January 24, 2013
After experiencing the high tides of the Great Recession and the recently averted fiscal cliff in the country, Wal-Mart Stores Inc. (NYSE: WMT) [
Full Research Report
recently announced that the company has a two-pronged strategy for a brighter economy. Wal-Mart is racing to generate more jobs and to grow its purchase of US-manufactured products. By bringing back the jobs to US and by promoting "Made in USA" goods, the White House agrees that Wal-Mart's commitment can make a difference.
Wal-Mart is set to closely work with First Lady
and her team to achieve its goals. The company expressed its great interest in hiring 100,000 honorably discharged military veterans over the next five years. The number may be relatively small, but this is just the beginning. According to Wal-Mart US President and CEO
, the company might already be the largest private employer of veterans in the country. "Hiring a veteran can be one of the best business decisions you make. They are quick learners and team players," he said.
The company's bold move to further help the veteran community coincides with its decision to purchase
worth of American products over the next 10 years. Wal-Mart executives are set to meet with suppliers to forge their purchasing commitment. Aside from the White House, a number of governors have already shown support to the company.
Despite Wal-Mart's good intentions, the negative comments seem to be piling up. The competition in the market should matter more than the alleged "PR stint" that the company is planning to deliver over a decade. E-Commerce is a threat that must be underscored to help Wal-Mart and the industry, but the negation of Wal-Mart's goodwill seems to matter more to some groups. It may be another stint to advance in the competition - there's no way to determine. What matters is the green font for Wal-Mart on large screens which seem to say otherwise. Wal-Mart's decade-long plan will surely prove its detractors wrong as the company helps in healing the bleak economy, supporting our modern heroes and rallying by a significant number of points over the next 10 years.