Wal-Mart moves money out of communities
The Raw Story
01/05/06
According to a report by the Institute for Local Self-Reliance, $100 spent in locally owned businesses provides the town and surrounding area $44.60, while large retail chains only give back $14.10 to local communities, mainly in the form of wages and service. Therefore, local communities lose at least $30.50 for every $100 spent at Wal-Mart. For this holiday season, Wal-Mart's record-breaking sales mean staggering losses for Main Street, U.S.A.: $20.3 billion. Had that $66 billion been spent at locally owned businesses, it would have generated some $29.7 billion for local communities. However, thanks to Wal-Mart, that $66 billion translates to only $9.4 billion going into local economies...
http://tinyurl.com/85uae
Informant: Thomas L. Knapp
01/05/06
According to a report by the Institute for Local Self-Reliance, $100 spent in locally owned businesses provides the town and surrounding area $44.60, while large retail chains only give back $14.10 to local communities, mainly in the form of wages and service. Therefore, local communities lose at least $30.50 for every $100 spent at Wal-Mart. For this holiday season, Wal-Mart's record-breaking sales mean staggering losses for Main Street, U.S.A.: $20.3 billion. Had that $66 billion been spent at locally owned businesses, it would have generated some $29.7 billion for local communities. However, thanks to Wal-Mart, that $66 billion translates to only $9.4 billion going into local economies...
http://tinyurl.com/85uae
Informant: Thomas L. Knapp
Starmail - 6. Jan, 16:21
