"While economic challenges forced others to step back, we moved forward."
- Wal-Mart CEO Mike Duke, in a memo to employees announcing that the company is awarding some $2 billion in incentives--bonuses, profit sharing, merchandise discounts, and contributions to 401(k) and stock-purchase plans--to hourly employees in the U.S. That's up from $1.2 billion in incentives a year ago. Good for the folks in Bentonville, doing their part to pump up the U.S. economy and satisfying shareholders too. Wal-Mart (WMT) stock is flat vs. a year ago--standout performance amidst the market meltdown.
For the smartest take on how Duke won the succession contest to replace Lee Scott as CEO of the world's largest retailer, read my colleague Suzanne Kapner's story in the February 18 issue of Fortune. - Pattie Sellers
"I feel like I'm riding a bronco and holding on for dear life most of the time." That's how JPMorgan Chase (JPM) chief Jamie Dimon described his life last Thursday when he picked up a "Legend in Leadership Award" at the Yale CEO Summit in New York.
No boss, in banking at least, is as candid as Dimon -- as we've learned at Fortune over the years, and the Summit attendees MOREPatricia Sellers - Dec 15, 2008 1:56 PM ET
Tonight's CNBC documentary hosted by David Faber, Untold Wealth: the Rise of the Super Rich, talks about the widening gap between "haves" and "have-nots" in America. In 1985, there were only 13 billionaires in the U.S. Today there are more than 1,000, and hundreds of thousands of multi-millionaires.
This calls to mind a conversation that Pattie Sellers (Postcards' main author) and I had yesterday with a well-known chief executive. We were MOREPatricia Sellers - Jun 26, 2008 5:33 PM ET
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