We have not seen it reported this way yet - for every 5 day period Wal-Mart can delay the use of it's gift cards, it would generate over $1 million in internal cash flow.
It's simple, math.
CNN has previously reported that sales of gift cards in the U.S. would be $26.3 BILLION this year.
CNBC has previously reported (in it's documentary on Wal-Mart), that it generates more than 10% of U.S. retail sales. We'll use 10% for this calculation, and assume that Wal-Mart would have a similiar percentage of U.S. gift card sales
The current 90 day Treasury Bill rate is 2.85%
There are 365 days in a year.
(26.3 X .1) X (.0286/365) = $205,479 per day in interest.
WOW !!
Why am I taking the time to report this? I got a Wal-Mart gift card for Christmas!
I went there on Wednesday to buy some RW DVD's with it. I got in line to checkout. Word was passed in these loooong lines that if you were trying to pay with a gift card - they weren't working. I was pissed!
A nice older gentleman in front of me, speculated on how much Wal-Mart would benefit if this was a system wide "failure".
When I got home I decided to spend 5 minutes resaerching this. With the miracle that is Google, I had my answer is less than that time!
Thursday, December 27, 2007
Prediction
1) Martial law will be declared in Pakistan within days.
2) The elections there will still be held. Voter turnout will be abysmal, yet the government will declare victory and a mandate to govern.
3) The Bush administration will comment favorably on the election results.
4) Citizens in this country will go on about their daily routines as if nothing had happened.
Question: If a beautiful, magnificent oak tree is cut down in a foreign forest, and the mass majority of people here aren't even aware enough to know that it happened, did the oak really fall?
2) The elections there will still be held. Voter turnout will be abysmal, yet the government will declare victory and a mandate to govern.
3) The Bush administration will comment favorably on the election results.
4) Citizens in this country will go on about their daily routines as if nothing had happened.
Question: If a beautiful, magnificent oak tree is cut down in a foreign forest, and the mass majority of people here aren't even aware enough to know that it happened, did the oak really fall?
Benazir Bhutto Assassinated
We are saddened by the death of opposition leader Benazir Bhutto of Pakistan. She was the former Prime Minister of Pakistan, and was drawing increasingly huge crowds to her rallies critical of Mushariff. That apparently became too much of a concern for the Pakistani government. We see the results of their concern this morning.
Remember, Bhutto's own father was assassinated. Her two brothers were murdered outside of Pahistan under mysterious circumstances. Benazir Bhutto had said repeatedly that she was in fear of her life. And yet she decided to return to her country, after a self-imposed exile, to run for office again.
At the airport, on the day of her return to re-enter Pakistan, there was an unsuccessful assassination attempt. And yet she continued her work to expose the Pakistani government's true character and intentions. This was truly a courageous woman, a courageous politician - the kind we no longer see here in our own country.
It is very interesting to watch as the Pakistani government scrambles to gain control of the story. CNN at approximately 7:30 CST had on a former Information Minister of Pakistan who urged "caution" about continuing to report the story that Bhutto's husband said she was shot in the neck and died from this wound. He instead said that the "situation is a bit confused, as one would expect." They are working hard to float the story that she died as a reult of the suicide explosion, not from bullet wounds.
CNN should be applauded for poking a hole in the official report out of Pakistan that she died as a result of an explosion at the rally. CNN further reported that attendees of this rally were required to pass thru metal detectors and were subject to searches. And yet someone was able to get a gun past these checkpoints. There were aware of the make and model of the car she was driving in. When she attempted to flee for her safety at the start of the violence, her car was hit by five bullets, and she suffered her fatal wound.
Remember, Bhutto's own father was assassinated. Her two brothers were murdered outside of Pahistan under mysterious circumstances. Benazir Bhutto had said repeatedly that she was in fear of her life. And yet she decided to return to her country, after a self-imposed exile, to run for office again.
At the airport, on the day of her return to re-enter Pakistan, there was an unsuccessful assassination attempt. And yet she continued her work to expose the Pakistani government's true character and intentions. This was truly a courageous woman, a courageous politician - the kind we no longer see here in our own country.
It is very interesting to watch as the Pakistani government scrambles to gain control of the story. CNN at approximately 7:30 CST had on a former Information Minister of Pakistan who urged "caution" about continuing to report the story that Bhutto's husband said she was shot in the neck and died from this wound. He instead said that the "situation is a bit confused, as one would expect." They are working hard to float the story that she died as a reult of the suicide explosion, not from bullet wounds.
CNN should be applauded for poking a hole in the official report out of Pakistan that she died as a result of an explosion at the rally. CNN further reported that attendees of this rally were required to pass thru metal detectors and were subject to searches. And yet someone was able to get a gun past these checkpoints. There were aware of the make and model of the car she was driving in. When she attempted to flee for her safety at the start of the violence, her car was hit by five bullets, and she suffered her fatal wound.
Thursday, December 13, 2007
DEMS talking point - BUSH veto of child health care bill
OK OK Bush veto'd the bill to provide millions of uninsured American kids with health care. He has veto'd this twice now.
IN SPITE OF THE NEWS wants American kids to grow up healthy. Doesn't everybody? We think President Bush does. He's a Dad. Basically a decent guy. Stubborn and very misguided at times, but a decent guy.
He has good reasons for vetoing this bill. Kids of parents making over $100 k per year should have their health cae paid for by their parents, not the rest of us.
The DEMS sent it up a second time for use down the road. It is electioneering pure and simple. They want Republicans on record as voting against it and vetoing it, so they have another issue they can club their Republican opponents with in their home districts in next year's elections.
IN SPITE OF THE NEWS wants American kids to grow up healthy. Doesn't everybody? We think President Bush does. He's a Dad. Basically a decent guy. Stubborn and very misguided at times, but a decent guy.
He has good reasons for vetoing this bill. Kids of parents making over $100 k per year should have their health cae paid for by their parents, not the rest of us.
The DEMS sent it up a second time for use down the road. It is electioneering pure and simple. They want Republicans on record as voting against it and vetoing it, so they have another issue they can club their Republican opponents with in their home districts in next year's elections.
This is the DAY in Baseball.....
Sports junkies and Baseball fans have been waiting for this day for a loooong time... former Senator George's report on steroid use in baseball. His news conference is scheduled later this afternoon at 2:00 pm EST. He is expected to release names of current and retired players who are part of this scandal. IN SPITE OF THE NEWS hopes he is just as diligent in releasing the names of current and retired OWNERS who were just as complicit in this scandal as the players.
As he has been hired, and paid by the owners, we are expecting him to be less than fair and balanced. IN SPITE OF THE NEWS predicts this will be painted as essentially a player scandal. Players greedy to grab as much free agent salary from the owners as they could.
Major League Baseball (the Commissioner's Office and the Owners) will come in for some blame, after all, George's report would be DOA in the court of credibility in he didn't.
We will analyze the release and post later in the afternoon.
As he has been hired, and paid by the owners, we are expecting him to be less than fair and balanced. IN SPITE OF THE NEWS predicts this will be painted as essentially a player scandal. Players greedy to grab as much free agent salary from the owners as they could.
Major League Baseball (the Commissioner's Office and the Owners) will come in for some blame, after all, George's report would be DOA in the court of credibility in he didn't.
We will analyze the release and post later in the afternoon.
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