Wednesday, March 28, 2007

New York Wins!

Well, sorta. Wal Mart seems to think that trying to crack into hte market will be too difficult so they're not bothered about whether they ever actually open there or not.

Frustrated by a bruising, and so far unsuccessful battle to open its first discount store in New York City, Wal-Mart Stores Inc.'s chief executive said, "I don't care if we are ever here."

H. Lee Scott Jr., the chief executive of the nation's largest retailer, said at a meeting with editors and reporters of The New York Times that trying to conduct business in the U.S.'s largest city was so expensive -- and exasperating -- that "I don't think it's worth the effort."

He said Wal-Mart executives have lobbied for a store in New York, but he remains unconvinced. "It's too hard to make money here," he said.

The winners are the other retailers and the various unions, who by stopping Wal Mart from entering the market are able to continue to make extra money by not having the competition.

The losers of course are the consumers, for those retailers and unions don't face the competition. So, the current power structure in New York wins, and all New Yorkers lose.

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