Share |

Walmart

November 19, 2013

A US environmental group has accused family-controlled retail giant Walmart of leaving some of its most polluting activities off its annual sustainability report.

In 2005, the hypermarket chain, controlled by the Walton family, launched a much-publicised sustainability campaign. It says since then its greenhouse gas emissions have risen only 14%.

Kenyan family feud over sale of supermarket chain

September 3, 2013

A Kenyan family's feud over whether their supermarket chain is or is not a family business has not yet derailed a deal to sell a controlling stake to an outside investor, with a court giving the green light for the deal.

Newton Kagiha, a disinherited son of Peter Mukuha Kago, applied for an injunction from the high court to block the sale of the family’s Naivas supermarket chain while a dispute over inheritance was resolved.

Walmart chairman targeted for expensive car hobby

August 21, 2013

A group of disgruntled Walmart employees have taken aim at the expensive hobby of its second-gen chairman, in a protest to point out the pay discrepancy between the family business’s minimum wage workers and its top-level executives.

S. Robson Walton, 68, was targeted while taking part in a racing event in California with his collection of luxury cars, including a Maserati and a Ferrari, valued at an estimated $16 million.

Two separate protests were staged – one in front of the Mazda Raceway Laguna Seca and the other at a nearby Walmart store.

Family business roundup: American Greetings, Wal-Mart and Hero MotoCorp

August 9, 2013

American Greetings Corporation returns to full family ownership, Wal-Mart mulls bid for Hong Kong supermarket chain, and Indian family firm announces expansion plans.

American Greetings Corporation
American Greetings Corporation has returned to private ownership, following a $612 million (€458 million) buyout by the Weiss family – descendants of Jacob Sapirstein who founded the company in 1906.

Would a family business by any other name be as profitable?

July 25, 2013

When they start a business, many people naturally give it there own name. It suggests solidarity and trustworthiness, and helps a lot in meetings. But is there a moment when it's no longer desirable to be inextricably tied to your family's business?

Earlier this year the French luxury group Pinault-Printemps-Redoute changed its name to Kering. In doing so, it took big step – it shed the family name. The decision to do so was taken by the chairman and CEO, Francois-Henri Pinault, who is the son of the business’s founder (the Printemps and Redoute are from various takeovers). Pinault cited perfectly sound business reasons for the rebranding – chief among them that only 5% of the group’s sales now come from France. Nonetheless, this is a Rubicon many family businesses would struggle to cross.

Walmart and Gap launch alternative safety agreement for Bangladeshi workers

July 11, 2013

Many North American clothing brands that refused to sign a union-backed safety agreement following April’s factory disaster in Bangladesh, have now formed their own alliance to improve worker safety in the country.

Infographic: US family businesses

June 26, 2013

Family business should not be confused with small business in the US

Size matters in the US, which is home to some of the world’s biggest family businesses. The country’s five largest family-controlled firms – Walmart, Ford, Cargill, Koch Industries and Comcast – had combined revenues of $911.9 billion (€694.8 billion) in 2012, more than Indonesia’s GDP.

Walmart will not sign Bangladesh worker safety agreement

May 16, 2013

Walmart has stated it will not sign an international agreement to improve worker safety in Bangladesh drawn up by unions.

IndustriALL and UNI Global have spearheaded the plan in the wake of the collapse of the Rana Plaza, which killed more than 1,000 workers and is being described as one of the largest industrial disasters in recent history.

The agreement is a programme of fire safety reforms, independent inspections, and worker-led health and safety committees. It will also give unions access to factories.

Family business roundup: Lego and Prada post big profits, Walmart reflects on a solid year

February 22, 2013

It has generally been a strong week for family business results, with Lego and Prada posting impressive profits for 2012, while Walmart reported solid growth.

Lego
In the face of sluggish economic recovery in Denmark, the toymaker famous for making billions of small, coloured bricks every year has posted outstanding results for 2012.

Family business roundup: JCDecaux and JBS expand operations, LVMH and ArcelorMittal consider sales

October 23, 2012

Sales and acquisitions have been proving popular with family businesses recently, with French outdoor advertiser JCDecaux and Brazilian food processor JBS in a buying mood, while L Capital and ArcelorMittal are considering selling some of their subsidiaries.

Family-controlled JCDecaux has acquired a 25% stake in Russia’s largest billboard operator, Russ Outdoor, which until 2011 was a subsidiary of fellow family-controlled group News Corporation.