I am amazed at how many people talk about the "American Dream" and then as soon as some company grows too big immediately tries to tear it down. Or... raise taxes as high as possible on the rich. So, basically it is great if you succeed as long as you stay within a certain (unspecified) set of limits.
I was just reading about a couple of states passing legislation for the sole purpose of keeping WalMart from opening their affiliate banks inside of their stores. One of the quotes by a completely unbiased party, Kathleen Murphy (CEO of Maryland Bankers Association), is: "We have seen what Wal-Mart has done to local retailers, and we just fear the same impact will happen to commercial banking in the state of Maryland". I bet if it were one of her members she wouldn't have a problem with it.
The second problem that I have with that statement is that WalMart has every right to compete in the market place. If that means that companies who can't compete go out of business we have a name for that - capitalism. Many argue that they can't compete with WalMart's prices. I agree. Very short MBA lesson ... price is not the only competition point. Let me give you a little hint as to how to compete... find something else to compete with them on. Service would be one of the areas I would shoot for.
Why should we be so jealous of large companies or rich people? I personally would love to own a large company (I guess I actually do to some extent in my 401K ... another blog) and I am striving really hard to become one of those evil rich people.
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