Pay, political measures on Wal-Mart table

http://www.nwanews.com/adg/Business_Matters/226861/

BY STEVE PAINTER

Posted on Sunday, May 25, 2008

Eight resolutions seeking to change some of Wal-Mart Stores Inc. ’s business practices or shed more light on them await shareholders when they gather for the company’s annual meeting June 6.

The number is down from 11 last year as the company’s financial performance has improved and it has spent somewhat less time in the public spotlight.

Going into last year’s meeting, Wal-Mart was dealing with several high-profile issues that kept it in the news, including a court battle with fired advertising executive Julie Roehm; the firing of an employee who said he eavesdropped on board members and a reporter as he tried to identify the source of company leaks; and a constant barrage of criticism from unionfunded groups.

However, the Bentonvillebased company still draws plenty of attention.

This year’s resolutions seek, among other things, to change how executive pay is calculated, to establish a human-rights committee at the company board level and to mandate reports on the company’s political activities and its reputation.

Wal-Mart’s management recommends that all the measures be defeated except those proposed by the company: electing the proposed slate of directors; approving its incentive plan for management; and renewing its contract with Ernst & Young to audit the company’s financial statements.

FULL story at link.