Richmond: Economy/Business/Real Estate

[wrldcoupe4]

haha I'm not a fan of Wal-mart, but I am a fan of a $570 million annual account coming to Shockoe Bottom!

[vdogg]

haha I'm not a fan of Wal-mart, but I am a fan of a $570 million annual account coming to Shockoe Bottom!

Walmart is evil, but it is damn hard to pass up $570 million on principle alone.

[burt]

haha I'm not a fan of Wal-mart, but I am a fan of a $570 million annual account coming to Shockoe Bottom!

There's no question that Martin's little green Geico has focused advertisers' eyes on the agency in Shockoe Slip. Martin is playing in the big leagues with the brilliant management of its accounts and potential clients have taken note.

[urbanvb]

Walmart is evil, but it is damn hard to pass up $570 million on principle alone.

Exactly. I really hope they are selected. If so imagine what other doors it may open for the Martin Agency?

[mclawsdrive]

Maybe after a year of good advertising for WalMart, Martin could start putting in subtle messages conveying the sweat-shop labor and tax-draining effect WalMart has on the country. Maybe do a commercial where all the Walmart employees tell you how much they love their jobs (as they stand in line to collect Welfare, Medicaid and food-stamps). I wonder how much money the federal government would save if Walmart - the nations largest employer, actually gave its employees full time hours and health benefits. I bet it would cut Medicaid spending by at least a third.

[burt]

You've been away too long, McLaw. W/B.

I think I heard yesterday on TV that Walmart has raised its minimum starting wage of slightly more than $10 an hour to $12. Maybe the Arkansas based company is beginning to listen to disgruntled employees.

Maybe Martin, in its presentation, suggested a turn-around in management/employee relations and that is why they are among the five finalist for the account.

[BGW]

Waiting to hear from the Walmart haters..........

Ask and ye shall receive: I don't care who handles their ads, I'm not setting foot in Wal-Mart again if I can help it.

[wrldcoupe4]

Agreed, it's still a big coup for Martin Agency if they can land the deal though.

[burt]

Ask and ye shall receive: I don't care who handles their ads, I'm not setting foot in Wal-Mart again if I can help it.

It's not my favorite store. In fact, I don't believe there is a single one in New York City, or at least in the borough of Manhattan.

But I have to admit that on my last trip to Richmond a year ago I sneaked into the Short Pump Walmart and bought myself some cheap pajamas. And I have bought produce from one of their stores in Vero Beach, Florida.

[BGW]

It's not my favorite store. In fact, I don't believe there is a single one in New York City, or at least in the borough of Manhattan.

But I have to admit that on my last trip to Richmond a year ago I sneaked into the Short Pump Walmart and bought myself some cheap pajamas. And I have bought produce from one of their stores in Vero Beach, Florida.

The damage Wal-Mart does on a daily basis is staggering, and that's all I'm going to say for now.

[wrldcoupe4]

Richmond based Saxon Capital is being acquired by Morgan Stanley....

[burt]

The damage Wal-Mart does on a daily basis is staggering, and that's all I'm going to say for now.

Without it, thousands would be without jobs. No body is required to work there nor even shop in the stores, but to outright condemn anything or anyone without allowing for some merit is not charitable, IMHO.

[mclawsdrive]

I don't want to hijack this thread into a discussion of WalMart, but did anyone else hear about their new policy on shoplifting? If I remember correctly, they will no longer press charges against those caught with less than $50 worth of merchandise on their first offense. I heard that this is due to the astronomical attorney costs WalMart pays out each year. That means you can shoplift $49.99 of merch every day until you get caught... wink ..wink.

I haven't tried this out because I haven't fully researched the new policy or the possible scenarios that could occur when caught. Also, I would be embarrassed even if I wasn't prosecuted because a crowd of WalMart shoppers would see me detained by security. Plus even $50 of free stuff isn't enough to make going to WalMart enticing to me.

Edited August 10, 2006 by mclawsdrive

[BGW]

Without it, thousands would be without jobs. No body is required to work there nor even shop in the stores, but to outright condemn anything or anyone without allowing for some merit is not charitable, IMHO.

This is not the place for this argument, but I will say that this: Those "thousands" of jobs are of very low quality and of often horrible conditions, and hardly balance out the economic, environmental, and even public safety damage Wal-Mart has wrought over the years.

But if people want to shop there, then so be it. The Chinese Government thanks you for your patronage.

[burt]

Well, I need new pajamas, and I'll go back to Walmart's in Short Pump in October to make the purchase. But if you come with me, McLaw, maybe you could do the shopping for me while I wait in the pick-up.

I'll buy you a drink at BANK in appreciation.

Richmond based Saxon Capital is being acquired by Morgan Stanley....

What is Saxon Capital? A brokerage house? Isn't Morgan Stanley already established in Richmond?

[wrldcoupe4]

Morgan Stanley works primarily with Commercial Real Estate, while Saxon is a mortgage lender company for residential, primarily for people with less than perfect credit.

[burt]

Morgan Stanley works primarily with Commercial Real Estate, while Saxon is a mortgage lender company for residential, primarily for people with less than perfect credit.

Isn't that also Capital One's raison d'etre? To provide cards to those with less han perfect credit?

[mclawsdrive]

I'll consider that offer Burt, the mojitos at BANK are very refreshing, although I might want something a little less 'summery' by October.

[wrldcoupe4]

Apparently the Mojito's at Havana 59 are really good as well.

[JWCJ]

As we all know, Richmond's economy has been growing in the past 3 years. This forum is to update and show Richmond's economic boom and to talk about more economic growth or challages that will, may, or may not come to Richmond or the Richmond Metro. This forum is also to talk about real estate booms and pops in the economy of Richmond. And also to talk about and update about businesses bringing money and jobs to the region, and helping Richmond become a better place. One of the businesses I'm looking at is Philip Morris and Meadwestvaco, what about you?

[urbanvb]

I will rename the business thread to reflect the changes and we can discuss here.

[skycity]

Why do you like Wal-Mart so much, BURT? They have helped to drive thousands of American manufacturing jobs oversees. Do you think big business should be able to do anything it wants just for the unalienable right to make shareholders happy at any cost? When Wal-Mart workers in one store tried to form a union they came in and closed down the store to put those workers in their place and make a point to all their other workers. THAT'S SUPPOSED TO BE AGAINST THE LAW. Why isn't the federal government looking into it? When will American workers stand up and take what's theres? Without Wal-Mart thousands might actually be able to get a GOOD job with GOOD pay.

Edited August 19, 2006 by skycity

[Cadeho]

America never developed a labor party. The government and businesses broke them up if they started to come together. It's always about their interests.

[BGW]

When Wal-Mart workers in one store tried to form a union they came in and closed down the store to put those workers in their place and make a point to all their other workers. THAT'S SUPPOSED TO BE AGAINST THE LAW. Why isn't the federal government looking into it?

Because Wal-Mart execs are big donors to the political status quo.

[burt]

Skycity, I don't recall saying I like Walmart. But I do like their cheap pajamas.

I think my point (beside the pj's) was that criticism should be countered with reason. Walmart most certainly has usurped business from small operators, though I'm glad to hear from Ashland area residents that it hasn't done the expected damage to existing shops there. Starting wage at most stores, if I'm not mistaken, was just raised to $12 per hour. And that's a helluva lot better than the miserable prevailing minimum. The management's closing down of a particular store because its employees wished to unionize is unconscionable. If, indeed, slave labor in foreign lands makes my pajamas I would be disgusted, but I am not convinced that is true after the bruhaha on this subject a few years ago. Did not Walmart contribute considerable financial aid in the Katrina disaster?

What's your feeling about K-Mart?

Edited August 19, 2006 by burt