Caveat Vendidor – Let The Seller Beware (or… WalMart Bows Down to the Blog-o-sphere)
Okay, I’m borrowing a phrase from my good friend and colleague Mitch Axelrod. Caveat Vendidor is one of the tenets that underpin his philosophy “The New Game of Business”. He says that instead of the old game, where it was “caveat emptor” or “Let the buyer beware”, it’s now “caveat vendidor” or “let the SELLER beware”.
Case in point. Walmart.
The interesting thing about this David vs. Goliath WalMart story is that this is a case that Walmart won, and then an appeal actually went to the Supreme Court, who refused to hear it.
The Short Version: Walmart continued to proceed in it’s attempt to recoup $470k in medical costs for a now-brain damaged former employee because it’s policy allows for that if the person gets a settlement of any worth. However, in this case, the settlement ended up funding a trust to take care of this former employee who will never be able to work again.
So…somehow this came to light and one blog post, begat another post (you know the old shampoo commercial “she told one, and then she told one”?) begat a call for a boycott against and before you know it, Walmart bows down to the power of the citizen journalist.
To repeat: Walmart won this case. They let the family appeal it all the way to the Supreme Court and then bowed down to the bloggers! (See http://walmartwatch.com/)
And to think, I found this story on CNN, through following a Reuters Oddly Enough text ad link in my Gmail inbox “Children Find Woman’s Head on Beach” story (You know, I just can’t resist the power of a good headline sometimes- no pun intended!).
And now, for the rest of the story…
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