(Temporary) Respite for Wal-Mart and Exxon

I wonder if the board rooms of Wal-Mart and ExxonMobil are enjoying their probably temporary respite from being first to be set on by the pitchforks.  At least for now, I think the public has decided that there are worse things than companies that reliably provide essential products and services for single-digit margins and without taxpayer bailout money .

  • happyjuggler0

    that reliably provide essential products and services for single-digit margins and without taxpayer bailout money

    If I was going to write that, I would've added something else:

    that reliably provide essential products and services (and jobs in the process) , for single-digit margins and without taxpayer bailout money

  • Sean Wise

    I really think it odd at a time when the auto companies are loosing tens of billions and the oil companies are making tens of billions that some bright bureaucrat did not make a proposal to eliminate the excess oil profits by forcing them to buy the manufactures that consume their products. It would be just like the Kodak Corp. of the film days or the razor blade companies. Sell the cars at a loss and make it up on the consummables. Doesn't the FDIC force the sale of weak banks to strong banks to keep them from closing? (This is all tongue in cheek -- sorta.)

  • LoneSnark

    Well, if Atlas Shrugged is to be believed (I would have never considered such a phrase before recent events) then the next stage of collapse will be forcing profitable businesses to start supporting unprofitable businesses. Afterall, right now the government has enough money to waste bailing out failed businesses, but this will not always be the case as the cries against inflation grow louder, and accordingly the balanced budgets of good businesses will be too good to ignore. "Share the losses!" will be the cry.

  • LoneSnark

    Well, sure enough, some time later the following appears in Reason:
    George Will urges the U.S. Supreme Court to strike down an Illinois law that may be the next step in post-bailout, post-Kelo America: direct transfer of the profits of successful industries to the accounts of those that are failing. The Illinois law attempts to prop up the state's sagging horse racing industry by requiring the state's four most profitable casinos to simply hand over 3 percent of gross receipts to Illinois' horse racing tracks. The bill was recently upheld by the state's supreme court.
    http://www.reason.com/blog/show/132872.html