Word: marteli
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More important, the jobs being wiped out at giants like Kodak, McDonnell Douglas, IBM and General Motors are far better paid than the jobs opening up at companies still growing rapidly. Wal-Mart, the discount-store chain, created more jobs in the first 30 months of the recovery than any other company in the country, but they generally pay only about $5 to $9 an hour. PepsiCo is still expanding, but most of the new jobs are for those who feed the ovens at the company's Pizza Hut, Taco Bell and KFC fast-food restaurants. Result: many people...
...companies with a foothold in Mexico's market of 88 million people have ambitious expansion plans there regardless of NAFTA's fate. Dallas-based Southland Corp. operates 180 7-Eleven stores with joint-venture partners in Mexico and will open 20 more by the end of the year. Wal-Mart opened a block- long supercenter in Mexico City in September, along with five Sam's Clubs warehouse stores. The Arkansas-based company is completing a second supercenter in Monterey, Mexico, this month, plus two more warehouse clubs. Rival K Mart will open its first Mexican store in 1994, and plans...
...backlash against Wal-Mart and other discount retailers...
...while the grass-roots groups congratulate themselves and advise neighboring communities to follow suit, other citizens, like the 2,845 Greenfield residents who voted in favor of Wal-Mart, feel less euphoric. They had been looking forward to the economic boost the store could have provided. "The town of Greenfield could use the jobs," says Alfred Havens, president of the town council. Major retailers are big job generators in today's economy. Wal-Mart is the nation's second largest private employer after General Motors...
Recent studies also weaken the argument that the large retailers hurt the economy of the communities. Kenneth Stone, an economics professor at Iowa State, conducted a study of Iowa towns with Wal-Marts and found that while the number of small retailers did decline, other business was attracted to the area. "Apparently Wal-Mart stores attracted customers into town from a greater radius than had occurred before their entry," Stone says...