Pennsylvania Proposes That Wal-Mart Fork Over Health-Care Dollars
Harrisburg, Pa., Although Pennsylvania lawmakers say they are appreciative of the jobs Wal-Mart has brought to the area, critics are saying the jobs have come with a hidden cost: an unusually high percentage of Wal-Mart workers do not have company-paid health insurance and are relying on taxpayer-subsidized care.
To gather data and help combat the problem, lawmakers have proposed legislation that requires companies with 20 or more employees to issue annual reports stating how many of them are receiving Medical Assistance. Sponsors of the bill say it is the first step toward mandating that large companies pay their fair share of health costs.
In response to this and other states’ similar efforts, Wal-Mart has responded that it is being unfairly targeted. “They are nothing more than a political attempt by organized labor to make Wal-Mart less competitive in certain states,” said a Wal-Mart spokesman.
Icahn Discloses Stakes in Rite Aid, HP
Washington, Active financier Carl Icahn today revealed that he now holds stakes in Rite Aid, Siebel Systems and Hewlett-Packard. The billionaire investor, who made headlines this week after he and two allies successfully replaced three Blockbuster board members, also reported that he no longer holds stakes in insurance broker Aon Corp and paper-product company Temple-Inland Inc. Icahn disclosed his stakeholdings today as required by the Securities and Exchange Commission.
The Pantry Completes Acquisitions
Sanford, N.C., The Pantry, Inc. today said it has completed the acquisition of three convenience stores and one development site in Charleston, S.C.
“These stores will add to our existing presence of approximately 50 stores in the attractive Charleston market,” said Peter J. Sodini, the Pantry’s president and CEO, in a statement. “We will immediately convert the stores to our Kangaroo Express banner with one store offering BP gas and the other two stores offering our private-label Kangaroo gas.”