by William White | August 26, 2013 1:34 pm
Walmart (WMT) is leading an effort that would bring jobs back to the United States.
The company is trying to bring together retailers, suppliers and government officials in an attempt to come up with ways to bring manufacturing jobs back to America. The company held its first U.S. Manufacturing Summit in Orlando last week, in an effort to capitalize on its “made in America” push. The summit was meant to get Walmart, 500 manufacturers, officials from three dozen states, eight governors and U.S. Commerce Secretary Penny Pritzker started on bringing jobs back to America. Walmart tried a similar push back in the mid-1990’s. That push failed because the company couldn’t get enough low-priced goods to sell to customers. The current movement may do a little better due to the rising cost of labor in Asia, oil and transportation, reports USA Today.
General Electric (GE) has joined Walmart’s made in America campaign. The company plans to invest $30 million and add 150 jobs in Ohio plants.
Some are skeptical of Walmart’s campaign.
“It’s a very positive PR move for the company,” Burt Flickinger III, president of retail consultancy Strategic Resource Group, told USA Today. “But it took two decades to unwind the American manufacturing base and it will take two decades to bring it back.”
Source URL: http://investorplace.com/2013/08/walmart-attempts-to-bring-manufacturing-jobs-back-to-america/
Short URL: http://invstplc.com/1nxCg1Z
Copyright ©2016 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.