Brian, to us here in SW MO, Walmart is locally owned - sort of. Sam Walton based the company out of Bentonville, AR which is barely 40 miles from here. I can remember hearing stories from relative/employees of Walmart when they would tell of Sam Walton himself parking his old pickup outside store #12 (my hometown), and spending all day helping them stock shelves.
Walmart is the largest single customer of the company I work for here. They pay us north of $400 grand a month to power their central computer processing center just south of here....that center, and including their Supercenter just a few blocks from it.
Walmart was also the largest single customer of the company I worked for 16 years ago before coming here. That company Doan Pet Foods, made nearly 100% of Walmart branded Ole Roy dog food, and Special Kitty cat food for Walmart. Doan had 18 locations in the lower 48, and employed a lot of people. Still do, except the Doan family sold out to another, then another, and now I believe they are owned by Mars Company. (no chocolate candy being added to the dog food I'm told) I guess it could be argued that for every job Walmart (back then) cost a local community, they added the same amount of jobs in their stores. I regret that I didn't/couldn't buy a couple thousand shares of Walmart stock back when i was 12 and could have gotten in on 'the ground floor' so to speak.