Walmart CEO Mike Duke was named to Forbes’ Most Powerful list this month. He came in at #17, and those placing ahead of him were mostly heads of state; the Pope; Bill Gates; and the mayor of a city with no Walmarts, Michael Bloomberg.
TIME magazine is doing a sorta-kinda vote on who should be the magazine’s 2012 Person of the Year (you can vote, but TIME editors will make the final call), and Walmart director Marissa Mayer is one of the nominees. Mayer certainly has had a heck of a year in 2012—she joined the board of Walmart (her first corporate board), she became the youngest CEO of a Fortune 500 company (and the first to start the job while pregnant), and she had her first child. But does she deserve to be Person of the Year? We think maybe 2013 might be her year instead—that is, if she takes advantage of a huge opportunity that is dangling right in front of her.
This week, Walmart associates in a dozen cities across the country risked several days’ pay to go on strike following the company’s retaliation and attempts to silence their voices.
Following the release of this year’s Forbes 400, Josh Harkinson at Mother Jones has a great piece up today putting the Waltons’ wealth in perspective.
According to a new report from the Institute for Policy Studies (IPS), Walmart CEO Mike Duke took advantage of a tax loophole that saved him almost $6 million in 2011 federal income taxes.
This week, contracted warehouse workers at warehouses that supply Walmart stores in California will complete a 50-mile, 6-day pilgrimage across Southern California. The pilgrimage is designed to bring increased attention to the poor working conditions for these workers. Chief among their concerns are the dangerous working conditions they face on a daily basis.
Here’s a video from two Walmart associates who are fighting for change and respect at their company. For more stories from Walmart associates, check out Walmart at 50.
The Pew Research Center recently came out with a report confirming a fact the Occupy movement brought to the fore, and it bears repeating: the American middle class is shrinking.
Walton Family now richer than nearly 50 million American families combined
Walmart’s stock has been trading near record highs over the past few weeks, which got us thinking about the Waltons’ wealth. Sam Walton’s three living children—Alice, Jim, and Rob—own or control over half of the company’s shares. They, along with their sister-in-law Christy Walton and cousins Ann Walton Kroenke and Nancy Walton Laurie, regularly make appearances on the Forbes 400. Walmart is the source of much of their wealth—when Walmart’s stock price soars, so does the family’s wealth.