Despite Wal-Mart’s pronouncements that it is not interested in take over of local Companies it track record shows otherwise.
‘Although Walmart International has completed three acquisitions during the past 12 months, it is actually the least preferred method of growth, according to international division CFOCathy Smith. Just imagine if acquisitions were the top priority….(retailing to day)’
The US retailing giant is in talks to buy an 80% stake in Turkey’s Migros Ticaret from British private equity group BC Partners, the Financial Timeshas reported (paywall). Walmart spokesman Kevin Gardner, in an email to Quartz, said the company would not comment on “rumors and speculation.”
Why would Walmart even be considering such a move?
International acquisitions have been a core part of Walmart’s strategy, despite the company’s recent efforts to act disinterested in overseas purchases. In March, Walmart’s international division chief financial officer Cathy Smith called acquisitions the company’s last priority for international growth. That same month, the company finalized its purchase of South Africa’s Massmart for $2.4 billion. As of Nov. 30, Walmart had 5,964 international units in Central and South America, Africa, and East Asia.
Turkey might be a well-placed market for Walmart and Migros a potentially promising deal. (Mi is French for “mid-way” and gros means “wholesale.”) If the acquisition goes through, Wal-Mart will own the 888 Migros stores throughout Turkey; the Turkish retailer also operates stores in Kazakhstan, Kyrgyzstan and Macedonia, part of the globe the world’s largest retailer has yet to penetrate.
For instance 70% of Tamil Nadu Provision Stores are controlled by the Nadar Community,who form 20 % of the population.
I am sure the Statistics will be similar in the North.
Come on, let’s give Wal-mart a run for its money.
From Shanghai to Chengdu, the outlets run by China’s largest big-box retailer, Sun Art Retail Group Ltd. (6808), are recreating American-style Wal-Marts, with one big difference: They’re giving them the feel of local street markets with hairy crabs laid on table tops and discounted hot-pot ingredients. That formula has helped it crack the country’s 507 billion yuan ($81 billion) hypermarket industry overseas rivals Tesco Plc. (TSCO), Wal-Mart and Carrefour SA (CA) have struggled to get a handle on.
Sun Art succeeded in outdoing Western rivals through more localized management, sharper knowledge of the Chinese consumer, tailoring shopping experiences and offering discounts on regional specialties, said George Ren, a Shanghai-based analyst at industry consultant Roland Berger.
“Foreign retailers have yet to understand local consumer preferences and create the image they are perfect for them, while Sun Art has,” said Ren.
How naive US can be to believe that Pakistan shall keep US secrets,especially when they know pakistan leaked information whenever it tried to hunt Osama bin Laden!
Pakistan seems to be eager to please China after it stationed Commandos in Pakistan border after terrorist attack in China.
(Reuters) – Pakistan gave China access to the previously unknown U.S. “stealth” helicopter that crashed during the commando raid that killed Osama bin Laden in May despite explicit requests from the CIA not to, the Financial Times reported on Sunday.
The disclosure, if confirmed, is likely to further shake the U.S.-Pakistanrelationship, which has been improving slightly after hitting its lowest point in decades following the killing of bin Laden.
Among the emails that were published was a report prepared by HB Gary– in conjunction with several other top online security firms, includingPalantir Technologies — on how to destroy WikiLeaks. The emails indicated the report was part of a proposal to be submitted to Bank of America through its outside law firm, Hunton & Williams. News reports have indicated that WikiLeaks is planning to publish highly incriminating documents showing possible corruption and fraud at that bank, and The New York Timesdetailed last month how seriously top bank officials are taking that threat. The NYT article described that the bank’s “counterespionage work” against WikiLeaks entailed constant briefings for top executives on the whistle-blower site, along with the hiring of “several top law firms” and Booz Allen (the long-time firm of former Bush DNI Adm. Michael McConnell and numerous other top intelligence and defense officials). The report prepared by these firms was designed to be part of the Bank of America’s highly funded anti-WikiLeaks campaign.
The leaked report suggested numerous ways to destroy WikiLeaks, some of them likely illegal — including planting fake documents with the group and then attacking them when published; “creat[ing] concern over the security” of the site; “cyber attacks against the infrastructure to get data on document submitters”; and a “media campaign to push the radical and reckless nature of wikileaks activities.” Many of those proposals were also featured prongs of a secret 2008 Pentagon plan to destroy WikiLeaks.
One section of the leaked report focused on attacking WikiLeaks’ supporters and it featured a discussion of me. A graph purporting to be an “organizational chart” identified several other targets, including former New York Times reporter Jennifer 8 Lee,Guardian reporter James Ball, and Manning supporter David House. The report claimed I was “critical” to WikiLeaks’ public support after its website was removed by Amazon and that “it is this level of support that needs to be disrupted”; absurdly speculated that “without the support of people like Glenn, WikiLeaks would fold”; and darkly suggested that “these are established professionals that have a liberal bent, but ultimately most of them if pushed will choose professional preservation over cause.” As The Tech Herald noted, “earlier drafts of the proposal and an email from Aaron Barr used the word ‘attacked’ over ‘disrupted’ when discussing the level of support.”
In the wake of the ensuing controversy caused by publication of these documents, the co-founder and CEO of Palantir Tech, Alex Karp, has nowissued a statement stating that he “directed the company to sever any and all contacts with HB Gary.” The full statement — which can be read here — also includes this sentence: “personally and on behalf of the entire company, I want to publicly apologize to progressive organizations in general, and Mr. Greenwald in particular, for any involvement that we may have had in these matters.” Palantir has also contacted me by email to arrange for Dr. Karp to call me to personally convey the apology. My primary interest is in knowing whether Bank of America retained these firms to execute this proposal and if any steps were taken to do so; if Karp’s apology is genuine, that information ought to be forthcoming (as I was finishing writing this, Karp called me, seemed sincere enough in his apology, vowed that any Palantir employees involved in this would dealt with the way they dealt with HB Gary, and commendably committed to telling me by the end of the week whether Bank of America or Hunton & Williams actually retained these firms to carry out this proposal).
First the loose hacker group Anonymous retaliated against one of the firm’s employees investigating Anonymous byhacking into the corporation’s servers and spilling 50,000 emails onto the Web. Then a string of those stolen emails revealed a proposal by the firm and two others to launch a campaign of illegal cyberattacks and calculated misinformation against WikiLeaks and its supporters.
Now, just a few days later, one of those firms, Palo Alto-based Palantir, has publicly cut ties with HBGary and apologized for its role in the WikiLeaks response plan, essentially verifying the reality of that plan and isolating HBGary further.
In a statement to the press, Palantir chief executive Alex Carp writes, “I have directed the company to sever any and all contacts with HBGary.” Karp adds that “Palantir Technologies does not build software that is designed to allow private sector entities to obtain non-public information, engage in so-called ‘cyber attacks’ or take other offensive measures. I have made clear in no uncertain terms that Palantir Technologies will not be involved in such activities.”
On Thursday, the Tech Herald reported that hacked emails from HBGary revealed a PDF document outlining a proposal to Bank of America to sabotage WikiLeaks on multiple fronts, a response plan to what some believe may be a release of Bank of America’s internal documents by WikiLeaks in coming months. The PDF suggested launching cyberattacks on WikiLeaks servers, spreading misinformation about its insecurity, and even pressuring journalists who support the site, specifically focusing on Glenn Greenwald of Salon.com.
While monopoly media power has to be curbed, it is also imperative that Government also ensures that it does not interfere.But this is followed more in the breach.
The BBC has been holding discussions with City advisers about floating part of BBC Worldwide, its commercial arm, in response to pressure from the government and commercial rivals to dilute its media market power.
As Sir Michael Lyons, chairman of the BBC Trust, told the Financial Times on Tuesday that he had “an open mind” about the future ownership of Worldwide, people with knowledge of the matter said a partial flotation was one of several possible outcomes, including no change to its status. http://www.ft.com/cms/s/0/e5f8c2b8-d93c-11de-b2d5-00144feabdc0.html