First Apple, now Walmart. Looks like every CEO is looking to tank their company through finance just like their hero Jack Welch did to GE.
I assume they’ll encourage their employees to take out loans…
You stock 16 shelves,
and what do you get?
Shit should be illegal. Bring back laws against usury
How long until employees are simply paid in Walmart points?
Or their paychecks have whatever they currently owed automatically deducted… requiring loans to make it to the next check.
Oh oh! I’ve seen this episode! Before the reboot they called it “company scrip”.
The theme song was a banger too!
The line “another day older and deeper in debt” from the chorus came from a letter written by Travis’s brother John.[2] This and the line “I owe my soul to the company store” are a reference to the truck system and to debt bondage. Under this scrip system, workers were not paid cash; rather they were paid with non-transferable credit vouchers that could be exchanged only for goods sold at the company store. This made it impossible for workers to store up cash savings. Workers also usually lived in company-owned dormitories or houses, the rent for which was automatically deducted from their pay.
I’m gonna regret not taking out way more debt than I can ever afford to pay off when the government erases loans for the millions of folks who are falling for this, won’t I?
Nah, there will probably be a bipartisan compromise passed to bailout WalMart by buying this debt for the sake of “the economy” and then authorizing the government to start collecting on it by garnishing people’s paychecks and social security payments and food stamps for the sake of “the deficit”
