The NY Times on Sears Holdings
futureofcapitalism.com

The New York Times, in its business section, has a pretty egregious dispatch about Sears Holdings. A sample paragraph:

Five years after the merger, Sears Holdings is beleaguered, with sales markedly worse than its competitors'. The company's revenue dropped more than 10 percent from 2005 through 2009, the most recent full fiscal year. In the same time period, Wal-Mart's sales rose almost 31 percent, Target's more than 24 percent and Macy's about 5 percent. Sales at J. C. Penney's declined by about 6 percent.

Read More...

Corporate Governance
smartertimes.com

The business section of today's New York Times carries an article by reporter Stephanie Clifford under the headline: "More Dissent Is in Store Over Wal-Mart Scandal." The Times reports:

Some investors also objected to the heavy presence of insider directors on the board: two Waltons, one Walton son-in-law, the chief executive and a former ex-chief executive. After the 2013 meeting, when three independent directors will step down, about 65 percent of the board will be independent.

My goodness, two Waltons and one Walton son-in-law on a 17-member board!

From the New York Times Company's own corporate governance statement:

Read More...

Corporate Governance
smartertimes.com

The business section of today's New York Times carries an article by reporter Stephanie Clifford under the headline: "More Dissent Is in Store Over Wal-Mart Scandal." The Times reports:

Some investors also objected to the heavy presence of insider directors on the board: two Waltons, one Walton son-in-law, the chief executive and a former ex-chief executive. After the 2013 meeting, when three independent directors will step down, about 65 percent of the board will be independent.

My goodness, two Waltons and one Walton son-in-law on a 17-member board!

From the New York Times Company's own corporate governance statement:

Read More...

The Market and 'Food Deserts'
futureofcapitalism.com

While Treasury Secretary Geithner is touting tax credits as a solution to the supposed problem of "food deserts," the free market is meeting the need on its own, the New York Times reports:

retailers better known for selling clothes or aspirin, including Walgreens, CVS/Pharmacy and Target, are expanding in a big way into the grocery business, with fresh produce, frozen meats and, yes, even sushi

Read More...

The NY Times on Sears Holdings
futureofcapitalism.com

The New York Times, in its business section, has a pretty egregious dispatch about Sears Holdings. A sample paragraph:

Five years after the merger, Sears Holdings is beleaguered, with sales markedly worse than its competitors'. The company's revenue dropped more than 10 percent from 2005 through 2009, the most recent full fiscal year. In the same time period, Wal-Mart's sales rose almost 31 percent, Target's more than 24 percent and Macy's about 5 percent. Sales at J. C. Penney's declined by about 6 percent.

Read More...

The Market and 'Food Deserts'
futureofcapitalism.com

While Treasury Secretary Geithner is touting tax credits as a solution to the supposed problem of "food deserts," the free market is meeting the need on its own, the New York Times reports:

retailers better known for selling clothes or aspirin, including Walgreens, CVS/Pharmacy and Target, are expanding in a big way into the grocery business, with fresh produce, frozen meats and, yes, even sushi

Read More...