Last Saturday, the Washington Post, on page 2 of its business section had two small articles on Walmart. The first said that Walmart was selling its 85 stores in Germany and pulling out of the country. Too bad, you say, that Walmart failed; must be tough on them. The second article said that Walmart's stock rose 93 cents on the announcement of its decision to close 85 stores in Germany. So, the stores were a drain and the company is better off without them. Congratulations to Walmart. Depends which article you read. Spin, spin, spin.
Believe it or not, the same page of the same paper on the same day had two small articles on Chevron. The first article said that Chevron's profit rose 18% in the second quarter based on results a year earlier and that this was their largest profit in 127 years of business. Way to go, Chevron. The second article said that Chevron stock went down $1.68 a share, because the 18% rise was below industry expectations.
I don't know if it was an accident that these articles appeared the way they did, or if it was deliberate. But it certainly teaches a lesson.
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