Word: marts
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Dates: during 2000-2009
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...Mizuho Holdings?to extend additional credit at crucial moments in order to keep it alive. UFJ is urging Daiei's management to accept assistance from the Industrial Revitalization Corporation of Japan (IRCJ), a state-backed bank designed to overhaul Japan's most hapless companies. Meanwhile, U.S. retailing juggernaut Wal-Mart, which already owns 38% of Japanese retailer Seiyu and is looking for a greater presence in the country, has met with the IRCJ and confirmed that it is interested in taking a stake in Daiei...
...Daiei's owners, who face an early-September deadline for settling on a restructuring plan with the company's three lenders, are fighting to retain control by vigorously opposing both the IRCJ's and Wal-Mart's intervention. But with blood in the water, Japanese retailers Ito-Yokado and Aeon have expressed an interest in Daiei, too, leading analysts to predict that there could also be a takeover battle brewing in the retailing sector...
...quieter, charging that grocery chains are retaliating by canceling orders. "The markup is so outrageous, they don't want anyone messing with it," says a tomato grower. Luis Rodriguez, a consultant for Florida Farmers Inc., an advocacy group, says he listened in on a conversation in which a Wal-Mart official told a supplier that he planned to stop buying from farmers promoting mandatory labeling. Says Rodriguez: "These guys are scared." A Wal-Mart representative denied any intimidation...
...Mart's Gender Gap" [JULY 5] Addressed the sex-discrimination lawsuit brought against the giant retailer by female employees. But the company mistreats all workers. As your story noted, there are more than 30 lawsuits that accuse Wal-Mart of cheating employees out of overtime pay. The company has fought to keep out labor unions, and pays hourly workers a very low wage. Your report overemphasized the retailer's discrimination against women, suggesting that paying women less than men is more serious than paying poverty-level wages for all hourly employees. That attitude could be considered a kind of gender...
...once it's in foreign hands. Indeed, many Abbey shareholders are pension funds and asset managers who, to maintain investment objectives, will have to sell if the bank becomes non-U.K. owned. Luqman Arnold, Abbey's chief executive, said he thought the deal would be similar to Wal-Mart's 1999 acquisition of British supermarket chain ASDA, which retains its own name and identity. Whether the deal succeeds or not, Europe's banks remain ripe for more mergers. James Hamilton, an analyst at WestLB Equity Markets, says Germany may be next: "If you look at Germany, which...