NEW YORK (TheStreet) -- The time is upon mighty Walmart (WMT) to abolish its annual shareholder and employee rave. Actually, the company should make June 2014 its last celebration of a business that resembles little of the retailing disciplines of founder Sam Walton other than low prices. No more trotting Queen Latifah onto the stage (like at the 2007 annual meeting). No more Hugh Jackman as emcee. No more very weird Tom Cruise cameos that light up Twitter (TWTR) and the investor relations page of Walmart that has live streaming commentary on the event.

It's time for Walmart to start an open and honest discussion with shareholders, whether it's Granny Smith and Grandpa Joe who own the shares from 1980 or XYZ institution, on the true state of its business. I believe the savings from not having an annual party in Bentonville, Ark., should be reinvested in nationwide town hall meetings, where executives from the ivory tower and regional managers meet with employees and shareholders to learn what is occurring on a micro level. Those are valuable insights not readily detectable in the litany of real-time data received from Walmart stores.

What's that true state of Walmart you ask? Well, it's counter to all of the hype that will emanate from the annual rave, that much is for sure. Here are the financial facts on the world's largest retailer that nobody else is talking about; they collectively paint a picture of a company that could be headed for some trouble in the distant future if corrective action is not taken today.

If you liked this article you might like

Cramer: How to Avoid Being Amazon Roadkill

Walmart to Expand Food Stamp Acceptance Online

This Walmart Concept Just Saw the Most New Visitors in Over 3 Years

Fed, Toys 'R' Us, Equifax and Hurricane Maria - 5 Things You Must Know