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| -Land of the Free |
| Walmart to make $350 billion investment over the next decade in U.S. manufacturing |
| 2021-03-05 |
| [MarketWatch] Walmart is also launching a program, American Lighthouses, that will provide regional support for U.S. manufacturers Walmart Inc. WMT, -0.42% announced a plan on Wednesday to expand its investment in U.S. manufacturing, with a $350 billion commitment over the next 10 years. The retail giant says the investment could support more than 750,000 American jobs and have environmental benefits, reducing as many as 100 million metric tons of CO2 emissions as merchandise is produced closer to shoppers. Walmart also expects benefits for small businesses and more diverse suppliers. Walmart is targeting six categories: textiles, plastics, small electrical appliances, food processing, pharmaceutical and medical supplies, and Goods Not For Resale (GNFR), which the company defines as items like equipment and fixtures that will be used at Walmart and Sam’s Club locations. The investment builds on a previous $250 billion commitment made in 2013 for items grown, manufactured or assembled in the U.S. In a post on Walmart’s blog, John Furner, Walmart U.S. chief executive, traces the program back to 1985 when the "Bring it Home to the USA" initiative was launched. "U.S. manufacturing really matters. It matters to our suppliers, to entrepreneurs and to the environment," Furner wrote. Walmart is also launching a program, American Lighthouses, that will gather manufacturers as well as experts in academia, local groups and others to offer regional-based counsel to overcome manufacturing challenges. More than 85% of customers have said it’s important for the retailer to stock items made in the U.S., according to data Walmart provided. Maybe they're getting wise. One can always hope. Walmart stock has slumped 14.3% over the past three months, but has gained 9.3% over the last year. |
| Posted by:Abu Uluque |
| #3 reducing as many as 100 million metric tons of CO2 emissions as merchandise is produced closer to shoppers. Whoa! It took Walmart to figure that out? |
| Posted by: Bobby 2021-03-05 16:23 |
| #2 Vertical Antitrust Rules will put a stop to this. |
| Posted by: magpie 2021-03-05 15:00 |
| #1 Might run afoul of China's Western Colonies Administration in Washington, DC... |
| Posted by: Glenmore 2021-03-05 10:33 |