So what the hell was she doing on the Wal-Mart board? According to press accounts at the time, she was a show horse at the company's annual meetings when founder Sam Walton bused in cheering throngs to celebrate his non-union empire, which is headquartered in Arkansas, one of the country's poorest states.
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Was Hillary the voice of conscience on the board for American and foreign workers? Contemporary accounts make no mention of that. They do describe her as a "corporate litigator" in those days, and they mention, speaking of environmental matters, that she also served on the board of Lafarge, a company that, according to a press account, once burned hazardous fuels to run its cement plants.
Wal-Mart, though, was the crown jewel of Arkansas, the state's First Company fit for a first lady. During her tenure on the board, she presumably helped preside over the most remarkable growth of any company until Bill Gates came along. The number of Wal-Mart employees grew during the '80s from 21,600 to 279,000, while sales soared from $1.2 billion to $25.8 billion.
And the Clintons depended on Wal-Mart's largesse not only for Hillary's regular payments as a board member but for travel expenses on Wal-Mart planes and for heavy campaign contributions to Bill's campaigns there and nationally. According to reports in the early '90s, before Bill and Hillary moved to D.C., neither was raking in the big bucks, but prominent in their income were her holdings of between $50,000 and $100,000 worth of Wal-Mart stock."