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Saint Wal-Mart? Well, Let's Look at the Record

Wal-Mart deserves the 2008 Nobel Peace Prize. And the Vatican may want to beatify the world’s largest retailer.

CONSIDER THAT WAL-MART:

  • Provides employment to 1.9 million people; the best defence against poverty is a job.

  • Creates thousands of job opportunities for people in developing countries like China and India; this keeps hunger at bay in many households.

  • Doles out hundreds of millions of dollars each year in dividends that help fund the retirement of millions of people; the company had sales in excess of $348 billion and a net profit of $11.3 billion in 2007.

  • Sells food, clothing and other necessities to Canadians, Americans and others at prices that are 15 to 25 per cent below what other supermarkets charge; this helps millions of low-income families stretch their dollars.

  • Pushes the inflation rate down and helps keep interest rates low; this comes in handy for millions of families when borrowing to buy a house or household appliances.

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March 31, 2009