PR Pro Collects Very Big Bucks From Wal-Mart
Insiders have been asking what it took for Wal-Mart to lure Leslie Dach away from Edelman, a powerful public-relations operation that he cochaired with former Ronald Reagan aide Michael Deaver.
By
Kim Eisler
Published Sunday, October 01, 2006
Dach, 52, has been close-mouthed about his deal with the nation’s largest retailer. But documents filed with the Securities and Exchange Commission provide some of the answers. Wal-Mart has given Dach 67,522 shares of stock, which are worth more than $3 million. Dach gets options to buy another 168,805 shares at a price of $44.43. For every dollar that Wal-Mart stock goes up, Dach will make an additional $168,805; in mid-September the stock was at $47. Wal-Mart has been beset by a host of public-relations problems—an unflattering documentary, attacks by labor unions, politically incorrect comments by company spokesman Andrew Young, and lawsuits alleging that the Arkansas-based company discriminates against women and minorities. Dach helped Edelman create political-style TV ads for Wal-Mart, claiming that the stores save the average household $2,300 a year. Wal-Mart was so impressed with Dach’s enterprise that they asked him to come on full-time. Wal-Mart is trading at a near five-year-low stock price, and company executives believe Dach, a National Audubon Society board member and former Bill Clinton media adviser, has the keys to unlock the stock value of the nation’s best-known store. Dach says his family won’t be moving to Bentonville, but he has stocked an apartment there with artisan bread, lox, and fresh fruit from a local Wal-Mart.
|
|
He’s a throwback to the Redskins glory days of Super Bowls and fun-loving Hogs. Married to a former cheerleader and pinup, he’s also an Internet sensation who posts the most private parts of his life—even his private parts—online.
more
We asked Washingtonian readers to tell us all about their favorite restaurants, celebrities, nightlife, and more. Here are the results. For more of the best of Washington, pick up our July issue, on stands now.
more
Hundreds of women and a ’60s theme? This year’s Knock Out gala was the place for sequins, bouffants, and lots of Dolman sleeves.
more
Sonny Jurgensen, Joe Theismann, and Jason Campbell spend an awkward evening together analyzing the Redskins season.
more
|