One of Sam Walton's relatives is joining the Wal-Mart (NYSE: WMT) board, so there is, of course, speculation that he may one day get the top job. Of course, he probably does not have one iota of qualification to do anything at the world's largest retailer.
According to The Wall Street Journal, "Gregory B. Penner, who was nominated to the board in April, is the 38-year-old son-in-law of Wal-Mart Chairman S. Robson Walton, himself a son of company founder Sam Walton." That is not entirely true. He was the CFO of the company's Japan operation which has lost hundreds of millions of dollars.
Penner's parents are sex therapists. An excellent background for running a massive chain of big stores.
Douglas A. McIntyre is an editor at 247wallst.com.
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Reader Comments (Page 1 of 1)
6-06-2008 @ 9:37AM
RJ said...
Wal-Mart is a bligh on todays society in my opinion. They sell nothing made in America and that is what is ruining this country. I'll concede they are not the only ones, but because of their lead other companies have followed. I just tried to find a pair of American made work boots, there were lots that were still made in America 2 years ago last time I bought some now those same boots are made in China. This is where Wal-Mart has taken this country. I hope when this son-in-law takes over he does the same thing he has done for Wally World in Japan.
6-12-2008 @ 2:40PM
sue kubecka said...
I just spent over 2 hours to have 3 prescriptions filled at the store in Port Lavaca. I was told that it would take 30 minutes, so, naturally, I did my shopping. Then waited and waited. This pharmacy in this store is significantly ill-staffed and managed. Recommendation: Close it until the mess can be corrected.