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Walmart’s heartening $50 billion 10-year commitment
February 6, 2013

Walmart’s President and CEO Bill Simon's encouraging speech: "Let's give them the nudge they need. Through our buying power, we can give manufacturers confidence to invest capital here — and play a role in revitalizing the communities we serve. ……If we can help create these jobs here, it will make us proud as Americans. But this is also just good business. For example, it's crazy that 70 percent of cotton grown in the US is shipped overseas, spun into products like towels, and then often shipped right back here. We can cut out two shipments across the world and weeks on the water and cut our costs in the process. We can save our customers money by employing more of their neighbors — why wouldn't we do this? “

 

"Today, I'm proud to announce that Walmart will buy an additional $50 billion in U.S. products over the next ten years — a timeframe that reflects the lead times for bringing facilities online. We've appointed a senior team within Walmart to lead this effort. And we've decided we will sign longer-term purchase agreements when it makes sense to give suppliers the certainty to invest here."

TTNA CEO Kerryn Caulfield simply says: “Australia needs a Walmart!” The media release can be found at this link: http://tinyurl.com/accgj59