union-officers-members-charged-with.html
Click to expand...

Snore.

http://everythinglubbock.com/fulltext?nxd_id=127412

GeorgeFHayek · Nov 2, 2012

Re: THE 2012 POLITICS THREAD

Riptide said:

It's a 7 percent loss of the net profit, which then would be recalculated against total earnings, right? I need an accountant here, or at least a good business writer.
Click to expand...

Net operating income generally is greater than net income (which takes into account financing activities, etc.). Best as I can tell -- and I didn't delve deeply into Wal-Mart's financials today, but I did do some digging -- a 7% loss of net operating profit would be a greater percentage loss of net income.

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