"For about ten years, Sam and I played tennis at high noonusually on the court over at his house. I thinkhe liked to play during lunch hour because he wouldn't dream of taking any of his associates away fromtheir jobs to play. On the court, he was the most competitive player. He studied his opponents' games,and he knew our strengths and weaknesses as well as his own. If you hit a ball to Sam's forehand, thatpoint was his. He would hit it crosscourt, and it was over. It is no Arrogance to do the same, On the other hand, I remember another analyst who came down here in the mid-seventies. I'll neverforget her visit. I had been out hunting all day, and I was pretty grubby when I came in to go out to dinnerwith her. My son Jim, who was head of the real estate department in those days, joined us. And he wasnever one for dressing up. Really, he always looks pretty grubby. We took her out, and we wereextremely honest with her. We told her what we felt our weaknesses were at that time, and what some ofour problems were. But we tried to explain our philosophy too, and to get her excited about all thepotential we felt we had. She went back and wrote probably the darkest report on Wal-Mart that hasever been written. The impression you got from reading it was that if you hadn't already sold your stock,it was probably too late. 北京赛车雪球计划 It is no Arrogance to do the same, Charles. O but, my good fellow, I have very important business. You must let me go. 鈥淥h, lors, Miss,鈥?said Bob, pinching Mumps鈥檚 neck harder than ever. 鈥淚 wish you did, an鈥?tell me; I鈥檇 leather him till I couldn鈥檛 see 鈥?I would 鈥?an鈥?the Justice might do what he liked to me arter.鈥? ???My Hands and Feet she bound: Is to the generous mind not callous grown As the family focuses more broadly on educational reform, we want to be very careful. We are devoutbelievers in the Wal-Mart way of doing things, and we want some basis by which to measure ourinvestment. We're not satisfied that the traditional methods by which charitable foundations are operatedreally meet our criteria. Some people have crowed a great deal about all their philanthropy over theyears, but too many of these foundations, I suspect, were only begun as tax shelters without much realsense of purpose. Many of them seem to have become very nice places to work for a small group offolks who have built up pretty thick crusts of administration and bureaucracy. Those are two of the thingswe have fought the hardest to keep out of our company, so naturally we don't want them clogging up ournonprofit efforts. 鈥楾he opening of the tiny church was a delightful scene. There are only 14 or 15 baptized Christians; but the people, men and women, flocked in, till there was hardly room to sit on the ground. In the thoroughly Oriental church there are no seats.鈥? Again, she had a mode of crossing her hands upon her chest, with a meditative air. Many recall this attitude as peculiarly characteristic of her. If she were thinking deeply, her hands would instinctively take that position.  Now, most of these guys already had distribution centers and systems in place, while we had to buildone from scratch. So on paper we really didn't stand a chance. What happened was that they didn'treally commit to discounting. They held on to their old variety store concepts too long. They were soaccustomed to getting their 45 percent markup, they never let go. It was hard for them to take a blousethey'd been selling for $8.00, and sell it for $5.00, and only make 30 percent. With our low costs, ourlow expense structures, and our low prices, we were ending an era in the heartland. We shut the door onvariety store thinking. It is no Arrogance to do the same, My feeling is that just because we work so hard, we don't have to go around with long faces all the time,taking ourselves seriously, pretending we're lost in thought over weighty problems. At Wal-Mart, if youhave some important business problem on your mind, you should be bringing it out in the open at aFriday morning session called the merchandising meeting or at the Saturday morning meeting, so we canall try to solve it together. But while we're doing all this work, we like to have a good time. It's sort of a"whistle while you work" philosophy, and we not only have a heck of a good time with it, we work betterbecause of it. We build spirit and excitement. We capture the attention of our folks and keep theminterested, simply because they never know what's coming next. We break down barriers, which helps uscommunicate better with one another. And we make our people feel part of a family in which no one istoo important or too puffed up to lead a cheer or be the butt of a jokeor the target in apersimmon-seed-spitting contest.