Those who have been reading this blog regularly will recall that Wal-Mart's 2007 lobbing budget shot up 60% from the previous year. If the first quarter of 2008 is any indication, Wal-Mart is on track to up their budget by about that much again. In just three months, Wal-Mart spent $2.2 million on lobbying. To put that number in perspective, Wal-Mart spend around $4 million in 2007, $2.5 million in 2006, and $1.6 million in 2005. Wal-Mart is on track to spend around $9 million in lobbying this year.
While this may seem like a drop in the bucket for a company that rakes in more than $11 billion in profits a year, it is significantly more than any other retailer. In fact, even it's 2005 levels were leaps and bounds ahead of its closest competitor, and on par with the National Retail Federation the largest trade association.
Here's the article from the Associated Press via Forbes:
Wal-Mart rang up $2.2M in 1Q government lobbyingWal-Mart Stores Inc., the world's largest retailer, spent $2.2 million in the first quarter to lobby on consumer product safety legislation and a host of other issues, according to a disclosure report.
In the last five months, the House and Senate have passed their versions of legislation that would toughen inspections of toys and other products made outside the United States, in response to millions of recalled products that have sickened children. Both bills increase penalties for companies that violate safety rules and increase funding for the Consumer Product Safety Commission.
Wal-Mart has said it has implemented certain safeguards of its own, including independent laboratory testing for products it sells. A top company lobbyist also said the company would follow whatever new federal rules are enacted.
The Bentonville, Ark.-based company also lobbied the federal government on immigration reform, climate change and renewable energy legislation, the farm bill and food safety, health, labor and corporate tax issues, digital television matters and a bill that would make organized retail crime a federal felony.
In the January-to-March period, Wal-Mart lobbied Congress, White House, U.S. Trade Representative's office, and several other departments, including Commerce, Energy, State and Health and Human Services, according to the report filed April 21 with the House clerk's office.
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Posted by Taylor - May 21, 2008 10:54 AM - In The News