"If you don't zero in on your bureaucracy every so often, you will naturally build in layers. You never setout to add bureaucracy. You just get it. Period. Without even knowing it. So you always have to belooking to eliminate it. You know when Tom Watson, Sr., was running IBM, he decided they wouldnever have more than four layers from the chairman of the board to the lowest level in the company. Thatmay have been one of the greatest single reasons why IBM was successful. "They were back there about a half hour, and then they marched out without so much as a goodbye. Afew minutes later, Sam came down and told Whitaker and me that they had issued an ultimatum: Don'tbuild any more of these Wal-Mart stores. We knew he felt threatened because he had all those BenFranklin franchises. But we also knew Sam Walton wasn't the kind of guy you issued ultimatums to."To tell the truth, though, that first Wal-Mart in Rogers wasn't all that great. We did a million dollars in ayear, a lot more than most of our variety stores, which did $200,000 to $300,000 a year. But remember,Saint Robertup there in that Army townwas doing $2 million in sales. Once we opened Rogers, we satthere and held our breath for two years. Then we put stores up in Springdale, a bigger town near Rogers,and Harrison, a smaller town. Here, of course, I have to let David Glass tell his now-famous story aboutcoming to Harrison to see what a Wal-Mart was, and being so horrified at the sight. Lewis Hayden. We're always trying for that fine balance between autonomy and control. Like any big retailer, Wal-Martobviously has certain procedures which we require our stores to follow or items they must stock. But wehave taken steps to make sure our stores have some autonomy. The responsibility for orderingmerchandise lies with the department head. The responsibility for promoting merchandise is with the storemanager. Our buyers have much more responsibility for deciding what's carried in our stores than buyersat most other companies. We run them hard, and we give them a tough time because we don't want themgetting a big head and thinking they're all-powerful. But the fact is that our buyersjust like our folks in thestoresare in unique positions of authority for the retail business. 人人超人人超碰超国产_超碰caoporen97人人_人人澡 人人澡 人人看 鈥淚l est ici comme 脿 Versailles CHARLIE CATE: But before we got the stock issued, the market fell out on us, and we had to postpone the offering. Wewere already having unusual managers' meetings in those days. We would all go fishing together, withoutwives, for four or five days at a time and talk about the business. I remember we were on one of thosetrips to Table Rock Dam, and I had to tell everybody that we were pulling back on the deal. But themarket recovered some, and on October 1, 1970, Wal-Mart became a public company, traded over thecounter. Our prospectus offered 300,000 shares at a price of $15, but it sold for $16.50. It was wellreceived, though not widely held; we only had about 800 shareholders, most of them either institutions orfolks we knew. Those who bought in that offering, or who owned some of those early partnerships andhad them converted in that offering, made an absolute killing. 2. We shall endeavor to present the question as one between this community and God,鈥攁 subject on which He deeply feels, and on which we owe great and important duties to Him and to our fellow-citizens.