Walmart CEO Mike Duke Outlines Strategies for Building the 'Next Generation Walmart'

PRNewswire -- Wal-Mart Stores, Inc. President and CEO Mike Duke laid out four strategies for building the Next Generation Walmart at the company's annual shareholders meeting today. He said Walmart is poised to deliver on Sam Walton's vision of giving "the world an opportunity to see what it's like to save and have a better life." The strategies are:

1. Become a truly global company;
2. Understand the business challenges that retailers will face and solve
them;
3. Play an even bigger leadership role on social issues that matter to our
customers;
4. Keep our culture strong everywhere.



"Our results demonstrate the underlying strength of our business and our strategies of growth, leverage and returns," said Duke. "But as proud as we are of our recent performance, future success is never guaranteed. I want all of you to be able to say that at this moment Walmart committed to being a truly global company and began building the Next Generation Walmart."

In order to be a more global company, Duke discussed the need to serve customers as a local store, share best practices and leverage Walmart's global supply chain. He also stressed the importance of talent: "Just over the next five years, we'll create 500,000 jobs around the world. We need to recruit the best talent and identify the best talent in our ranks. Then we need to develop leaders and help them become global citizens."

Duke highlighted the global challenges that retail will face over the next 20 years, including the impact of technology on shopping habits and, in particular, on pricing. "Retail will soon enter an era of price transparency. And what kind of retailer wins in a time of price transparency? You got it, the price leader," Duke said. "We need to really churn the productivity loop and deliver on our Every Day Low Price business model everywhere. Walmart must widen the gap here. We will win on price leadership, and we will win big."

Duke also committed the company to continued leadership on social issues, saying, "Over the last few years, we've built a model for making a big difference on big issues. We are well into this journey now. No one can doubt our sincerity. No one can question our credibility. But as Sam Walton knew, leadership leads to higher expectations. And you know what? That's fine by me. So we must raise the bar. We must continue to meet the social obligations and expectations ahead. Walmart will never look back."

With the company's plans for future growth, Duke sees Walmart's culture as a competitive advantage and one that needs to stay strong globally. "Our culture is who we are. It isn't just words written on a wall at the Home Office or stapled to the bulletin board in the back room of a store. It makes us special. It sets us apart from the competition. And it appeals to people everywhere. So wherever we go and whatever changes we may make, we must keep our culture strong," said Duke. "I truly believe the retailer that respects individuals, that puts customers first, that strives for excellence, that is trusted will win the future."

Earlier today, the company announced that its Board of Directors approved a new repurchase program that authorizes the company to repurchase $15 billion of its shares. This program replaces the previous $15 billion program, which was announced June 5, 2009, and had approximately $4.7 billion of remaining authorization. Under the program, repurchased shares are constructively retired and returned to unissued status.

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Southern Company Announces Quarterly Dividend

/PRNewswire-FirstCall/ -- Southern Company today announced a regular quarterly dividend of 42 cents per share on the company's common stock, payable Dec. 6, 2008, to shareholders of record Nov. 3, 2008.

This marks the 244th consecutive quarter -- dating back to 1948 -- that Southern Company will have paid a dividend to its shareholders.

With 4.4 million customers and more than 42,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE:SO) is the premier energy company serving the Southeast. A leading U.S. producer of electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and retail electric prices that are significantly below the national average. Southern Company has been listed the top ranking U.S. electric service provider in customer satisfaction for nine consecutive years by the American Customer Satisfaction Index (ACSI). Visit our Web site at www.southerncompany.com.

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Triarc and Wendy’s Complete Merger Transaction

BUSINESS WIRE)--Triarc Companies, Inc. (NYSE: TRY; TRY.B), the parent company of Arby’s Restaurant Group, Inc., which is the franchisor of the Arby’s® restaurant system, and Wendy's International, Inc. (NYSE: WEN), announced September 29, 2008. that they have completed their merger transaction. Effective immediately, the combined company will be named Wendy’s/Arby’s Group, Inc.

Roland C. Smith, President and Chief Executive Officer of Wendy’s/Arby’s Group, said: “I am delighted to announce the completion of this merger, which creates a world-class company with the strength, scale and expertise necessary to thrive in a competitive restaurant environment. As one company, we are well-positioned to deliver long-term value to our stockholders through enhanced operational efficiencies, improved product offerings, shared services and strong human capital. We have worked together diligently to close this transaction over the past several months, and will push forward with that same intensity.”

Under the merger agreement, Wendy’s shareholders received 4.25 shares of Triarc’s Class A common stock for each common share of Wendy’s. In addition, each outstanding share of Triarc Class B common stock, Series 1, was converted into one share of Triarc Class A common stock, resulting in a post-merger company with a single class of common stock. Commencing on Tuesday, September 30, 2008, the combined company will trade under the symbol “WEN” on the New York Stock Exchange. In addition, the company will unveil a new corporate web site at www.wendysarbys.com concurrently with the opening of the stock market on that date.

Also effective today, the Company's Board of Directors was expanded from 11 to 12 members. As previously announced, Russell V. Umphenour, Jr. has resigned and two former Wendy’s directors, Janet Hill and J. Randolph Lewis, have been appointed to the Board of Directors. Additionally, Roland C. Smith has assumed the position of President and Chief Executive Officer of Wendy’s/Arby’s Group and Chief Executive Officer of Wendy’s, Thomas A. Garrett has assumed the role of President and Chief Executive Officer of Arby’s, Michael I. Lippert has assumed the role of Chief Operating Officer of Arby’s, J. David Karam has assumed the position of President of Wendy’s, Stephen D. Farrar has assumed the position of Chief Operating Officer of Wendy’s and Kenneth C. Calwell has assumed the position of Chief Marketing Officer of Wendy’s.

Nelson Peltz, non-executive Chairman of the Board of Directors of Wendy’s/Arby’s Group, said: "Our Board is very pleased to welcome Janet Hill and Randy Lewis and we look forward to working with them as we build our new restaurant company. We would also like to thank Russ Umphenour for his valuable contributions to the Triarc Board over the years. We wish him all the best in his future endeavors."

Wendy’s/Arby’s Group plans to hold a conference call for analysts and investors in early November to discuss third quarter financial results, as well as to provide an update on the progress of the combined company's merger integration activities.

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Lufthansa and JetBlue Complete Stock Purchase Transaction

(PRIME NEWSWIRE) -- JetBlue Airways Corporation (Nasdaq:JBLU) and Deutsche Lufthansa AG (Xetra:WKN823212) today completed their stock purchase agreement transaction in which Lufthansa now holds a 19 percent stake in JetBlue.

With the conclusion of the financial transaction, Lufthansa and JetBlue will begin exploring innovative commercial arrangements designed to benefit both airlines and their customers.
New York-based JetBlue Airways has created a new airline category based on value, service and style. Known for its award-winning service and free TV as much as its low fares, JetBlue is now pleased to offer customers the most legroom throughout coach (based on average fleet-wide seat pitch for U.S. airlines). JetBlue introduced complimentary in-flight e-mail and instant messaging services on aircraft "BetaBlue," a first among U.S. domestic airlines. JetBlue is also America's first and only airline to offer its own Customer Bill of Rights, with meaningful and specific compensation for customers inconvenienced by service disruptions within JetBlue's control. Visit www.jetblue.com/promise for details. JetBlue serves 53 cities with 550 daily flights. With JetBlue, all seats are assigned, all travel is ticketless, all fares are one-way, and an overnight stay is never required. For information or reservations call 1-800-JETBLUE (1-800-538-2583) or visit www.jetblue.com.

DIRECTV(r) service is not available on flights outside the continental United States; however, where applicable FOX InFlight(tm) is offered complimentary on these routes. FOX InFlight(tm) is a trademark of Twentieth Century Fox Film Corporation. JetBlue's in-flight entertainment service is provided by LiveTV, a wholly owned subsidiary of JetBlue.

Delta Air Lines’ Board of Directors Announces Annual Meeting Date

Living in Atlanta it's hard not to either be a Delta baby or to be friends with a Delta baby. I grew up in a Delta Air Lines home. Delta employees were part of our extended family. The changes are Delta mirror the changes that have occurred across the country in businesses. Yes, September 11th impacted the airline industry mightily. However, all it did was expedite what was already written in the tea leaves. Despite all the ups and downs, there will always be a soft spot in my psyche for this particular airline. I hope they do well and I'll continue to watch their rise from the coals (didn't quite hit the ash stage) carefully. - TBB

Delta Air Lines’ (NYSE: DAL) Board of Directors has set Delta’s 2008 annual meeting of shareowners for June 3, in New York City. The meeting will be held at 8:30 a.m. EDT in the Auditorium at AXA Equitable Center, 787 Seventh Ave., New York.

The record date for determining shareowners entitled to notice of, and to vote at, the annual meeting will be the close of business on April 18, 2008.

To be considered for inclusion in Delta’s proxy statement for the 2008 annual meeting, shareowner proposals must be submitted in writing and received by Delta’s Corporate Secretary no later than 5 p.m. EST, on Jan. 11, 2008, at the following address: Corporate Secretary; Delta Air Lines, Inc.; Dept. No. 981; Post Office Box 20574; Atlanta, Georgia 30320.

Delta Air Lines operates service to more worldwide destinations than any airline with Delta and Delta Connection flights to 324 destinations in 58 countries. Since 2005, Delta has added more international capacity than any other major U.S. airline and is the leader across the Atlantic with flights to 36 trans-Atlantic markets. To Latin America and the Caribbean, Delta offers more than 650 weekly flights to 61 destinations. Delta's marketing alliances also allow customers to earn and redeem SkyMiles on nearly 15,000 flights offered by SkyTeam and other partners. Delta is a founding member of SkyTeam, a global airline alliance that provides customers with extensive worldwide destinations, flights and services. Including its SkyTeam and worldwide codeshare partners, Delta offers flights to 489 worldwide destinations in 106 countries. Customers can check in for flights, print boarding passes and check flight status at delta.com.