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Tuesday, July 1, 2008

On July 2

1566, Nostradamus died due to unforeseen circumstances.

1961, Ernest Hemingway blew his brains out. Before that he was fine. Then he was dead.

1962, Sam Walton opened the first Wal-Mart in his home state of Arkansas to try out his theory that he could make more money by selling produce with lower mark-ups. By 2006, Wal-Mart had a net income of $12 billion, equivalent to the GDP of a mid-ranking nation, and five of his children were ranked in the top 10 richest Americans.
Posted by Margo's Maid at 8:02 PM

4 comments:

Anonymous said...

Walmart is the greatest in exploiting it's workers..

July 2, 2008 at 3:47 PM
Orion said...

Was S Walton, in any way related to the Waltons of TV fame?

July 2, 2008 at 8:04 PM
Margo's Maid said...

Well spotted Mr anon - although on the surface, Wal-Mart appears to be some kind of "success story", the poor fool executives in charge probably have no idea that they have sown the seeds of their own destruction.

My understanding is that Sam was John Boy Walton's cousin. Following the early success of Wal-Mart, he bought their property below market value, sub-divided it, and sold up making a killing.

Grandma Walton moved to California where she ran a successful video store franchise, while many of the cousins turned to drug and alcohol.

July 2, 2008 at 11:01 PM
Col. Milquetoast said...

Although I'm sure Walmart would be proud to be called the greatest,they aren't. They are still far outclassed by the average pimp.

July 3, 2008 at 3:52 PM

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