‘Card Check’ Already Undermining Economy As Wal Mart Stock Downgraded

The 1979 film Apocalypse Now was about the nightmarish madness of war and its effect upon those caught up in its insanity.  The 2009 union measure known as ‘Card check’ is about the nightmarish madness of liberalism and its effect on the economy and those businesses targeted for the ravages of unionization.

And according to Citigroup, Wal Mart is one of those businesses caught up in the insanity of liberalism, and is therefore less valuable as a result:

Wal-Mart downgraded to hold by Citi on union bill fears
By Steve Goldstein
March 10, 2009
LONDON (MarketWatch) — Wal-Mart Stores (WMT) was downgraded to hold from buy at Citi, with the broker saying a bill before the House of Representatives would greatly simplify the process of union formation, limit the ability of employers to caution employees against unionization and impose several restrictions on the bargaining process. “We suspect that Wal-Mart would be the first target for unions like the UFCW is this legislation is passed,” the broker said.

Every industry overtaken by unionization has gone down the toilet as a result: the auto industry, the steel industry, the airline industry, and pretty much every manufacturing industry in the country.  And other occupations such as teaching haven’t gone down the toilet only because even the worst schools are protected by government – but the quality of education has gone down dramatically as teachers’ unions have sabotaged the educations of children to advance themselves.

And now they’re about to be able to come after virtually any industry or field they want.

The downgrading of Wal Mart’s stock hurts every employee in the company because Wal Mart does profit sharing – and the downgrade from “buy” to “hold,” and the slide from $53 to $48 – will hurt workers.

If unions get in the door at Wal Mart, wages will go up, jobs will go down, prices will go up, and customer service will go down as a result.  Company profitability and competitiveness will certainly go down.  In other words, we’ll all end up paying for it.

Ironically, prior to the fear induced by card check, Wal Mart was one of the few companies that was continuing to remain profitable during the economic downturn.  Thus Wal Mart stands as an embodiment of the fact that liberals can’t help the economy, but they sure as hell can ravage it with their idiotic policies.

Think about it: our economy is tanking.  Unionized industries like the auto manufacturers have already been heavily subsidized by the government, and are in the process of crying for more bailout billions as we speak.  Meanwhile, companies like Wal Mart that have been able to continue to turn a profit are now getting stabbed in the back merely on RUMORS that Democrats are going to pass pet legislation to benefit their big union contributors.

The new ‘Apocalypse Now’ story is how insane liberals blew up the American economy and turned once-valuable company stock into charred piles of ashes.

If a company as large and powerful as Wal Mart can be taken down a notch just with fears of what card check MIGHT do to them, imagine what it will do to the millions of much smaller businesses across the country when it becomes law.

2 Responses to “‘Card Check’ Already Undermining Economy As Wal Mart Stock Downgraded”

  1. Bill MacLean Says:

    Is it time for ‘Right to Work’ in Canada, Ontario?

    As we watch the governments of the US and Canada doing back flips to ‘save’ the big three some things are becoming obvious.  The first is that there is hardly a word about the non-unionized companies in that sector.  They are also very large employers.  Are they in similarly disastrous conditions and we just don’t care, or is there something else?  Is it possible, that the unworkable system of large unions ultimately makes companies and entire industries so uncompetitive they cannot compete nor really satisfy the demands of the marketplace?  Rudimentary reading of economics books describes the effect of cartels on the market they serve.  Invariably, prices go up and quality and level of service go down.  That is why most sophisticated nations have laws against the establishment of these cartels (including Canada and the USA).  For some reason over the years we have chosen to exempt labor from Cartel classification.  This might have been reasonable in the distant past but not any more.

     

    Read more

  2. Michael Eden Says:

    Bill,
    Unions make businesses just as uncompetitive in Canada as they do on the southern side of the border. Every industry that has unionized has either died, or is so floundering that the government has to step in. And of course the government by stepping in “protects its own,” in the sense of keeping the unions going.

    The unions ARE a cartel. And they impose an agenda on businesses that makes them unable to compete with non-unionized businesses. So what do liberals want? Unionize EVERYONE, so EVERYONE is equally uncompetitive and dysfunctional.

    But then, other countries that don’t have union BS to deal with are then so much cheaper and better. So what do liberals want? “Buy American,” or “Buy Canadian,” with tariffs or policies that allow their dysfunctional unionized businesses to compete.

    It makes me wonder if the dinosaurs and the dodo birds had unions…

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