Unions and Employee-Owners
“To say because some unions do some things they shouldn’t do, therefore, there should be no unions, is a logical fallacy.
“As a union member myself, the main problem I see with my union is they protect some bad workers who should be let go. However, they also insure that there is due process so that a good worker isn’t fired [without cause].
“If management always treated labor fairly, there would be no need for unions. Unions rose out of labor abuses and are responsible for labor laws.
“Take a look at countries that have no unions — how’d you like to work for those wages?”
And a reader sent in a couple examples of employee owned businesses in the U.S.:
“A local favorite here in Fort Collins: New Belgium Brewing Co. The founders started in the basement of their home in 1991.
“[Sporting goods retailer] Scheels, started in 1902: An employee at our local 250,000 square-feet location in Colorado told me that the company’s stock ownership plan has minted more than a few millionaires among the firm’s employee-owners.”
Check back Monday for more opinions, including a reader who says: “Capitalism takes advantage of… weakness.”
Your Rundown for Friday, Aug. 16, 2019:
Watch Your Step, Amazon
E-commerce giant Amazon seems like a retail black hole, sucking the living daylights out of mall anchors like Sears, JC Penney and Macy’s. (As a Gen-X child of the 80s, I could wax nostalgic on the glory days of malls. I’ll spare you.)
But try as it might, the Bezos’ behemoth can’t… take out… Walmart.
The biggest store on earth has managed to stay relevant with the masses way better than Madonna has. (The whole child of the 80s thing again.)
For proof, we look to Walmart’s latest earnings report. “Walmart’s e-commerce sales during the fiscal second quarter were up 37%, in line with what it delivered in the prior period,” CNBC reports.
As for challenging Amazon’s delivery game: “[Walmart] said it already achieved its goal of reaching 75% of the U.S. population with a next-day delivery option, something it was previously hoping to do before the year was over.”
And while Amazon bought Whole Foods — and doesn’t seem to know what to do with it — Walmart’s busy stepping up its grocery game, growing its curbside pickup and delivery options.
“Bottom line: Walmart should be singing from the rooftops, and other retailers should use them as a North Star for how to do digital right,” says Jon Reily of commerce strategy firm Publicis Sapient.
Walmart shares were up 5% yesterday; Walmart’s killing it. So if you’re looking to get defensive — think consumer staples, etc. — why not go with the retailer that carries the brands consumers want? With options at convenient locations or delivery?
Walmart’s not going the way of other beaten retailers anytime soon.
Market Rundown for Fri. August 16, 2019
S&P 500 futures are up 24 points to 2,871.29.
Oil’s up 23 cents to $54.70 per barrel.
Gold’s lost $6.50; it’s priced at $1,524.70 per ounce.
Bitcoin’s down $166.04 to $10,147.56.
Have a great weekend. Check out Saturday’s issue of The Rundown.
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