james cash pennec was sam walton.e trashes the customer and where are they keeping the same merchandising director on board but then trashing who the customers were and trying to bring them in with these weird confusing promotional gimmicks to the same old products and then thinking, what are you going to attract new customers with. in the beginning, taking charge process, you don't do much of anything. you make a few personnel moves. sit back and watch. then you immerse yourself. see how people respond. do reshaping a little while later. this is a cash cow he inherited. toys "r" us, john isler said, refers to the jcpenney situation here now. somebody who basically had a cash cow and turned it into h hamburg hamburger. there's nothing being produced here now. >> you're a tough grader. we'll give your performance an "a" today and hope to have you bark soon. >> thank you. >>> when does ron johnson come on and do this show? that's really the big question. >> he was on cnbc recently with courtney reagan. he is -- >> "fast

but it's interesting that in a museum or for some author mental you can find memoirs signed by sam walton their international priorities and number one priority as he mentioned was russia and india and china was laure one day i am absolutely sure what should be in russia but i don't think it will be in the short term perspective like one or two years will you do a priority you mean south. left a member never never trying to get that or don't do that again was this memo about their priorities where company should be probably russia is not just what just in europe comes from market but also potentially important place to source product so i suppose we should be able rate and units of to source products from russia both non-food and food which you can sell it around the world in our stores well let's take a look at what exactly makes russia's retail industry so special and reported by spotlights unionism in the. capital as we came to russia bringing two shelves hyperinflation wage duis and of a gun to standing a what to do by the us open borders and in one nine hundred ninety two presidentia

our culture is on core values make a bet to sam walton. bummer croucher gets talked about. we take a run and explain my perspective. there are four core values. we expect the individual can't strive for excellence and serve on a foundation of integrity. we think about why values mattered our business. how do you want to be treated by an associate of one of our stores? you want to respected, have a service mentality and our founders, sam walton understood that if he didn't have those behaviors come associates wouldn't have those behaviors that is true for the leaders of the company today. so what i can tell you for my position is our culture is strong. we have a very strong organizational culture. it is so strong today and were making it even stronger, reaching 2.2 million people requires repetition. it requires work and were focused on that. as i travel around the world am i spend a lot of time talking about organizational culture. so will there be issues that pop up? i'm sure they will. how we handled them is that i'm focused on. >> a word about wal-mart culture. a chance,

in fact the richest six members of the sam walton family heirs the wal-mart fortune again all billionaireswn more wealth than the bottom thirty percent of americans combined according to a recent study from the federal reserve median net worth for middle class families dropped by nearly forty percent from two thousand and seven to twenty two that's equal to wiping out eight eighteen years of savings for the average middle class family and much of that money went to the richest four hundred americans all billionaires who collectively own one point three trillion dollars worth of wealth the issue here isn't punishing the wealthy the issue is acknowledging that billionaires uniquely have sucked up so much wealth out of our economy that the rest of us are drowning what's worse is the rest of us are working harder and harder productivity has steadily increased post world war two and it used to be that income gains increased right alongside it around the time of ronald reagan productivity and wages began to diverge while productivity increased wages stagnated that's because all the extra profits

our culture is on core values make a bet to sam walton. bummer croucher gets talked about. we take a run and explain my perspective. there are four core values. we expect the individual can't strive for excellence and serve on a foundation of integrity. we think about why values mattered our business. how do you want to be treated by an associate of one of our stores? you want to respected, have a service mentality and our founders, sam walton understood that if he didn't have those behaviors come associates wouldn't have those behaviors that is true for the leaders of the company today. so what i can tell you for my position is our culture is strong. we have a very strong organizational culture. it is so strong today and were making it even stronger, reaching 2.2 million people requires repetition. it requires work and were focused on that. as i travel around the world am i spend a lot of time talking about organizational culture. so will there be issues that pop up? i'm sure they will. how we handled them is that i'm focused on. >> a word about wal-mart culture. a chance,