Headlines

Headlines for today…

CHICAGO - The discount retailer Kmart Holding Corp. is combining with one of the most venerable names in U.S. retailing, Sears, Roebuck & Co., in an $11 billion deal that will create the nation's third largest retailer. And that means what, to you and I?

It means our trade deficit with China will grow even larger and more jobs will be lost in our country. I can say that after watching Frontline last night and their special “Is Wal-Mart Good for America?” Sears will now aggressively pursue Wal-Mart and that means an increase in Sears’s purchases of Chinese goods as well as an increase in Wal-Mart’s, as they strive to maintain their lead.

If you didn’t see Frontline last night, you should visit the website and read some of the articles there.

http://www.pbs.org/wgbh/pages/frontline/shows/walmart/

As one economist said, “you can’t have the lowest prices without paying the lowest wages…” Seems elementary to me…