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Surviving In The Market
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Can Wal-mart get the magic back? In the four years since Wal-mart's founder died of bone cancer, CEO David Glass has invested billions of borrowed dollars in businesses that have earned relatively low returns. Glass, age 60, seemed to be a good choice for CEO when Sam Walton, at 69, tapped him to take over in 1988. Investors have knocked down W ....
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Glass has lifted Wal-Mart's long-term debt from $1.7 billion in 1992 to $8.5 billion. Glass plans to make Wal-Mart America's largest grocer by saturating the country with "super centers," emporiums that combine a supermarket and general-merchandise store under one roof. Sam lived to see Wal-Mart open only a few super centers. But right after he.... |
| Word count: 620 |
Page count: 3 |
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