Congressional Briefing Coming on the ‘Walmart Economy’
24/7 Wall ST - November 27, 2014, by Paul Ausick - U.S. Senator Elizabeth Warren (D-MA) and Congressman George Miller (D-CA) are scheduled to appear as speakers at a congressional briefing on Tuesday, November 18, to discuss a business model that some are calling the “Walmart Economy.”
The term refers to a business model “where a few profit significantly on the backs of the working poor and a diminishing middle class.”
Also appearing at the hearing are employees of Wal-Mart Stores Inc. (NYSE: WMT) who are members of the OUR Walmart group, as well as Carol Joyner, Director of the Labor Project for Working Families; Amy Traub of research firm Demos; and Carrie Gleason, an organizer at The Center for Popular Democracy.
According to a press release from OUR Walmart, “The briefing will highlight Walmart’s low pay, manipulation of scheduling and illegal threats to workers who are standing up for Walmart to publicly commit to $15 an hour and full-time, consistent hours.”
Senator Warren was recently named to the Democratic leadership team that will be put in place next January. She becomes the strategic policy adviser to the Democratic Policy and Communications Committee, a newly created position that the Democratic leadership probably thinks will serve as a bridge to the more liberal elements of the party. She was the driving force behind the creation of the Consumer Financial Protection Bureau following the financial crisis and has been a thorn in the side of the big banks ever since.