Wal-Mart’s $640 million wage case settlement

“Many of these lawsuits were filed years ago and the allegations are not representative of the company we are today,”

Oh really?  Looking at the list of cases I see more than a dozen were filed in 2007 and a significant number filed also in 2006.   Looking at Wal-Mart’s most recent 10-Q, they mention that, “The Company cannot reasonably estimate the possible loss or range of loss that may arise from these lawsuits”[except where they had already settled a few of these cases]. I guess they were able to estimate their losses after all. 

In the New York Times article, lawyers theorized that this is a way to turn the page for the incoming CEO, Lee Scott on an embarrassing past.   With a new, progressive administration and a wave of populist sentiment borne of the financial markets debacle, it might also be an excellent time to recreate Wal-Mart’s image.  Next up, Wal-Mart as a union shop.   Hah!

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