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Legislative, Regulatory & Legal

  • Former Best Buy chief Dunn may get $3.2 million; investigation widens

    Minneapolis -- According to a Wednesday filing by Best Buy, former CEO Brian Dunn may receive either $3.1 million or zero in termination payments following his highly publicized resignation.

    The payout is dependent on whether or not Dunn is determined to have left voluntarily on April 9.

    In the filing, Best Buy said it is reviewing Dunn’s compensation pending its investigation into his personal conduct.

  • Second largest U.S. public pension fund files suit against Wal-Mart

    New York -- The California State Teachers' Retirement System (CalSTSR), the second largest U.S. public pension fund, has filed a lawsuit against current and former Wal-Mart Stores’ executives and board members over mishandling of allegations that officials knew about a bribery campaign in Mexico and covered it up. The fund holds more than 5.3 million shares of Wal-Mart.

  • We don’t need no stinking badges – WMT execs guilty!

    The California State Teachers’ Retirement System (CalSTRS) this week filed a lawsuit against current and former Walmart executives stemming from the April 22 New York Times article, which chronicled the company’s alleged use of bribes to accelerate expansion in Mexico and efforts by top executives to quash an investigation when the situation was called to their attention.

  • Major Walmart shareholder urges rejection of key board members at annual meeting

    NEW YORK — It’s looking like Walmart’s upcoming annual meeting is going to be a bittersweet affair as the company observes its 50th anniversary against the backdrop of an unfolding Mexican bribery scandal and an appeal from a major shareholder this week urging a no vote on five board members.

  • New York City Pension Funds urges shareholders to vote against Wal-Mart directors

    New York -- New York City Pension Funds is urging shareholders to vote against the re-election of Wal-Mart Stores CEO Mike Duke and four other board members out of concerns about the chain’s bribery investigation in Mexico, the Associated Press reported.

    The pension group owns 5.6 million shares of Wal-Mart, which has more than 3.4 billion shares outstanding.

  • Worst state for business is where Target has most stores

    Target has done quite well for itself in California, but that doesn’t mean it’s been easy. Ironically, the state with the most extensive network of Target stores also happens to be the one identified as the worst state in which to do business, according to a recent survey.

  • NRF: Swipe fees haven't dropped enough

    WASHINGTON — The National Retail Federation is responding to a report from the Federal Reserve, which revealed that debit card swipe fees collected by the nation's largest banks have significantly dropped since reform regulations took effect last fall.

  • Target kisses Kindle goodbye, but could gain sales in the process

    Retailers are in business to sell products customers want, except when they’re not, which appears to be the case with the retailer’s decision to stop selling Amazon.com’s hugely popular Kindle devices.

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