WalMart is showing its’ true colors in a big way this time!
And I will say that it appears to be a crappy shade of brown! Sorta the same color as …um.. bullshit!
Question! How exactly do you kinda let $24 million, yes I said million, get away and not question it? And then you shut the findings down and hope that no one else finds out about it.
Wal-Mart sent investigators to Mexico City and found a paper trail of hundreds of suspect payments totaling more than $24 million, but the company’s leaders shut down the investigation and neglected to notify U.S. or Mexican law enforcement officials, the Times reported.
Now, keep in mind it is reported to have been an event initiated in 2005. 2005!
Wal-Mart said it had disclosed its probe to the DOJ and the Securities and Exchange Commission. The company also said it had taken steps at the Mexico unit, which is widely known as Walmex, to boost internal controls to make sure it was FCPA compliant. But, according to the Times, the disclosure came only after it informed Wal-Mart that it was looking into the bribery allegations, years after the bribes were said to first come to management’s attention.
So, now all of a sudden they are “deeply concerned” about the allegations.
Wal-Mart said in a statement on Saturday it was “deeply concerned” about the allegations in the Times report. It said it began an investigation into its compliance with anti-bribery laws last autumn.
Read carefully here folks! You may want to have a pen and paper handy to tally the dates and times, actually the year, of the Walmart reactions and responses. The stated anti-bribery compliance investigation started last autumn. 2011! Kinda quick response ain’t it? Only 6 years. Pretty much leads me to believe that there was no concern prior to that time.
Now read further into these articles and you will get the real brown texture of what WalMart is up to. It appears that the individuals that are directly involved are… wait for it! … still there! And still have their jobs! How’s that for a kick in the ass! Get caught with your hands in the cookie jar for 20 million and you still keep your job!
Methinks this way. They dare not let any of these people loose. Why? You ask? Cause they know about all the skeletons and where they are buried! That’s why! Think about it. Their job salaries are a small price for their silence considering what this one discovery has brought them.
I am really chuckling over the fact that now Walmart will have to spend many millions of dollars to “investigate” these improprieties and with the blow to their stock, the DOJ paying a lot more attention to their “operations” here and abroad, and even the financiers taking a second look at their investments I have no sympathy for them at all!
And for good measure a swift kick to the head … WalMart appears to be a major engine in attempting to scale back the FCPA and change the impact of the corruption laws. Gee! Isn’t that amazing. Not really. Weasels are weasels!
And if I let my mind wander a bit, while mentally thumbing through current events I don’t find it a stretch of the imagination to envision the discovery of some unfortunate link to the Mexican cartels [bribes] and maybe even the use of Blackwater agents in the mix. But that is not reality… now…not yet.. keep looking!
So, all of you WalMart shoppers may want to reconsider exactly who and what you are funding when you walk in to one of these “dens of iniquity” er… WalMarts. And like Jeff Dunhams’ character Walter, the WalMart greeter says “Get your shit and get out!” Pretty much sums it up for me!
- Wal-Mart probe could cost some executives their jobs (reuters.com)
- Wal-Mart bribery allegations could have far-reaching impact (marketday.msnbc.msn.com)
- Wal-Mart’s Vast Mexico Bribery Case Exposed (dekerivers.wordpress.com)
- Wal-Mart silenced Mexican bribe inquiry (jhaines6.wordpress.com)
- Wal-Mart accused of massive corruption scandal (newstatesman.com)
- Weighing the Legal Ramifications of the Wal-Mart Bribery Case – New York Times (dealbook.nytimes.com)