Wal-Mart Pays—and Pays—in Response to the Bribery Probe (Bloomberg, 4/25/2014)
We know how expensive lawyers can be. Now, thanks to Walmart’s first-ever Global Compliance Report, we also know how much the company has spent on improving its anti-corruption program and financial controls: more than $109 million. That figure will grow, too. In February, Walmart estimated that its bribery probe and compliance costs would total $200 million to $240 million for the year.
Workers at an Indiana Wal-Mart warehouse allege they were subjected to safety risks including falling freight, forklifts on fire, and frostbite – and then illegally fired for organizing in response. “They never want you to stop working,” said fired worker David Fields. “They want you to keep working – and no matter how unsafe it is, they want you to just keep going.”
Walmart closes outlet amid difficulties in China (Xinhua, 4/25/2014)
On the other hand, a series of scandals connected with Walmart was believed to have affected its reputation, although the company said it was suppliers that had provided defective commodities.
Why Is Wal-Mart Failing in Emerging Markets? (Fool.com, 4/28/2014)
No matter where you look, Wal-Mart is under fire, and I don’t see how the company’s fortunes will improve significantly in the future. It looks like Wal-Mart’s best days are behind it.