After bribery report, Walmart defends integrity
Source: Los Angeles Times
Published Tuesday April 24, 2012
After bribery report, Walmart defends integrity
The Los Angeles Times
LOS ANGELES Walmart Stores Inc. said its a stickler for integrity, issuing a lengthy response to a report that the massive retailer shut down an investigation into alleged bribery in its Mexico operations.
In a large global enterprise such as Walmart, sometimes issues arise despite our best efforts and intentions, the company said.
The issues in question: The chains possible violation of the Foreign Corrupt Practices Act, based on what one informant claimed was rampant bribery from Walmart executives attempting to boost the companys growth in Mexico.
The huge retailer has been emphasizing in recent years its transformation into a conscientious global citizen, touting its eco-friendly efforts and commitment to healthful, justifiably sourced products.
Read more: http://www.omaha.com/article/20120424/MONEY/704249936
IndyJones
(1,068 posts)Sherman A1
(38,958 posts)I think that would be much, much more effective.
IndyJones
(1,068 posts)quakerboy
(13,920 posts)Its small change to Walmart.
How about a new law that any company who breaks the law loses all tax benefit otherwise available from the from the US government for the year. And that they face fines of at least 10 times the benefit of any wrong doing. As well as having to directly reimburse any injured private parties at least 10 times the damage they caused. And that CEO's who can be shown to sign off on illegal activities can be personally prosecuted.
That might leave a mark. At the least, they would get a lot more circumspect about hiding the wrongs they do.
IndyJones
(1,068 posts)hobbit709
(41,694 posts)FailureToCommunicate
(14,020 posts)A wise Man
(1,076 posts)WALMART Still funds "ALEC"
melm00se
(4,993 posts)here (but they do create plenty of problems). Greasing palms is the traditional way of getting things done south of the border.
The survey, conducted by the non-profit group Transparency Mexico, showed that 197 million bribes were paid nationwide in 2007 compared to 115 million in 2005.
USA Today 4/16/2008
It happens from top to bottom in Mexico and is, unfortunately, accepted there.
I know that most companies that do business in Mexico (and other countries where bribery/(large) gift giving is par for the course) have extremely specific policies on dealing with this. I know that mine does.
closeupready
(29,503 posts)Just the way it goes.
bayareaboy
(793 posts)Here in America, Wall-Mart does it slightly different. They go to civic agencies and talk smack and then get anything they want.