Article

Steven Bertoni,
06.09.09                                   [back to top]

The wealthiest women on Earth have a combined net worth of $160 billion.  It looks like billionaire Abigail Johnson is moving closer to the Fidelity throne.

This month the daughter of Edward "Ned" Johnson III, lord of the world's largest mutual fund company, took charge of the board governing the company's fixed-income and asset-allocation funds. She now oversees 161 funds with more than $650 billion in assets.

Many Fidelity watchers believed "Abby" fell out of contention for the top spot at the company after her father moved her from the venerable mutual fund division to the more mundane retirement and retail group in 2005. (Others saw that move as an opportunity for her to understand another part of the family business.) Johnson will continue to run the retail group--the firm's largest division with $1.3 trillion in customer assets--as she takes on her new responsibilities.

A spokesman for Fidelity would not comment on the company's succession plans. He said the move was the logical next step in its strategy to split its board of trustees in half, and Ned Johnson has no plans of retiring.

Like the majority of the female billionaires in the world, Johnson inherited her fortune--yet still holds tremendous sway over her company. Today she's worth an estimated $8.5 billion, ranking her eighth on the new Forbes list of the world's richest women.

Topping the list is Christy Walton, who is worth $20 billion. Walton is the widow of Wal-Mart ( WMT - news - people ) scion John Walton, who died in a plane crash in 2005. Right behind her is Alice Walton, worth $19.5 billion.

Alice is the daughter of Sam Walton, who with his brother James, started a general store chain in Bentonville, Ark., in 1962. Today Wal-Mart is the world's largest retailer, controlling more than 7,900 stores, 2 million employees and $400 billion in annual sales.

This year the 20 richest women on the planet have a combined net worth of $160 billion derived from a diverse string of industries including manufacturing, finance, real estate and commodities.

While nearly all of their personal balance sheets took a hit in the past 12 months, most of the world's richest women have rehabbed their riches since the global equity markets bottomed out. Since we published our list of the World's Billionaires in March, this elite group has added $20 billion in cumulative wealth.

Behind the Waltons is L'Oreal heiress Liliane Bettencourt, who is worth $15 billion and has endured a scandalous year. Her daughter, Francoise Bettencourt-Meyers, filed a criminal complaint after the make-up matriarch reportedly gave $1.3 billion in assets and life insurance benefits to photographer Francoise-Marie Banier (See "Une Affaire de Famille"). Bernard Madoff's investment fraud also reportedly devoured some of her family's funds (See "L'Oreal Family Mixed In With Madoff").

The world's fourth richest woman, Susanne Klatten (worth $12 billion), has also been mired in scandal recently. Last January she was forced to go to the police after a former lover, Helg Sgarbi, allegedly threatened to post videos of the two having sex on the Internet (See "Billionaire Sex Scandals"). Sgarbi had secretly videotaped the two in hotel rooms on several occasions and demanded millions of Euros in hush money. In March Sgarbi was sentenced to serve six years in prison for the attempted blackmail.

Female billionaires who didn't make the top 20 include Harry Potter author J.K. Rowling, former eBay ( EBAY - news - people ) chief Margaret Whitman and media maven Oprah Winfrey. Oprah, worth $2.7 billion, recently slipped to No. 2 on the most recent Forbes Celebrity 100 ranking of the world's ultra famous.

  [back to top]

Wal-Mart directors approved

Associated Press,
06.08.09                                          [back to top]

BENTONVILLE, Ark. --

Wal-Mart Stores Inc., the world's largest retailer, said Monday shareholders approved its 15 director nominees at its annual meeting on Friday.

Shareholders also ratified Ernst & Young LLP as its independent accountant.

However six shareholder proposals, including adopting a gender identity nondiscrimination policy and pay for superior performance, did not garner enough votes and were defeated.

Final vote totals will be included in the company's second-quarter earnings report.

Shares fell 55 cents to $50.52 during midday trading.

Copyright 2009 Associated Press. All rights reserved

 [back to top]

Seeking Downside Protection For Wal-Mart Shares

Andrew Wilkinson,
Options Flash
06.08.09                                       [back to top]

Wal-Mart Stores ( WMT - news - people ):Wal-Mart's successes contrast starkly against the more bruised-and-battered retailers struggling through one of the worst recessions in modern times. The company's annual meeting revealed that the firm has benefited greatly from the economic downturn by increasing market share and amassing new customers. Despite the bullish news regarding the firm's growth, shares are currently off slightly by 1% to $50.50 today.

One might expect to see optimistic WMT option investors populating the stock. However, we observed a long-term bearish play in the January 2010 contract. It appears that the trader has sold 15,000 January 65 calls for a premium of 40 cents apiece in order to partially finance the purchase of 15,000 protective put options at the January 45 strike for a premium of $2.19 each. The net cost of the pessimistic-play amounts to $1.79 and begins to yield profits to the downside beginning at the breakeven share price of $43.21. This investor apparently feels the need to protect himself against a more than 14% decline in the stock over the next eight months time.

 [back to top]

Livingston reverses course on letting hunger group use land for garden

By Jonah Owen Lamb
mercedsun-star.com                    [back to top]

LIVINGSTON -- On April 6, Pastor Bill Ruth of Our Redeemer Lutheran Church walked out of a Livingston City Council meeting a happy man.

The city had just granted his organization, the Merced County Hunger Task Force, the use of 12 acres of city land for a community garden.

The council unanimously voted to let the task force use the land until the city was ready to build its sports complex at the site.

Pastor Bill Ruth of Our Redeemer Lutheran Church stands in the field the Livingston City Council initially granted his organization, the Merced County Hunger Task Force, for a community garden. The Planning Commission later denied the permit for the garden.

According to the agreement, the task force would be given a 60-day notice to clear the land.

But almost two months later, no seeds have been planted. That's because the city's Planning Commission denied the permitting needed for the garden, citing conflicting uses and the garden's trees.

Ruth was never contacted by the Planning Commission before its meeting, and by the time the council met, it was too late to appeal the decision.

"The 12 acres sounded too good to be true," said Ruth. "It turns out it is."

City leaders had decided soon after the council's unanimous vote on the garden that green-lighting the venture was a bad idea, and Mayor Daniel Varela and City Manager Richard Warne found a piece of land that the task force could use permanently.

Varela says he never spoke to the Planning Commission about the issue and that there was nothing deceitful about what happened.

Varela claimed the council initially voted on the issue before knowing what they were actually voting on.

"I'm going to claim ignorance," Varela added. "When this thing came to us we got excited. We got caught up in that moment without thinking of the consequences."

The alternative site Varela and Warne showed Ruth was two muddy acres alongside a Foster Farms settling pond. Ruth told Varela it was not at all what he was looking for.

"I am confused, that's what I am," Ruth said. "They came to me."

In mid 2008, said Ruth, Warne approached him with the idea of using the 12 acres of city land.

Despite Ruth's confusion over the city's apparent flip-flop, Varela insists, "We're not changing our minds, we're just offering another option."

At the City Council meeting following the Planning Commission's decision, even some on the council were surprised.

"We actually approved that land," said Margarita Aguilar.

Varela insisted that the city just wanted to give Ruth a long-term site that they wouldn't have to leave.

But another use for the site has been discussed between the city and Wal-Mart, said Community Development Director Donna Kenney. The city had discussed using the 12-acre site as a drainage basin for the future store, said Kenney.

In exchange, Wal-Mart may help the city pay for its sports complex.

[back to top]

Wal-Mart annual meet features cheers, Ben Stiller

By Nicole Maestri,
Reuters
June 5th, 2009                           [back to top]

FAYETTEVILLE, Ark., June 5 (Reuters) - Wal-Mart Stores Inc's (WMT.N) annual meeting got under way on Friday amid raucous cheers as the world's largest retailer celebrates the gains it has made expanding its business despite a global economic downturn.

It marks the first annual meeting under newly installed Chief Executive Officer Mike Duke, who took the helm on Feb 1.

Cheerleaders and a marching band kicked off the meeting, and led a 16,000-seat stadium in the company's corporate cheer, while comedian and actor Ben Stiller welcomed the early-morning crowd.

"I hear they're still sleeping over at Target," Stiller joked.

The meeting is taking place as Wal-Mart grabs market share amid the economic downturn that has changed the way consumers shop. Instead of splurging on fancy restaurant meals, name-brand clothes, or flashy jewelry, consumers are showing a new austerity and are buying necessities, like food, toiletries and electronics that can be used to entertain at home or keep in touch with friends and family.

That shift in spending patterns has favored Wal-Mart.

Not only are consumers increasingly seeking its low prices, but because of an effort the retailer started in 2006 to improve sales by slowing U.S. expansion, new customers who are coming into its stores are finding wider aisles, less clutter and an improved merchandise selection.

Those are all factors that Wal-Mart believes will help it retain its increased market share once good economic times return.

To manage the recession, Wal-Mart has been planning conservatively. Last year it cut its capital spending plans and said it would pull back on opening U.S. supercenters -- its massive stores that combine a full grocery store with a discount store. Remodels are taking center stage and it is looking at opening smaller stores across the globe.

In October at its analyst meeting, Wal-Mart forecast sales growth of 5 to 7 percent for this current fiscal year -- or what it calls its fiscal year 2010 -- and capital expenditures of $13 billion to $14.5 billion. It also said it expected to open between 125 and 140 U.S. supercenters in this fiscal year. In fiscal year 2008, it opened 191 supercenters and had capital expenditures of $14.9 billion.

During a presentation to the media on Thursday, Wal-Mart also said its strong financial position leaves it well positioned to take advantage of acquisition opportunities across the globe.

"We're clearly very actively looking at possibilities," Wan Ling Martello, the chief financial officer of Wal-Mart International, told reporters.

[back to top]

Wal-Mart Investors Seek Evidence It’s More Than Recession Stock

By Chris Burritt,
Bloomberg
June 5th, 2009                              [back to top]

June 5 (Bloomberg) -- Wal-Mart Stores Inc. investors need convincing that the world’s biggest retailer is a stock to own in good times as well as bad.

Shareholders will gather today in Fayetteville, Arkansas, for the company’s annual meeting with Chief Executive Officer Mike Duke. They will be looking for signs the retailer can boost revenue when the recession ends and consumers start buying more from higher-priced rivals, said Walter Todd, a fund manager at Greenwood Capital.

“The challenge for the management team is to persuade investors that Wal-Mart is not simply a recessionary play, and that there’s opportunity for growth beyond the trade-down story,” said Todd, who helps manage $650 million, including 108,000 Wal-Mart shares, at the Greenwood, South Carolina-based firm. “Given how the stock has performed this year, people aren’t convinced at this point,” he said.

Wal-Mart has slumped 9.3 percent in 2009, even as it grabbed more customers with price reductions on groceries and medicines.

Shares of the Bentonville, Arkansas-based company have trailed the performance of retailers that sell more discretionary items, including Target Corp., the second-largest U.S. discount retailer, with a gain of 19 percent, and Kohl’s Corp., which has climbed 27 percent.

While the company’s shares haven’t matched rivals, its sales and profit have been better.

Profit, Sales

Wal-Mart reported last month that first-quarter net income and sales were little changed from the year-earlier period. Minneapolis-based Target and Kohl’s, based in Menomonee Falls, Wisconsin, reported profit declines of 13 percent and 10 percent, respectively.

Sales at stores open at least a year rose 3.7 at Wal-Mart in the first quarter, while they declined 3.7 percent at Target and 4.2 percent at Kohl’s.

Wal-Mart won’t comment before the meeting, spokesman David Tovar said yesterday.

As the recession deepened last year and more consumers gravitated to Wal-Mart, the shares advanced 18 percent, leading the Dow Jones Industrial Average.

Improvements in merchandise, from fresh-prepared chicken fettuccini at Sam’s Club to Apple Inc.’s iPhone at supercenters, will persuade consumers to keep shopping at the retailer, executives said yesterday during a press tour.

Improved Groceries

Sam’s Club, Wal-Mart’s membership warehouse club, improved the quality of its store-brand roast beef and cheeses to appeal to workers who are packing their own lunches instead of eating out, said Shawn Baldwin, vice president of fresh merchandising. It’s increasing sales of $4.97 rotisserie chickens and 16-inch ready-to-bake pepperoni pizzas for $6.88 to families curbing costs.

“We focus on categories that draw repeat visits,” said Ronnie Robinson, a Sam’s market manager responsible for 13 clubs in Arkansas, Oklahoma and Missouri.

Wal-Mart is renovating its U.S. discount stores and supercenters over the next five years with an emphasis on making shopping easier.

In Rogers, Arkansas, a supercenter that’s already refurbished has wider aisles and lower shelving to improve the display of bedding, coffee makers and other housewares. Health and beauty aids are adjacent to groceries to appeal to female shoppers, said Don Frieson, a division president responsible for 675 stores.

These efforts have helped Wal-Mart attract new, wealthier U.S. customers who are spending more on purchases, helping boost comparable-store sales, U.S. stores chief Eduardo Castro-Wright told analysts in New York in April.

Consumers will keep shopping at Wal-Mart when the economy improves, Duke said May 14 on a recorded earnings call.

More Budgeting

Wal-Mart has benefited from the worst U.S. recession in a generation, which “has seared into people’s psyche” the need to budget more and get better value, according to Greenwood Capital’s Todd. He doesn’t plan to attend today’s shareholders meeting at the University of Arkansas.

U.S. stores generated 49 percent of revenue from groceries last year, helping Wal-Mart boost traffic from consumers buying necessities. The company has improved its displays of home electronics, linens and apparel in a three-year effort under Castro-Wright.

The stock’s drop this year creates a “buying opportunity,” John Zolidis, an analyst at Buckingham Research Group in New York, wrote in a May 11 note in which he raised his rating on the stock to “accumulate” from “neutral.” Twenty analysts tracked by Bloomberg rate Wal-Mart as “buy” while five recommend “hold” and one says “sell.”

‘Better Stores’

“We are running better stores today than we’ve ever run,” Charles Holley, Wal-Mart’s executive vice president of finance, said in a May 14 telephone interview.

“The momentum we have and the changes we made in our merchandise and our operations will make a huge difference to us going forward as the economy turns,” he said.

Some investors aren’t convinced.

“We view Wal-Mart as a recessionary stock,” said Jon Fisher, who helps manage $18.7 billion at Fifth Third Asset Management in Minneapolis, including the Quality Growth Fund, which doesn’t own Wal-Mart shares. Fifth Third owned 910,271 Wal-Mart shares as of March 31.

“As things stop getting worse, the fundamental improvement in profitability and returns will be better at other retailers than at Wal-Mart,” Fisher said in an e-mail June 3. “This will likely play out into 2010.”

[back to top]

Ahead of the Bell: Wal-Mart shareholders' meeting

By ANNE D'INNOCENZIO ,
Associated Press
6.05.09                                                 [back to top]

FAYETTEVILLE, Ark. -- With Wal-Mart Stores Inc. among the few bright spots in retailing, shareholders will have reason to cheer as they descend at the world's largest retailer's annual meeting Friday.

But they will also be looking to hear more specifics from executives about how the discounter will thrive and retain its new shoppers once the economy recovers.

Wal-Mart ( WMT - news - people ) has been rapidly gaining market share and customers around the globe as its renewed emphasis on low pricing and the right mix of marketing and merchandise have come together just as the economy began to sour.

The retailer has cleaned up its stores, upgraded its customer service and spruced up its merchandise. It's hoping that an improved shopping experience will keep its new customers once economic conditions improve.

Thousands are expected to pack the University of Arkansas arena in Fayetteville, Ark., about 30 miles from the company's headquarters in Bentonville on Friday.

"Even though this is the most challenging economy we've faced in decades, certainly we feel good about the business," Mike Duke, who became the company's new CEO and president on Feb. 1, said in a pre-recorded address to investors last month. Duke had been vice chairman of Wal-Mart's international division.

Still, after enjoying a 20 percent surge in its stock price in 2008, Wal-Mart has seen its shares fall 10 percent so far this year as Wall Street turns to retailers that sell more discretionary goods and could benefit when the economy improves. That has driven up share prices for such merchants as Macy's Inc. ( M - news - people ) and Minneapolis-based Target Corp. ( TGT - news - people ), both of which suffered steep share declines in 2008.

Wal-Mart's earnings and sales performance continues to be a standout compared with the rest of the retail industry.

Including Wal-Mart, the same-store sales index from the International Council of Shopping Centers-Goldman Sachs ( GS - news - people ) has averaged a 0.5 percent decline so far this year compared with last. Without Wal-Mart, the industry index would have fallen 4 percent. Sales at stores open at least a year are considered a key indicator of a retailer's health.

Similarly, first-quarter profits fell 12 percent this year compared with last year industrywide. Excluding Wal-Mart's positive results, industry profits would have dropped 17 percent, though the gap between Wal-Mart and the rest of the industry has narrowed as merchants increase cost-cutting, Ken Perkins, president of RetailMetrics said.

Wal-Mart last month reported first-quarter earnings that were unchanged from the same period a year earlier. Revenue fell 0.6 percent but would have risen 4.5 percent without the impact of the strong dollar. To navigate through this tough environment, Wal-Mart has been scaling back its capital expenditures while focusing on remodeling existing locations and creating smaller outposts. The goal is to continue to increase cash flow to invest in its business while delivering returns to shareholders through dividends and buybacks.

Investors will also want to get an update on plans for new store openings and will want to hear more details about its international business, which now accounts for almost 25 percent of total sales.

At the same time, Wal-Mart will likely offer more about how it wants to play a larger role in addressing the financial challenges Americans face. Executives used last year's shareholders' meeting and other public forums to talk about its goals for sustainability and its health care plans for its store clinics and discounted prescription program.

Wal-Mart, which had been under relentless attack by union-backed groups on a variety of issues from labor infractions to lack of environmental awareness, has found those criticisms diminish as the company has worked hard to improve its image and make changes to its business.

Copyright 2009 Associated Press. All rights reserved

[back to top]

Wal-Mart announces $15B share repurchase

Associated Press,
06.05.09                                     [back to top]

FAYETTEVILLE, Ark. -- Wal-Mart Stores Inc. is launching a new $15 billion share repurchase program.

The world's largest retailer said Friday at its annual shareholders meeting that it would end its current $15 billion share repurchase program and replace it with a new one. The prior program was begun in 2007 and had $3.4 billion of remaining authorization.

Over the past five years, Wal-Mart ( WMT - news - people ) has bought back $21 billion worth of its shares.

Copyright 2009 Associated Press. All rights reserved.

[back to top]

Wal-Mart: We'll keep customers gained in recession

By ANNE D'INNOCENZIO
and CHUCK BARTELS ,
Associated Press
06.05.09                                               [back to top]

FAYETTEVILLE, Ark. -- Wal-Mart Stores Inc.'s newly installed President and CEO Mike Duke pledged to shareholders Friday that the world's largest retailer will build on its success by keeping its customers even when the economy improves.

But at an annual meeting that was often about celebrating recent business success, the CEO emphasized that the discounter also needs to make even more strides in larger issues of sustainability and health care.

"I believe the economic crisis has brought a fundamental shift in consumer attitudes and behavior," Duke told cheering shareholders packed into a University of Arkansas arena in Fayetteville, about 30 miles from its Bentonville headquarters.

"There is a 'new normal' in which people want to save money and are getting smarter about saving money. ... So let me be clear, and people ask me about this all the time: our customers will stay with us when this economy turns around," he said.

Wal-Mart ( WMT - news - people ) has taken customers from competitors and been a bright light in a bleak recession for retailers. The company's challenge now is to make sure new shoppers stay when the economy recovers.

As a testament to recent success, Wal-Mart announced it would launch a new $15 billion share buyback. The program replaces a $15 billion program begun in 2007 that $3.4 billion of remaining authorization.

In his address, Duke touched on various issues from increasing career advancement and developing better training for its workers to acclerating its environmental efforts like further reducing waste.

Duke, who had been vice chairman of the company's international business, succeeded Lee Scott, who retired Feb. 1. Scott is continuing as chairman of the executive committee of the board until January 2011.

Chief Financial Officer Tom Schoewe told shareholders that the company was increasing sales and profits faster than its competitors. He noted that Wal-Mart forecast earnings per share for fiscal 2008 of between $3.30 and $3.43.

The company came in at $3.35. Meeting that projection came as the economy went into a nosedive.

"Did we know when we provided guidance that consumer confidence would look like this?" Schoewe said, pointing at a graphic that featured a sharp downward arrow. He said the retail environment became increasingly difficult and that Wal-Mart was pressured internationally by a stronger dollar.

The meeting featured Wal-Mart's customary celebrity appearances. Miley Cyrus, who has a new apparel line with Wal-Mart, performed, as did American Idol winner Kris Allen, who is from Arkansas. Basketball legend Michael Jordan also spoke briefly.

Vice Chairman Eduardo Castro-Wright promised shareholders that the company will press for more diversity in its workforce and create more career opportunities for advancement.

"In the year ahead, we will take bold steps. We will not confuse efforts with results," said Castro-Wright Ark. Without offering specifics, Castro-Wright said that the company will do more to help associates, including hourly associates, advance in the workforce and get competitive pay.

The nation's biggest private employer has long been under pressure by labor-backed critics to keep improving its workplace practices, though criticism has diminished recently.

Castro-Wright says that 40 percent of regional general managers are "of color." Twenty percent of that group are women.

Wal-Mart, which generated more than $400 billion in sales last year, has pulled shoppers away from rivals around the globe because its re-emphasis on low prices along with the right mix of merchandise and marketing have come together just as the economy went sour.

Even entertainer Ben Stiller, the host of the meeting, took the opportunity to take a jab at Target ( TGT - news - people ).

"You guys get up early," said Stiller, referring to the 7 a.m start of the meeting. "I hear they are still sleeping over at Target."

Still, after enjoying a 20 percent surge in its stock price in 2008, Wal-Mart has seen its shares fall 7.5 percent so far this year as Wall Street turns to retailers that sell more discretionary goods and could benefit when the economy improves. That has driven up share prices for such merchants as Macy's Inc. ( M - news - people ) and Minneapolis-based Target.

Wal-Mart continues to move forward with an aggressive remodeling of its stores, which includes a better display of electronics and lower shelves to help shoppers navigate the store more easily. The company plans to remodel 500 of its more than 3,600 stores in the U.S. this year.

The company is also launching more exclusive launches in apparel and home furnishings that should help shoppers buy more than just detergent and groceries. This week, the company launched a new fashion line with teen star Cyrus and BCBG designer Max Azria for the critical back-to-school shopping season.

Chuck Bartels contributed to this report from Little Rock, Ark.

Copyright 2009 Associated Press. All rights reserved.

[back to top]

Wal-Mart pledges more diversity, advancement

Associated Press,
06.05.09                                                       [back to top]

FAYETTEVILLE, Ark. -- Wal-Mart Stores Vice Chairman Eduardo Castro-Wright is pledging to shareholders at its annual meeting Friday that it will press for more diversity in its workforce and create more career opportunities for advancement.

The company's business has been one of the few bright spots in retailing as it steals market share and customers away from rivals amid the recession.

But as the nation's biggest private employer, it is under pressure by labor-backed critics to improve its labor practices.

Castro-Wright says that 40 percent of regional general managers are "of color." Twenty percent of that group are women.

Copyright 2009 Associated Press. All rights reserved

[back to top]

Wal-Mart: We're hiring 22,000

By Parija B. Kavilanz,
CNNmoney.com
June 4th, 2009                              [back to top]

NEW YORK (CNNMoney.com) -- Wal-Mart Stores Inc. said Thursday that it expects to hire more than 22,000 people to staff its new or expanded domestic stores this year.

"During this difficult economic time, we're proud to be able to create quality jobs for thousands of Americans this year," Eduardo Castro-Wright, vice chairman of Wal-Mart U.S., said in a statement.

Wal-Mart (WMT, Fortune 500), the world's largest retailer, had previously announced it would open 142 to 157 stores new or expanded stores in 2009, which is fewer than the total number of its new or expanded stores in 2008. The company did not specify how many stores it opened last year.

Wal-Mart added 33,000 jobs in the United States last year, according to the annual report released in April.

The company said it will add 1,000 or more workers in each of 8 states: Arizona, California, Florida, Michigan, New Jersey, South Carolina, Utah and Virginia.

The retailer said the new hires will fill positions across its business units, including cashiers and sales associates, as well as pharmacists, human resource managers and customer service associates.

The discounter said benefits, including health plans that offer customized health coverage options, will be offered to its full and part-time workers.

Wal-Mart is the largest private-sector employer in the United States with a workforce of 1.45 million. Its total worldwide workforce is more than 2 million.

The announcement comes on the eve of the government's May report on national employment, which is expected to remain bleak. Economists surveyed by Briefing.com forecast that the unemployment rate will rise to a 25-year high of 9.2%, with 520,000 jobs lost last month.

[back to top]

The issue is much bigger than Wal-Mart

By Chris Lamb,
fredericksburg.com
June 4th, 2009

The issue is much bigger than Wal-Mart

The Wal-Mart issue has a most dangerous tone indeed. Our decisions affecting the extent to which the Wilderness is protected will establish a real-world precedent that outlives other issues of today.

Curtailing the encroachment of "big-box" stores adjacent to the Wilderness is of the utmost importance.

Will the legacy of our generation in Virginia be that of compromising our heritage and history in exchange for tax revenue?

What if a casino boat were moored beside the Arizona Memorial in 75 years, or if in 100 years Wal-Mart built a store 300 feet from the national park where Flight 93 crashed in Somerset County, Pa.?

If we permit the proposed Wal-Mart to be built beside such hallowed ground, what message will we have given to our descendents? What sort of metrics will be devised to "govern" future inroads upon the most important sites across the country?

Many arguments that support building a Wal-Mart at the proposed location cite economic development and pre-existing commercial zoning.

Unfortunately, the addition of a large retail commercial complex hardly can be said to spur the creation of jobs that promote significant regional economic growth and produce a tangible contribution to GDP that is competitive with other regional growth.

This question need not involve discussing the short-term economic benefits or downfalls of the proposed shopping development on the site.

The issue at hand is a far loftier question than that, with ramifications that genuinely outlive us all.

If we cannot draw the line on the encroachment of sprawl today, our own legacy is already doomed for tomorrow.

Target thrives in Wal-Mart country

By Suzanne Kapner,
Fortune
June 4th, 2009                          [back to top]

ROGERS, ARK. (Fortune) -- If Target builds it, will shoppers come?

That was the question some local residents asked when Target opened its first store here in March, deep in the heart of Wal-Mart country.

The answer is, not only do they come, but sometimes they bring their Wal-Mart-employed spouses.

"I've always been more partial to Target, because they have a better clothing selection," says Angela Klauck, who moved here a year ago from Austin, Texas, when her husband got a job with Wal-Mart. Asked whether he would be upset with her for shopping the competition, she said, "Absolutely not. He'd be right here shopping with me."

Wal-Mart (WMT, Fortune 500) executives, in fact, have become regular visitors at this Target (TGT, Fortune 500) store. It's located about seven minutes from Wal-Mart No. 1, the first Wal-Mart ever built, which opened in 1962, and is about 20 minutes (without traffic) from Wal-Mart's headquarters in neighboring Bentonville.

Former Wal-Mart CEO Lee Scott and his successor Mike Duke are both frequent visitors, according to Target store manager Chuck Simmons, who jokes that he has become so friendly with Wal-Mart's district manager that "he's like my second boss."

[back to top]

Wal-Mart's Silence Distorts Retail Results

By Jeanine Poggi,
TheStreet.com
June 4th, 2009                          [back to top]

When retailers reported their May same-store sales on Thursday, the numbers fell short of analysts' expectations. Investors, fearful these dismal results signaled a prolonged weakness in consumer spending, poured bucketfuls of red all over the sector, and sending the S&P Retail Index down by as much as 3% during the day.

But lost amid the cacophony was one simple fact: These results may be as skewed as a fun-house mirror, as a result of the absence of Wal-Mart Stores.

The behemoth, which accounts for a little more than 11% of sales in the U.S. retail market, announced last month that it would no longer report monthly sales -- and it's arguable that the entire sector's results were dragged down as a result.

The numbers released today by the International Council of Shopping Centers showed that in May U.S. chain-store sales sank by 4.6%.

Over the past six months, though, Wal-Mart has consistently outperformed the ICSC Index. On average, Wal-Mart saw a 3.2% monthly increase in sales between November 2008 and April 2009, while U.S. chain stores as a whole fell .6% during the same period -- numbers capable, in light of the Wal-Mart's market share, of padding the entire sector.

Wal-Mart, of course, is hardly alone in ending its monthly same-store sales reports. Sears(SHLD Quote), Home Depot(HD Quote), Lowe's(LOW Quote), and Chico's FAS(CHS Quote) have all ended reporting the figures

Currently, in fact, comparable sales reports only represent about 10% of total U.S. retail sales, according to Customer Growth Partners. "The monthly reports Wall Street so breathlessly awaits really primarily portray only two retail sectors, apparel chains and department stores, each of which represent well under 3% of U.S. personal consumption expenditures," Craig Johnson, president of CGP said in a statement.

All of which essentially makes retail sales like the Queen of England -- a curiosity worth gawking at, but far less powerful than the reputation that proceeds it.

[back to top]

Walmart Looks for Expansion Overseas

KATV (Arkansas)
June 4th, 2009                         [back to top]

Walmart officials say the retail giant is actively seeking acquisitions abroad, including in Russia, as its low-price formula helps it pick up market share and customers in the global recession.

Wan Ling Martello, senior vice president and chief financial officer of Walmart, told reporters at a media conference Thursday that the company is well positioned for growth. Company officials are preparing for Friday's annual shareholders meeting.

Sales in Walmart's international business, which now accounts for almost 25% of its revenue, rose 9.1% to $98.6 billion in its latest fiscal year, which ended January 31st. The company operates 10 different formats like hypermarkets and supermarkets under more than 60 store banners. Martello said about 80% of Walmart's international business is from acquisitions.

[back to top]

Wal-Mart Plays It Smart

By Melinda Peer,
Forbes
June 4th, 2009                               [back to top]

Company outshines rivals by helping customers save money during rough economic times.

It hardly seems fair. On the same day that retailers said same-store sales continued to slump in May, Wal-Mart Stores--which recently opted out of providing monthly sales updates--managed to show up rivals with plans to hire 22,000 new workers for positions at stores across the U.S.

Michigan, which is still reeling from the collapse of the U.S. auto industry, stands to benefit the most from the news with 1,500 new positions opening up in the state. (See "Detroit: Beyond Bankruptcy.") Arizona and Florida, two areas hit hard by the housing market crash, are next in line with 1,300 new positions slated for each state. (See "So Much For A Housing Bottom.")

"We are excited that during these economically challenging times, Wal-Mart is investing in Michigan by creating good paying jobs and offering benefits to their employees," said Richard Studley, president of the Michigan Chamber of Commerce. "The positive impact that these jobs will have on the families of the new employees and their communities cannot be overstated."

So while the rest of the retail sector is desperately trying to pry sales from consumers who are loath to spend, Wal-Mart is actually putting money back into customers' wallets. By successfully cultivating the perception that it makes competitive pricing a priority, Wal-Mart has become the go-to place for shoppers at various income levels looking to save money during the weak economic environment. The company is one of the few retailers to see an uptick in sales from new customers, signaling that it's taking customers from rivals.

"Traffic at Wal-Mart U.S. stores has increased for seven consecutive months, with comp traffic gains at affluent stores--those located in areas where household incomes are greater than $65,000--continuing to outpace the rest of the chain, as more affluent customers are opting to shop at Wal-Mart during the tough economic times given the company's better in-store experience and strong commitment to price leadership," said Baird analyst Peter Benedict. On Wednesday, Baird initiated coverage of Wal-Mart Stores (WMT -news - people ) at "outperform" with a price target of $60.

Benedict expects the company to retain these key customers, which yield higher sales tickets, even after the economy recovers by focusing on improved product mix and the in-store shopping experience. On Wednesday, Wal-Mart announced it will carry an exclusive clothing line by teen star Miley Cyrus and clothing designer Max Azria of BCBGMAXAZRIA Group, in an attempt to lure customers from food and essentials aisles and into the stores' clothing and entertainment sections. Target (TGT - news - people ) has used designer partnerships to freshen its image and long-ago distinguished itself as a discounter that doesn't sacrifice style--a perception that may have hurt the retailer as consumers made bargains their top priority. Recently, the retailer has been venturing into groceries and emphasizing its competitive pricing to better compete with Wal-Mart. (See "Look Out, Wal-Mart.")

On Thursday, Target said same-store sales fell 6.1% in May, compared with the 4.3% decline expected by analysts. Its stock was down by 37 cents, or 0.9%, at $40.60, during Thursday's afternoon trading session. Shares of Costco Wholesale ( COST - news - people ) and BJ's Wholesale Club ( BJ - news - people ) also traded lower, having posted monthly same-store sales declines of 7% and 6.8%, respectively. The wholesalers were hurt by lower gas prices, which dragged down fuel sales.

Shares of Costco lost 99 cents, or 2%, at $47.48 while BJ's stock shed $1.49, or 4.2%, at $33.63. Wal-Mart shares were also down, by 15 cents, or 0.3%, at $50.73. The Retail HOLDRs ( RTH - news - people )exchange-traded fund was down by 61 cents, or 0.8%, at $80.42.

[back to top]

Wal-Mart Employees Demand Better Pay, Benefits, in Durant

By Rita Kotey,
KXII
June 4th, 2009                                [back to top]

DURANT, OK -- Some Wal-Mart employees from across Oklahoma gathered at the Durant store Thursday morning to say they want better pay and more affordable health insurance. Some employees say they want to organize a union to stop unfair treatment of workers. Rita Kotey has the story.

"I’ve had to work two jobs just to make ends meet here," Susi Hernandez said.

"Their slogan that says saves money live better their saving money because they don’t give the employees enough pay or benefits," Vicki Barnes said.

Vicki Barnes and Susi Hernandez both work at the Durant Wal-mart. They say with low pay and un-affordable health insurance they are ready to take action.

"I do believe I’m being treated unfairly as an associate there," Hernandez said.

They gathered with other employees from across the state to get the word out about options that employees could have if the employee free choice act is passed.

It’s pending legislation that would allow the national labor relations board to certify their union and become their bargaining representative, if a majority of employees sign cards in agreement.

Some employees like Peggy Johnston say that would give her the voice and representation she has not had in the six years she's been a Wal-mart employee.

"It would give us the choice to organize a labor union and it would give us the choice to have a representation and have somebody to help us to gain the things that we need," Johnston said.

Wal-Mart corporate representative Michelle Bradford says

"We urge members of congress to appose the legislation because we believe it would eliminate freedom of choice and the option of a secret ballot. We are hearing great things from out associates across the country saying they are enjoying the jobs, pay, and the opportunity to advance. “

Protesters say until legislation is passed for the employee free choice act they will try to convince other employees to join their cause.

"Whether than them tell us that labor unions are bad we cant look into them we want the choice we want to stand up for our rights,” Hernandez said.

[back to top]

Wal-Mart says it will create 22,000 jobs in 2009

Associated Press,
06.04.09                                                 [back to top]

BENTONVILLE, Ark. -- As Wal-Mart Stores Inc. opens about 150 new or expanded stores in the U.S. in 2009, the company expects to hire about 22,000 people for new positions.

Those positions include plenty of cashiers and stock clerks, but the world's largest retailer will also be adding store managers, pharmacists and personnel workers.

Wal-Mart ( WMT - news - people ) is holding its annual shareholders meeting on Friday, and employees from its stores around the world are spending the week in Bentonville at company headquarters.

Wal-Mart, still the target of criticism from union-backed groups for its pay and benefits, has improved its health insurance coverage and opened it to full- and part-time employees. The company says 94 percent of its employees have health coverage, either through Wal-Mart or another family member.

"At Wal-Mart, we offer competitive pay and benefits and real opportunities for our associates to advance and build careers," Wal-Mart Vice Chairman Eduardo Castro-Wright said. "Job creation is just one way in which we're working hard every day to help people across this country live better."

Other employee benefits include a 401(k) plan, stock purchases and discounts for workers making in-store purchases.

The company has touted its generic drugs program in which Wal-Mart is selling $4 prescriptions for many popular medicines. Competitors, such as Kroger Co. ( KR - news - people ), have matched the price for some prescriptions.

"During this difficult economic time, we're proud to be able to create quality jobs for thousands of Americans this year," Castro-Wright said.

Earlier this year, the company shared more than $2 billion with its workers through bonuses, profit sharing and payments into the company 401(k) plan.

Wal-Mart has more than 2.1 million employees in the U.S. and abroad. The company had sales last fiscal year of $401 billion.

Copyright 2009 Associated Press. All rights reserved

[back to top]

Minnesota judge approves Wal-Mart wages settlement

Associated Press,
06.04.09                                            [back to top]

HASTINGS, Minn. -- A Minnesota judge has given final approval to a settlement of a wages-and-hours lawsuit against Wal-Mart Stores Inc. that could be worth up to $54.25 million.

A joint news release from Wal-Mart ( WMT - news - people ) and the plaintiffs' attorneys on Thursday says the settlement concludes seven years of litigation over Wal-Mart's employment practices in Minnesota.

About 100,000 people who worked for Wal-Mart in the state from Sept. 11, 1998, until Nov. 14, 2008, are eligible for a share of the settlement.

Dakota County District Judge Robert King Jr. filed the final approval Monday. He ruled last summer that Wal-Mart cut workers' break times and failed to prevent employees from working off the clock.

Wal-Mart has faced dozens of similar lawsuits across the country.

Copyright 2009 Associated Press. All rights reserved

[back to top]

Labor, land-use activists offered Salinas a Wal-Mart 'compromise'

Donohue, Lutes: Permit a 'negotiating tool' with Wal-Mart

By MIKE HORNICK
The Californian
June 4, 2009                                        [back to top]

Tuesday's Salinas City Council decision to repeal its big-box store ordinance was based in part on a proposal by labor and community groups that had supported the ban.

Last week, Chris Fitz, representing groups including the Monterey Bay Central Labor Council and LandWatch Monterey County, presented a draft resolution to City Attorney Vanessa Vallarta. It could force Wal-Mart to meet terms of a conditional-use permit if negotiations with the retailer aren't to the city's satisfaction.

"There wasn't anything wrong with the ordinance," Fitz said Wednesday. "But because there were pressures and reasons the council might repeal [it], we came up with a compromise that addresses the concerns of voters who signed the referendum petition."

Fitz is the former director of LandWatch and is now forming a new organization, Coalition for Working Families. He also works for UniteHere! Local 483.

The ordinance banned stores of 90,000 square feet or more from devoting more than 5 percent of retail space to groceries and other nontaxable items. Wal-Mart, which intends a grocery mix of at least 20 percent, delayed occupying the former Home Depot in the Harden Ranch Plaza Shopping Center in north Salinas because of the ban. Now that the ban is lifted, resolution awaits negotiations with the city. The council voted 4-3 to repeal the ban and directed city staff to negotiate further with the retailer on traffic impact mitigation fees and other issues.

If negotiations are not successful, the council reserved the option of a conditional-use permit for Wal-Mart, which would trigger a California Environmental Quality Act review. Resulting impact study fees, for everything from traffic to carbon footprint and endangered species, would cost hundreds of thousands of dollars, Councilwoman Jyl Lutes said.

'A negotiating tool'

If a labor-backed proposal opened a door to Wal-Mart, it also put ban opponents Mayor Dennis Donohue and Councilwoman Janet Barnes in the unexpected position of opposing a motion to repeal it.

"The conditions are potentially more onerous than the original ordinance," Donohue said. But he emphasized that the conditional permit is an option, not a requirement. "It's a negotiating tool," he said. "I think there was movement in the right direction. We may determine there's no significant traffic impact beyond what's being negotiated."

Donohue said Tuesday's vote expressed the council's will to weigh in on city staff's negotiations with Wal-Mart. "The ban was not rescinded unconditionally," he said. "So the future of Wal-Mart is still uncertain."

The council could take up the matter again at its June 23 or July 21 meetings, Donohue added.

Traffic impact fees are normal business expenses, the mayor said. It's the council's process as much as its policies that is getting attention.

"The business community is still unsettled about what happened Tuesday night," he said. "Business wants clear signals. If we're not predictable, it can be stifling."

"The use permit is the leverage we have with Wal-Mart," Lutes said. "You either mitigate the traffic impact, or we've got four votes on the City Council that will say the thing goes to a CEQA review."

Lutes cites a city report that estimates an added 3,500 cars per day on Boronda Road if Wal-Mart moves in.

"That's 350 new cars per hour on a road that can't take one more car at certain times of the day," she said.

The use permit idea has been applied similarly in Oakland, Inglewood and other California cities, Fitz said.

"When cities are broke and there's no money, this is a good tool to get roads fixed or widened," Lutes said. "This would apply equally to Target, Kmart, Macy's, whoever. Maybe there isn't always a big change in use; but if there is, the city shouldn't have to pay the cost. That should be part of the price of doing business."

Wal-Mart could not be reached for comment Wednesday. The retailer purchased the Home Depot site for $8.5 million.

"The ordinance we suggested bans nothing," Fitz said. "All it does is create a conditional use. But Wal-Mart could referend that, too."

Additional Facts What's next The Salinas City Council may take up the Wal-Mart issue again at its June 23 or July 21 meetings.

 [back to top]

Area Wal-Mart Workers Join Effort to Unionize

By Ylan Q. Mui,
The Washington Post
June 3rd, 2009                                        [back to top]

The United Food and Commercial Workers union held organizing campaigns at several Wal-Mart stores across the country this week -- including one yesterday in Landover Hills -- as it renews pressure on the world's largest retailer to increase pay and improve health benefits.

In the Washington area, union representatives said they have been responding to increased inquiries from workers. UFCW Local 400 spokesman Mark Federici said hundreds of Wal-Mart employees in the area have signed union authorization cards, but he declined to give a specific number.

"They see their company actually being a rare success story in this tight economy, and they rightfully are asking where do they fit in to all that," he said.

Similar rallies were held at stores in Seattle and Miami this week, a few days before Wal-Mart will hold its annual shareholders meeting Friday at its Bentonville, Ark., headquarters. The UFCW is hoping to build on momentum from a rally it held in April that drew Wal-Mart employees from 17 states to Capitol Hill to meet with lawmakers and lobby for the Employee Free Choice Act, the labor movement's top legislative priority. The bill would allow unions to organize through signing cards rather than a secret ballot election, as many companies require.

Wal-Mart has long been at loggerheads with the labor movement, particularly over health care. After heavy union criticism, the retailer introduced plans with nominal premiums and decreased the waiting period for part-time employees to qualify for coverage. It also slashed the cost of many generic prescription drugs to $4 at its pharmacies, forcing competitors to follow suit.

"We don't think our associates have any reason to be more interested than before, and looking at all we offer, many of our associates just don't seem to feel that union membership would be a better deal," Wal-Mart spokeswoman Daphne Moore said.

Efforts to unionize Wal-Mart employees in Canada have gained traction. In April, workers at a store in Saint-Hyacinthe, Quebec, won the only collective bargaining agreement in North America after four years of legal wrangling. Last year, Wal-Mart shut down the tire and lube department of a store in Gatineau, Quebec, after a handful of employees secured a union contract.

Wal-Mart is the country's largest private employer with about 1.4 million workers. Shoppers have flocked to the behemoth retailer known for its low prices as the recession has taken a toll on their wallets. The company trimmed about 800 workers from its headquarters staff this year but avoided the mass layoffs that have plagued other retailers such as Macy's and Home Depot, which each eliminated about 7,000 positions.

 [back to top]

Cheering success, seeking more at Wal-Mart annual

By Nicole Maestri,
Reuters
June 3rd, 2009                           [back to top]

SAN FRANCISCO (Reuters) - Wal-Mart Stores Inc employees could be shouting the retailer's corporate cheer with renewed vigor at this year's annual meeting.

Thousands of employees from across the globe will descend upon Fayetteville, Arkansas for the retailer's June 5 annual meeting. After years of being hounded by union-backed critic groups, politicians and competitors, employees can revel in the fact that their employer has gotten its groove back and is gaining market share as the worldwide economic downturn drives frugal shoppers into its stores.

Investors are eager for more gains, and Wal-Mart, under newly installed CEO Mike Duke, is focused on delivering them by expanding its global reach and implementing "Project Impact" to improve sales in its U.S. stores.

"The fact is that all over the stores, there are new brands, there are new shoppers coming in to the stores, and they are buying 40 percent more than regular shoppers," said Gilford Securities analyst Bernard Sosnick.

But the question hounding the retailer amid its recent success is can these gains last when the economy improves and shoppers once again choose to shop elsewhere.

"The battle among retailers is to get footsteps in the store," Sosnick said. "I don't know what's going to happen three years after a recovery, but I know what's going to happen at its inception -- whoever's got the footsteps will benefit."

PROJECT IMPACT

Wal-Mart was gaining momentum at its annual meeting last year as its strategy of emphasizing low prices and sprucing up its stores coincided with a recession that sent consumers into its aisles seeking discounts on food and medicine.

But the momentum accelerated. While other retailers have seen their sales plunge, Wal-Mart has posted positive U.S. same-store sales for the past 24 months, and its results have outpaced smaller rival Target Corp for 17 consecutive months, according Thomson Reuters data.

Its stock rose 18 percent last year as investors sought a safe haven amid a financial crisis. But this year, its stock is down almost 10 percent as investors seek better returns in shares of more discretionary retailers, like Target.

"What we would watch for with the stock is whether or not some of these share gains that they've gotten principally because of the economic downturn and their better value proposition ... will stay," said Janna Sampson, co-chief investment officer at OakBrook Investments.

To try to keep the business of the new shoppers Wal-Mart has lured amid the recession, the company is reducing clutter and widening aisles in its stores while getting rid of slow moving merchandise, beefing up its selection of name brand products, and relaunching is Great Value private label.

It expects the effort will result in fewer markdowns, help improve its labor productivity, and make its stores a "friendlier" place to shop.

HINTS ON SALES OR GLOBAL EXPANSION

Sampson said she will be listening for any guidance Wal-Mart can provide as to how sales fared in May. While on June 4 many large U.S. retail chains will report their monthly results, Wal-Mart is ending its practice of reporting its U.S. sales on a monthly basis.

"I think if sales are good, they'll probably make some comments," Sampson said. "If they're soft, they may not because they may not want to put a down note on the annual meeting."

Goldman Sachs analyst Adrianne Shapira said in a research note that she will listen for updates on sales, its expenses and how inflation or deflation is affecting its results.

Last year, Wal-Mart's sales got a huge boost as food prices soared but that benefit has since moderated.

Wal-Mart is not just looking state-side to boost its business. Last year at its annual meeting, it said Southeast Asia was "an area that has potential", and it has been vocal about exploring opportunities in Russia. It has also recently acquired a majority stake in Chilean supermarket chain D&S.

Global expansion is an area Duke knows well, having headed Wal-Mart's international unit before becoming CEO on Feb 1.

While the annual meeting marks Duke's debut as the retailer's CEO, he is not the only executive in a new job. Doug McMillon, the former head of its Sam's Club warehouse division, is now leading Wal-Mart International. Wal-Mart hired former Michaels Stores Inc CEO Brian Cornell to head Sam's Club.

[back to top]

Wal-Mart Seeks Super Center In Manchester

WMUR (New Hampshire)
June 3rd, 2009                                 [back to top]

MANCHESTER, N.H. -- Controversial plans for a Super Wal-Mart in Manchester are one step closer to being realized, following a vote of the board of Aldermen.

Tuesday night the board agreed to rezone land on Gold Avenue from industrial to commercial, paving the way for the retail giant to go forward with its plans.

Neighbors opposed to the project said they have nothing against Wal-Mart but think that streets in the area are too narrow to support a 190,000 square foot store.

Supporters said Wal-Mart will bring jobs to the city and applaud the zoning change because they worried heavy industry may have tried to develop the property.

 [back to top]

Wal-Mart to stop reporting monthly sales figures

By Sandra M. Jones ,
Los Angeles Times
June 3rd, 2009                                     [back to top]

The retailing giant says it will report sales quarterly from now on because it wants Wall Street to focus on its long term. It's following the lead of Sears, CVS, Home Depot, Ann Taylor and others.

Few retailers these days have an appetite for telling the world how their stores are faring each month, and now Wal-Mart Stores Inc. is joining the crowd.

When retail chain stores report May sales today, the world's largest retailer for the first time won't be among them. Wal-Mart said it wants to encourage Wall Street to take a longer term view of the company, and so from now on will be reporting sales quarterly.

The move comes as analysts are predicting another down month for the retail industry and getting a handle on consumer behavior becomes increasingly difficult.

Wal-Mart's decision is vexing because it accounts for 15% of retail industry sales, according to an estimate from Credit Suisse, the New York-based investment bank.

"Wal-Mart has a big impact," said Matthew Katz, a New York-based managing director at AlixPartners, a consulting and financial advisory firm.

A growing chorus of retailers have stopped reporting monthly sales: Sears, Chico's, CVS, Family Dollar, Ann Taylor, Home Depot, just to name a few. Macy's stopped reporting monthly sales last year but restarted under pressure from Wall Street.

Investors like the monthly number because it provides a window into a company's performance and which retailers are attracting the most consumers.

Retailers are often frustrated with the monthly ritual because the figure alone can be misleading. A shift in spending on a big holiday, such as Easter falling in March one year and in April the next, can make it look like a single month is particularly bad or unusually good and change Wall Street's perception of the company.

Five years ago there were 87 companies that reported monthly sales. Today there are 34, said Frank Badillo, senior economist at Retail Forward.

Monthly chain stores sales have "always been a piece of the puzzle" when looking at the economy, Badillo said. Without Wal-Mart, he said, it's just a smaller piece.

The most telling part of the monthly report is same-store sales, or sales at stores open at least a year. A Wall Street analyst created the same-store sales measure in the early 1970s to try to figure out what was really going on at a failing department store chain.

Jerry Gallagher had just taken over coverage of W.T. Grant Co. for Donaldson, Lufkin & Jenrette. The retailer's sales were growing as it opened outlets, but Gallagher suspected it was in trouble. When he asked the retailer how its older stores were doing, the company wouldn't say. So Gallagher came up with a calculation, calling it same-store sales.

The theory: All things being equal, if same-store sales declined, the retailer's profits are probably falling. It became, and is today, the barometer by which Wall Street takes a quick measure of a retailer's health.

But over-reliance on the metric has hurt the retail industry, Katz said. Young stores that show big percentage gains in annual revenue can boost same-store sales figures. Wall Street rewarded retailers for building new stores, and that led to too many stores, Katz said.

"It creates an illusion of growth," Katz said. "As an industry we're oversaturated, and we're paying for it now with tremendous store closures."

Wal-Mart has managed to post monthly sales gains during one of the most brutal retail climates in a decade, while the industry at large has been in decline. The discount chain said same-store sales increased 2.9% for the March-April period combined.

But now Wal-Mart is facing tough comparisons from a year ago, when consumers were spending federal government rebate checks at its stores.

Wal-Mart declined to comment on the timing of its decision.

"We manage the company for the long term," said a Wal-Mart spokesman, "so we made this decision. It gives a better view of the long-term performance of our U.S. stores."

 [back to top]

Cedar City Walmart sued for racial profiling

thespectrum.com
June 3rd, 2009                           [back to top]

CEDAR CITY — A federal lawsuit was filed Tuesday against Walmart in Cedar City for alleged racial profiling and discrimination by Hoole & King Law Offices of Salt Lake City on behalf of Chandra M. Green. Advertisement

The former resident of Cedar City alleges in her complaint demanding a jury trial that she was detained by Walmart security for no other reason than the color of her skin. Green is black and the big box store had experienced a string of bad checks written by black women two months earlier from the time she was detained while shopping, March 12.

The complaint says the case is about Walmart’s failure to properly train and monitor the behavior of its employees and security guards to prevent discriminatory treatment of the store’s patrons. The purpose of the suit is to protect her rights and the rights of minority shoppers at Walmart, the complaint says.

[back to top]

Police: Wal-Mart Robbery Likely An Inside Job

KIROTV
June 3rd, 2009                        [back to top]

LAKEWOOD, Wash. -- The robbery of a Lakewood Wal-Mart that left an armored car guard dead was likely an inside job involving an employee of the store, police sources tell KIRO 7 Eyewitness News.

A store employee was among two people arrested Tuesday night in the investigation, police sources said. When reporter Jeff Dubois asked workers at the store if she worked there and was told "she is not here today."

The man accused of firing the fatal shot in the robbery was arrested Wednesday morning, police sources said. The sources said Calvin Finley was arrested at a motel in nearby Fife.

Meanwhile, officers from multiple police agencies and the FBI continue searching for the other robber seen on surveillance camera images immediately after the shooting and robbery.

A single bullet killed a guard and wounded a male customer during the Tuesday afternoon robbery in Lakewood.

Police released these surveillance camera images of the two men they said robbed an armored car guard, fatally shooting him.

The robbers grabbed a money bag from the guard and drove off after the shooting. Their stolen white getaway car was later found abandoned in Tacoma.

Killed was Kurt Husted, 39, a 16-year veteran of Houston-based Loomis armored cars, company spokesman Pat Flaherty said.

Husted's family issued a statement, saying they deeply mourn his loss.

"He was a wonderful, caring person whom we loved deeply and will miss forever. He was also a very private person," the statement said.

Husted was shot outside a branch of Anchor Bank located inside the Wal-Mart.

"As he was coming out of the bank, he was shot in the head," said Lakewood police Lt. Heidi Hoffman.

The guard had been wearing a bulletproof vest, Flaherty said. He said Husted was not married.

Kurt Husted

The same bullet also injured a male customer who was hit in the shoulder, police said. He was with a child who was in a shopping car. The child was uninjured and the man's injury was not life-threatening, she said.

The customer, who was not identified, was taken to Tacoma General Hospital.

There was money in the bag the robbers grabbed, Hoffman confirmed, but she declined to say how much it contained.

In a statement, Wal-Mart officials said their thoughts and prayers were with those "victimized by this tragedy. We appreciate the quick response of local authorities, and we are working with them in their investigation."

 [back to top]

Salinas City Council repeals big-box ban

4 to 3 vote ties Wal-Mart's future to use permit, negotiations with city

By MIKE HORNICK
June 3, 2009                                                      [back to top]

The Salinas City Council repealed its ban on big-box stores with more than 5 percent of retail space in groceries late Tuesday, but by a 4-3 vote tied future discussions with Wal-Mart to a conditional use permit at the former Home Depot in Harden Ranch.

Councilwoman Jyl Lutes said she favored "a conditional use permit that requires anyone coming into a building 75,000 square feet or more to show a benefit to the community." She was joined in the vote by council members Sergio Sanchez, Steve Villegas and Gloria De La Rosa. Mayor Dennis Donohue and council members Tony Barrera and Janet Barnes opposed the motion.

The council vote sends the matter back for further negotiations with Wal-Mart, and left ban opponents in the audience disappointed despite the repeal.

"I would only rescind the ban if there were some guarantee like a new conditional use permit tied to paying for the impacts," Lutes said. Lutes said the traffic impact on Boronda Road, which narrows and congests near the Harden Ranch site, was her main concern and that a permit would offer the city its "only leverage" with Wal-Mart.

"It's going to cost millions of dollars to fix the problem [at Boronda]," Lutes said. "That's not all Wal-Mart's problem if they go in, but it's going to make it very difficult for people who live around Harden Ranch to move around."

Donohue had favored further negotiations with Wal-Mart, but said the permit would be too limiting.

"The council can sit down with Wal-Mart and do business," Donohue said. "If they want to be in this [area's] market they need to be in Salinas. The incentives break our way.

"If we do not rescind this, it represents a clear and present danger to the economic future of this community," Donohue said.

"I would be supportive of repealing the ordinance if we can direct the staff to come back with something that deals with traffic and other services the city provides," Councilman Sanchez said. Sanchez said he was concerned that the projected $500,000 in annual sales tax revenue from the new store might be "washed away by the costs of providing services for Wal-Mart."

"It's a migraine that won't go away," Councilman Villegas said. "I'm all for business; I know we need it. But I don't want to pay $230,000 for an election. It's a dilemma."

The vote brought to a sudden end three and a half hours of public comment and council discussion on the much-debated ban.

Thirty or more Wal-Mart supporters waved signs saying, "Repeal the BBO," and many spoke during public comment.

"We've got this business that wants to come to Salinas and we're fighting them tooth and nail," said Brian Higgins of Salinas Jaycees, who supports repeal of the city's big-box store ban.

Deanna Carvey, director of Salinas Oldtown Association, said the ordinance served no purpose but to "demonize one business at one point in time."

"The city," she said, "does not have a viable alternative [at Harden] that would generate as much sales tax revenue as Wal-Mart."

Connie Jones of the Red Lobster restaurant spoke of the impact on her business when Home Depot moved out and Circuit City closed.

"Home Depot closed two years ago and we're in a dying strip mall," Jones said. "But we haven't heard from the City Council, ÚWhat can we do to help you?' "

"You're doing a great job," a ban supporter told council members. "You're asking the right thing. Don't trade your job for a bargain."

"We are not telling Wal-Mart not to come in, [the ban] tells them to do business in a certain way," a representative of the Monterey Bay Central Labor Council said.

"You will get what you pay for, and pay for what you get," said a Prunedale business owner who supported the ban. "Some claim Wal-Mart was treated unfairly or the council was unfair to business. To those specious claims I say, ÚHogwash.' "

"They are too big to have to negotiate with us, this dot on the map that is Salinas," David Lutes said. "Postpone your decision to see what the impact really is."

Villegas asked Wal-Mart spokesman Aaron Rios if Wal-Mart is willing to put up a million-dollar bond to guarantee that the Westridge store, which the company plans to vacate for Harden Ranch and remodel for a second store, would not be left vacant.

"We're willing to negotiate, but yesterday the number was $500,000," Rios said.

"I'll cut it back to 500,000, if that's what you like, but can you give me a Yes or No?" Villegas answered.

"I have the authorization to move forward with discussions; I don't have the authorization on $500,000," Rios said.

[back to top]

Unions Target Wal-Mart

By Lana F. Flowers,
NWA
June 2nd, 2009                      [back to top]

SPRINGDALE — Unions trying to organize Wal-Mart workers picked shareholder meeting week to stage demonstrations in Little Rock and elsewhere in the nation.

Bentonville-based Wal-Mart Stores Inc. does not have any unionized stores or departments in the United States. Walmart employees who want to form unions will picket at 2 p.m. today at the Walmart Supercenter at 8801 Baseline Road in Little Rock, although the shareholder's meeting is 200 miles away in Fayetteville.

Unions want to call attention to the Employee Free Choice Act, which would allow unions to form by secret ballot or when a majority of workers sign cards stating they want to form a union. The act also would require employers to meet with union employees within 90 days or face federal arbitrators, who would set terms of the union contracts good for up to two years.

Local opponents of the act were also busy this week. Rogers businessmen Chris Crossland and Pat Carroll, both of Crossland Construction in Rogers, are among a group of 11 from Arkansas who traveled to Washington, D.C., today to lobby against it.

A spokesman for U.S. Sen. Blanche Lincoln, D-Ark., confirmed that Crossland and Carroll are to meet with Lincoln this morning.

Crossland Construction in Rogers held a lunch for about 288 people in late March. The lunch included speakers who were against the Employee Free Choice Act and those attending included bankers, real estate brokers, construction firms, construction contractors and others.

The free choice act appears to be dormant, according to Katie Laning Niebaum, a Lincoln spokeswoman. The act was introduced March 10 but has not been up for a Senate vote, she said.

"Right now, the senators who are doing the big push behind the bill recognize it does not have the votes to pass in the Senate in its current form," Niebaum said.

Some senators are working on a compromise version of the free choice act, but Lincoln is not one of those, Niebaum said.

If the free choice act does not pass, the United Food and Commercial Workers union will continue efforts to unionize retail workers, including those at Wal-Mart, said Meghan Scott of WakeUpWalMart. WakeUpWalMart also is using shareholders' week to launch a national petition drive and will distribute 50,000 cards asking people to support better wages, health care and working conditions for Walmart workers, according to a news release.

WakeUpWalMart is funded by the United Food and Commercial Workers International Union. The union in late spring sent representatives to 15 states — including Colorado, Florida and Texas — to get Walmart workers to sign union cards, said Jill Cashen of WakeUpWalMart. She did not have figures on how many Walmart employees nationwide signed the union cards.

The United Food and Commercial Workers' Union has been working harder in Arkansas and other areas to get Wal-Mart employees to sign union cards, said Wal-Mart spokeswoman Daphne Davis Moore. She did not know how many Arkansas Wal-Mart employees signed union cards.

Workers can form unions under existing law if at least 30 percent of them sign cards expressing union interest, then call for an election, said Cynthia Nance, dean of the School of Law at the University of Arkansas.

Unions are formed by bargaining unit among employees with something in common, Nance said. Walmart automotive department employees could form a union while the rest of the store did not, for example.

Employees then contact the National Labor Relations Board to have a union election. The board conducts a hearing on employees' objections and sets polling places, Nance said. Then, a majority of employees must vote to form a union. Employees or the employer then can contest results to the National Labor Relations Board, Nance said.

Arkansas Walmart workers earn an average of $10.86 per hour, according to state figures on http://walmartstores.com, the retailer's public relations and news release Web site. That figure includes workers at discount stores, Supercenters and Neighborhood Markets but excludes Sam's Club workers.

Oklahoma Walmart workers earn an average of $10.51 per hour and those in Missouri earn $11.27 per hour, according to Wal-Mart.

Moore said Wal-Mart employees don't need unions to air concerns because the retailer's management will hear any grievances and work with employees to solve them.

There are no unionized Wal-Mart stores in the United States, Moore said.

Walmart meat packers in Jacksonville, Texas, voted to form a union nine years ago. Walmart then eliminated its meat packing department. The retailer decided to sell case-ready meats, which are packed before being shipped to stores. Moore said that decision had nothing to do with workers' efforts to unionize. She forwarded a copy of a National Labor Relations Board opinion from January 2001 that stated Wal-Mart had a plan to use case ready meats prior to the union activity.

The only unionized Wal-Mart in North America is in St-Hyacinthe, Quebec, Canada. About 180 workers got union contracts April 8. Arbitration in August 2008 allowed workers at a Wal-Mart tire and lube express in Gatineau, Quebec, to have a collective bargaining agreement. Wal-Mart in October 2008 closed that tire and lube express, according to a report from the Ottawa Citizen newspaper.

An Ottawacitizen.com article from October 17, 2008, stated Wal-Mart spokesmen said it closed the tire and lubrication shop because of costs tied to the labor agreement.

In 2005, Wal-Mart closed a store in Jonqiuere, Quebec, days before an arbitrator was to impose a contract.

"The union contract that was imposed is simply unworkable," Wal-Mart Canada spokesman Andrew Pelletier told the Ottawa Citizen in October.

[back to top]

Walmart workers for change to rally tomorrow

By Richard Blake,
Examiner.com
June 2nd, 2009

Walmart Workers for Change will be holding a rally tomorrow morning at 9 a.m. in the park near 1st and Teller in Lakewood. If you can't make their rally be sure to take a look at their website at http://www.walmartworkersforchange.org, especially if you have the misfortune of working for Walmart. The rest of us ought to see if there is some way we can lend support to their movement as well. After all Walmart is likely responsible for sending more American manufacturing jobs to China than any other American corporation.

If there is one company in this country that needs to have a union it's Walmart. Walmart is the largest retailer in the world and largest employer in the United States. Walmart workers average $10.86 hr for an average 34 hour week, two thousand dollars a year short of the federal poverty level. Meanwhile Walmart's CEO makes over $30 million a year. However, that is even chump change compared to the holdings of the Walton family. They are worth over $100 billion.

In addition to a living wage Walmart workers are seeking a health care plan that doesn't leave nearly half of Walmart employees uninsured or covered by taxpayer funded programs, which, in turn are paid for by the rest of us. And, of course the devastation that Walmart has wrought on locally owned small businesses that have had the misfortune to be in an area where a new Walmart has gone in are well known.

During the current recession Walmart (which was arguably caused at least in part by corporations such as Walmart) is one of the few companies that has actually prospered. If for nothing else the Walmart employees involved ought to be commended for their courage. Walmart has been notorious for its use of just about any tactic to resist unionization in the past.

Wal-Mart will implement sustainable packaging scorecard in Mexico

Emballage Digest
June 1st, 2009                            [back to top]

In a special conference session at Expo Pack México (June 23-26, Mexico City, Mexico), Wal-Mart Stores, Inc., will provide details on its plan to implement a Sustainable Packaging Scorecard in Mexico.

The retailer plans to launch the scorecard in Mexico toward the latter part of this year. and will give at Expo Pack Mexican packagers and the packaging supply chain that supports Wal-Mart’s suppliers the first detailed public view of the Scorecard’s objective, scope and timeline. In addition, Wal-Mart will provide details on the development of its Mexican Packaging Sustainable Value Network (SVN), which is a committee that will work in collaboration with Wal-Mart on the launch of the scorecard. Wal-Mart will describe the SVN's role and makeup, and how it plans to contact and communicate with potential members during and after the event. “Wal-Mart first announced a sustainable packaging scorecard for suppliers to its U.S. stores during PACK EXPO 2006. The scorecard was actually launched in the U.S. in 2008 as the first step of a plan to roll out the scorecard internationally,” said Charles D. Yuska, PMMI president and CEO.

[back to top]

Wal-Mart Wins Initial Approval for Wage Settlements

By Margaret Cronin Fisk,
Bloomberg
June 1st, 2009                             [back to top]

May 28 (Bloomberg) -- Wal-Mart Stores Inc., the world’s biggest retailer, won preliminary court approval to pay as much as $85 million to settle 30 lawsuits claiming the company didn’t pay employees for all hours worked.

The settlement covers cases filed in federal courts in 29 states and Puerto Rico, according to court filings. The accord is part of a global $640 million resolution of wage-and-hour claims reached between Wal-Mart and workers in December.

The settlement is “fair, reasonable, and adequate,” U.S. District Judge Philip M. Pro said in granting tentative approval today. The agreement was a “hard-fought compromise of claims that have been actively litigated before this court” since February 2006, he said.

The suits claimed that Bentonville, Arkansas-based Wal-Mart violated wage and hours laws by denying workers rest breaks and manipulated time cards to “shave” their pay. The suits were filed as class actions, or group lawsuits, on behalf of all hourly workers in the individual states, including Alabama, Michigan, Maryland, Oregon and Texas.

Wal-Mart spokeswoman Daphne Davis Moore didn’t immediately return a call for comment.

The lawsuits are combined in In Re: Wal-Mart Wage and Hour Employment Practices Litigation, MDL 1735, U.S. District Court, District of Nevada (Las Vegas).

[back to top]

Longtime Wal-Mart officer Linda Dillman to leave the company

By Brian White,
Bloggingstocks.com
June 1st, 2009                               [back to top]

Wal-Mart Stores, Inc. (NYSE: WMT) hired Linda Dillman in 1991 through an acquisition, and she eventually became the Chief Information Officer of the world's largest retailer. Wal-Mart, in many ways, transformed the power of information to gain incredible efficiency and insight into supply, demand and supplier logistics under Dillman's watch. in 2006, however, Dillman took on the post of benefits and Risk Management -- not her specific cup of tea. One must wonder why she took the post, then?

All that is coming to an end in July, when Dillman will leave Wal-Mart permanently. One o the "Most Powerful Women" in Fortune's views, Dillman is leaving to go back to her roots in technology. It isn't clear where Dillman will end up, but you can guess that many a firm will be interested in her talents. Maybe Dillman will want to stay in the HR field, but running the systems that take care of all that information.

What happened to Wal-Mart under Dillman's tenure is nothing short of astounding. Using real-time information and creating systems to make use of the mountains of data flowing into and out of retailers every second, Wal-Mart was able to expand and continue serving hundreds of millions of Americans every month while knowing purchasing patterns and economic logistics enough to make sure all those items were on the shelves as fast and smartly as possible -- whether they were made in China or a few states away.

[back to top]

NW Arkansas Prepares For Walmart Shareholders Meeting

By Allison Woods,
NWAhomepage.com
June 1st, 2009                                       [back to top]

Walmart Shareholders are taking over the area. The Annual Walmart Shareholders Meeting is back again. This event brings in thousands of people from across the globe, and as hundreds of buses cruise into the area, businesses and residents prepare.

"I've lived in the Rogers area for the last six years and I've seen that the shareholders meeting is good for the economy, but it gets very congested, a lot of people," says Steve Duran, Rogers resident.

People from neighboring states and from across the world come to see Walmart’s homeland. Jon Martinek who moved here from the U.K to work for Walmart says one stop everyone is sure to make is at the 5 and Dime Walton Museum in Bentonville.

"I know that we have about a thousand coming in from different businesses around the world and everyone of those will come though this square. Some of the visitors will visit the center and some will visit the restaurants and see all the places we have to offer around here," says Martinek.

And that means businesses are going to be busy.

"It's going to be wild and crazy and we can't wait. It's going to be so interesting to have the opportunity to talk with so many people and to see who's from where," says Beth Cook, B Larue Gifts & Sass in Bentonville.

And some are even thinking about planting their roots right here in Arkansas.

"I’m from Dickson Tennessee and looking at Walmart for future companies to join and maybe moving by next week," says Nikunj Roi.

Events will be going on through the rest of the week and Friday is the shareholders meeting. But, starting tomorrow you'll see some big name performers in town.

[back to top]

Walmart to End Support for DRM-Wrapped Songs in October

By Mark Hefflinger ,
Digital Media Wire
June 1st, 2009                                            [back to top]

Retail giant Walmart (NYSE: WMT) has announced that it will shut down the servers maintaining access to customers who purchased security-protected songs from its online store before the company abandoned the use of digital rights management (DRM) in February 2008, Hypebot reported.

In an email to customers, Walmart suggested that customers who purchased DRM-wrapped songs back them up on CD; otherwise, after Oct. 9, they will no longer be accessible should one need to reinstall their operating system or suffer a system crash.

The company initially said in September 2008 that it would discontinue DRM server support, but after hearing from customers, it said in October that it would at least temporarily continue support.

Both Microsoft and Yahoo were forced to alter their own plans to discontinue support for DRM servers, with Microsoft (NASD: MSFT) pledging to continue support through 2011, and Yahoo (NASD: YHOO) offering to refund the song purchases.

While songs sold at Apple's (NASD: AAPL) iTunes Store are now DRM-free, the company has given no indication that it intends to discontinue support for them.

[back to top]

Wal-Mart Brings Big Acts to Fayetteville

KFSM-TV
June 1st, 2009                           [back to top]

It's Wal-mart Shareholders' Meeting week...and that means some pretty big musical acts are coming to Fayetteville.

It starts tonight with Sugarland and Brad Paisley.

The shows are at Bud Walton Arena.

Doors will open for shareholders at 5:45pm and for the general public at 6:15pm.

The show is scheduled to start at 6:30pm.

Tomorrow, Foreigner and Daughtry will perform.

Again, doors At Bud Walton will open at 5:45pm for shareholders and 6:15pm for everybody else.

[back to top]

VIDEOS

[back to top]

Fighting Wal-Martization 25min. (2005)

A new video by The Labor Video Project 25 min. (2005)

Wal-Mart is now the largest private employer in the United States and has the same impact that General Motors had nearly 50 years ago. This 26-minute video shows why working people and trade unionists are fighting back and what Wal-Mart has in store for the communities it is seeking to build stores in. "Fighting Wal-Martization" is a hard hitting documentary that looks at how the constant price cutting not only drives local small businesses out of the community but how this ends up driving down the living conditions of the very people who shop at Wal-Mart. The video also looks at the healthcare crisis and how Wal-Mart increases its profits by sending it¹s employees to public hospitals to get treatment thereby shifting costs back onto the taxpayer. This video can be used at union meetings, community meetings and on cable TV to get the message out about the Wal-Martization of America and what it means to every working person.

Please mail your check of $20.00 and order form to

Labor Video Project
P. O. Box 720027,
San Francisco, CA 94172

For more info: lvpsf@labornet.org, (415) 282-1908

Wal-Mart: The High Cost of Low Prices (www.walmartmovie.com)

Independent America: The Two Lane Search for Mom & Pop (www.independentamerica.net)

Big Box Mart (www.jibjab.com)

Garth Brooks Parody (www.walmartworkersrights.org)

"Is Wal-Mart Good for America?" Frontline, PBS Video, (www.pbs.org)
 

[back to top]

BOOKS

[back to top]

NON-FICTION

The Case Against Wal-Mart By Al Norman Raphel Marketing ruth@raphael.com

Wal-Mart: The Face Of Twenty-First Century Capitalism Edited By Nelson Lichtenstein The New Press www.thenewpress.com

The Great Risk Shift: The Assault on American Jobs, Families, Health Care and Retirement By Jacob S. Hacker Oxford University Press www.oup.com

War On The Middle Class: How the Government, Big Business, and Special Interest Groups Are Waging War on the American Dream and How to Fight Back By Lou Dobbs Viking, a member of Penguin Group www.penguin.com

Momentum: Igniting Social Change in the Connected Age By Allison H. Fine Jossey-Bass www.joseybass.com

Big-Box Swindle: The True Cost of Mega-Retailers and the Fight for America's Independent Businesses, By Stacy Mitchell, www.beacon.org www.newrules.org

Wal-Mart: The Face Of the Twenty-First-Century Capitalism, Edited by Nelson Lichtenstein, Published by The New Press www.thenewpress.com

 The Bully Of Bentonville - How the high cost of Wal-Mart's Everyday Low Prices is Hurting America, By Anthony Bianco, Published by Doubleday
Email: specialmarkets@randomhouse.com

 How Wal-Mart is Destroying America (and the world), By Bill Quinn, Published By Ten Speed Press, Box 7123, Berkeley, CA 94707, www.tenspeed.com (pp. 163)

Slam Dunking Wal-Mart, By Al Norman, Published By Raphel Marketing, 12 S. Virginia Avenue, Atlantic City, New Jersey 08410, www.sprawl-busters.com (pp. 237)

The Great American JobsScam, By Greg LeRoy, Published By Barrett-Koehler Publishers, Inc., 235 Montgomery Street, Suite 650, San Francisco, CA 94104-2916, www.bkconnection.com (pp. 257)

Nickel and Dimed, By Barbara Ehrenreich, Published By Henry Holt and Company, LLC, 115 West 18^th Street, New York, NY 10011, www.henryholt.com (pp.221)

United States of Wal-Mart, By John Dicker, Published By Jeremy P. Tarcher (Penguin Group usa), www.us.penguingroup.com (pp.257)

The Wal-Mart Effect, By Charles Fishman www.penguin.com

Megamall On The Hudson, By David Porter and Chester L. Mirsky www.trafford.com

FICTION

Death By Discount, By Mary Vermillion, Published By Alyson Publications, P.O. Box 4371, Los Angeles, CA 90078-4371, www.maryvermillion.com (pp. 275)