The Presidential Daily Brief

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  1. Wal-Mart Looks to Shift Some Jobs Back Home

    Flags waved, children sang, and a Wal-Mart executive promised to support the “good middle-class jobs… our country needs” at a recent Wal-Mart supplier meeting in Orlando. Wal-Mart is putting a new emphasis on stocking U.S.-made goods on its shelves and will announce today the opening of a factory in Rogers, Ark., that will make toy cars previously imported from China. While the company’s pledge to increase purchases of U.S.-made goods by $50 billion is good news for American jobs, Wal-Mart is no civic hero: shifting production to the U.S. also brings the company financial benefits in terms of reduced inventory costs. Plus, the pressure Wal-Mart exerts on its suppliers to lower costs suggests that the kinds of manufacturing jobs created may not exactly be of the “good middle-class” variety promised.

    Sources: WSJ (sub), Reuters

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