From Eric Schaal in Wall Street Cheat Sheet, the story of Charlene Flether, mom and Walmart employee.
Fletcher earns above the California minimum wage of $8 per hour, her $9.40/hr lands her squarely in the category of working poor (she earns less than $1,500 monthly after taxes). Stacked up against CEO Michael Duke’s annual take of $35 million a year, the moms working at Walmart this Mother’s Day have a reason to be disgruntled.
You cannot live on minimum wage. Besides a board of directors filled with loons, what does Duke do that deserves $35-million a year? Walmart’s stock is up a modest 29-percent since 2003.
What’s wrong when the world’s largest retailer cannot pay employees enough money to live?