Walmart, Wages War in Chicago (Guess Who Won)
After years of trying to land a second Walmart in Chicago, the world’s largest retailer succeeded in a big way yesterday when the City Council unanimously endorsed a Supercenter on the Far South Side, the anchor of a 270-acre mixed-use development. While only a few months ago the outcome of that store seemed uncertain, it all broke last week, when the unions reached a tentative agreement with Walmart to pay $8.75 an hour in its stores, more than the current minimum wage but less than was initially sought. On top of that, the retailer has cast doubt on whether a surefire deal has been set. Meanwhile, the city is bracing for the prospect of dozens of stores, through a deal arranged by Mayor Richard Daley, both a bane and a boon as it could mean an investment of $1 billion though also a costly one if it undercuts current retailers. The Sun-Times‘ incomparable Fran Spielman spells it all out for us: Read More
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