BUSINESS

NY TIMES: Is Wal-Mart good for America?


The annual celebration of the American consumer economy - the holiday
shopping season - is just underway, and Wal-Mart, the juggernaut of
retailing, already seems to have claimed its first victim. The corporate
owner of F.A.O. Schwarz stores said last week that it would file for
bankruptcy. Bemoaning the news, analysts explained that the F.A.O.
Schwarz formula of selling premium-priced toys in sumptuous surroundings could
not withstand the steady advance of Wal-Mart into the toy business. "Will
Wal-Mart Steal Christmas?" asked a Time magazine headline