I guess you could call this the end of an era. The last full-size Kmart in the United States is closing. Gone. In the meantime, Walmart is flourishing, and this gives me a chance to address CEO pay. How? Well, why did Kmart fail? Why is Walmart so successful? Not to take anything away from the workers, but they’re not the reason. The reason: management. The reason: leadership. The reason: CEOs.
NEAL BOORTZ
ATLANTA – K-Mart, the once-mighty chain of retail stores that peaked at 2,500 locations across the United States, is closing its last store location in Bridgehampton, NY. Many people are wondering how this is possible. How could the company that pioneered the discount store model possibly go extinct, especially considering how ubiquitous they were in American society and culture?
Boortz has the answer: Poor Management.
Today, Neal looks at the failure of K-Mart versus the success of Wal-Mart and explains exactly why it is important to have talented, smart, and competent CEOs heading corporations. He’ll also explain why it’s a mistake of leftists to criticize the income of a highly-paid CEO.