Goldman Sachs and Walmart

http://www.futureofcapitalism.com/2010/04/goldman-sachs-and-walmart

It hasn't attracted much press attention amid the brouhaha over the SEC complaint and the Rajaratnam alleged insider trading, but Goldman Sachs announced last month that it is going to bring H. Lee Scott Jr., who was CEO of Walmart from 2000 to 2009, onto its board of directors.

It's an interesting choice. Mr. Scott oversaw Walmart's transformation in the American popular imagination from a demon -- putting mom-and-pop Main Street stores out of business, breaking unions, denying workers health care, discriminating against women, etc. etc. -- into a kind of politically correct poster child of an American business, embracing cap-and-trade and ObamaCare, installing solar panels, hawking organic lettuce, and winning praise from the Atlantic Monthly and from Thomas Friedman.

It'll be interesting to see whether Mr. Scott's image turnaround expertise is transferrable.

by Ira Stoll  |  Apr 23, 2010 at 10:08 am Related Topics:  Goldman Sachs, SEC receive the latest by email: subscribe to the free futureofcapitalism.com mailing list