Sunday, October 07, 2007

Lee Scott Responds

I posted my letter to Lee Scott of WalMart here a few weeks ago.

To his credit - Mr. Scott responded through a regional VP. That VP called more than once (I was traveling and not too good at returning calls). He apologized about the condition of the store I reported, indicated their commitment to fixing it up and mentioned remodels at some other stores we discussed.

His attitude was certainly appropriate.

As a long time shareholder, I must admit that I was pleased at this response.

This week, The Wall St. Journal ran a lead page one article, basically stating that WalMart, despite being the world's largest retailer, was increasingly irrelevant. I think that may be a bit hasty. I'm certainly still not happy with the stock price, and believe the company is still too concerned with domestic store openings as opposed to capital spending to maintain and improve the base, but I wouldn't right them off just yet. There may still be some folks there with something to prove.

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