Wal-Mart Stores, Inc., branded as Walmart, is an
American multinational retail corporation that runs chains of large discount
department stores and warehouse stores. The company is the world's second
largest public corporation, according to the Fortune Global 500 list in 2013,
the biggest private employer in the world with over two million employees, and
is the largest retailer in the world. Walmart remains a family-owned business,
as the company is controlled by the Walton family, who own over 50 percent of
Walmart. It is also one of the world's most valuable companies.
Wal-Mart has
so far failed to crack into one of the most congested cities in America; New
York City. Opposition to Wal-Mart is driven by Wal-mart’s history for ensuring
“prices that can’t be beat” by underpaying and overworking their employees.
Additionally,
there is fear from unions that the company’s low prices will hurt the profit
margins of other shops. Wal-mart has
been met with opposition in other cities such as Chicago but has managed to
pull through somehow. However, New York City is persistent.
In 2007, the
company’s then chief executive abandoned all hope for opening a store in the
city, saying “I don’t care if we’re ever there. I don’t think it’s worth the
effort.” Way to make Wal-mart roll back.
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