• Phil Hardwick

Did Wal-Mart really suffer a “startling setback” last year?

How would you like it if your company increased revenues 7.1 percent profits 5.3 percent during the past year, and you heard Wolf Blitzer say this:  “(your company) has been suffering a startling setback.  Anyway, ahead, the discount giant’s new fall.  What’s going on?”

The company is Wal-Mart and the comment was made by Blitzer at about 3:45 p.m. CDT on The Situation Room.  What’s going on is that Wal-Mart went from Number 1 to Number 2 on the Fortune 500.  And that’s a “startling setback?”  Sounds like media hype to me.  The Situation Room went on to list companies as “Winners and Losers” based on the list.  Give me a break.  I wonder if $150/barrel oil had anything to do with ExxonMobile going to Number 1.

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