Always Suspicious, Always

Associated Press reports that Wal-Mart posted its first profit drop in a decade "as the world's largest retailer paid a hefty price for closing its loss-making German stores while high energy prices hit its sales and costs at home."

Proving what we've been saying in (yes, jaded and cynical) response to all the warm 'n fuzzy Wal-Mart "goes green" stories lately: Wal-Mart is just looking for a PR star to hitch its wagon to in order to buoy its stock in the face of an inevitably declining business model. Wal-Mart grew and thrived on cheap oil. It will wither and collapse under $100-a-barrel pricing.

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