Wal-Mart’s appearance for the third time in a row at the top of the Fortune 500 list of largest U.S. companies would seem to confirm what many have long suspected: This retailing behemoth is all-powerful and unstoppable. But industry experts and others are beginning to scrutinize some of Wal-Mart’s latest initiatives and its critics point to recent complaints about the company’s labor practices and hardball negotiating tactics. Others warn that Wal-Mart is not invulnerable to the same trends that have forced at least 25 major chain stores to close their doors since 1980.
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