TunTavern Wrote:
Jan 25, 2013 7:58 PM
Wal-Mart has sent countless American jobs overseas: One example is Lakewood Engineering & Manufacturing Co. in Chicago, a fan manufacturer. In the early 1990s, a 20-inch box fan costs $20. Wal-Mart pushed the manufacturer to lower the price, and Lakewood responded by automating the production process, which meant layoffs. Lakewood also badgered its suppliers to knock down the prices of parts. Then, in 2000, Lakewood opened a factory in China, where workers earn 25 cents an hour. By 2003, the price on the fan in a Wal-Mart store had dropped to $10. Wal-Mart now has an entire division dedicated to sending American factories overseas, so that they can get lower prices. But we'll let them get away with it because we love cheap stuff.