“Wal-Mart’s low, low prices make life worse for millions”

From Chris Jonsson:

The Walton family owns 40% of the wealth in the US. They are working on owning more. The economy and public be damned.

Chris

Walmart’s Death Grip on Groceries Is Making Life Worse for Millions of People (Hard Times USA)
March 26, 2013 |

When Michelle Obama visited a Walmart in Springfield, Missouri, a few weeks ago to praise the company’s efforts to sell healthier food, she did not say why she chose a store in Springfield of all cities. But, in ways that Obama surely did not intend, it was a fitting choice. This Midwestern city provides a chilling look at where Walmart wants to take our food system.

Springfield is one of nearly 40 metro areas where Walmart now captures about half or more of consumer spending on groceries, according to Metro Market Studies. Springfield area residents spend just over $1 billion on groceries each year, and one of every two of those dollars flows into a Walmart cash register. The chain has 20 stores in the area and shows no signs of slowing its growth. Its latest proposal, a store just south of the city’s downtown, has provoked widespread protest. Opponents say Walmart already has an overbearing presence in the region and argue that this new store would undermine nearby grocery stores, including a 63-year-old family-owned business which still provides delivery for its elderly customers. A few days before the First Lady’s visit, the City Council voted 5-4 to approve what will be Walmart’s 21st store in the community.

As Springfield goes, so goes the rest of the country, if Walmart has its way. Nationally, the retailer’s share of the grocery market now stands at 25 percent. That’s up from 4 percent just 16 years ago. Walmart’s tightening grip on the food system is unprecedented in U.S. history. Even A&P — often referred to as the Walmart of its day — accounted for only about 12 percent of grocery sales at its height in the 1940s. Its market share was kept in check in part by the federal government, which won an antitrust case against A&P in 1946. The contrast to today’s casual acceptance of Walmart’s market power could not be more stark.

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