Multinational Monitor Editors Blog

Wal-Mart refuses to accept unions, regulations, leaves Germany

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Just as the Cheney-Bush White House seems to have a principled commitment to secrecy and the concentration of power — even when it serves no apparent purpose and generates lots of opposition — so too does Wal-Mart seem unwilling to make profits if doing so means the retail giant has to accept unions and some regulatory rules.

Today’s evidence: Wal-Mart has announced it is pulling out of Germany, at a $1 billion loss.

“It has become increasingly clear that in Germany’s business environment it would be difficult for us to obtain the scale and results we desire,” stated Michael Duke, Wal-Mart vice chair. “This sale positions us to increase our focus on the markets where we can achieve our objectives.”

The Financital Times reports here.

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July 28th, 2006 at 10:03 am

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