Greg Penner, the grandson-in-law of Wal-Mart Stores Inc. founder Sam Walton, became heir apparent to the chairman role today after spending almost a decade investing the family’s money as head of a venture firm in Silicon Valley.
Since the Academy of New Media Middle School in Columbus, Ohio, opened in 2011, it has scraped by, with its principal cleaning toilets and a math teacher pressed into service as school nurse. Only $250,000 in gifts from the Walton Family Foundation keeps the 85-student charter school alive.
Wal-Mart Stores Inc., the world’s largest retailer, has removed greeters from the overnight shift at its U.S. supercenters, chipping away at a 30-year tradition of making sure all shoppers are welcomed to the store.
President Barack Obama held up Wal- Mart Stores Inc. as an example as he seeks public support for an energy and environment initiative that’s been met with skepticism from business groups and Republicans, who say it will kill jobs.