Food stamp glitch leads to Wal-Mart stampede
Shoppers swarm stores after a computer hiccup gives benefit cards unlimited purchasing power.
Wal-Mart (WMT) stores in Springhill and Mansfield, La., saw a stampede and a shelf-clearing rush Saturday after a computer glitch for food stamp recipients led to benefit cards allowing unlimited purchases.
"Springhill Police Chief Will Lynd confirms they were called in to help the employees at Wal-Mart because there were so many people clearing off the shelves. He says Wal-Mart was so packed, 'it was worse than any black Friday' that he's ever seen.
Lynd explained the cards weren't showing limits and they called corporate Wal-Mart, whose spokesman said to let the people use the cards anyway. From 7 to 9 p.m., people were loading up their carts, but when the cards began showing limits again around 9, one woman was detained because she rang up a bill of $700 and only had .49 on her card. She was held by police until corporate Wal-Mart said they wouldn't press charges if she left the food.
Lynd says at 9 p.m., when the cards came back online and it was announced over the loud speaker, people just left their carts full of food in the aisles and left."
No arrests were made.
"Just about everything is gone. I've never seen it in that condition," Mansfield Wal-Mart customer Anthony Fuller told KSLA.
More from InvestorPlace
No matter how you cut it, it was theft and those who took advantage should be prosecuted!
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
Shares fell 9 percent during the quarter, which offers a compelling entry price now.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.