Word: marte
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...anti-war candidate had to deal with revelations that he owned up to $50,000 worth of stock in Halliburton, the services giant that has been at the center of controversy over its lucrative post-war contracts in Iraq. And now, only a day after he took Wal-Mart to task at a campaign stop in Bridgeport, a review of his personal financial disclosure forms has revealed that he owns between $2,000 and $30,000 worth of Wal-Mart stock in two managed accounts...
...response to questions from TIME Thursday, Lamont's campaign manager, Tom Swan, said the candidate was not actively controlling the investment. "He does not own any stock directly, it's not a direct holding," he said. Part of the Wal-Mart stock is held in a Goldman Sachs "Tax Advantaged Core Strategies managed account," according to a letter released Thursday by Swan. He said the account is designed to track the S&P 500 index, and that Goldman Sachs makes the investment decisions for the account...
...stores claim that the laws drive up the costs of doing business in the city, and ultimately deprive residents of services, low prices and jobs. There also is the race factor. In Chicago, like in many big cities, the most overlooked neighborhoods are often predominantly black. Wal-Mart has sought to score points and profits in the black community, but on its own terms - the company made a hard sell to black neighborhoods in Chicago and Los Angeles, where residents are desperate for big stores. Earlier this year, the company announced its ?Jobs and Opportunity Zone Initiative,? a campaign...
...Chicago, big-box retailers have been successful on a site-by-site basis. But the City Council vote - a 35-14 drubbing - takes the issue citywide. Furthermore, retailers like Target and Wal-Mart have to answer to their shareholders, who demand growth. ?The cities are really the last frontier for big-box retailers,? says Arindrajit Dube, a research economist at the University of California, Berkley. ?The only place they are growing is global, but the urban market is just too lucrative for them to ignore...
...short term, the ordinance will hurt the citizens who are most desperate for better choices of retail outlets. In Chicago, Wal-Mart said it would scale back its plans and focus on the inner-ring suburbs. That?s not exactly a plan for the future - it might instead be a game of economic chicken...