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Retail & Politics: Wal-Mart's Political Donations Go to GDP
Aired February 03, 2004 - 06:14 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little "Business Buzz" now. The world's largest retailer is a top contributor to Republican candidates.
Carrie Lee has more on this story live from the Nasdaq market site.
Go for it, good morning -- Carrie.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: OK, Carol.
We're talking about Wal-Mart, the world's largest retailer. It rocketed to the No. 2 spot among top campaign givers in the 2004 federal elections. Rather interesting, because four years ago it didn't even rank in the top 100. This, according to the Center for Responsive Politics.
"USA Today" reporting on this story saying that Wal-Mart's rise is significant because of the way it could impact congressional debates about health care, as well as some other hot button issues. Republican candidates are the big Wal-Mart winners in this year's election. They received 85 percent of the company's contributions, including those of its political action committee, employees and children of founder Sam Walton.
Interesting because Wal-Mart has a lot of lawsuits against it. There's a sexual discrimination lawsuit and some are saying that the growing criticism has tarnished the company's image and helps spur its lead in Washington. So a very interesting story here, Carol, once again coming from "USA Today."
COSTELLO: Quick look at the futures.
LEE: Things looking pretty flat this morning after a mixed session yesterday. The Dow ending higher by 11 points, the Nasdaq down 3, the S&P 500 up 4, as you can see.
Cisco Systems, one of the big companies reporting tonight after the close of trading. Investors will be paying attention to the sales number since that's going to provide a glimpse as to just how strong pick up in corporate spending for networking products and routers really is. We'll see.
COSTELLO: All right. Carrie Lee live from the Nasdaq market site.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
GDP>
Aired February 3, 2004 - 06:14 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little "Business Buzz" now. The world's largest retailer is a top contributor to Republican candidates.
Carrie Lee has more on this story live from the Nasdaq market site.
Go for it, good morning -- Carrie.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: OK, Carol.
We're talking about Wal-Mart, the world's largest retailer. It rocketed to the No. 2 spot among top campaign givers in the 2004 federal elections. Rather interesting, because four years ago it didn't even rank in the top 100. This, according to the Center for Responsive Politics.
"USA Today" reporting on this story saying that Wal-Mart's rise is significant because of the way it could impact congressional debates about health care, as well as some other hot button issues. Republican candidates are the big Wal-Mart winners in this year's election. They received 85 percent of the company's contributions, including those of its political action committee, employees and children of founder Sam Walton.
Interesting because Wal-Mart has a lot of lawsuits against it. There's a sexual discrimination lawsuit and some are saying that the growing criticism has tarnished the company's image and helps spur its lead in Washington. So a very interesting story here, Carol, once again coming from "USA Today."
COSTELLO: Quick look at the futures.
LEE: Things looking pretty flat this morning after a mixed session yesterday. The Dow ending higher by 11 points, the Nasdaq down 3, the S&P 500 up 4, as you can see.
Cisco Systems, one of the big companies reporting tonight after the close of trading. Investors will be paying attention to the sales number since that's going to provide a glimpse as to just how strong pick up in corporate spending for networking products and routers really is. We'll see.
COSTELLO: All right. Carrie Lee live from the Nasdaq market site.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
GDP>
