Rapid Expansion of Walmart Stores in Mexico Comes With a Price Susana G. Baumann - VOXXI
go to original January 8, 2013

Do you shop at Walmart? Do you have Walmart stocks? Then you better read on.

In Spanish, there is a saying, “Tira la piedra y esconde la mano,” (throw the rock and hide the hand). Walmart business practices follow this motto as shown in the 2012 investigative report of the New York Times related to the bribery activity that allowed for the rapid expansion of Walmart stores in Mexico, the reporting of recent horrific discoveries that followed the blaze and death of 112 workers in Bangladesh, and the amount of lawsuits the company battles every year in the United States.

Wal-Mart Stores, Inc. branded as Walmart, is the third largest public corporation and the leading private employer in the world. They operate in 25 countries under 69 different brand names.

For its third quarter earnings in 2012, Walmart reported a profit of $3.63 billion, or $1.08 a share, compared with $3.33 billion, or $0.96 a share, in the same quarter of 2011.

Bigger and better. “Be ready to be better… for whatever reason, whether it is our success or our size, Wal-Mart Stores Incorporated has generated fear if not envy in some circles and that makes it more important than ever that we focus on doing the right thing in doing things right every time…” said President and CEO Lee Scott at their annual stockholder meeting as shown in the 2005 documentary “The High Cost of Low Prices.”

That was the same year a former executive “described how Walmart de Mexico had orchestrated a campaign of bribery to win market dominance. In its rush to build Walmart stores, he said, the company had paid bribes to obtain permits in virtually every corner of the country,” as reported by the New York Times

The scandal involved top executives at Walmart de Mexico and federal government officials to the last local bureaucrat in each location. Everybody got their share.

Read more at VOXXI.com

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