Word: walton
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...remarkable statement: the best retail company ever created, the largest company in the world, with annual sales of $345 billion, is struggling. So it requires a big, bold fix. The company that Sam Walton created for the rural South is being massively overhauled to compete in the more urban, more competitive universe where it now lives. You might not notice it yet if you shop there, but Wal-Mart is in the midst of a revolution, an audacious three-year plan that will change practically everything the company does: the way it builds and operates stores, the way it buys...
...colleagues. This one counsels you to do so with self-awareness, finding a style that suits your strengths and weaknesses. The authors describe five models for would-be persuaders: driver (Intel ceo Andy Grove), commander (J.P. Morgan), promoter (Andrew Carnegie), chess player (John D. Rockefeller) and advocate (Sam Walton...
...want to do business in China, call Balbina Wong. The deputy chairman and CEO of luxury-brand management and distribution group ImagineX, as well as its retail-management sister company the Walton Brown Group, Wong, 64, has played a pivotal role in the expansion plans of brands like Ferragamo, Hugo Boss, Marc Jacobs, DKNY, Tumi and Coach into what is predicted to become the world's biggest luxury market...
...sale in greater China (including Hong Kong and Taiwan). But it doesn't stop there. While, for example, Prada and Gucci are not on her books anymore, it was Wong who provided the springboard for both into mainland China, and she continues an association as their landlord through the Walton Brown Group's shopping malls, the most prestigious of which are specialty designer stores called Maison Mode...
...firms are starting to defy this unspoken rule. A team of PE players joined forces with publicly held Vornado Realty earlier this year to try to derail Blackstone's agreement to buy office giant Equity Office Properties Trust. Although the PE contingent, which included Starwood and Walton Street Capital, eventually dropped out, the ensuing bidding war wound up costing Blackstone significantly more to buy Equity Office in what became the largest leveraged buyout in Street history. Blackstone was forced to boost its bid to $55.50 a share, or $39 billion, from the original $48.50 a share. Another deal jumper...