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Wal-Mart to NYC: Drop dead

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Wal-Mart appears to be abandoning plans to open a New York City-area location. H. Lee Scott Jr., the chief executive of the country’s largest retailer, said the city is too expensive to make sense given Wal-Mart’s business model, and that negotiating with New York’s entrenched union culture would be too difficult. “I don’t care if we are ever here,” said Scott. Union leaders greeted the news with good cheer. “We have great supermarkets and great retail outlets in New York,” said Ed Ott, executive director of the New York City Central Labor Council. “We don’t need Wal-Mart.” more [NYT]

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