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In Sam We Trust: The Untold Story of Sam Walton and Wal-Mart, the World's Most Powerful Retailer Paperback – March 21, 2000
In Sam We Trust is the true, unvarnished story of the Wal-Mart colossus at work, and of how its remarkable success illustrates the glory as well as the underbelly of American capitalism. A flinty workaholic obsessed with his stores at the expense of his personal life, Walton established the ruthlessly efficient strategy that enabled Wal-Mart to surpass Sears, outsmart Kmart, and crush small-town mom-and-pop stores. Bob Ortega, a veteran reporter who covered Wal-Mart extensively for The Wall Street Journal, has written an illuminating and authoritative account of the world's most powerful store, and of how Sam Walton's way of thinking is transforming America's -- and the world's -- business practices, workplaces, and communities.
- Print length448 pages
- LanguageEnglish
- PublisherThree Rivers Press
- Publication dateMarch 21, 2000
- Dimensions5.5 x 1.25 x 8 inches
- ISBN-100812932978
- ISBN-13978-0812932973
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Editorial Reviews
Review
-- Chicago Tribune
"An insightful, judicious, and immensely illuminating book,
one of the best on retailing."
-- Worth
From the Inside Flap
In Sam We Trust is the true, unvarnished story of the Wal-Mart colossus at work, and of how its remarkable success illustrates the glory as well as the underbelly of American capitalism. A flinty workaholic obsessed with his stores at the expense of his personal life, Walton established the ruthlessly efficient strategy that enabled Wal-Mart to surpass Sears, outsmart Kmart, and crush small-town mom-and-p
From the Back Cover
-- Chicago Tribune
"An insightful, judicious, and immensely illuminating book,
one of the best on retailing."
-- Worth
About the Author
Product details
- Publisher : Three Rivers Press; Reprint edition (March 21, 2000)
- Language : English
- Paperback : 448 pages
- ISBN-10 : 0812932978
- ISBN-13 : 978-0812932973
- Item Weight : 12.8 ounces
- Dimensions : 5.5 x 1.25 x 8 inches
- Best Sellers Rank: #2,664,144 in Books (See Top 100 in Books)
- #3,441 in Company Business Profiles (Books)
- #6,742 in Biographies of Business & Industrial Professionals
- #23,922 in Leadership & Motivation
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Ortega's book, IN SAM WE TRUST: The Untold Story Of Sam Walton And How Wal-Mart Is Devouring America (1998) was widely reviewed as hostile to Wal-Mart and those who support it, but one cannot help but notice an overall tone of admiration in Ortega's book at the success of Wal-Mart's well documented rapacity and avarice, and the fact that its bottom line big dollar success was only possible because it's enormous customer base have voted with their feet and their pocket books to keep it going and growing.
Author Bob Ortega is a Princeton grad later schooled at the Columbia U. Journalism School, well known along with the U. of Missouri Journalism School as the most prestigious in America. He's also a WALL STREET JOURNAL employee. For all of the pretentions IN SAM WE TRUST (1998) makes of being a true muck-raking tome, the author's WALL STREET JOURNAL mentality and morality shines through to any who examine his book closely.
When all is said and done, Ortega has written a book which admires Wal-Mart, and is likely to do that organization no harm whatever. His provided backgrounder information about the nasty and unpleasant side of Wal-Mart doesn't affect the bottom-line, to use a phrase near and dear to Wal-Mart management, and to Ortega's mentor newspaper, the WALL STREET JOURNAL.
The book reminds me of the extravagant PATTON (1969) movie which appeared in the middle of the War In Vietnam, and told the story of General George S. Patton, Jr. and his activities during World War II. The expensive movie (for which the main actor won an Academy Award) provided very critical material about Gen. Patton, and showed his failures and personal problems in some detail. But, all in all, it was a hagiography which was said to have been screened often in the Nixon White House, and which the pro-war people of the Vietnam War era loved. For all its criticism, the movie admired Patton, and was a PR piece for pushy generals, the U.S. Army, and war as a catagory of human activity.
It's doubtful that Wal-Mart bigshots at company HQ in Bentonville, Arkansas lost any sleep over this book. Wal-Mart profits were probably boosted as a result of the book. After all, it provided more publicity about Wal-Mart. As movie star Erol Flynn was supposed to have said often, "I don't care what the newspapers say about me...just make sure they spell my name right."
All this said, the book DOES reveal many interesting facts about Wal-Mart and by reflection, about America these days.
Wal-Mart's status as America's largest private employer is discussed. By 1997, Wal-Mart had long since passed General Motors Corp. to achieve this status. The kind of work offered by Wal-Mart and other "big-box" type discount and "catagory killer" chains... had REPLACED manufacturing to become the dominant new blue-collar job in the United States. This kind of job offered far lower wages, fewer benefits, and less job security than the old manufacturing type job it replaced.
Ortega says the WALL STREET JOURNAL compared GM jobs with Wal-Mart jobs in 1997 and noted that the average GM wage was $19. per hour; at Wal-Mart $7.50 per hour. With benefits included, GM compensation was worth $44. per hour; Wal-Mart's (for those who get benefits) was $10. per hour. Ortega rightfully concludes (but isn't necessarily unhappy about the fact that) Wal-Mart has become a mirror for the new American workplace where Federal employment figures showed that more than 30 percent of American workers hold only part-time or temporary jobs.
It's safe to conclude that when the new #1 employer in America offers less than 25% of income provided by the old #1 employer, Americans as a group are getting poorer.
IN SAM WE TRUST (1998) states that when a new Wal-Mart store arrives in a community, 75% of its profits are drawn from trade previously enjoyed by small, often "Ma and Pa" stores many of which cannot stand against Wal-Mart competition and soon close down. Author Orgega refers to this as "strip-mining" local commerce previously but no longer owned and operated locally, and uniquely responsive to local needs and pressures.
If Wal-Mart ever become history, and its services become unavailable in the 3000 plus locations where it now operates, the loss of the centrally controlled organization would impact the lives of many, many Americans. The re-establishment of the many small business Wal-Mart bull-dozed into oblivion is not likely to provide relief to these Americans.
All this is worth thinking about, and for that reason, Bob Ortega's book IN SAM WE TRUST: The Untold Story of Sam Walton and How Wal-Mart Is Devouring American (1998) is worth buying and re-reading often.
Which is what somehow seems to have gotten lost along the way. Along with the "Buy American" focus Sam had. He is gone - and it is really is no longer a family run business essentially. Much the pity. But it is the story of how you build a brand and a business and that part is what is so well told by Mr. Ortega.
By the way, John worked out of Lincoln, Nebraska and not Omaha. Just a small correction there.





