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cali

(114,904 posts)
Tue Feb 23, 2016, 09:11 AM Feb 2016

"As a shareholder and director of our company, Iím always proud of Wal-Mart."

"As a shareholder and director of our company, I’m always proud of Wal-Mart.” These are the words of Hillary Clinton at the company’s 1990 stockholder meeting. You might not recognize this version of Clinton because the more recent version has attempted to match Democratic challenger Sen. Bernie Sanders in his disdain for ‘big business.’ But Clinton’s record at Wal-Mart should make voters question both the authenticity of her populism as well as the genuineness of her proposed policy solutions.

First, some background. Clinton was a director at Wal-Mart from 1986-1992, a time of rapid growth for the company. From 1986-1991, Wal-Mart created 230,000 jobs, more than any other firm in the country. The company grew quickly because it was wildly profitable and it was wildly profitable because it obsessively managed expenses. Cost management was vital to Walmart because, like most retailers, its profit margin — the amount of profit a business makes on each dollar in sales— is notoriously thin. For every dollar in sales Walmart makes, the company pockets just about three cents in profit.

Of course, then, as now, Walmart’s biggest cost was labor. And to keep labor costs in check, Wal-Mart took pains to make sure its workers didn't unionize. During Clinton’s tenure, the company’s strategy for dealing with organized labor was directed by fellow board member, John Tate. Mr. Tate famously summed up his philosophy at a 2004 managers meeting: "Labor unions are nothing but blood-sucking parasites living off the productive labor of people who work for a living.”

According to former board members, Clinton did not denounce the ‘anti-union’ efforts Tate spearheaded, nor rail for increased employee wages. Donald G. Soderquist, the board’s then vice chairman, has said that not only was Clinton “not a dissenter,” but that “she was a part of those decisions.” Wal-Mart’s stock rose by more than 500% during her tenure and Clinton’s shares were worth nearly $100,000 by 1992.

<snip>

http://www.usatoday.com/story/opinion/2016/02/22/hillary-clinton-wal-mart-minimum-wage-layoffs-store-closures-column/80225734/

26 replies = new reply since forum marked as read
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"As a shareholder and director of our company, Iím always proud of Wal-Mart." (Original Post) cali Feb 2016 OP
Walmart of the 80's is not the same as the walmart of the late 90's and beyond Blue_Adept Feb 2016 #1
Oh for fuck's sake. It was a union crushing behemoth and Hillary cali Feb 2016 #4
There are videotapes of 4 Wal-Mart Board meetings with Hillary present BernieforPres2016 Mar 2016 #24
Seeing the stuff that Hillary supporters have dredged up over Bernie this made me laugh. libtodeath Feb 2016 #6
And I think the Hillary supporters that do that are just as foolish Blue_Adept Feb 2016 #8
Walmart of the 1980's noamnety Feb 2016 #14
Walmart of the early 90's (during her time as director) noamnety Feb 2016 #15
Except they are still union-busting, still getting sued for sexism, Mufaddal Mar 2016 #21
The intellectual backflips Hillary supporters must do to justify supporting her BernieforPres2016 Mar 2016 #23
Walmart single-handedly destroyed rural America (get in a car and take a look sometime) and Kip Humphrey Mar 2016 #26
eeek! Hillary writing her own attack ad, once again. yourpaljoey Feb 2016 #2
Fast forward to speeches for Goldman and nothing has changed. libtodeath Feb 2016 #3
Indeed! NWCorona Mar 2016 #19
And we're expected to support this? n/t VulgarPoet Feb 2016 #5
"while I was working with folks on the streets seeing their jobs shipped overseas, you were GreatGazoo Feb 2016 #7
Ouch! NWCorona Mar 2016 #20
Great video BernieforPres2016 Mar 2016 #25
Be fair. It's clear this is populist code for I support a $15 minimum wage. Karmadillo Feb 2016 #9
The final paragraph nicely sums it up... Herman4747 Feb 2016 #10
Exactly. Union busting Hilli Vanilli cali Feb 2016 #11
She was well compensated cali Feb 2016 #12
Walmart, this country's largest firearms and ammo retailer? That Walmart? nt Snotcicles Feb 2016 #13
That is the one cali Feb 2016 #16
Always Low Wages n/t Wilms Feb 2016 #17
Kick for the Future of Feudalism. Octafish Mar 2016 #18
Oof. n/t Orsino Mar 2016 #22

Blue_Adept

(6,379 posts)
1. Walmart of the 80's is not the same as the walmart of the late 90's and beyond
Tue Feb 23, 2016, 09:12 AM
Feb 2016

This is the same as the whole "she's a goldwater" girl that just makes so many Sanders supporters look like they can't handle context.

But hey, another hour, another target hit from Cali.

 

cali

(114,904 posts)
4. Oh for fuck's sake. It was a union crushing behemoth and Hillary
Tue Feb 23, 2016, 09:14 AM
Feb 2016

was on the board for 6 years watching silently. She is a phony.

BernieforPres2016

(3,017 posts)
24. There are videotapes of 4 Wal-Mart Board meetings with Hillary present
Tue Mar 1, 2016, 01:01 PM
Mar 2016

where she never said a word about Wal-Mart's labor practices.

 

noamnety

(20,234 posts)
14. Walmart of the 1980's
Tue Feb 23, 2016, 10:19 AM
Feb 2016

Early 1980s

Attempt to unionize Wal-Mart distribution center

The attempt to unionize Wal-Mart's Searcy, Ark., distribution center fails; Walton threatens to remove the employees' profit-sharing plan if the union vote passes and warns that he has more than 500 potential employees lined up to take their jobs.

http://www.pbs.org/wgbh/pages/frontline/shows/walmart/transform/cron.html

 

noamnety

(20,234 posts)
15. Walmart of the early 90's (during her time as director)
Tue Feb 23, 2016, 10:21 AM
Feb 2016

December 1992

Made in America?

The NBC television series Dateline airs an investigation into Wal-Mart's "Made in America" and "Bring It Home to the USA" marketing campaigns. The show airs footage of children working in factories in Bangladesh to make clothes destined for Wal-Mart, as well as hidden camera footage of Wal-Mart stores with "Made in America" signs hung over imported goods. The program also profiles a sweater factory in North Carolina that was featured in a Wal-Mart "Buy America" ad but was forced to close when Wal-Mart found a cheaper distributor overseas. Wal-Mart CEO David Glass storms out of the Dateline interview, and according to former Wal-Mart store manager Jon Lehman, the stores are required to remove the "Made in America" signs overnight.

http://www.pbs.org/wgbh/pages/frontline/shows/walmart/transform/cron.html

Mufaddal

(1,021 posts)
21. Except they are still union-busting, still getting sued for sexism,
Tue Mar 1, 2016, 12:27 PM
Mar 2016

still rely on sweatshop labor, and still the country's largest gun dealer.

Oh, and her campaign just took $385K from Alice Walton.

BernieforPres2016

(3,017 posts)
23. The intellectual backflips Hillary supporters must do to justify supporting her
Tue Mar 1, 2016, 12:56 PM
Mar 2016

have got to be exhausting.

How do they live with themselves?

Kip Humphrey

(4,753 posts)
26. Walmart single-handedly destroyed rural America (get in a car and take a look sometime) and
Tue Mar 1, 2016, 01:09 PM
Mar 2016

that all took off in the '80's. Oh, and yes, Hillary was on board then.

yourpaljoey

(2,166 posts)
2. eeek! Hillary writing her own attack ad, once again.
Tue Feb 23, 2016, 09:13 AM
Feb 2016

Bernie better take the gloves off... we got a fight on our hands.

GreatGazoo

(3,937 posts)
7. "while I was working with folks on the streets seeing their jobs shipped overseas, you were
Tue Feb 23, 2016, 09:15 AM
Feb 2016

a corporate lawyer sitting on the Board of WalMart (applause)...I was fighting these fights..."

At 0:48 here:

BernieforPres2016

(3,017 posts)
25. Great video
Tue Mar 1, 2016, 01:03 PM
Mar 2016

That is a serious smack down, after the Goldwater Girl tried to smear Obama with an out of context clipped quote from Obama on Reagan.

 

Herman4747

(1,825 posts)
10. The final paragraph nicely sums it up...
Tue Feb 23, 2016, 09:24 AM
Feb 2016
According to former board members, Clinton did not denounce the ‘anti-union’ efforts Tate spearheaded, nor rail for increased employee wages. Donald G. Soderquist, the board’s then vice chairman, has said that not only was Clinton “not a dissenter,” but that “she was a part of those decisions.” Wal-Mart’s stock rose by more than 500% during her tenure and Clinton’s shares were worth nearly $100,000 by 1992.
 

cali

(114,904 posts)
12. She was well compensated
Tue Feb 23, 2016, 09:30 AM
Feb 2016

<snip>

Associated Press reported in 2006 that Mrs. Clinton was paid $18,000 annually plus $1,500 for each meeting she attended as a board member. The Clintons had $100,000 in Walmart stock, which was put into a blind trust after the 1992 election. The Clintons also flew for free on Wal-Mart corporate planes 14 times in 1990 and 1991, in preparation for Bill Clinton’s 1992 presidential bid.

<snip>
http://www.progressivepress.net/hillary-clinton-was-a-wal-mart-director-for-6-years/

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