Wal-Mart's stock was downgraded by a Citigroup analyst on news that the EFCA/card check would be introduced today. If passed the bill is seen to be particularly harmful to Wal-Mart. It is anticipated to dramatically increase labor costs which in turn will be passed onto consumers.
"We believe that WMT would be the primary target if EFCA/card check were to be passed," analyst Deborah Weinswig wrote in a note to clients. If the unions are successful, the company would have to concede higher wages for more seasoned employees, increase employee benefits significantly, and would experience diminished workforce flexibility, the analyst said.
If it passes, all of us poor working folk who shop at Wal-Mart can thank Senators Mark Pryor and Blanche Lincoln. Yup, just when people are struggling in a bad economy the Democrats just have to make sure that you suffer even more.