Citi Downgrades Stock Rating on Wal-Mart, Panics Market Over Employee Free Choice

Wouldn't this be considered manipulation, and is Citi in any position to manipulate anything at this point?


Citi Downgrades Stock Rating on Wal-Mart, Panics Market Over Employee Free Choice
By: Jane Hamsher Tuesday March 10, 2009 8:39 am


Who owns you, Blanche?

Today Citigroup lowered its rating on Wal-Mart from a buy to a hold because of the Employee Free Choice Act, "citing concern that legislation intended to make it easier for employees to unionize would raise the retail giant's labor costs and hurt its competitiveness."

This is startling for a lot of reasons, not the least of which is that they're downgrading the stock based on an assumption that a piece of legislation will pass that hasn't even been introduced yet.

The Citigroup analyst, Debora Weinswig, said Employee Free Choice (EFCA) "could be a significant drag to earnings."

It's hard to view this as anything other than a reckless and overt political act on the part of a company, Citigroup, that has made stupendously bad business decisions with dire economic consequences necessitating billions in taxpayer bailouts, at a time when the market can ill-afford it.

more...

http://firedoglake.com/2009/03/10/citi-downgrades-stock-ratings-on-wal-mart-panics-market-over-employee-free-choice/

Is the Pope Catholic? Seriously, it shouldn't even be a question. More like a fact of life like rain and snow.

...are CitiGroup, Wal-Mart, et al going to be the only ones Congress hears from?

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=5223321&mesg_id=5223321

It worked with the car companies...the workers are taking wage and benefit cuts.

I wonder who the Wall Street masterminds think will buy the shit Wal-Mart has to sell, when nobody has a job making enough money to go shopping anymore?

money and then kicks them in the teeth so they can't unionize. As a taxpayer who gave them money, I would like to go to Citi's HQ in NYC and start managing them. I own them...I want to work there. I know that I could not manage them worse than they did.

You folks in NYC should do this!!!!

That pisses me off so much!

Shiti has no business rating anything.

Wal-Mart's loss would be Sears', Target's and Costco's gain.

:eyes:

walmart will be FINE regardless of the new act...


i love how we are pretending people still wont be going to walmart to buy cheap poorly made garbage during a recession...


either way, walmarts sales will remain the same or increase... so whats the big deal?

your citizens.

nt

all the mom&pop stores have been eradicated... kmart & sears had to merge (and all the rest are struggling as well) just to survive. But we sure don't want anyone making a LIVING WAGE, for an honest days work... now do we?! :wtf:

from your cited source: