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Last week, MNB reported that Walmart will host its first "Made in the USA" event for suppliers on July 8, in Bentonville, Arkansas, and noted that the company has committed to spending "an additional $250 million on US-made products in the coming decade."

This was a mistake. In fact, Walmart has committed to spending $250 billion. The exact commitment, as stated on Walmart's website, is as follows:

"In January 2013, Walmart announced it will buy an additional $50 billion in U.S. products in 10 years in an effort to grow U.S. manufacturing and encourage the creation of U.S. jobs.

"When you add up what we spend each year, our pledge is to buy an additional $250 billion in American products."

Mea culpa, mea culpa, mea maxima culpa.
KC's View: