This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Remarks By Walmart U.S. President And CEO Bill Simon At The U.S. Manufacturing Summit

Stocks in this article: WMT

"We're just staring at each other. And in some ways, that's what's happening right now.

"But if we make things, then we add value and change the equation.

"When a manufacturer makes something as basic as a light bulb, then the employees can afford a night out - to eat at a restaurant and go see a movie....and make their way to the middle class.

"So we need to make things in America.

"But I want to be very clear: I'm not saying we should turn inward or move business away from other places.

"This is not about our country versus other countries. We have a global economy, and the factories abroad will keep humming along, driven in part by a rising middle class around the world.

"But as you've heard today the next generation of production will need to be built closer to its consumption. And that creates an opportunity for all of us.

"With our global role, as America does better, the rest of the world will too.

"Now, the new manufacturing jobs may look different from the old manufacturing jobs: many of them will be higher skill and higher wage jobs.

"Instead of a lineworker walking around to inspect the machines, you might have a supervisor monitoring her iPad.

"These will be good jobs – the jobs in the middle that we need.

"And, as you heard, the 'multiplier effect' tells us that each new manufacturing job will lead to about three more jobs around it, creating even more opportunity in our communities.

Working Together to do More

"So Walmart has made a $50 billion commitment. But the retail industry together could drive so much more – ten times more.

"That's how we make a difference.

"We need all of us to look for these opportunities and to see the world through new eyes.

4 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,817.90 +7.84 0.04%
S&P 500 2,069.41 +5.91 0.29%
NASDAQ 4,754.8920 +41.9220 0.89%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs