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Shareholders’ Meeting Round Up
Echoing themes presented at the Wal-Mart media day in April, executives told assembled shareholders and employees during the annual shareholders’ meeting that the company plans to focus on “changing” and getting “out in front”. Between musical numbers and performances by “American Idol” winner Taylor Hicks and Beyoncé, senior officers again and again emphasized changing the way Wal-Mart operates, but made little mention of how those changes will benefit Wal-Mart employees.
The idea of “staying out in front” – that is, being ahead of trends and inventory stocks rather than reacting to them – played a big part of the meeting. Being out in front and changing with the times, said executives, were major tenets of Sam Walton’s business philosophy – one that the company is trying to recreate.
“Nobody loved change more than Sam Walton,” Rob Walton said. “As long as we continue to change, there are no limits to what we can achieve.”
“[Founder] Sam Walton said you can’t just keep doing what works one time,” said Lee Scott, president and chief executive officer. “Everything is changing...and we have to stay in front to succeed.”
Executives also made sure to stress the company’s recent environmental commitments. Said Lee Scott, “…let me just say that sustainability – and being environmentally friendly – is not a one-time program. Sustainability is becoming an integral – and will always be a lasting part – of the Wal-Mart culture.”
More important on the shareholder agenda, however, was an outline for Wal-Mart’s new marketing strategies as it seeks to attract a different kind of customer. Not only does the company hope to lure in more affluent shoppers, it’s also trying to get current shoppers to “cross the aisle” and buy items other than groceries and household goods. One lyric from the pre-meeting musical performance is especially emblematic:
“They stop to buy a Milky Way, discover we have Chardonnay.”
Posted by Laura Jack on Monday, June 05, 2006
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COMMENTS
At the Wal-Mart shareholders meeting, the company said that the associates “were all stars”.
My question is does Wal-Mart pay them like “Stars”?
Any thoughts?
JM in USA
Monday, June 05 at 04:37 PM
No they pay them like low level minor leaguers. To be honest these yearly extravaganzas are about as hokey as it gets. Vapid feel good displays passed off as entertainment.
larry in elmira, n.y.
Tuesday, June 06 at 01:09 AM
CHICKS IN SHOPPING CARTS!
Is Wal-Mart selling those now?
Yeah...I’m sure the wine aficionados will all be rushing to their nearest Wal-Mart now that they know Wal-Mart has Chardonnay.
Larry:
“To be honest these yearly extravaganzas are about as hokey as it gets.”
Why would you have higher expectations, Larry? These “extravaganzas” are brought to you by the same company that showcases its idiotic Wal-Mart company cheer, like it was something REALLY special!
ScrewedbyWal-Mart in Anytown, USA
Tuesday, June 06 at 06:22 AM
The entertainment is from those who don’t want to piss off their biggest retail agent for selling their cds/dvds.
It sounds like the WM shareholder meeting was a pep rally and little substance. Did Lee stand up their and give his evangelistic style speach about controling costs (while he costs the company millions)?
It’s becoming cool to not shop Wal-Mart.
JM in USA
Tuesday, June 06 at 06:25 AM
Why does Wal-Mart humiliate their workers with that silly blue smock also? I guess it makes the suits feel superior when they walk into the stores and see this humiliating spectacle.
JM in USA
Tuesday, June 06 at 06:32 AM
Stop complaining and get an education so you don’t have to work at Walmart if you don’t like it. No one forces you to work there. These are unskilled jobs you aren’t supposed to stay in for life. My immigrant parents figured that one out.
Joe Rodriguez in Detroit, MI
Tuesday, June 06 at 09:24 AM
The usual WM BS. A mutual fund in Norway has sold out it’s position in Wal Mart stock due to WM’s record of employee rights abuses. I found the article under Yahoo’s News tab after typing Wal Mart in the Search box. I’d like to hear Lee Scott’s reaction to that.
Wage Slave in USA
Tuesday, June 06 at 10:46 AM
Joe sounds like a carbon copy of the regular clowns that are on here defending Wal-Mart. Wonder what his usual online name is?
JM in USA
Tuesday, June 06 at 09:29 PM
“I’d like to hear Lee Scott’s reaction to that.”
Wal-Mart had no reaction, WS.
“The council and Norway’s central bank wrote to Wal-Mart last fall, asking them to comment on the allegations of violations of human rights. The Norwegian Finance Ministry said Wal-Mart never responded.”
“My immigrant parents figured that one out. “ You better be careful, Joe, Bush will send your parents back to whereever they came from. No amnesty! lol
Ken V in
Wednesday, June 07 at 03:43 AM
["I’d like to hear Lee Scott’s reaction to that.”
Wal-Mart had no reaction, WS.]
Ken V. - Wage Slave had wondered only about Scott’s reaction, not WM’s. I didn’t realize Lee Scott had changed his name to Wal Mart, or maybe you just wanted to show that you don’t read posts correctly?
KV in UT
Wednesday, June 07 at 10:02 AM
The important fact to note is that neither Wal-Mart or Lee felt comfortable defending the companies record.
JM in USA
Wednesday, June 07 at 02:53 PM
OUCH! I hurt my back in the shopping cart! Andy, Andy, unionize me so I don’t have to do stunts like this again. Can I put this appearance on my resume?
Poor Girl trying to earn a buck in shareholders meeting in Arkansas
Thursday, June 08 at 08:43 AM
Hey poor girl. (She must not be related to the Waltons)
You know the Wal-Mart rules.
Either bring in the carts from outside during your cashier shift or get in one and make an ass of yourself at the shareholders concert/pep rally/ shareholders meeting.
JM in USA
Thursday, June 08 at 03:49 PM
Those shopping carts are not meant to be used that way! It says so on the top part where you put your kids! Tilting a cart like this makes the wheels squeak!
Concerned Shopping Cart Manufacturer in formely U.S., now built meticulously in China
Friday, June 09 at 11:31 AM
WHAT HE SHOULD HAVE SAID...
“Rob Walton said. “As long as we continue to change, there are no limits to what we can achieve.”
In reality, Rob Walton should have said, “As long as we continue to pay off politicians, there are no limits to what we can achieve.”
This is the short list:
Graham Lindsey Graham for Senate $ 5000
Wal-Mart Stores, Inc. PAC
Grassley Grassley Cmte $ 5000
Wal-Mart Stores, Inc. PAC
Inhofe Friends of Jim Inhofe Cmte. $ 5000
Arvest Bank Group, Inc. PAC
Santorum Santorum 2006 $ 5000
Wal-Mart Stores, Inc. PAC
Santorum Santorum 2006 $ 5000
Arvest Bank Group, Inc. PAC
Thune John Thune for South Dakota $ 5000
Wal-Mart Stores, Inc. PAC
ScrewedbyWal-Mart in Anytown, USA
Friday, June 09 at 09:10 PM
Hey Screwed—don’t think it would be wise to start counting payoffs to politicians. We should stay away from that argument. Where do you think all of our union dues go—charity? Ha, ha, ha, ha.
Jimmy Hoffa in new jersey
Friday, June 09 at 09:27 PM
WHERE ARE YOU WHEN WE NEED YOU “JIMMY?”
Long time...no see, “Jimmy.”
ScrewedbyWal-Mart in Anytown, USA
Saturday, June 10 at 08:09 AM
Hey Jimmy.
At least with a union you can have enough money for dues to do payoffs.
With cheap retailers, they just keep your wage super low and use your money for their payoffs to their favorite government representatives.
JM in USA
Saturday, June 10 at 01:37 PM
I guess being a “star” means being a totally disposable worthless tool or machine instead of being treated like a human being. As far as the Wal-Mart cheer goes, I refuse to do that s--t on mere principal alone. I’m not in there to act like a clown and I’m not excited or enthusiastic about being there, I look at it like jail - go in, do your time, and get it over with.
Joe, some people have limited options and some people, in all honesty, can only do jobs like this. Also, some people, not a lot, but some people actually enjoy working in retail, and that’s their choice and their right. The fact that it’s retail, or anything else for that matter, does not make it okay to treat people like crap. Those who are able to do something better usually do. Man, some people really have a warped set of values and think that when they defecate it smells like perfume.
Generic Wal-Mart Wageslave in Michigan
Saturday, June 10 at 09:24 PM
Generic
I find it interesting that business today comes out with all this talk about being their workers being “stars”, yet when the rubber meets the road (pay and benefits) and has an opportunity to show the employee’s worth, they talk business model.
Everything is so calculated these days.
JM in USA
Sunday, June 11 at 06:32 PM
Yup, actions definitely speak louder than words. You can be an “associate” or a “team member” or whatever cute title that the company comes up with, but at the end of the day, what are you really?
Generic Wal-Mart Wageslave in Michigan
Monday, June 12 at 09:04 AM
Hi Generic
At the end of the day you are nothing but a cost to the business. One thing for sure. Being called an “associate” or “team member” costs the company nothing. Nor does the childish Wal-Mart cheer that humiliates the staff during the start of their day.
JM in USA
Monday, June 12 at 04:19 PM
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