Word: wal
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...business decision, a political decision or a moral decision? Wal-Mart, the nation?s fifth largest distributor of pharmaceutical products -- and often the sole druggist in smaller communities -- has decided not to sell an FDA-approved medication. The drug is Preven, a prescription morning-after pill that prevents pregnancy. The company says it?s strictly a "business decision"; Planned Parenthood and others involved in the birth control and abortion debate aren?t so sure. They believe the company is reacting to pressure from pro-life groups, though the company denies...
...Over the past few months, Stansky has lightened his tech load, from 25% to 20%, replacing Intel and Lucent at the top of his portfolio with Citigroup and Time Warner [parent of TIME's publisher]. He still has Microsoft, MCI WorldCom, AOL and Cisco (along with GE, Home Depot, Wal-Mart and Merck) at the core, a strategy that's working; so far, he's still beating the S&P, with a 12% return this year...
...economy recovers from the Asian flu. "What started two weeks ago started too fast and was too extreme," says Jeffrey Warantz, strategist at Salomon Smith Barney. "But it's not over." Warantz's research shows that it isn't just tech stocks or large consumer stocks like Merck and Wal-Mart that are rising now. Several weeks ago, 81% of the stocks that he tracks were lagging the gains in Standard & Poor's 500 by 15% or more. Last week the reading was down to 76%. That hardly points to a party to which everyone's been invited. Still, many...
...follow. In New York City, Mayor Rudolph Giuliani is thinking of introducing vouchers, though his schools' chancellor has threatened to resign if the mayor does. Privately funded voucher programs have sprung up in an additional 39 cities, and this week the largest such program in the U.S., founded by Wal-Mart scion John Walton and financier Ted Forstmann, is scheduled to award scholarships of as much as $1,600 each to 40,000 low-income students across the U.S., a number equivalent to the roll call in a city the size of Rochester...
...books for him so that he doesn't have to read any, gave $1 million to the Library of Congress last Wednesday. Financier George Soros spent some $2 million last year toward making marijuana legal for medical use. Now comes leveraged-buyout mogul Ted Forstmann, who together with Wal-Mart heir John Walton is spending $100 million to give 40,000 scholarships to disadvantaged children who want an alternative to public school. This week the Children's Scholarship Fund will announce that it has been besieged with applications for the $600 to $1,600 annual stipends, even though strapped parents...