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...Mart's centralization of power at its headquarters in Bentonville, Ark., could produce agitation among the managers of its stores, who have traditionally been granted considerable independence in stocking what locals want. And consumers get bored by one-size-fits-all merchandise. Says Ira Kalish, an analyst for consultancy Retail Forward, in a mostly bullish report on Wal-Mart: "Excessive size could breed bureaucracy as well as failures in the areas of merchandising and customer relations...
...think Wal-Mart already sells just about everything, think again. Think PCs, ceiling fans, more fashionable clothing, gasoline and even cars. "Their goal is to have a 30% share of every major business they are in," says Linda Kristiansen, a retail analyst for UBS Warburg Equity Research. If there's no Wal-Mart store near you, just wait. If you shop at Wal-Mart, expect your store to get bigger or a new store to open even closer. The chain plans to expand from 3,400 U.S. locations today--half of them in the South--to a nationwide network approaching...
...customers, many of whom don't have a bank account. It wants to be in any category where it can lower prices. "Their goal is to have a 30% share of every major business they are in and they are pretty serious about it," says Linda Kristiansen, a retail analyst for UBS Warburg Equity Research. They are also serious about global expansion. Wal-Mart wants to be in the world's top 20 national markets, which account for 60% of all retail activity. "I'm not trying to be flippant," adds Lee Scott, 52, Wal-Mart's third...
...within three months. The enigmatic populist can then officially take over from his close ally Abdullah Gul, who took the job until the legal problems could be sorted out. The changes should do away with the anomaly of a leader who "clearly holds power" but no accountability, says analyst Ismet Berkan in Istanbul. "It will be a huge step to normalizing the political setup." - By Andrew Purvis THE CHANNEL Shipwreck Ahoy! Landlubbers and sea dogs alike could only shake their heads at the New Year's Day news that the tanker Vicky had collided with the submerged wreck...
...drugs in the pipeline have fallen off dramatically, even though companies are getting bigger. In 1987 the U.S. Food and Drug Administration had 60 new drug applications; in 2000 it had just 30. "The bottom line is that it's really hard to do," says Ross Williamson, an analyst at Cap Gemini Ernst & Young. "The FDA [has] very onerous demands for trials." So does Europe. Last month, the European Parliament summoned Thomas Lönngren, executive director of the European Agency for Evaluation of Medical Products (emea), to ask why so few new drugs were being produced. The emea...