business news in context, analysis with attitude

•  Bloomberg reports that the coronavirus has forced Walmart to cancel its usual celebrity-laden annual meeting in Northwest Arkansas, at which it celebrates the past year and preaches the Walmart gospel in grand scale.

According to the story, "The Covid-19 pandemic forced Walmart to pivot to a virtual gathering on June 3. This wouldn’t be a big deal for most corporations, but then most corporations don’t invite baseball legend Joe DiMaggio, pop star Taylor Swift or Bill Clinton to their annual meetings. The event — first held at a coffee shop in 1971 and staged since 1994 at the 19,000-seat Bud Walton arena at the University of Arkansas — has never been canceled. Local businesses, already reeling from state-imposed restrictions on their operations, will now have to make do without the influx of visitors they’ve come to rely on this time each year."