Under the Wal-Mart Bus
Wal-Mart’s cover-up of a huge bribery network in Mexico ignited a huge PR crisis as they discovered the bribes in their own internal probe, then “failed” to notify law enforcement. Now, the Mexican government is urged to launch its own probe. Unbelievably, Wal-Mart’s growth in Mexico has been so rapid that one of every five Wal-Mart stores now is in that country. It is also Mexico’s largest private employer, with 209,000 employees there. But according to a recent NY Times report, the retail giant allegedly hushed up a vast bribery campaign that top executives of its Mexican subsidiary carried out to build stores across that country.
Read about it in the New York Times article: Vast Mexico Bribery Case Hushed Up by Wal-Mart After Top-Level Struggle
And in Reuter’s article: Wal-Mart’s Sarbanes-Oxley problem: Alison Frankel
And on Fox News: Wal-Mart faces big fines amid bribery charges
KJ says: “The best thing they could do is put some heads on a pike in management and start over with new hires, work with the government to get it resolved. It’s completely STUPID that with ALL that money Wal-Mart could have done the launch of their foray into Mexico right – ten times over. But for a piddly 24 million (Wal-Mart chump change) they use unethical and illicit methods to gain what they would have already gotten.”