Wal-Mart Is A Big Baby

Wall-Mart

Have you ever wondered what could frustrate Wal-Mart more than having their own South Park episode…the answer - New York City. This excerpt is from the New York Times:

Frustrated by a bruising, and so far unsuccessful battle to open its first discount store in the nation’s largest city, Wal-Mart’s chief executive said yesterday, “I don’t care if we are ever here.” H. Lee Scott Jr., the chief executive of the nation’s largest retailer, said that trying to conduct business in New York was so expensive— and exasperating —that “I don’t think it’s worth the effort.”

Speaking about what he sees as snobbish elites in New York and across the country, Mr. Scott added, “You have people who are just better than us and don’t want a Wal-Mart in their community.”

People in New York City may seem snobby to Wal-Mart CEO H. Lee Scott, Jr. but they still have buying power, which now will go to the Wal-Mart competition.

Wal-Mart Chief Writes Off New York [New York Times]



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This entry was posted on Tuesday, April 3rd, 2007 and is filed under Business, Investing.

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