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Sentence Bernie Madoff to work at Wal-Mart

By Steve Lombardi

Wal-Mart is adding approximately $2 billion U.S. dollars to the benefit and incentive packages for hourly employees in the United States. That's a good sign.

In a memo to Wal-Mart employees obtained by Reuters, Wal-Mart CEO Mike Duke said the retailer is awarding roughly $2 billion to U.S. hourly employees, which includes $933.6 million in bonuses, $788.8 million in profit sharing and 401(k) contributions, millions of dollars in merchandise discounts, and contributions to its employee stock purchase plan.

Wal-Mart has been doing very well seeing total sales increase by 7.2% driving sales up to $401.24 billion US. This isn't the first time Wal-Mart has added pay incentives to hourly employees. They did it in 2008 by adding $1.2 billion to the pay of hourly employees.

This is a unique piece of news. It's unusual that employees who work get a bonus.

Perhaps part of Bernie Madoff's punishment should be for him to work for the next twenty years (assuming he lives that long) as a Wal-Mart greeter. The public would flock to the store just to give him a piece of our mind; the store sales would sky rocket, and the honest work would do him good.

Listen to Madoff talk about the stock market and ask yourself what was actually going on his mind as he talks.

www.youtube.com/watch

Originally posted at InjuryBoard by Steve Lombardi

Full post as published by Des Moines Personal Injury Lawyer on March 20, 2009 (boomark / email).