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Pensacola Discussion Forum » Politics » Dow futures down as much as 400. China markets tanking. Oil below $30.

Dow futures down as much as 400. China markets tanking. Oil below $30.

+4
Markle
boards of FL
ZVUGKTUBM
Hospital Bob
8 posters

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Hospital Bob

Hospital Bob

http://www.cnbc.com/2016/01/15/wall-street-looks-to-dudley-speech-data.html

Hospital Bob

Hospital Bob

The Dow is now down 1700 points since New Year.

http://finance.yahoo.com/echarts?s=^DJI+Interactive#{%22range%22:%221mo%22,%22allowChartStacking%22:true}

ZVUGKTUBM

ZVUGKTUBM

Walmart is closing 269 underperforming stores and laying off 16,000 workers.

Walmart will close 269 stores this year, affecting 16,000 Workers
http://money.cnn.com/2016/01/15/news/companies/walmart-store-closings/index.html

http://www.best-electric-barbecue-grills.com

boards of FL

boards of FL

ZVUGKTUBM wrote:Walmart is closing 269 underperforming stores and laying off 16,000 workers.

Walmart will close 269 stores this year, affecting 16,000 Workers
http://money.cnn.com/2016/01/15/news/companies/walmart-store-closings/index.html




cheers


_________________
I approve this message.

Markle

Markle

ZVUGKTUBM wrote:Walmart is closing 269 underperforming stores and laying off 16,000 workers.

Walmart will close 269 stores this year, affecting 16,000 Workers
http://money.cnn.com/2016/01/15/news/companies/walmart-store-closings/index.html

Of which 154 are in the US and 10,000 workers are in the US.

Markle

Markle

boards of FL wrote:
ZVUGKTUBM wrote:Walmart is closing 269 underperforming stores and laying off 16,000 workers.

Walmart will close 269 stores this year, affecting 16,000 Workers
http://money.cnn.com/2016/01/15/news/companies/walmart-store-closings/index.html


cheers

This cannot be true, just ask 2seaoat, the economy is GREAT, couldn't be better.

We also typically have boards of FL CELEBRATING TEN THOUSAND PEOPLE being thrown out of the jobs, to be added to the unemployed column.

Progressives celebrating MISERY, YOU MUST BE SO PROUD!

dumpcare



Walmart's theory was "build them and they will come" one on every corner like church's. The smaller ones will close and the super one's and their e commerce business. Had nothing to do with the economy, had everything to do with overbuilding. 3 from GB proper to Navarre? How many in Pace and Milton? How many in Pensacola? Demographics change over the years.

Costco has it right.

ZVUGKTUBM

ZVUGKTUBM

ppaca wrote:Walmart's theory was "build them and they will come" one on every corner like church's. The smaller ones will close and the super one's and their e commerce business. Had nothing to do with the economy, had everything to do with overbuilding. 3 from GB proper to Navarre? How many in Pace and Milton? How many in Pensacola? Demographics change over the years.

Costco has it right.

3 Walmarts are within 4 miles of my house. The super Center on Mobile Hwy, the Market by the fairgrounds, and the smaller Walmart in Warrington. The Blue Angel Walmart is about 7 miles from here.

http://www.best-electric-barbecue-grills.com

dumpcare



ZVUGKTUBM wrote:
ppaca wrote:Walmart's theory was "build them and they will come" one on every corner like church's. The smaller ones will close and the super one's and their e commerce business. Had nothing to do with the economy, had everything to do with overbuilding. 3 from GB proper to Navarre? How many in Pace and Milton? How many in Pensacola? Demographics change over the years.

Costco has it right.

3 Walmarts are within 4 miles of my house. The super Center on Mobile Hwy, the Market by the fairgrounds, and the smaller Walmart in Warrington. The Blue Angel Walmart is about 7 miles from here.

In another article they are going to open more in 2017:

The Arkansas-based retailer said it would still open 142 to 165 stores in the United States in the year ending in January 2017. For the first time, it also disclosed plans to open 200 to 240 stores overseas in the coming year.

So has nothing to do with the economy but demographics. They just screwed up.

knothead

knothead

ppaca wrote:
ZVUGKTUBM wrote:
ppaca wrote:Walmart's theory was "build them and they will come" one on every corner like church's. The smaller ones will close and the super one's and their e commerce business. Had nothing to do with the economy, had everything to do with overbuilding. 3 from GB proper to Navarre? How many in Pace and Milton? How many in Pensacola? Demographics change over the years.

Costco has it right.

3 Walmarts are within 4 miles of my house. The super Center on Mobile Hwy, the Market by the fairgrounds, and the smaller Walmart in Warrington. The Blue Angel Walmart is about 7 miles from here.

In another article they are going to open more in 2017:

The Arkansas-based retailer said it would still open 142 to 165 stores in the United States in the year ending in January 2017. For the first time, it also disclosed plans to open 200 to 240 stores overseas in the coming year.

So has nothing to do with the economy but demographics. They just screwed up.

Costco has it right.


I agree pp, wish we had just ONE Costco here in P'cola . . . . .

TEOTWAWKI

TEOTWAWKI

Dow futures down as much as 400. China markets tanking. Oil below $30. Whistl10

2seaoat



Too funny. I have a friend who owns a shopping center where he has known for five years that the smaller spaced wal mart he built for them twenty five years ago was going to close and he was going to lose them as tenants. He died last summer, and now they are going to close the store. Connecting these closing to the economy is even funnier. Wal Mart has sophisticated models and planning which have little to do with what some think is important. He tells the story of old man Walton coming to the new store and getting involved in some parking lot issues......hands on twenty five years ago, and they have not built this incredible distribution just in time inventory system to start throwing darts at a map......they knew what they were doing with these closings over five years ago.

TEOTWAWKI

TEOTWAWKI

dumpcare



knothead wrote:
ppaca wrote:
ZVUGKTUBM wrote:
ppaca wrote:Walmart's theory was "build them and they will come" one on every corner like church's. The smaller ones will close and the super one's and their e commerce business. Had nothing to do with the economy, had everything to do with overbuilding. 3 from GB proper to Navarre? How many in Pace and Milton? How many in Pensacola? Demographics change over the years.

Costco has it right.

3 Walmarts are within 4 miles of my house. The super Center on Mobile Hwy, the Market by the fairgrounds, and the smaller Walmart in Warrington. The Blue Angel Walmart is about 7 miles from here.

In another article they are going to open more in 2017:

The Arkansas-based retailer said it would still open 142 to 165 stores in the United States in the year ending in January 2017. For the first time, it also disclosed plans to open 200 to 240 stores overseas in the coming year.

So has nothing to do with the economy but demographics. They just screwed up.

Costco has it right.


I agree pp, wish we had just ONE Costco here in P'cola . . . . .

There is an online petition for pensacola somewhere. You might google petition for costco in pensacola fl and find it to sign.

There was one on the drawing board just before Ivan to be built behind the dillard's at cordova mall. A few months after Ivan because of the economics, displacement's, the city or country so they pulled their plans.

My DIL came down from Mi to help and recruit when the tally store opened because of the plans for Pensacola and was going to transfer here when it opened. After those plans fell through and costco said definitely no to Pensacola they moved back to Mi, they hated tally and the people's attitudes up there, no not the students. Now they are an example of what happen's when a company pays a good starting wage. My son now works at their warehouse and she in a store. She has been with them about 12 years and makes $24 an hour and not management. When she worked in tally it was $20.00 an hour. I think she said she was hired in at $14.00 back in 2002.

Mobile was not even in the list of stores to be opened, but they lobbied and signed petition's and got one.

Markle

Markle

knothead wrote:
ppaca wrote:
ZVUGKTUBM wrote:
ppaca wrote:Walmart's theory was "build them and they will come" one on every corner like church's. The smaller ones will close and the super one's and their e commerce business. Had nothing to do with the economy, had everything to do with overbuilding. 3 from GB proper to Navarre? How many in Pace and Milton? How many in Pensacola? Demographics change over the years.

Costco has it right.

3 Walmarts are within 4 miles of my house. The super Center on Mobile Hwy, the Market by the fairgrounds, and the smaller Walmart in Warrington. The Blue Angel Walmart is about 7 miles from here.[/color]

In another article they are going to open more in 2017:

The Arkansas-based retailer said it would still open 142 to 165 stores in the United States in the year ending in January 2017. For the first time, it also disclosed plans to open 200 to 240 stores overseas in the coming year.

So has nothing to do with the economy but demographics. They just screwed up.

Costco has it right.

I agree pp, wish we had just ONE Costco here in P'cola . . . . .

Why do you say Costco has it right?

PLEASE do not quote the debunked email saying their minimum pay is like $14.00 an hour. It has been debunked numerous times.

Markle

Markle

2seaoat wrote:Too funny.  I have a friend who owns a shopping center where he has known for five years that the smaller spaced wal mart he built for them twenty five years ago was going to close and he was going to lose them as tenants.  He died last summer, and now they are going to close the store.  Connecting these closing to the economy is even funnier.   Wal Mart has sophisticated models and planning which have little to do with what some think is important.  He tells the story of old man Walton coming to the new store and getting involved in some parking lot issues......hands on twenty five years ago, and they have not built this incredible distribution just in time inventory system to start throwing darts at a map......they knew what they were doing with these closings over five years ago.

Retail sales DROPPED in December. I didn't see you throwing that out as proof that the economy was booming.

Retail sales fall again, end 2015 with whimper

Published: Jan 15, 2016 10:56 a.m. ET

WASHINGTON (MarketWatch) — Sales at U.S. retailers fell slightly in December, as 2015 recorded the slowest pace of gains since 2009.

Retail sales dropped a seasonally adjusted 0.1% last month, the Commerce Department said Friday. Economists polled by MarketWatch had forecast a 0.2% decline.

http://www.marketwatch.com/story/retail-sales-fall-in-december-end-2015-with-whimper-2016-01-15

dumpcare



http://www.nytimes.com/2016/01/16/business/energy-environment/oil-prices-one-million-barrel-glut.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region&region=top-news&WT.nav=top-news&_r=1

HOUSTON — The world is awash in crude oil, with enough extra produced last year to fuel all of Britain or Thailand. And the price of oil will not stop falling until the glut shrinks.

The oil glut — the unsold crude that is piling up around the world — is a quandary and a source of investor anxiety that once again rattled global markets on Friday.

As prices have dropped, the amount of excess production has been cut in half over the last six months. About one million barrels of extra oil is now being dumped on the markets each day.

But that means the glut is still continuing to grow, and it could take years to work through the crude that is being warehoused, poured into petroleum depots or loaded onto supertankers for storage at sea.

The shakeout will be painful, taking an even bigger toll on companies, countries and investors.

Global stocks sank sharply on Friday, as the price of oil slipped below $30 a barrel. The glut was at the heart of the tumult, as investors worried that the demand from China would drop and supplies from Iran would grow.

“The glut is the 800-pound gorilla in the room,” said Steve McCoy, vice president for drilling contracts at Latshaw Drilling, an Oklahoma service company that prospered in recent years from the American shale boom. “The world simply produced too much, and now we have to use it up or many oil-producing countries and some oil companies may drown.”

Just a couple of years ago, producers and petro-states were making vast fortunes drilling and pumping relentlessly to fuel expanding middle classes in Asia, Latin America and Africa. But suddenly they are producing more than anyone needs at a time when China and other rapidly growing economies, once hungry for energy, are pulling back.

The extra oil has sent the price of crude into a tailspin, down more than 70 percent over the last 18 months.

That, in turn, has helped depress stock markets around the world, as investors worry about global growth. The Standard & Poor’s 500-stock index is off around 8 percent in just the first two weeks of the year; European shares are down even more. Chinese stocks have dropped 20 percent from their December peak, putting the market in bear territory.

What was once viewed as a gift is now viewed similarly to the gift of the monkey’s paw,” said Tom Kloza, global head of energy analysis for Oil Price Information Service. “Global financial damages trump the benefits of cheap oil at anything under $30 a barrel.”

It could get worse.

The nuclear deal with Iran should allow the country to start exporting far more oil, once sanctions are lifted, potentially in a matter of days. Iran could add as much as 500,000 barrels a day to the global markets.

Tentative progress in negotiations between warring factions in Libya, battling for control of oil and export terminals, could unleash another flood. And Saudi Arabia, Kuwait and Iraq continue to maintain a pumping frenzy to grab Asian markets.

The United States is slowly cutting production. Major oil companies have dropped their rig count, and dozens of small businesses have gone bankrupt. But the industry cannot simply flip the switch on big projects, like deepwater production projects in the Gulf of Mexico, that require companies to keep pumping to cover their costs. Smaller companies have to keep producing from shale fields, even at a loss, to keep paying their lenders.

Advertisement

Continue reading the main story
Advertisement

Continue reading the main story
“Sheikhs and shale caused this,” said Scott Tinker, director of the Bureau of Economic Geology at the University of Texas at Austin. “They are both producing more oil. That is the fundamental driver.”

Read the link had trouble copying the rest.

dumpcare



Markle wrote:
knothead wrote:
ppaca wrote:
ZVUGKTUBM wrote:
ppaca wrote:Walmart's theory was "build them and they will come" one on every corner like church's. The smaller ones will close and the super one's and their e commerce business. Had nothing to do with the economy, had everything to do with overbuilding. 3 from GB proper to Navarre? How many in Pace and Milton? How many in Pensacola? Demographics change over the years.

Costco has it right.

3 Walmarts are within 4 miles of my house. The super Center on Mobile Hwy, the Market by the fairgrounds, and the smaller Walmart in Warrington. The Blue Angel Walmart is about 7 miles from here.[/color]

In another article they are going to open more in 2017:

The Arkansas-based retailer said it would still open 142 to 165 stores in the United States in the year ending in January 2017. For the first time, it also disclosed plans to open 200 to 240 stores overseas in the coming year.

So has nothing to do with the economy but demographics. They just screwed up.

Costco has it right.

I agree pp, wish we had just ONE Costco here in P'cola . . . . .

Why do you say Costco has it right?

PLEASE do not quote the debunked email saying their minimum pay is like $14.00 an hour.  It has been debunked numerous times.

Maybe she started with less I did say I thought she said, don't know what the hell email you are referring to:

The company pays a living wage. Costco's CEO and president, Craig Jelinek, has publicly endorsed raising the federal minimum wage to $10.10 an hour, and he takes that to heart. The company's starting pay is $11.50 per hour, and the average employee wage is $21 per hour, not including overtime.Nov 19, 2013

Actually my son started at a little more. Just last month. BTW my dil with her OT and not in management brings in about $55,000 annually. So don't say costco doesn't have it right.

Also they have it right because they study quite a while before going in. In the first year up there where you they had a rough time, people did just not come around like other location's. I'm not surprised though.

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