Word: wals
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...city showdown with Chicago?s ?big box ordinance,? Target announced today that it was scrapping plans to build a store on the city?s North Side. Big-box ordinances, a relative of living-wage laws, require large retailers like Target, Home Depot and Wal-Mart to pay a minimum wage closer to $10 an hour versus the Federal minimum of $5.15 and in some cases offer health coverage. The ordinances have become popular in big cities, a relatively unexploited market so far for big-box retailers. But are the ordinances ultimately hurting the very city residents they allege to protect...
...stores claim that the laws drive up the costs of doing business in the city, and ultimately deprive residents of services, low prices and jobs. There also is the race factor. In Chicago, like in many big cities, the most overlooked neighborhoods are often predominantly black. Wal-Mart has sought to score points and profits in the black community, but on its own terms - the company made a hard sell to black neighborhoods in Chicago and Los Angeles, where residents are desperate for big stores. Earlier this year, the company announced its ?Jobs and Opportunity Zone Initiative,? a campaign...
...Chicago, big-box retailers have been successful on a site-by-site basis. But the City Council vote - a 35-14 drubbing - takes the issue citywide. Furthermore, retailers like Target and Wal-Mart have to answer to their shareholders, who demand growth. ?The cities are really the last frontier for big-box retailers,? says Arindrajit Dube, a research economist at the University of California, Berkley. ?The only place they are growing is global, but the urban market is just too lucrative for them to ignore...
...Hourly minimum wage required of big retailers--such as Target and Wal-Mart--in Chicago under an ordinance passed by the city council last week...
...leading producer of machine-woven carpets in the world. From a string of factories in the industrial 10th of Ramadan City, 34 miles northeast of Cairo, Oriental Weavers ships 70 million sq. ft. of carpets a year, yielding $280 million in revenues. Its customers include such retailers as Wal-Mart, Home Depot, Ikea and Carrefour. With 63% of the shares held by the Khamis family, the firm has a capitalization of $600 million...