during the summer months, which disproportionately affects impoverished, formerly redlined neighborhoods. About aSelling to soldiers: Tom Shull, CEO of the Army & Air Force Exchange Service, presides over a government-run retailing operation that supplies everything from soap to sweatpants to U.S. military around the globe.54th-largest retailer in the countryThe Army & Air Force Exchange Service, more commonly called the Exchange, is an $8.
It’s technically under the Department of Defense, but the Exchange receives little in the way of government financial support. The arrangement allows the retailer to get free rent, avoid paying corporate taxes and be exempt from antitrust rules. Couple that with little debt and healthy cash flow, and it’s enough to earn unusually high marks from the credit agencies. Plus, the chance of a government bailout, if it were ever needed, doesn’t hurt.