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...Wal-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...
...bank 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...
Tate & Lyle is on a sugar rush. After just four years in stores, the British firm's no-calorie sweetener sucralose (brand name Splenda) accounts for 43% of U.S. retail sugar-substitute sales (excluding Wal-Mart). That beats Equal and Sweet'n Low, according to market researcher Information Resources. In a deal with Tate, McNeil Nutritionals, a Johnson & Johnson division, is rolling out a sugar-Splenda blend for baking in August. Splenda, already used in thousands of manufactured foods (one appeal: it withstands heat better than alternatives do), is also going into new mid-calorie sodas from Coca-Cola...
...this week in San Francisco as a nurse. She's planning a long-delayed visit to the dentist and the purchase of a new set of tires. But with $40,000 in student loans, "I'm not going to go out and buy a flat-screen TV," she says. Wal-Mart and Target both reported declines in sales growth in June. A drop in consumer spending, which accounts for two-thirds of the economy, could slow the recovery. "We're watching that very carefully," says Duncan Meldrum, president of the National Association for Business Economics. "I'm hoping this...
Quinceanera festivities, which have roots in Aztec and Catholic traditions, have been around Latin America for centuries, but as the number of Latinos in the U.S. has grown (there are currently more than 35 million), such celebrations have become more commercial and more mainstream. Wal-Mart now stocks budget quinceanera gowns in 200 stores in 30 states, and the David's Bridal chain has dresses made exclusively for the market. Royal Caribbean offers seven-day quinceanera cruises out of Miami (at $850 to $1,200 a head), which are booked solid into next year. This fall the company will offer...