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Forum Post: walmart lies to stockholders, cheats and steals. oh so wholesome

Posted 2 years ago on April 21, 2012, 9:29 p.m. EST by gestopomillyy (1695)
This content is user submitted and not an official statement

will the government do any thing?? haha not likely.. this is the same kind of thinking that let the banks destroy the economy, there fore it follows that the government will look the other way

In less than a year, Mr. Lewis’s beefed-up team had doubled its caseload, to roughly 400 cases a year. Some executives grumbled that Mr. Lewis acted as if he still worked for the F.B.I., where he had once supervised major investigations. They accused him and his investigators of being overbearing, disruptive and naïve about the moral ambiguities of doing business abroad. They argued that Corporate Investigations should focus more on quietly “neutralizing” problems than on turning corrupt employees over to law enforcement.

Wal-Mart’s leaders had just witnessed the downside of that approach: in early 2005, the company went to the F.B.I. with evidence that the disgraced former vice chairman, Mr. Coughlin, had embezzled hundreds of thousands of dollars. The decision produced months of embarrassing publicity, especially when Mr. Coughlin claimed he had used the money to pay off union spies for Wal-Mart.

Meanwhile, Wal-Mart de Mexico executives were continuing to complain to Bentonville about the investigation. The protests “just never let up,” a person involved in the case said.

Another person familiar with the thinking of those overseeing the investigation said Wal-Mart would have reacted “like a chicken on a June bug” had the allegations concerned the United States. But some executives saw Mexico as a country where bribery was embedded in the business culture. It simply did not merit the same response.

“It’s a Mexican issue; it’s better to let it be a Mexican response,” the person said, describing the thinking of Wal-Mart executives.

http://www.nytimes.com/2012/04/22/business/at-wal-mart-in-mexico-a-bribe-inquiry-silenced.html?_r=1

7 Comments

7 Comments


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[-] 2 points by gnomunny (6614) from St Louis, MO 2 years ago

Eduardo Castro-Wright, chief executive of Wal-Mart's Mexico division, is described as the, "driving force behind the systemic bribery in Mexico." Wal-Mart has since promoted him to vice-chairman. In the event Mr. Castro-Wright ever has such aspirations, I would like to be the first to welcome him into the American political machine, where I'm sure he will be welcomed with open arms.

[-] 2 points by shoozTroll (17632) 2 years ago

Now that they can just torture them, they get a better return on their ROI.

[-] 2 points by bensdad (8977) 2 years ago

crapitalism rules!

[-] 1 points by factsrfun (6441) from Phoenix, AZ 2 years ago

Hey I didn't see you had this link up already, no matter we seem to be the only place people are talking about this.

[-] 1 points by gestopomillyy (1695) 2 years ago

ive been reading about it on yahoo.. it is so strange to me that all the comments are just.. la ti da who cares... are the people that out of tune with what this represents about corporations in general? just let them go ahead and break what ever laws.. no big deal

[-] 2 points by factsrfun (6441) from Phoenix, AZ 2 years ago

It is a flat out theft of 24 million in company money, for one thing, but since it was stolen and used this way, there is not the same actions as if he had put it in his own pocket. That speaks volumes, we like to think money is God's gift not a source of power, all people are people, we need to stop talking about them and treating them like the gods they have become because of the money/power. We need to spread the money around so the power will be diverse, the super wealthy are about to learn that lesson, if the Super pacs are not stopped, many of those who thought they mattered will find they don’t.

[-] 1 points by nichole (525) 2 years ago

Amazon isn't any better. Inquiries into their corruption have only just begun.