Hilarious Irony As Former Wal-Mart US CEO Complains Amazon "Puts Retailers Out Of Business With Low Prices"
Wal-Mart is making headlines again in the ever-present struggle between the "small, mom & pop retailer" and the "monopolistic, price-slashing juggernaut." Only this time, Wal-Mart is playing the part of "Mom" (or Pop.)
This has got to be a square on my "Apocalypse Bingo" card.
Thrust back into the popular conversation thanks to recent Tweets by our Twitterer-In-Chief, Wal-Mart is showing they, too, can adapt to a changing culture wherein the prevailing strategy is to find a way to claim a grievance of some kind and ride it all the way to the victim Olympics.
I can't argue with his main point, to be honest. If the Post Office loses money serving Amazon, they should charge more. They should probably be charging more across the board, anyway.
However, never one to let a crisis go to waste, former CEO of Wal-Mart US Bill Simon took the opportunity to pile on when he appeared on CNBC recently, with objections to Amazon's business plan including "They're not making money in retail, and they're putting retailers out of business..." Oddly enough, one's competitors operating at a loss (in a fundamentally unsustainable business strategy) is not one of the corporate world's more frequent complaints.
Bill went on to lament the practice of undercutting competitors as "anti-competitive, predatory, and destroying value." He may be right on that final item, but it's the shareholder's (of Amazon) value to destroy, I suppose.
Bill better be careful what he wishes for, because if profit is suddenly a requirement for corporate value, Tesla is going to have some 'splaining to do. After all, profit is the only reason we let the Leviathan he once helmed operate at all.
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Sources: Google, CNBC, ZH, Twitter
Copyright: SmartSteem, PALNet, SPL, Star Wars, Wal-Mart, Brand-channel.com
Thanks for the great post. The irony here truly made me laugh. When a super Walmart opened up in my hometown, they added more groceries to the original Walmart in order to put the neighboring grocery store out of business. They successfully put that grocery store out of business, and the one that moved in after them. Then Walmart acquired their lot and built our towns second super Walmart. So I can truly appreciate the irony here. Thank you for sharing this with us.
well amazon certainly an efficient and cheap service to the customer and the system don't care about monopoly, that's how the system works "survival of the fittest" unless if we don't like the how it played, then it's time to turn the table upside -down .
Well, Amazon has the Washington Post, but Walmart has these:
Amazon has the Washington Post has the CIA. I think spooks have significantly more power than few lobbyists, especially since the CIA has endless black budgets and aren't accountable.
In every business there's we called competition. Walmart should play the game fairly, if they cant compete the prices then they will resort to a new business strategy to cutoff the big difference in price bet amazon & walmart. Bullying tactic is not the best choice.
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Have you still not figured out this isn't working for you?
You're a fucking pariah, 1 repper.
I think Amazon will be the first huge megacorp to create their own cryptocurrency. They are already half way there with Twitch bits. We are entering the age where corporations have way more power than governments.
I think it's hilarious that Walmart has anything to say about business ethics. They're just jealous they're an inferior company.
classic!!! so true.. it boggles the mind to think wall mart would vocalize this...
They Walmart used to be masters at this game until the arrival of Amazon.Walmart should not complain because just like they put many small shops out of business they are getting a dose of their own bitter medicine from Amazon
😂
Classic.
Next up: government to complain about interest rates; inflation from excessive money printing.
This is hilarious and I'm being sincere! on the other hand walmart is moving to an aggressive online platform...
I would like nothing more but to see these stores fail, i swear.
Well we as consumers should be happy for having low prices aren't we?
If those big companies want to destroy each other's by offering the consumer more for less, then so be it, better for us.
As long as you aren't under the sign when the rollback happens!