In the News

Letter from India: The Wal-Mart debate

Reuters
03/20/2006

Reuters correspondent Emily Kaiser is in Asia, reporting on U.S. retailers operating in the region. Here are her impressions on the prospects for big retailers in India:

Sitting in a Mumbai taxi as the driver angrily honks at an endless stream of trucks, buses, cars, pushcarts, pedestrians and cows, it's hard to imagine how foreign retailers could operate here. Then you hear about customers causing traffic jams as they flock to clearance sales and it becomes obvious why Wal-Mart and others are fighting so hard to open stores in India.

Wal-Mart's Hired Advocate Takes Flak

USA Today
03/16/2006

By Larry Copeland

ATLANTA — Andrew Young, who's never been shy about staking out controversial positions, is at it again.

Young, one of the Rev. Martin Luther King Jr.'s top aides, a former United Nations ambassador and former mayor of Atlanta, announced last month that he would head a group formed to spread the word about the positive contributions of Wal-Mart Stores (WMT).

Young says he was drawn to the Wal-Mart venture because the company is creating wealth, especially in rural and inner-city communities shunned by other retailers.

Wal-Mart's hired advocate takes flak

USA Today
03/16/2006

By Larry Copeland

ATLANTA — Andrew Young, who's never been shy about staking out controversial positions, is at it again.

Young, one of the Rev. Martin Luther King Jr.'s top aides, a former United Nations ambassador and former mayor of Atlanta, announced last month that he would head a group formed to spread the word about the positive contributions of Wal-Mart Stores (WMT).

Young says he was drawn to the Wal-Mart venture because the company is creating wealth, especially in rural and inner-city communities shunned by other retailers.

Wal-Mart Ups Central American Investment

Associated Press
03/15/2006

BENTONVILLE, Ark. (AP) - Wal-Mart Stores Inc. said Tuesday it boosted its stake in Central American Retail Holding Co., or CARHCO, lifting its ownership of Central America's biggest supermarket retailer to 51 percent from a previous 33.3 percent.

Financial terms of the latest agreement as well as the original investment were not disclosed.

Wal-Mart also said it would replace the name CARHCO with Wal-Mart Central America. No immediate changes were planned in names of any of the store formats operating in the region, it added.

Wal-Mart Ups Central American Investment

Associated Press
03/15/2006

BENTONVILLE, Ark. (AP) - Wal-Mart Stores Inc. said Tuesday it boosted its stake in Central American Retail Holding Co., or CARHCO, lifting its ownership of Central America's biggest supermarket retailer to 51 percent from a previous 33.3 percent.

Financial terms of the latest agreement as well as the original investment were not disclosed.

Wal-Mart also said it would replace the name CARHCO with Wal-Mart Central America. No immediate changes were planned in names of any of the store formats operating in the region, it added.

Kingmaker to close plants after losing Timberland deal; Shoe-making jobs in China and Vietnam axed following EU anti-dumping dut

South China Morning Post
03/14/2006

By Toh Han Shih

Thousands of jobs in the shoe industry in China and Vietnam are being axed as European Union anti-dumping measures expected this month begin to bite.

Kingmaker Footwear Holdings would slash its workforce in China and Vietnam to about 12,000 this year from a peak of 20,000 last year, executive director Daniel Chan Ho-man said yesterday.

Most of the job cuts would be in China, where Kingmaker would close two factories, Mr Chan said.

Pages