COMPANY REAPING HUGE PROFITS OFF WATER FROM DROUGHT-STRICKEN CALIFORNIA
|| By FITSNEWS || So corporate behemoth Walmart and its “Great Value” bottled water provider, DS Services of America, have quite the deal going with the Sacramento Municipal Water Supply.
According to reporter Adrienne Moore of KOVR TV 13 (CBS – Sacramento), the government-run supplier sells water to DS Services at a rate of 748 gallons per dollar (well, per 99 cents). DS Services then bottles the water and sells it at Walmart for 88 cents per gallon.
Bad at math? Allow us to compute. That’s a 65,724 percent profit …
Why does this matter? Well, California is in the fourth year of a debilitating drought … one that has prompted mandatory reductions in water usage. You know … unless you’re a celebrity with opulent grounds to keep up. Or apparently a mega-corporation with obscene profit margins to maintain.
Walmart’s response to the KOVR story?
“We have and continue to work with our suppliers to act responsibly while meeting the needs of customers who count on us across California,” the company said in a statement.
What a great corporate citizen, right?