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How the Wal-Mart heirs got their wealth

All men and women are not created equal. Some are lucky enough to be born very, very wealthy. And they just get wealthier with the passage of time. Last month, economist Paul Krugman spoke with Bill Moyers about the US’s growing inherited wealth problem……

Wal-Mart uses ‘cultlike’ student group to funnel managers into patriarchal corporate culture

A “cultlike” business group funnels college students into Wal-Mart’s management ranks and helps the retail giant maintain its conservative, patriarchal culture, according to a former insider who recounted his experience in a new memoir. Curtis DeBerg, an accounting professor at California State University-Chico, said Students In Free Enterprise — now…

Wal-Mart suffers lowered profits due to food stamp cuts in the federal budget

By Phil Wahba (Reuters) – Wal-Mart Stores Inc forecast a lower full-year profit than analysts expect, as fewer food stamps, higher taxes and tighter credit erode its sales, news that sent its shares down 1 percent in premarket trading on Thursday. The world’s largest retailer expects net sales growth this…

Iowa man’s gun accidentally fires from pants pocket at Wal-Mart but he finishes shopping

Police said an Iowa man was arrested after his concealed weapon accidentally fired while he was shopping at Wal-Mart. Officers said Christopher William Strube, of Centerville, was shopping Sunday afternoon when the .45-caliber handgun fired from his pants pocket. Investigators said the 50-year-old Strube told them a bottle he was…

Wal-Mart worker says he was fired for helping woman fight off attacker

A Wal-Mart clerk from Michigan says he was fired after helping a woman who was being assaulted in the store parking lot. Kristopher Oswald said he took a lunch break from an overnight shift stocking pet food about 2:30 a.m. Sunday when he heard a woman screaming. The 30-year-old Oswald…

2013 already the year Wal-Mart would like to forget

Are Wal-Mart’s shoppers disappearing? (via The Christian Science Monitor) The Wal-Mart logo is displayed in Springfield, Ill. Wal-Mart shares dropped Thursday on news that the world’s largest retailer was cutting its orders to suppliers in the face of rising store inventory.(Seth Perlman/AP/File) From worker protests to missed…   ;  …

U.S. judge denies class action lawsuit by women suing Wal-Mart

By Casey Sullivan and Dan Levine (Reuters) – In another setback for women suing Wal-Mart, a U.S. judge in San Francisco on Friday rejected an attempt to bring reformulated sex discrimination claims against the company as a class action. U.S. District Judge Charles Breyer denied a motion for class certification…

Dutch pension group halts Wal-Mart investments over low wages and working conditions

(Reuters) – Dutch pension administrator PGGM Vermogensbeheer B.V. said on Monday it would no longer invest in Wal-Mart Stores Inc , saying the retailer was not willing to discuss its concerns, including possible labor issues in the United States. Wal-Mart, the world’s largest retailer, declined to comment. Wal-Mart “was not…

Walmart fined $110 million for dumping toxic chemicals in California

Wal-Mart was hit with $110 million in US federal and state fines Tuesday after pleading guilty to criminal charges of mishandling hazardous waste and pesticides at its retail stores. The world’s largest retailer was fined for dumping hazardous chemicals in city trash bins and sewer systems in cases filed by…

Wal-Mart worried payroll tax could cut consumer spending

Why is Wal-Mart worried? Payroll tax could cut consumer spending. Retailers are preparing for a triple whammy as the restoration of the payroll tax, surging gas prices, and stagnant employment and wages take a bite out of consumers’ disposable income, leaving them with less cash to spend on clothing, groceries,…

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