Walmart

Mexico City -- A Wall Street Journal report on Thursday said that the Mexico’s Ministry of Public Functions – the country’s public-sector watchdog – will investigate new-store permits secured by Wal-Mart’s Mexico division, Wal-Mart de Mexico.

The agency is looking for misconduct on the part of federal government employees in granting construction and other permits, according to WSJ.

With all sorts of media outlets riding the coattails of the New York Times investigative reporting on Walmart’s alleged bribery of Mexican officials and subsequent cover up, Forbes asked the logical question of whether paying money to government officials to get things done in Mexico is even illegal under the U.S. Foreign Corrupt Practices Act. Read more.



 

By now anyone who receives this weekly newsletter has heard or read something about Walmart’s alleged Mexican bribery scandal and cover up.

Bentonville, Ark. -- Amidst allegations of involvement in a foreign bribery scandal, Wal-Mart Stores vice chairman Eduardo Castro-Wright has vacated his seat on the board of life insurer MetLife, according to a Tuesday announcement by Wal-Mart.

In a letter to MetLife CEO Steve Kandarian, Castro-Wright said that the recent events at Wal-Mart would require his “immediate and personal attention. Accordingly, I now must focus my energy in spending personal time with my family and in protecting my good name and business reputation.”

Bentonville, Ark. -- As part of its answer on Tuesday to a New York Times article regarding compliance with the U.S. Foreign Corrupt Practices Act, Wal-Mart Stores VP corporate communications David Tovar announced that the retailer had appointed a global officer to oversee compliance.

The move is just one of the steps that Tovar outlined toward managing issues related to the 1970s law that forbids bribing foreign officials.

Wal-Mart has not yet identified the person who will fill the slot, or when it will be activated.
 

New York -- A Wednesday report by Reuters said that the Mexican federal comptroller’s office has given the go-ahead to open an investigation into allegations that Wal-Mart Mexico bribed officials to expand its business in the country.

"If wrongdoing attributable to federal public officials is detected, the federal government will take action," the office said.
 

BENTONVILLE, Ark. — Amidst allegations of involvement in a foreign bribery scandal, Wal-Mart Stores vice chairman Eduardo Castro-Wright has vacated his seat on the board of life insurer MetLife, according to a Tuesday announcement by Wal-Mart.
 
In a letter to MetLife CEO Steve Kandarian, Castro-Wright said that the recent events at Wal-Mart would require his “immediate and personal attention. Accordingly, I now must focus my energy in spending personal time with my family and in protecting my good name and business reputation.”

Washington, D.C. -- The National Retail Federation announced that Bill Thorne has been named senior VP communications and public affairs. He will join NRF on June 1 to oversee the organization’s industry and public affairs communications strategy. Thorne currently serves as senior director Community Affairs at Walmart Corp.