But in recent months, as the company has become a target for Democratic activists, she has largely steered clear of any mention of Wal-Mart. And late last year, Clinton's reelection campaign returned a $5,000 contribution from Wal-Mart, citing ''serious differences with current company practices."
As Clinton sheds her Arkansas past and looks ahead to a possible 2008 presidential run, the Wal-Mart issue presents an exquisite dilemma: how to reconcile the political demands she faces today with her history at a company many consumers depend upon but many Democratic activists revile.
''The interesting question is not just Hillary Clinton's history at Wal-Mart, but why it's delicate for her to talk about Wal-Mart," said Charles Fishman, author of ''The Wal-Mart Effect," a book on the company's impact on the national economy. ''Plenty of Democrats denounce Wal-Mart, but there are also plenty of people who need it, love it and rely on it."
In 1986, when Wal-Mart's founder, Sam Walton, tapped Clinton to be the company's first female board member, Wal-Mart was a fraction of its current size, with $11.9 billion in net sales.
Today, Wal-Mart is the world's largest retailer and largest private employer, with over $312 billion in sales last year and 1.3 million employees in the US alone. But recently, the company has drawn intense scrutiny for its labor practices -- from its wages to the lack of affordable health coverage for employees, to its stiff resistance to unionization.
Throughout the 1980s, both Bill and Hillary Clinton nurtured relationships with Walton, a conservative Republican and by far Arkansas' most influential businessman.
Among other things, Hillary Clinton sought Walton's help in 1983 for Bill Clinton's so-called Blue Ribbon Commission on Education, a major effort to improve Arkansas' troubled public schools. The overhaul became a centerpiece of Clinton's governorship.