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View Full Version : WM bid to buy Daiei stores rejected



Miulang
January 28th, 2005, 10:17 AM
Hot off the press: The Japanese bankruptcy court has rejected WalMart's offer to help bail out Daiei. So you guys can breathe a little easier...there will continue to be competition for WM at Keeaumoku at least for the short term. WM insists that they will be looking at other opportunities in the Japanese market, even though their profitability with co-partner Seiyu is disappointing.

Miulang

http://sfgate.com/cgi-bin/article.cgi?f=/news/archive/2005/01/28/financial0810EST0038.DTL

adrian
January 28th, 2005, 03:46 PM
Isn't there enough cheap japanese stuff? (those plastic toys in the $1 sections)

What will it be? We'll be able to buy those things in bulk? (at Sam's Club) Or lowering those prices to $.50 or less?

Miulang
January 28th, 2005, 03:59 PM
Isn't there enough cheap japanese stuff? (those plastic toys in the $1 sections)

What will it be? We'll be able to buy those things in bulk? (at Sam's Club) Or lowering those prices to $.50 or less?
Um, Adrian? If you go into Daiei and look at that "cheap Japanese stuff", look at the labels and see where the stuff was made. Most of the time, the little sticker will say, "Made in China". That's the same thing you see at WM, too. Clothes are made in Guatemala, Sri Lanka, and India now. Some consumer electronics are about the only thing "Made in Japan" nowadays. It's called "globalization", which means we are buying stuff from all over the world, Your tomatoes, if they're not local, come from Mexico or California, depending on the season; your green peppers come from Canada or Mexico; sometimes your grapes will come from Chile. In order to thrive in this world, you have to learn about the world outside the US. :D

Miulang

Miulang
January 30th, 2005, 01:46 PM
Since the Japanese government has said, "arigato, but no arigato" to WM's bid to take over Daiei, WM will be concentrating on beefing up its holdings in Seiyu, another Japanese company of which they already own 6%. Seiyu is struggling to gain profitability in the Japanese market.

Miulang

http://www.iht.com/articles/2005/01/30/bloomberg/sxwalmart.html