So, we’ve written hundreds of posts about the Walton family, their peers and their hirelings, but we’ve never focused on the people the way the folks at The Walmart 1%, The People Behind The Walmart Empire. Who, sadly, were these bloggers? The Walmart 1% was a project of Making Change At Walmart, (who took notice […]
Archive for the 'Lee Scott' Category
Sigh. I was prepared to write one of my rare positive pieces about affairs de Walmart when I read the headline: Scott Family Amazeum in Bentonville slated to open July 15. The family featured here is that of Walmart’s third (2000-2008) CEO, Lee Scott. I wasn’t going to begrudge Scott a bit of retirement sunshine […]
If you’re one of Walmart’s top five officers, the good news is that in fiscal year 2009 together you took in $65 million. The bad news is that if you happened to be Michael Duke you took a huge pay cut over the previous year, taking home a measley $19.2 million. From 24/7 Wall Street: […]
Apparently, John Mackey of Whole Foods wants to be everywhere these days. This is from an interview w/ Reason magazine: By not taking any money, it’s pretty obvious that I’m not trying to get as much money out of the company as I can. I mean, I was a co-founder. I have enough money. I’m […]
There’s no clue what he wanted $13 million for and, quite frankly, it’s none of my business, but when the former CEO of Walmart decides to cash in 244,414 shares of his company stock at $53.31 each (those are some odd numbers), it does make me go hmmm. Jeff Hess: Have Coffee Will Write.
Q. Can lower level Walmart workers ever expect to retire? A. New York Times, 2/17/06: In his response to the store manager who asked about retiree health benefits, Mr. Scott wrote: “Quite honestly, this environment isn’t for everyone. There are people who would say, ‘I’m sorry, but you should take the risk and take billions […]
Walmart would be a lot better off if Lee Scott simply shut up now.
How does it feel to make $29.7 million in a single year and know that you came in second place to your competitor who earned $36.4 million? Does $6.7 million really make any difference when you’re living in this rarefied atmosphere? How do the people who paid those salaries, the shoppers at Walmart and Target […]
KFSM TV gets former Walmart CEO on tape and tosses a couple of softballs. Doesn’t anyone in broadcasting (or print for that matter) know how to ask a substantive question anymore? Ask the question succinctly, shut up and let the man talk. Jeff Hess: Have Coffee Will Write.
Apparently NY Times reporter Michael Barbaro has decide to return to his old Walmart beat to allow Lee Scott to pull the wool over his eyes one more time. The way Walmart does this is by putting out the same bogus statistics it always offers when it wants to show how well it treats its […]
As CEO, Scott said his biggest regret was taking too long to understand and learn to compromise with critics. As Wal-Mart expanded into groceries in the 1990s, it “drew the attention of the labor bosses,” Scott said. “And so the harder they pushed at us, the more we pushed back. And in that process, we […]
From B-Net: Speaking at the National Retail Federation convention in New York today, Lee Scott, outgoing Wal-Mart ceo, said the current recession is fundamentally changing consumers in the United States. Scott said younger consumers particularly are becoming more focused in their spending, less anxious to use credit and increasingly interested in protecting money. While many […]
From Reuters: Scott, who will retire in early 2009, also said he sees a role for Wal-Mart in the debate around issues such as the environment and health care, which he has previously said “profoundly” affect the chain’s shoppers and business. Wal-Mart has “reached out” to President-elect Obama’s team to work on the U.S. health […]
For most people, losing $300,000/year would be a terrible burden. Lee Scott, however, can still spend the next two years counting out his haul. Apparently, he has nothing better to do. From footnoted.org: While we don’t profess to know Wal-Mart all that intimately, we were surprised by Scott’s agreement in the 8K that the company […]
Pushed, jumped or is just taking his millions of marbles and going home? Wal-Mart’s new chief has company pedigree The world’s largest retailer said Friday that it tapped Michael Duke, vice chairman and head of Wal-Mart International, as CEO and named him to the board. Duke will replace Lee Scott, who has served as president […]