From the Wall Street Journal:
Excellent piece from Ben Heineman Jr., a Senior Fellow of the Program on Corporate Governance at Harvard Law School, on Walmart’s Global Compliance Report and the state of the company’s FCPA investigations. An excerpt:
Walmart shareholders haven’t had a great year. Despite a hot market, Walmart stock has been flat and FY 2014 sales were up just 1.6%. But don’t worry: The flat stock performance didn’t hurt pay for Walmart’s top executives! As Gretchen Morgenson of the New York Times wrote this weekend, “when it comes to figuring the performance of top executives, let’s just say the numbers can be made to fib.”
KC’s View: Cheesewright is going to have a full plate, especially if the bribery scandal comes back to bite the company on its posterior.
More takeaways from last week’s analyst shindig:
Last Tuesday, Walmart brought Wall Street analysts down to Arkansas to get them up bright and early and show them PowerPoint presentations for hours (aka the “20th Annual Meeting for the Investment Community.”) Our invitation must have been lost in the mail, but we’ve sifted through the transcripts, news reports, and PR spin, and have some takeaways of our own. Here’s the first set:
Remember a couple months ago when Forbes contributor and retail industry veteran Walter Loeb visited a Massachusetts Walmart store and found it to be in “total disarray”?