September 28th, 2007 06:05 EST
WAL-MART Signs Off On Chinese Goods
In 2005, Wal-Mart executive vice president for benefits, M. Susan Chambers acknowledged "that 46 percent of the children of Wal-Mart's 1.33 million United States employees were uninsured or on Medicaid". Wal-Mart recommendations to hold down spending on health care and other benefits include hiring more part-time workers and discouraging unhealthy people from working at Wal-Mart. [New York Times, 10/26/05]
- China Points to Progress in Food and Product Safety Campaign [Bloomberg News]
Chinese officials said the country has achieved progress in the first month of a campaign to weed out unsafe products...Wal-Mart Stores Inc., Carrefour SA and Metro AG said 99 percent of goods the retailers source in China meet standards and expressed satisfaction with the quality of the country's products, Ministry of Commerce Spokesman Wang Xinpei told reporters in Beijing yesterday.
- Retail giants: 99% of Chinese products qualified [China Daily]
International retail giants Wal-mart, Carrefour and Metro have told China's Ministry of Commerce that they are satisfied with the quality of Chinese products, more than 99 percent of which meet standards, ministry spokesman Wang Xinpei said on Thursday.
- Toy recalls keep parents on their guard [San Antonio (Texas) Express-News]
Wal-Mart's new toy safety program includes more checking and testing toys for safety, increased dialogue among industry players concerning safety, additional help for China to implement new testing procedures and a greater selection of toys made from all across the world.
- Consumers Cautious about Rash of Recalls [Norwalk (Conn.) Citizen-News]
Next time you head to the toy store or supermarket, you may want to check the label before purchasing the product.
- The supersizing of China's shoppers [Online Asia Times]
Foreign-owned mega-marts such as US-based Wal-Mart, France's Carrefour, the United Kingdom's Tesco, and RT-Mart of Taiwan are successfully exporting a new shopping culture to China, with their market share now accounting for about 60% in major Chinese cities.
CS MONITOR: STATE AND CITY HEALTHCARE REFORMS COLLIDE WITH A U.S. LAW
- State and city healthcare reforms collide with a U.S. law [Christian Science Monitor]
Twenty-one states have put forth universal coverage bills this year, according to the National Conference of State Legislatures (NCSL). But Maryland's court losses dealt a blow to these efforts. The state's plan targeted large employers -in effect, Wal-Mart only -and stipulated that their employees must be given health insurance or the state would assess a fee per worker.
PENNSYLVANIA LOOKS INTO POSSIBLE BEEF RECALL
LOS ANGELES TIMES: PLAN TO CUT PORT AIR POLLUTION ASSAILED
- Plan to cut port air pollution assailed [Los Angeles Times]
Two trade associations representing many of the world's largest companies urged the Federal Maritime Commission on Thursday to stop a plan to replace the most-polluting trucks that move cargo in and out of the nation's busiest container port complex...Members of the two trade groups include Wal-Mart Stores Inc., Exxon Mobil Corp., General Motors Corp. and Dow Chemical Co. The ports, which handle more than 40% of all retail goods imported to the U.S., responded with a letter signed by Geraldine Knatz and Richard Steinke, the executive directors, respectively, of the ports of Los Angeles and Long Beach.
WORRY EXPRESSED OVER CHILDREN'S COLD MEDICINE
- FDA Staffers Urge Warnings on Cold Medicines for Kids [Bloomberg News]
Cold and cough medicines shouldn't be used by children under 2 and should carry warnings that they can cause fatal overdoses in young children, U.S. safety reviewers said. Makers of the drugs said they agreed...U.S. sales of non-prescription cough and cold remedies totaled $3.63 billion for the 12 months through Jan. 27, according to AC Nielsen, a New York-based market research company. Sales of children's remedies totaled $284 million. The numbers don't include sales from Wal-Mart Stores Inc., the world's largest retailer.
MORE ON WAL-MART'S $4 GENERIC DRUGS
- Wal-Mart Expands Offerings In $4 Prescription Drug Plan [Wall Street Journal]
Drugstore chains Walgreen Co. and CVS Caremark Corp. have faced concerns that the Wal-Mart program is driving down drug prices and stealing their market share.
- Requiem for a Cartoon: Wal-Mart to Sell $4 Generic Lamisil [Wall Street Journal]
Digger, the repulsive cartoon character at left, has symbolized many things to many people. Today, Wal-Mart may have put the final nail in his coffin by adding the expensive drug he pitched to its list of $4 generics.
- Rite Aid Cuts Outlook Amid Wider Net Loss [Wall Street Journal]
Rite Aid Corp. posted a wider fiscal second-quarter loss, as costs from its recent acquisition of Brooks Eckerd stores offset an increase in revenue...Rite Aid, which trails rivals CVS Caremark Corp. and Walgreen Co. in size, also said current sales trends prompted it to lower its sales outlook for the full year to a range of $24.5 billion to $25.1 billion, down from its previous prediction of $25.3 billion to $26 billion. The range of its same-store sales increase also was dropped, to 1.3% to 3.3%, from a range of 3.8% to 5.8%.
BANKS FOR THOSE AT THE POVERTY LEVEL IN MEXICO
- Mexico's Retail Store Banks Find Savings Among The Poor [Dow Jones via CNN Money]
Mexican retail stores that have opened banks are proving the country's working poor and lower middle class have substantial savings after collecting billions of dollars in deposits in recent years...However, even experienced retailers like Wal-Mart de Mexico face a steep learning curve and major investments in Mexico's heavily regulated and increasingly competitive banking industry.
WAL-MART TO START SELLING DELL COMPUTERS IN BRAZIL
AND ON THE EIGHTH DAY...
- God Made Flesh, Then Plastic [New York Times]
Anyone seeking a mischievous stocking stuffer for Christopher Hitchens or less exalted scoffers need look no further. A growing phalanx of religious action figures -- including Adam, Eve, Daniel, Job, Esther, Goliath, Samson and Jesus -- offer a tweaking reminder that despite Heathendom's best efforts, the faith-based marketplace is forever expanding...Mr. Socha's company has achieved one of this world's most desirable sanctions: Wal-Mart is "test selling" his products at 425 of its 3,376 discount stores and Supercenters, possibly resulting in some serious manna.
PENNSYLVANIA SITE FIGHT: ONE ENVIRONMENTAL MESS DOWN; WHO'S NEXT?
- Wal-Mart shifts focus to North Hills [KDKA-TV (Pittsburgh, Pa.)]
With Wal-Mart scrapping its plans to build a store in Kilbuck Township, has the retailer set its sights on setting up shop in the North Hills? The company already owns the land where Sam's Club and Chi-Chi's were located along McKnight Road. But Wal-Mart still has some major hurdles to clear.
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