Walmart

[Just the facts]

Just because it is a profitable company, doesn't make it a good company.

Wal-Mart?s newest scheme to ruin the middle class - Salon.com

I caught the Walmart CEO on CNBC last week hyping this program while at his Orlando manufacturing summit. If that guy believes half of what he says he is borderline insane, but I suspect he personally doesn't believe it, he just puts it out there for the people who will believe it.

Let me give you an example just in case you think I am concerned for no reason.

Last week he talked about how his stores are great for jobs and has been one of the brightest spots in the recovery. Then he talked about how much Walmart was investing technology at the stores and how it would increase productivity. Both sound great - lots of good jobs and upgrading the technology to increase productivity. The problem is, the technology he is talking about is going to replace the jobs he was talking about.

Then he talk about how we need to rebuild the middle class, as if Walmart was going to lead the way in that. But when asked about the minimum wage he didn't say he was against increasing it but he sure didn't support the idea. Then in defending his own companies low wages he said every one needs a place to start. Well which is, does Walmart (the great job creator in the recovery) support low wage jobs or rebuilding the middle class - because you can't do both at the same time when you are the largest employer in 33 states.

CNBC Exclusive: CNBC Transcript: Wal-Mart CEO Mike Duke Speaks One-on-One with Maria Bartiromo Today