Word: marteli
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Dates: during 1980-1989
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Suddenly, the U.S. seems to have become a country for sale, a huge shopping mart in which foreigners are energetically filling up their carts. Result: foreign ownership in the U.S., including everything from real estate to securities, rose to a remarkable $1.33 trillion in 1986, up 25% from the previous year. By contrast, in a complete reversal of the situation only a decade ago, U.S. holdings abroad now total only $1.07 trillion. In addition to spurring fabulous hikes in real estate values and igniting corporate takeovers, the wave of foreign purchases has become an important force behind Wall Street...
Though Walton has achieved folk-hero status in small-town America, his company has its critics. The country's 100,000 independent manufacturer's representatives are currently incensed at Wal-Mart, claiming that the chain is trying to run them out of business by dealing directly with its suppliers. Meanwhile, Mom-and-pop-store owners contend that Wal-Mart's cut-rate prices have helped wipe out Main Street shopping. In the past, Wal-Mart's conservative management has drawn some flak for being too slow to promote women, which the company says is untrue, and for being too quick...
...that just highlights the paradox of Wal-Mart. For all its lingering Bible Belt ways, the company is in most other respects forward thinking. When it comes to technology, Wal-Mart leads the industry. The company is now installing a satellite communications system that will enable a constant stream of sales and inventory data to flow between each store and headquarters. Such information is quickly relayed to ten giant warehouses, which keep the stores well stocked at all times. Every Wal-Mart is within a day's drive of one of these storage depots...
...largest question looming over Wal-Mart is what will happen to the company when Mr. Sam is no longer in charge. The founder, who has a mild form of leukemia, which is now in remission, has gradually turned over day-to-day control to Glass, 51, and Shewmaker, 49, one of whom is likely to become the next chief executive. The titular position of chairman may go to the founder's eldest son, S. Robson Walton, 42, who is at present one of the company's vice chairmen. But Mr. Sam shows no signs of giving up his trademark store...
...Mart' s Sam Walton turns bargains into billions. -- The troubled temples ^ of thrift. -- Tension over smoking...