Walmart

WASHINGTON -- The world's largest retailer will be surrounded by plenty of critics today as it begins explaining to the Federal Deposit Insurance Corp. (FDIC) its plans to provide banking services through an Industrial Loan Corporation (ILC). The hearings are the first-ever formal public hearings on a bank application.

WILLIAMSVILLE, N.Y. -- In line with parent company Ahold USA's determination to beef up its soft supermarket sales, Tops Markets, LLC, based here, said yesterday it was undertaking a series of steps to raise its profile in its core western New York market.

BENTONVILLE, Ark. -- Wal-Mart Stores, Inc. said yesterday it has promoted Lawrence Jackson, who was previously e.v.p. of its people division, to president and c.e.o. of its global procurement division. Jackson will continue to report to president and c.e.o. Lee Scott.

CHICAGO -- In a speech yesterday at the Newspaper Association of America's annual convention here, Wal-Mart Stores' c.e.o. Lee Scott unveiled the retailer's latest PR and business initiative, "Wal-Mart Jobs and Opportunity Zones," a nationwide plan to build more than 50 stores in neighborhoods with high crime or unemployment rates, on sites that are environmentally contaminated, or in vacant buildings or malls in need of revitalization, over the next two years.

NEW YORK -- Bentonville, Ark.-based Wal-Mart Stores slipped one spot to No. 2 on this year's Fortune 500 list, edged out of the top spot by Exxon Mobil on Fortune magazine's annual ranking of America's largest corporations by revenue.

Wal-Mart's experimental supercenter in Aurora is the retailer's biggest, newest step becoming an environmental steward.

BENTONVILLE, Ark. -- In the latest example of post-Katrina progress, Wal-Mart Stores, Inc. here is re-opening two supercenters in New Orleans just seven months after Hurricane Katrina devastated the Gulf Coast.

ARLINGTON, Va. -- The latest move to stop Wal-Mart from entering the banking business comes from within the supermarket industry. The National Grocers Association has submitted a statement to the Federal Deposit Insurance Corporation (FDIC), in preparation for testimony to be delivered on April 10 by Thomas F. Wenning, s.v.p. and general counsel of NGA.