News

NRF Urges Tax Veto

BY CSA STAFF

Washington, D.C., The National Retail Federation (NRF) today asked President George W. Bush to reject a tax reform panel’s recommendation that would end the corporate tax deduction for imported goods, saying the move could cost consumers more than $200 billion.

“This proposal would result in one of the largest tax increases on American consumers in recent memory, and would be devastating for our nation’s economy,” NRF president Tracy Mullin said. “A large percentage of consumer goods sold in this country are imported from abroad, and subjecting those goods to the corporate income tax would drive up consumer prices dramatically. A tax increase of this size could send consumer spending into a tailspin, taking all of the jobs associated with those goods along with it.”

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Whole Foods Creates Foundation for Third-World Entrepreneurs

BY CSA STAFF

Austin, Texas, Whole Foods Market announced the establishment of the Whole Planet Foundation, an independent non-profit that will fund collateral-free micro-loans as small as $100 to female entrepreneurs in developing countries where the company sources product.

“As we’ve done business around the world, we have increasingly felt the responsibility to help those communities where we’re trading,” said John Mackey, chairman and CEO, Whole Foods, in a release.

Women were chosen specifically to receive the loans, Whole Foods explained in a release, because they statistically have the greatest impact on Third World countries when given access to money for starting businesses.

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OPERATIONS

Sears Losing Chief Merchant; Names New Executives

BY CSA STAFF

Hoffman Estates, Ill., Sears Holdings Corp. announced on Wednesday that its president and chief merchant, Luis Padilla, is leaving the company for undisclosed reasons, effective Oct. 31, 2005. A search for his replacement is underway.

Also on Wednesday, Sears Holdings announced it was bringing in a pair of outside executives to lead marketing and strategy. Reflecting his strong hands-on role in the company, the individuals will report to chairman Edward Lampert rather than CEO Aylwin Lewis.

Maureen McGuire will assume the newly-created position of executive VP and chief marketing officer for Sears Holdings. She joins Sears from IBM, where she worked for 30 years, most of them as VP, strategy and marketing, worldwide systems and technology group.

“These two experienced and highly effective executives will bring Sears Holdings a new level of creativity and focus on marketing and our customer relationships,” said Lampert. “I particularly value the winning attitude and record of success that they will bring to Sears Holdings, and I expect them to help lead the on-going change in Sears’ culture.”

Corwin Yulinsky will join Sears Holdings as executive VP, customer strategy and insight. He joins Sears from McKinsey and Co., where he was a leader of the financial institutions practice.

In other announcements, David McCreight was formally named president of Lands’ End. He has been acting as interim president since Aug. 4, 2005. He joined Lands’ End in 2003 as chief merchant.

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