Wal-Mart Settles 63 Lawsuits for Up to $640 Million

The theory is that the GOP-leaning Wal-Mart is trying to clean the slate before President-elect Barack Obama's administration takes office on January 20th. Wal-Mart is typically right-wing in its thinking, based almost exclusively on free market preferences for its global business operations. But it is probably a good PR move for them to settle these lawsuits, all of which accused the company of shorting workers' pay for hours work and/or limiting required break times, among other similar violations of state and federal law.

The amount of the settlement will be "up to" $640 Million, with the amount ultimately contingent upon the claims that employees file against the company during the period allotted by the courts. The final figure could be as low as $352 Million. Obviously, that is a significant sum for any company, but there is no doubt that this settlement is a victory for Wal-Mart.

After years of legal haggling and continued media scrutiny, the company can finally put the wage scandal behind it - at least for now. Even after the settlement was announced, shares of Wal-Mart rose in both regular and after-hours trading. And while the plaintiffs seem to be satisfied with the amount of the settlement, there are some who are concerned that Wal-Mart still must do more to ensure that its workers are paid properly and that their on-the-job rights are protected.

Wal-Mart does not allow its workers to unionize, which some have criticized. Although you have to wonder what the auto industry thinks of its union dealings at the moment.