OPERATIONS

The Home Depot Sends Record Number of Associates to Olympics

BY CSA STAFF

Atlanta, The Home Depot announced Wednesday that a record 33 associates will compete and represent TEAM USA in the 2006 Olympic Winter Games in Torino, Italy this February.

The Home Depot athletes will participate in such sports as luge, bobsled, freestyle skiing, speed, skating and curling.

The Home Depot sponsors the U.S. Olympic Committee’s Olympic Job Opportunities Program (OJOP), allowing Olympic athletes and hopefuls to work part-time for full-time compensation and benefits.

Since 1992, the company’s associates have accounted for nearly 11% of all medals won by Team USA. Today, more than 200 Olympic and Paralympic athletes are employed by the retailer.

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Ex-Wal-Mart Exec Pleads Guilty to Fraud

BY CSA STAFF

Fort Smith, Ark., Tom Coughlin, former vice chairman of Wal-Mart Stores, pleaded guilty to fraud and tax charges on Tuesday, admitting that he stole money, gift cards and merchandise from the world’s largest retailer.

Coughlin, 57, faces a maximum of 28 years in prison after pleading guilty to five counts of wire fraud and one count of filing a false tax return. He also could be fined $1.35 million. The judge ordered a presentencing report that will take up to 14 weeks to prepare. In documents filed with the court, Coughlin specifically admitted defrauding the company to pay for the care of his hunting dogs, lease a private hunting area, upgrade his pickup truck, buy liquor and a cooler, and receive $3,100 in cash.

The former executive said his guilty plea was in the best interest of his family, friends and community.

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Boscov’s Inc. Chairman, President Announce Retirement

BY CSA STAFF

New York City, Boscov’s Inc. chairman Edwin Lakin and president Albert Boscov announced their retirements Monday from the $1.1 billion retail company. Boscov, 76, is the son of Solomon Boscov, a Russian immigrant who founded the chain in 1911 by selling goods from a horse-drawn wagon.

Ken Lakin, the son of Edwin Lakin and nephew of Albert Boscov, who has been running the department stores as CEO, was named chairman and CEO of the corporation, the holding company for the department stores.

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