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All of the Bud’s Discount City shops had closed or converted into Walmart Discount Stores by 1997. As Wal-Mart expanded quickly into the world’s largest company, many critics worried about its impact on native communities, notably small cities with many “mom and pop” stores. There have been a number of studies on the financial impression of Wal-Mart on small towns and local businesses, jobs, and taxpayers. Kenneth Stone, a professor of economics, discovered Online Shop News that some small towns can lose almost half of their retail trade within ten years of a Wal-Mart store opening. A later research in collaboration with Mississippi State University showed that there are “each constructive and negative impacts on present shops in the space the place the brand new supercenter locates.”