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February 3, 2003

Kmart execs' trickery rivals that of Enron's

  • Recent allegations of deceiving vendors and lavishing themselves with perks suggest the company faces an even tougher challenge.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK -- It wasn't enough that Kmart had Wal-Mart as its biggest threat, that it was struggling to turn around its business or that the economy had weakened.

    Kmart's former executives took a bad situation and made it much worse by allegedly buying unnecessary inventory, deceiving vendors and lavishing themselves with perks.


     
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