Wal-mart insures own workers, claims on insurance???

2010-01-29 23:21:20

#1

ruisleipa: Member; +149|6508|teh FIN-land

OK so according to a report on Michael Moore's new film

It turns out that Wal-Mart, a company with a revenue larger than any other in the world, bets on its workers dying, taking out life insurance policies on its 350,000 shop-floor workers without their knowledge or approval. When one of them dies, Wal-Mart claims on the policy. Not a cent of the payout, which sometimes runs to a $1m (£620,000) or more, goes to the family of the dead worker, often struggling with expensive funeral bills. Wal-Mart keeps the lot. If a worker dies, the company profits.

http://www.guardian.co.uk/theguardian/2 … love-story

WTF? Can this be true? Well, yeah, it IS true, but it's fuckin outrageous innit? What a bunch of scumbags.

2010-01-29 23:33:19

#2

eleven bravo: Member; +1,399|5545|foggy bottom

reminds me, I gotta go buy some stuff from wal mart tomorrow

Tu Stultus Es

2010-01-29 23:34:05

#3

SenorToenails: Veritas et Scientia; +444|6416|North Tonawanda, NY

ruisleipa wrote:
OK so according to a report on Michael Moore's new film

It turns out that Wal-Mart, a company with a revenue larger than any other in the world, bets on its workers dying, taking out life insurance policies on its 350,000 shop-floor workers without their knowledge or approval. When one of them dies, Wal-Mart claims on the policy. Not a cent of the payout, which sometimes runs to a $1m (£620,000) or more, goes to the family of the dead worker, often struggling with expensive funeral bills. Wal-Mart keeps the lot. If a worker dies, the company profits.
http://www.guardian.co.uk/theguardian/2 … love-story

WTF? Can this be true? Well, yeah, it IS true, but it's fuckin outrageous innit? What a bunch of scumbags.

Hundreds of companies -- including Dow Chemical, Procter & Gamble, Wal-Mart, Walt Disney and Winn-Dixie -- have purchased this insurance on more than 6 million rank-and-file workers.

Apparently, it's very, very common.

2010-01-29 23:38:00

#4

jsnipy: ...; +3,277|6809|...

if its insurance, the odds work out better for the insurance company, not the insured

2010-01-29 23:39:40

#5

SenorToenails: Veritas et Scientia; +444|6416|North Tonawanda, NY

jsnipy wrote:
if its insurance, the odds work out better for the insurance company, not the insured

But you forgot the moral outrage!!!!111one

2010-01-29 23:52:07

#6

ruisleipa: Member; +149|6508|teh FIN-land

SenorToenails wrote:
jsnipy wrote:
if its insurance, the odds work out better for the insurance company, not the insured
But you forgot the moral outrage!!!!111one

you say that like it's a bad thing?

2010-01-29 23:53:07

#7

ruisleipa: Member; +149|6508|teh FIN-land

jsnipy wrote:
if its insurance, the odds work out better for the insurance company, not the insured

Not the point of this!

2010-01-29 23:57:25

#8

SenorToenails: Veritas et Scientia; +444|6416|North Tonawanda, NY

ruisleipa wrote:
SenorToenails wrote:
jsnipy wrote:
if its insurance, the odds work out better for the insurance company, not the insured
But you forgot the moral outrage!!!!111one
you say that like it's a bad thing?

Why should I care if the company I work for has a life insurance policy on me? I have one for myself that my employer pays for...

2010-01-29 23:59:25

#9

Cybargs: Moderated; +2,285|7002

You can pretty much take a life insurance on any employee without their knowledge... It's called smart investing as well. Immoral yes, illegal no. Hell they should've asked their families to pull out life insurance policies for them.

https://cache.www.gametracker.com/server_info/203.46.105.23:21300/b_350_20_692108_381007_FFFFFF_000000.png

2010-01-30 00:04:50

#10

NateW: my sigs worse than yours; +191|6419

SenorToenails wrote:
ruisleipa wrote:
SenorToenails wrote:

But you forgot the moral outrage!!!!111one
you say that like it's a bad thing?
Why should I care if the company I work for has a life insurance policy on me? I have one for myself that my employer pays for...

agreed. This seems like much adieu about nothing.

2010-01-30 00:06:31

#11

Spark: liquid fluoride thorium reactor; +874|6961|Canberra, AUS

As long as the family doesn't pay for the insurance I see no problem. Walmart is allowed to legitimately claim insurance money given that a dead worker, as crude as this is, represents lost productivity, and thus lost money.

The paradox is only a conflict between reality and your feeling what reality ought to be.
^{~ Richard Feynman}

2010-01-30 00:23:48

#12

Flaming_Maniac: prince of insufficient light; +2,490|6993|67.222.138.85

RAH IMMORAL BECAUSE IT HAS TO DO WITH SOMEONE DYING REGARDLESS OF A COMPLETE LACK OF REASONING AS TO WHY IT IS IMMORAL

2010-01-30 00:32:29

#13

jsnipy: ...; +3,277|6809|...

ruisleipa wrote:
jsnipy wrote:
if its insurance, the odds work out better for the insurance company, not the insured
Not the point of this!

There is, if you understand how insurance works at all (which would go against Walmart betting against their employee dying).

I think you are just fishing for something to hate.

2010-01-30 00:41:09

#14

AussieReaper: ( ͡° ͜ʖ ͡°); +5,761|6439|what

Doesn't stop the worker from taking out their own life insurance policy.

And I'm sure that the money walmart receives they use to re-staff that position, with a new worker, with training, new job application processing, all the interviews.... you know that stuff isn't free?

2010-01-30 08:17:17

#15

Turquoise: O Canada; +1,596|6691|North Carolina

Of course Walmart does this. It's profitable. Do you really expect them to behave any differently?

Shit, I don't work there, so why should I give a fuck? I get cheap food there, so that's cool with me.

Last edited by Turquoise (2010-01-30 08:18:36)

2010-01-30 08:23:17

#16

Mekstizzle: WALKER; +3,611|6907|London, England

Yeah I don't really get it, the whole moral thing I don't give a shit about because it really isn't much. But from a business standpoint, I dunno why Wal-Mart does that. It probably helps out the insurance companies more than themselves.

Although I dunno, wouldn't be wise for me to see here and question the business of one of the worlds richest companies now would it

To me it doesn't make sense is about as far as I care about it all.

2010-01-30 08:24:23

#17

eleven bravo: Member; +1,399|5545|foggy bottom

nobody puts a gun to somebody's head and forces them to work for walmart

Tu Stultus Es

2010-01-30 08:54:07

#18

11 Bravo: Banned; +965|5523|Cleveland, Ohio

ruisleipa wrote:
OK so according to a report on Michael Moore's new film

/exits thread

2010-01-30 09:30:41

#19

Pochsy: Artifice of Eternity; +702|5829|Toronto

Mekstizzle wrote:
Yeah I don't really get it, the whole moral thing I don't give a shit about because it really isn't much. But from a business standpoint, I dunno why Wal-Mart does that. It probably helps out the insurance companies more than themselves.

Although I dunno, wouldn't be wise for me to see here and question the business of one of the worlds richest companies now would it

To me it doesn't make sense is about as far as I care about it all.

There probably is some absolutely genius business scheme going on there that we just can't see. Hell, I wouldn't be surprised if Walmart somehow owned the insurance company they were using- perhaps not de facto, but de jure - and have found loopholes in tax claim regulations for insurance companies that they can exploit...somehow.

Morals have nothing to do with business. Go to the HR department and find out what business morals are.

The shape of an eye in front of the ocean, digging for stones and throwing them against its window pane. Take it down dreamer, take it down deep. - Other Families

2010-01-30 09:35:50

#20

seymorebutts443: Ready for combat; +211|6881|Belchertown Massachusetts, USA

eleven bravo wrote:
nobody puts a gun to somebody's head and forces them to work for walmart

/thread

2010-01-30 10:08:08

#21

Cybargs: Moderated; +2,285|7002

Pochsy wrote:
Mekstizzle wrote:
Yeah I don't really get it, the whole moral thing I don't give a shit about because it really isn't much. But from a business standpoint, I dunno why Wal-Mart does that. It probably helps out the insurance companies more than themselves.

Although I dunno, wouldn't be wise for me to see here and question the business of one of the worlds richest companies now would it

To me it doesn't make sense is about as far as I care about it all.
There probably is some absolutely genius business scheme going on there that we just can't see. Hell, I wouldn't be surprised if Walmart somehow owned the insurance company they were using- perhaps not de facto, but de jure - and have found loopholes in tax claim regulations for insurance companies that they can exploit...somehow.

Morals have nothing to do with business. Go to the HR department and find out what business morals are.

You get tax breaks if you buy any form of insurance for an employee afaik.

But it benefits walmart especially if the employee works in a more riskier environment (loading docks etc...) and would have a higher probability of death.

Either way Walmart doesn't lose.

2010-01-30 10:14:04

#22

ghettoperson: Member; +1,943|6935

Can anyone do this to anyone? Like, could I take out life insurance on someone, and then kill them?

2010-01-30 10:15:15

#23

eleven bravo: Member; +1,399|5545|foggy bottom

ghettoperson wrote:
Can anyone do this to anyone? Like, could I take out life insurance on someone, and then kill them?

what time is your flight arriving

Tu Stultus Es

2010-01-30 10:15:59

#24

Turquoise: O Canada; +1,596|6691|North Carolina

ghettoperson wrote:
Can anyone do this to anyone? Like, could I take out life insurance on someone, and then kill them?

Now that's what I call a business opportunity.

2010-01-30 10:22:33

#25

jsnipy: ...; +3,277|6809|...

ghettoperson wrote:
Can anyone do this to anyone? Like, could I take out life insurance on someone, and then kill them?

Sure, but insurance companies don't blindly hand over money without an investigation to protect their interests.

BF2S Forums Wal-mart insures own workers, claims on insurance???

ruisleipa wrote:

jsnipy wrote:

SenorToenails wrote:

jsnipy wrote:

jsnipy wrote:

ruisleipa wrote:

SenorToenails wrote:

jsnipy wrote:

SenorToenails wrote:

ruisleipa wrote:

SenorToenails wrote:

ruisleipa wrote:

jsnipy wrote:

ruisleipa wrote:

Mekstizzle wrote:

eleven bravo wrote:

Pochsy wrote:

Mekstizzle wrote:

ghettoperson wrote:

ghettoperson wrote:

ghettoperson wrote:

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