Andy Young and Wal-Mart

Many of Wal-Mart‘s (WMT) critics overlook the fact that the company’s shares haven’t done particularly well over the past few years. Since the beginning of 2003, the stock is down 10% while the S&P 500 is up over 40%. Of course, that may please some of critics.
The company has embarked on a much-needed PR compaign. As I said before, this may be the world’s first PR campaign that itself needs a PR campaign. Now Andrew Young has defended the company due to its bigotry:

Young was asked whether he was concerned Wal-Mart causes smaller, mom-and-pop stores to close. “Well, I think they should; they ran the `mom and pop’ stores out of my neighborhood…But you see, those are the people who have been overcharging us, selling us stale bread and bad meat and wilted vegetables. And they sold out and moved to Florida. I think they’ve ripped off our communities enough. First it was Jews, then it was Koreans and now it’s Arabs; very few black people own these stores.”

Charming. Young is a former UN ambassador and winner of the Congressional Medal of Freedom. (Hat tip: Ideoblog via DealBreaker).

Posted by on August 21st, 2006 at 11:58 am


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