Wal-Mart chief H. Lee Scott tells New York Times editors that the retail company is giving up on trying to make it in New York city. (He clarified later that he was referring only to Manhattan, not outer boroughs.) He can't bust the unions, is why.
H. Lee Scott Jr., the chief executive of the nation’s largest retailer, said that trying to conduct business in New York was so expensive — and exasperating — that “I don’t think it’s worth the effort.”
Mr. Scott’s remarks, delivered at a meeting with editors and reporters of The New York Times, amounted to a surprising admission of defeat, given the company’s vigorous efforts to crack into urban markets and expand beyond its suburban base in much of the country. In recent years, Wal-Mart has encountered stout resistance to its plans to enter America’s bigger cities, which stand as its last domestic frontier.