The Mexico bribery scandal at Walmart was a dark cloud over the company’s annual meeting and recent news regarding the company’s business practices around the world suggests more stormy weather ahead.
The Walmart 1 Percent are having a rough week and it’s only Tuesday. Shares of Walmart stock fell by nearly 5 percent in response to a report in The New York Times that alleged widespread bribery and corruption in Mexico. According to the story, Walmart’s top executives—including CEO Mike Duke—knew about the problem and tried to cover it up. Matthew Feeley, an expert on corporate malfeasance, told the Times yesterday that the tumble in the stock price could be a sign that investors have lost confidence in the company’s leadership.