"Trickle-Down Economics/Oligarchy STRIKES BACK" Walmart To Buy Bonobos For $310M

SirReginald

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Full article in the link. Crony-Capitalism and greed strikes again :snoop:

Walmart to buy Bonobos for $310M as it doubles down on fashion
Posted 1 hour ago by Ingrid Lunden (@ingridlunden)
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bonobos-sweaters.jpg


Walmart today doubled down on its efforts to continue building out a online retail fashion business in its bid to outpace Amazon in the wider world of commerce and specifically e-commerce. Today it announced that it would acquire menswear site Bonobos for $310 million in cash.

The deal is part of a bigger strategy at Walmart, the world’s largest physical retailer, to grow its e-commerce business, partly to offset competition from Amazon. But — perhaps in a very intentional bit of timing — almost at the same time that Walmart announced its Bonobos acquisition, Amazon announced it would be buying Whole Foods for $13.7 billion, giving it a very, very significant leg up in its budding food retail business. That underscores even more how important it is for Walmart to continue expanding into new areas.

In fashion specifically both have been making several acquisitions and launching labels to expand their customer bases.

Walmart’s Bonobos deal follows and complements several other acquisitions that the retail giant has made in the area of online fashion. They include Modcloth in March 2017, outdoor retailer Moosejaw for $51 million in February 2017, Hayneedle in March 2016, and Zappos-style shoe retailer ShoeBuy for $70 million from IAC. Many of these have been fuelled by its acquisition of Jet.com, which it purchased in 2016 for $3 billion.

Rumors had been circulating of the deal between Bonobos and Walmart for a while, and as predicted, this in part is a way to bring Andy Dunn, who had founded and was leading Bonobos, into a wider leadership role at Walmart running all of its fashion and related lifestyle operations. He will be reporting to Marc Lore, president and CEO of Walmart U.S. eCommerce (who joined with the Jet.com acquisition).

Walmart to buy Bonobos for $310M as it doubles down on fashion
 

Rhyme n Tekniq

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Because most of your politicians are bought off and they have loopholes.


Also it seems alot of these lobbyist and lesser known political figures often assume Chairman and other key contributor roles of major brands and food/drug regulatory agencies. They'll leave politics for a few years to line their pockets in commerce and before they go back or move onto other industries they make sure one of their cronies gets the position they last held and its just a revolving door of greedy politicians further deregulating shyt so they can drive bigger profits while disregarding everything else.
 

SirReginald

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Also it seems alot of these lobbyist and lesser known political figures often assume Chairman and other key contributor roles of major brands and food/drug regulatory agencies. They'll leave politics for a few years to line their pockets in commerce and before they go back or move onto other industries they make sure one of their cronies gets the position they last held and its just a revolving door of greedy politicians further deregulating shyt so they can drive bigger profits while disregarding everything else.
Correct
 

AlainLocke

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How does this not violate Anti-trust laws at some point boggles me. All of these acquisitions will soon leave consumers and workers no options.

It's anti-trust laws are fickle when it comes to breaking up consumer business...

Like for example...AT&T was a fukking monster and in order to compete with them you actually had to buy their product...

Breakup of the Bell System - Wikipedia


Standard Oil was so damn efficient, competitors were like fukk it...so the USA had to break it up...
Standard Oil - Wikipedia

Anti-trust laws tend to break up only resource providing industries...like telephone lines, airlines and oil...

When it comes to consumer industries...the USA is more relaxed in breaking them up

Plus this is considered a whole new industry...it's the clothing industry...


But maybe we should become more strict and not allow companies like Amazon to have storefronts or allow a company like WalMart to enter the ecommerce space....:patrice:
 

AlainLocke

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This really aint too bad. 11 food companies and 6 different companies for the media, that's a lot of competition. Walmart and Amazon, 2 companies, trying to own everything ain't good

You know we used to have more than 11 food companies and 6 different media companies...

Especially when it comes to media..that is fukking bad...but you know the Telecom Act and a bunch of deregulation and now you can't escape Universal or Disney or Warner or Fox....

Communications Act of 1934 - Wikipedia

Telecommunications Act of 1996 - Wikipedia

Media cross-ownership in the United States - Wikipedia

In 1975, the FCC passed the newspaper and broadcast cross-ownership rule.[12] This ban prohibited the ownership of a daily newspaper and any "full-power broadcast station that serviced the same community".[9] This rule emphasized the need to ensure that a broad number of voices were given the opportunity to communicate via different outlets in each market. Newspapers, explicitly prohibited from federal regulation because of the guarantee of freedom of the press in the First Amendment to the United States Constitution, were out of the FCC's jurisdiction, but the FCC could use the ownership of a newspaper as a preclusion against owning radio or television licenses, which the FCC could and did regulate.
 

Ezigbo Nwanyi

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It's anti-trust laws are fickle when it comes to breaking up consumer business...

Like for example...AT&T was a fukking monster and in order to compete with them you actually had to buy their product...

Breakup of the Bell System - Wikipedia


Standard Oil was so damn efficient, competitors were like fukk it...so the USA had to break it u...
Standard Oil - Wikipedia

Anti-trust laws tend to break up only resource providing industries...like telephone lines, airlines and oil...

When it comes to consumer industries...the USA is more relaxed in breaking them up

Plus this is considered a whole new industry...it's the clothing industry...


But maybe we should become more strict and not allow companies like Amazon to have storefronts or allow a company like WalMart to enter the ecommerce space....:patrice:

My response was based off the several acquisitions that Walmart and Amazon has been purchasing in order to occupy the internet sales space. Im pretty sure the laws surrounding web sales and acquisitions are pretty gray, and this will only result in companies being consolidated, brick and mortar stores continual decline, and prices going up. I digress
 
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