. >>> >>> 50 years ago ago sam walton opened his first walmart.any celebrate with customers and shareholders? pat writes -- by reducing the socksto 99 cents. i would have thought they were already 99 cents already. >> john writes -- everything 50% off for a month, and for shareholders a 50% cut. cheerily not on shoulder. >> after turning 50, it managed the age where it can be hired as a greeter in the stores, which is a good one for a lot of people, we should point out. >> yeah. they've had great succeeds, but not in the storm until literally the last few months. >> since the bribery bottom -- >> interesting story, and congratulation to them. >>> when we come back, and construction spending data when "squawk on the street" comes right back. e calcium they take because they don't take it with food. switch to citracal maximum plus d. it's the only calcium supplement that can be taken with or without food. that's why my doctor recommends citracal maximum. it's all about absorption. tdd# 1-800-345-2550 we're hitting new highs. tdd# 1-800-345-2550 the

that's just a few heirs of sam walton equals an entire pollalation.bers. first of all i should let you know our median wage for the average american citizen fell by 38.8%. we fell significantly in that time the recession and all right? what happened to the waltons? they got even richer. now their wealth is up to $89.5 billion. and it's equivalent to the bottom 40% of the country. to give a sense of the scale that is 124 million americans that they have the same amount of money as. how do they do that? how do we get this coming into equality. the children of sam walton have given $200,000 to "restore our future," the mitt romney you had super

it was 50 years ago today that sam walton opened his first walmart.iggest retailer. so how does the stock match up with other 50-year-old companies some courtney ray dweagan has m. >> 2012 also marks big birthdays for other kohl's also turn 50 years old. sam walton opened the first walmart 50 years ago today and while they didn't go public overnight, they did eventually . target in 1967, the stock has split six times since. the retailer offered more than 50 cash dividends averaging four per year for the last decade while kohl's began in 1962, wasn't in-koornlted corporated . today there are more than 1100 stores. the world's largest retailer went public in 1970 offering shares for on $16.50 a piece. since then, shares have split 11 times. in march 1974, it declared its first cash dividend of a nickel and has increased every year since. so which retailer has returned the most since going public? remember each at different times. if you invested $1,000 in kohl's ipo, your stake would be worth more than $24,000 today. if you invested $1,000 in target at

sam walton and his wife plunked all of their money into the first "wal-mart discount city" store in rogers, arkansas, back in 1962. today, wal-mart has 2.2 million employees around the globe, over ten thousand stores, and it serves 27 countries. wal-mart stock has split ten times since going public in 1970. accounting for that and dividends, $1,000 invested back then, would be worth over $1.8 million now. that's nightly business report for monday, july 2. have a great evening everyone. we'll see you online at: www.nbr.com, and back here tomorrow night. "nightly business report" is brought to you by: captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org stocks fell on worries that china might... announcer: the new pbs for ipad app. you'll never know what you'll find. [dog barks] announcer: available now in the app store.

the bottom one hundred fifty million americans combined in fact the richest six members of the sam walton family heirs the wal-mart of fortune again all billionaires own 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 where the 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 but 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 productivit

if you are sam walton, in 1986, and you drew a power map of wal-mart and said let's allocate one other points to a bubble of power, there is one big bubble named sam. if one -- of sam wanted wal- mart to write it would go right and of the one it to go left, it would go left. if you step out of that unusual case of concentrated executive power of the business executive, we get what a friend of mine who ran a university said -- i have to deal with tenured faculty and that is leading with 8000 points of no. in a diffused power map and armond very rarely does one executive have enough power of to make things happen. a lot of people have not-power to stop things. therefore, the leadership becomes true leadership. it was some doubt that leadership only exists that people follow when they have the freedom not to follow. in that sense, a step up requirement from business to government might be a very big step. "mcdonnell and i have wrestled with an interesting question which is -- does humility and will apply to elected office? idon't know the answer but posed to u.s. a question. -- i pose it

he looked at sam walton and david glass. sam walton is a charismatic personality. david glass had a much more dour personality and wal-mart did exceptionally well in the day class era. we focus on being -- in the david glass era. we focus on the charismatic personalities. it is interesting. we cannot write interesting things about people who are good with their accounting statements. there is nothing interesting about it. interesting does not mean it is statistically differential. what we found was that there are lots of personalities involved in research. whether it is prismatic or not, just like whether you have blond hair or brown here. it is just and attributes, but not the essence of leadership. one last thing on earth kelleher. he is one of the great executives -- herb kelleher. he is one of the drake executives. they say has been held-one of the great executives -- they say he is one of the great executives. >> we operate in an environment where there are legitimate players in that environment who do not want to see us succeed. forces that do not want to cha

he's sam walton. i feel very strongly that you have to distinguish him from others.king about moderating june. but the call almost went out of control. as everybody panicked, all the analysts panicked and talked about how june was so bad for starbucks. and then facebook, quizical conference call. >> i'm saying it's a buy at $17. what's your number? >> i don't know how allow it could go. it's not aided by that strong -- merkel couldn't even get this to trade higher. she's the most powerful person on the earth right now. she might be able to budget to $24. >> jim, thanks a lot. i don't want to take all the trades away from the 9:00. but there's a lot of interesting stock-specific stuff to talk about. unclear if you can draw bigger conclusions from all this. >> jim will manage to do that. >>> when we come back, we'll get final thoughts from peter fischer from blackrock. stick around. s new york state. we built the first railway, the first trade route to the west, the greatest empires. then, some said, we lost our edge. well today, there's a new new york state. one that'

sam walton opened his first walmart on july 2nd, 1962 in rogers, walmart. company went public in 1970 with 3,000 shares priced at $16.50 per share. >> isn't that extraordinary? target is 50 years old, and k mart is 50 years old, and walmart. how phenomenal is the growth of walmart compared to -- >> all the others. >> yeah. >> and you look at places like individual stores around the country that are what walmart was and how one makes it and one doesn't. >> yeah. >> the great man theory, rather than the great times -- it takes one guy -- >> or one woman. >> or one woman. you know what i meant. the mid-atlantic states cleaning up from the storms. let's get the forecast from the weather channel's ryan gosnic. >> it's the holiday week, and a lot of people traveling out there, for today for the second day in july, it's going to be hot. that's typical there. and we will see 96 in atlanta. one change is we had the heat across the southeast and just to make things more miserable, we will throw in humidity as well. 96 degrees in atlanta. we will see 99 in raleigh and

if you are sam walton, in 1986, and you drew a power map of wal- mart a said let's allocate one other points to a bubble of power, there is one big bubble named sam. if one -- of sam wanted wal-mart to write it would go right and of the one it to go left, it would go left. if you step out of that unusual case of concentrated executive power of the business executive, we get what a friend of mine who ran a university said -- i have to deal with tenured faculty and that is leading with 8000 points of no. in a diffused power map and armond very rarely does one executive have enough power of to make things happen. a lot of people have not-power to stop things. therefore, the leadership becomes true leadership. it was some doubt that leadership only exists that people follow when they have the freedom not to follow. in that sense, a step up requirement from business to government might be a very big step. "mcdonnell and i have wrestled with an interesting question which is -- does humility and will apply to elected office? i don't know the answer but i posed to u.s. a question. -- i pose i

if you are sam walton, in 1986, and you drew a power map of wal-mart and said let's allocate one otherto a bubble of power, there is one big bubble named sam. if one -- of sam wanted wal- mart to write it would go right and of the one it to go left, it would go left. if you step out of that unusual case of concentrated executive power of the business executive, we get what a friend of mine who ran a university said -- i have to deal with tenured faculty and that is leading with 8000 points of no. in a diffused power map and armond very rarely does one executive have enough power of to make things happen. a lot of people have not-power to stop things. therefore, the leadership becomes true leadership. it was some doubt that leadership only exists that people follow when they have the freedom not to follow. in that sense, a step up requirement from business to government might be a very big step. "mcdonnell and i have wrestled with an interesting question which is -- does humility and will apply to elected office? i don't know the answer but i posed to u.s. a question. -- i pose it to yo

the children of sam walton have given $200,000 to "restore our