Thursday, June 4, 2009

Stock holders propose. Wal-Mart Stores Inc. disposes

On June 4, 2009, famous American retail chain, Wal-Mart Stores Inc., announced to create more than 22,000 in the current fiscal year through opening 1,300 new stores all over the U.S. The job positions include: Positions will include store management, pharmacists, human resources managers, customer service associates, cashiers and sales associates.

Despite economic recession, Wal-Mart stores did pretty well. In May 2009, the company announced an earning of $3 billion in the first quarter of the current fiscal year. Shares of the retail chain gained a dividend of 77 cents per share which is a penny more compared to its per-share-dividend of 2008. The overall revenue of the company decreased to $93.5 billion from 94.9 billion.

On June 5 2009, Wal-Mart is going to hold its annual stockholders meeting in Bud Walton Arena at the University of Arkansas. In the meeting, Wal-Mart administration is going to discuss six proposals submitted by its share holders. The proposals focus on providing equal opportunity to both men and women, performance based payment system, right to an advisory vote on executive compensation, preparing a semi-annual report on the company’s political contribution, ability to call special meetings and incentive payment in the form of stock options. Interestingly, Wal-Mart administration opposed the proposals. In the meeting, the share holders are also going to elect their new directors.

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Phoenix Business Journal

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