Posted on 08/30/2006 10:54:02 AM PDT by Reagan Disciple
(XIN) Wal-Mart hires Clinton aide to improve image 2006-08-30 13:14 (New York)
LOS ANGELES, Aug 30, 2006 (Xinhua via COMTEX) -- Wal-Mart Stores Inc., the world's largest retailer, is hiring an advisor to former president Bill Clinton to cope with mounting criticism, a newspaper report said on Wednesday.
Under the deal, Leslie Dach officially joins the company's payroll this month as executive vice president of corporate affairs and government relations, reporting directly to Chief Executive H. Lee Scott.
Dach will get at least 3 million U.S. dollars over the next two years to direct a rapid-response team to criticism, according to the Los Angeles Times.
Dach is a former Democratic Party political operative with wide- ranging communications duties during the Clinton administration.
Wal-Mart's move highlights the importance that Wal-Mart has placed on improving its image.
Wal-Mart has been under criticism from union-backed groups and political parties for its low wages, poor benefit system and environmental polices.
In Tuesday's filing with the Securities and Exchange Commission, Wal-Mart disclosed that Dach would be awarded a stock grant of 67, 522 shares that would vest over the next two years. At Tuesday's closing share price of 44.49 dollars, the grant would be worth just more than 3 million dollars.
In taking the job, Dach touted the company's improvements on environmental and healthcare issues.
"The changes are real and substantial steps for the business," Dach said. "I look forward to working with Wal-Mart and its senior management to continue on its path of change."
But critics of Wal-Mart call the changes cosmetic, pointing to wages they say are barely above the minimum wage and healthcare plans that offer catastrophic, rather than comprehensive, coverage.
The anti-Wal-Mart group WakeUpWalMart.com, funded by the United Food and Commercial Workers union, was quick to criticize Dach's pay package - noting that because the company has not disclosed Dach's base salary, his total compensation is even higher.
"It's outrageous and disgusting that Wal-Mart finds millions of dollars to pay its executives like Dach but seemingly doesn't have the money to provide affordable healthcare and good wages to its workers," a spokesman for WakeUpWalMart.com, Chris Kofinis, said Tuesday.
I thought Wal-Mart had better sense than this.....have to think whether I'll be spending anymore money with them....
Basing your business model on Chinese slave labor's one thing, but this is too much.
yes, Viagra is a good analogy. The article says that Wal-Mart needs to cope with "mounting criticism". Granted that "mounting" is a term used more to describe animals mating than human copulation, but perhaps it could be applied to Bill. Let's ask Hillary about his, ahem, performance.
Sounds like a typical Jesse Jackson shake-down operation....
another shot well aimed at the foot, I see...
Do you have a source link for this article? Thanks.
Besides you can buy the same stuff anywhere and for more money too. ;-)
I think he should concentrate on trying to improve the clinton image , but that might be too tough a job for Dach .
Over the past few years, the price of steel has skyrocketed due to competition in demand from Chine. Now we are getting stuff dumped on us for cut rate prices.
What if there was no Walmart? What if the huge conduit of goods from China to the US was owned lock stock and barrel by the chinese?
What will happen in the future if Walmart is thwarted by US government regulations and the international trade machine with China is owned solely by Taiwan and mainland China? The profits that we complain about made by Walmart will be dwarfed by the profits of a chinese owned mega-corporation.
If China takes control of marketing to the US you can kiss our sovereignty good bye.
I'd rather pay Farberware for stuff made in China rather than a chinese company.
yup, pretty obvious union shakedown - hire a thug to make problems disappear...University of California has just done this same with the creation of a new Vice Chancellor of Tolerance (~$5 million anum) - Mordita bites!
That's like hiring a Mustang Ranch Madame to advise you how to dress well.
Hey, the last guy blamed Jews and Koreans, so this guy couldn't do any worse.
heck, I was hoping it was Craig Livingstone.
Walmart ping
The unions are the last one who should be complaining about pay packages...
>>>The anti-Wal-Mart group WakeUpWalMart.com, funded by the United Food and Commercial Workers union, was quick to criticize Dach's pay package - noting that because the company has not disclosed Dach's base salary, his total compensation is even higher.
Those low profile special interest groups keep tightening the garrote of WallyWorld's, Ford's and the USA's necks.
When we get off our sanctimonious soapboxes we'll open our two liter colas and plop down on our leather sofas to watch our 61" Plasmas...while our kids enrich algore with their Ipods and purchases of Itunes.
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