OPERATIONS

SRS Real Estate adds two to sales team

BY CSA STAFF

Addison, Texas-based SRS Real Estate Partners has brought in two investment property sales professionals to work on national single-tenant investment sales.

Sue Hightower, CCIM, and William T. Snow II, CCIM, will serve as VP and senior associate, respectively. Hightower comes to SRS from GE Capital Solutions where she served as VP investment property sales, specializing in sale-leaseback financing and maximizing net income through the sale of investment properties. Snow joins SRS from GE Capital Solutions as well. He worked for Hightower as an investment property sales representative for eight years.

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Glass retires from Wal-Mart board

BY CSA STAFF

BENTONVILLE, Ark. Former Wal-Mart president and CEO David Glass has chosen not to stand for re-election to the company’s board of directors at Wal-Mart’s annual shareholders’ meeting on June 5.

Glass joined Wal-Mart as EVP finance in 1976, was elected to its board a year later and named president in 1984. He succeeded the company’s founder Sam Walton as president and CEO in January 1988 and remained in that position until retiring in January 2000.

“I cannot overstate David’s contribution to our company,” said Rob Walton, chairman of the board of Wal-Mart Stores. “He established a new foundation for the company’s growth, and my dad considered him to be one of the finest retail talents he had ever met.”

Glass is credited with establishing the Wal-Mart’s first distribution center outside of Bentonville, Ark., and with computerized distribution, proving that the company’s geographic reach could be extended well beyond its home state. Glass was named vice chairman and CFO in 1982 and was instrumental in the creation of Sam’s Club a year later. He was named president and chief operating officer in 1984 and president and CEO in 1988. That year, Glass pioneered development of the first supercenter, which is now the company’s dominant retail format. Later, under Glass’ leadership, Wal-Mart became the nation’s largest retail company and made its first foray into international markets with an acquisition in Mexico.

After leaving Wal-Mart, Glass became owner of the Kansas City Royals professional baseball team and continued to serve on the Wal-Mart board, as chairman of the Executive Committee until 2006 and, most recently, as a member of the strategic planning and finance committee.

With Glass’ retirement, Wal-Mart’s board will consist of 15 directors, all of whom will stand for re-election to the board at Wal-Mart’s annual shareholders’ meeting on June 5.

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Michaels hosts Mother’s Day craft events

BY CSA STAFF

IRVING, Texas Michaels announced it will host a week of free Mother’s Day events May 2 through May 10.

The events, in all U.S. and Canada stores, will feature Michaels’ Top 5 Mother’s Day personalized projects: picture frames, decorated T-shirts, jewelry, cards and paper flower bouquets. Other workshops include keepsake corsages, keepsake plates and coupon books moms can redeem with her kids for chores and favors.

“We know families are very busy and these free workshops will give them an easy, convenient and inexpensive way to make Mother’s Day special on any budget,” said Michaels’ chief marketing officer Stuart Aitken. “Our customer survey showed that more than 90% of people said a thoughtful, handmade gift would be valued, and moms especially treasure gifts made for them by their children.”

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