Wal-Mart threatens to pull out of DC if minimum wage is raised

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Wal-Mart was not happy with proposed legislation to raise the minimum wage in Washington, D.C. So much so that the retail giant has threatened that it won't open at least three planned stores in the area if the bill passes, the Washington Post reports.

A team of Wal-Mart executives and lobbyists delivered the news personally to D.C. Council members less than 24 hours before the vote.

D.C. lawmakers weren't swayed by the ultimatum: They passed the bill late Wednesday. The bill, which still needs to be signed by the mayor and pass a congressional review period, raises the minimum wage to $12.50 an hour from the current $8.25 an hour for retailers with sales over $1 billion and retail spaces of 75,000 square feet or more. (Read the full article.)