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...Hatfield is the quintessential Wal-Mart guy--a chain-smoking good ole boy from Baltimore who started as an assistant store manager and toy buyer in the American heartland nearly 30 years ago under the tutelage of Sam Walton. Today he is the missionary from Bentonville, Ark., bringing the Wal-Mart way to China. "I was blessed to work for Sam Walton," he says, "and I am doubly blessed to work in China." Walking through a brightly lighted store in Shenzhen, the boom town across the border from Hong Kong, Hatfield, who heads Wal-Mart's retail operations in China...
...From Wal-Mart's modest offices across town--a sea of small cubicles plastered with Sam Walton's inspirational messages (DON'T ALLOW YOURSELF TO FALL INTO DIFFICULT SITUATIONS YOU CAN'T CHANGE!) in Chinese--Hatfield is staging his own little revolution. He runs 46 stores today but has much bigger plans. In two years, Wal-Mart will double that number and, in the next year alone, he will train some 25,000 new employees in the art of delivering those everyday low prices to China's growing middle class. It's a grueling, nonstop job. Hatfield has visited...
...agree that Americans such as Condoleezza Rice, software inventor Bram Cohen and to a limited extent New York State attorney general Eliot Spitzer have achieved breakthroughs that the rest of the world can care about. I was not impressed, however, by your choice of Senate majority leader Bill Frist, Wal-Mart ceo Lee Scott and, goodness, actor Jamie Foxx, among others. It's like 2001 all over again, when Time chose Mayor Rudy Giuliani over the real Person of the Year, Osama bin Laden. The world is not the U.S., and the U.S. is not the world. Edwin Del Valle...
Retailers like Wal-Mart and Home Depot are quietly replacing common items with more expensive versions, driving up the price of an average basket at their stores. Think of a plain gas grill replaced by a fancier one for $20 more. Sure, you get a warming tray, but you still pay more to grill your burgers...
...Georgetown plant, "we're never satisfied." Convis says Toyota has cut the delivery time for custom models from 10 weeks to 10 days, and that his facility has reduced some manufacturing costs by as much as 70%. A group of assembly workers from the plant went to Wal-Mart last year hunting for cheaper bins to hold supplies along the line. Toyota now buys thousands of those bins for just $3.50 each, vs. $40 for the old ones. Convis could go on, but that would be bragging. And that wouldn't be the Toyota way. --With reporting by Jim Frederick/Tokyo...