An epic showdown in the nation's capital. A giant – private – business versus officials who want to ensure higher wages for workers. At stake: thousands of jobs and a possible national precedent.
The issue? Walmart is now killing plans to build 3 stores in Washington, D.C. after lawmakers passed the 'living wage' bill, despite an ultimatum from the world's largest retailer, CNN's John Berman reports.
The bill forces big box retailers to raise worker wager to $12.50 an hour, 50% more than the city's current minimum wage.
Walmart told CNN it will review what to do about 3 more stores under construction in the city. The spokesman also said the company reconsider the future of all 6 stores if DC Mayor Vincent Gray vetoes the bill. The mayor has 10 days to decide.
If I were in charge of Wal-Mart, and the mayor passed the bill, I would close all my doors in DC as a statement that the government is out of control. I would also highly recommend Target, and all other large stores do the same.