Monday, August 20, 2007

Wal-Mart's changes to Wikipedia entries exposed

A new tool has exposed a number of well-known corporations that deleted negative aspects of their Wikipedia entries--removing one of the main things that distinguishes Wikipedia from their own corporate websites, its balance. Wal-Mart has continually changed what their pay rate is listed on wiki to a much higher rate. Please check out the entire article here

Thursday, August 16, 2007

Wal-Mart Cuts Profit outlook

Slowing down...

NEW YORK (AP) - Wal-Mart Stores Inc. reported a 49 percent increase in second-quarter profits, but the world's largest retailer cut its profit outlook amid weak economic conditions that are crimping consumer spending globally.
The Bentonville, Ark.-based discounter reported a net income of $3.10 billion, or 76 cents per share, for the three months ended July 31. That compared with $2.08 billion, or 50 cents per share in the year-ago period.The quarter included three items that provided a net benefit of $171 million after tax, or 4 cents per share. Accruals for general liability and workers' compensation claims were reduced by $196 million after tax. The company also recognized $41 million in after tax gains from the sale of real estate. These benefits were offset by charges of $66 million after tax for legal and other contingencies.Analysts polled by Thomson Financial expected 76 cents per share.Wal-Mart reported revenue of $93.01 billion, up from $85.43 billion in the year-ago period. Analysts had expected $92.68 billion in the quarter.The company said that for the full year, earnings per share from continuing operations is now estimated to be between $3.05 per share and $3.13 per share. The company's initial forecast was in the range of $3.15 per share and $3.23 per share.'Our underlying operating performance this quarter is not what we expect of ourselves, and not what our shareholders expect of us,' said Lee Scott, Wal-Mart president and chief executive officer. 'For the remainder of this year, our management team is focused on inventory improvements, delivering quality products at low prices, and store execution at the highest standards.'Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Friday, August 10, 2007

New Jersey fights back

  • ShopRite, Wal-Mart to face off again [Vineland (N.J.) Daily Journal]
    Pat Bottino Sr. knows what it's like to take on Wal-Mart in the grocery business. Now, he has to do it again. Bottino's family owns a ShopRite in Washington Township, where two years ago Wal-Mart opened a Supercenter selling a full line of groceries. Next year, Wal-Mart plans to open a Supercenter in Vineland on West Landis Avenue near Delsea Drive.

  • Lawmaker questions the cost of Wal-Mart [Vineland (N.J.) Daily Journal]
    State Assemblyman Nelson Albano welcomes commercial growth and new jobs in his legislative district. But he doesn't want a Wal-Mart Supercenter in his city. In 2004, when the company first proposed building a Supercenter on West Landis Avenue near Delsea Drive, Albano was among dozens of union employees who spoke out against the project at city meetings

Protest Wal-Mart’s Wholesale Entry

Indians Protest Wal-Mart’s Wholesale Entry [New York Times]
Wal-Mart, in a struggle to expand its global reach, is trying to enter India through the back door, but many consumers here have taken notice.

Monday, August 06, 2007

Wal-Mart Top Stories

Wednesday, August 01, 2007

Wal-Mart sued over accounting practices [Arkansas Democrat Gazette]

Wal-Mart sued over accounting practices [Arkansas Democrat Gazette]
A California trampoline vendor is suing Wal-Mart Stores Inc., claiming the retail giant secretly withdrew more than $ 400, 000 from the supplier’s account as part of a fraudulent accounting practice, according to a complaint filed in federal court on Tuesday.