America’s news media reports that today over 90 percent of the products on Walmart’s shelves are manufactured in foreign facilities. In fact, if the products they buy are not purchased directly from foreign sources, they are purchased from the many companies that Walmart forced to begin manufacturing their products in foreign countries.
This is a problem that was initiated not recently, but the day Sam Walton opened the doors of his very first store. Unfortunately for America, Walmart’s dishonorable tactics have allowed its growth to out-strip that of all other retailers, and in so doing they are perhaps the single-greatest contributor to the ugly state of today’s American economy.
It is no secret that Walmart’s tactics eliminated our country’s previously successful tier of “mom and pop” retailers. It was this group that almost solely sold American-made products, and in turn supported America’s manufacturing industry. But the vast majority of “mom and pop” operations are things of the past. And, Walmart, having destroyed this segment of America, has since moved on, setting its sights on America’s manufacturers, demanding that they price their goods competitively with the sweatshops in China and other foreign lands.
This attitude has left America’s industry with three choices: (1) Continue to sell American-made products to Walmart, but do so at a loss, (2) Establish foreign manufacturing sources, or (3) No longer call upon Wal-Mart. Each of these choices has contributed to the closing of too manyAmerican manufacturing facilities and the accompanying release of their respective workforces.
Unfortunately, the resulting out-of-work segment continues to feed at Walmart’s trough of “everyday low prices,” and in doing so, is supporting Walmart’s circle of life. In reality, all of America should “watch out for Wal-Mart’s falling prices,” because as each one falls, it’s because a toll has been taken on an American or an American product.
The tragic results of Walmart’s business practices are graphically explained in a new book that chronicles seven years of the author’s life as a Walmart vendor — one whose company was eventually forced to close its doors and release its more than one hundred employees. The book is entitled, Wal-Mart’s EGOnomics – Always – The Greed Behind the Smiley Face, and to date its book reviews have been truly exceptional.
ForeWord Reviews awards the book its highest honor, FIVE STARS (out of five) and further calls it “an incredible book.” Kirkus Reviews lauds it as “a true corporate David and Goliath story from an insider’s perspective” and says, “After reading this book, it will likely be difficult for the reader not to accept the author’s claim that Walmart is a corporate villain.”