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Associates have a ball at Wal-Mart's shareholder meeting

Posted Jun 12th 2007 6:40PM by Brian White
Filed under: Annual meetings, Wal-Mart (WMT)

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When I attended the most recent Wal-Mart shareholder meeting, I was quite amazed at the overall feel of the event. It did not feel like a shareholder meeting at all, but more like an entertainment venue. The amount of celebrities brought in before the meeting's day and during the meeting itself was quite impressive. From Jimmy Buffett to recent American Idol winner Jordin Sparks, there was no shortage of entertainment talent.

But that was not the focus. First and foremost were Wal-Mart (NYSE: WMT) associates. The entire shareholder meeting centered around Wal-Mart employees. Stories about the heroism and genuine goodness of Wal-Mart's employees went on for hours, with several examples from Wal-Mart locations outside the U.S. In looking at this Wal-Mart employee's account, this seems to be the highlight of the year for many Wal-Mart employees. It's like an awards convention of sorts if certain associates are accepted to attend, and the general attitude is that it's quite an event to be an actual associate and also be in attendance when one of these shareholder meetings happen.

The business portion of the meeting, as I referenced earlier, was actually too short from my perspective. Maybe Wal-Mart likes it that way. With WMT shares having remained stagnant for years, I would have though there would be more pressure from institutions holding shares to get Wal-Mart's "butt in gear" when it comes to doing something to ensure a decent return is happening on all those millions of shares. While it's hard to grow a $344 billion company, there are definitely areas to improve upon.

Tags: Wal-Mart, Wal-Mart shareholder meeting, Wal-Mart Stores, Inc., Wal-martShareholderMeeting, Wal-martStores,Inc., WMT

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