141–150 of 214 posts
I'm sorry, It's an unpopular opinion to hold, but the overseas bribery thing is a ridiculous standard to hold. [These opinions are just mine, and while I have them as opinions I would never act on them as a representative of my company, not that I would ever have the chance, and I don't work for Walmart] Over the course of human history, bribery has been the norm. I would dare to say that today, by population, it is…
Earlier quoted context omitted.
What about if he knew the cashier was stealing the money, was intentionally ignoring it, and maybe even cooking the books a little, to cover for that employee? Does lit change if the manager was benefiting from the theft in some way? That sounds a lot closer to what happened.
Show me in the SEC filing where it suggests Wal-Mart’s executive leadership did anything like that: https://int.nyt.com/data/documenthelper/1331-walmart-sec-set...
I suspect people cynically demanding that CEOs be put in jail haven’t really dug into the facts of this or other FCPA cases. Holding the CEO liable for employee misdeeds is like holding teachers responsible for teenagers getting into fights or having sex. It’s a strong moral position to take (holding teachers accountable), but it’s wholly impractical and unfair. In a company with a million employees, it’s guaranteed…
From the article: "But even as employees frequently raised alarm, the company’s top leaders did little to prevent Walmart from being involved in bribery and corruption schemes." Which means the "top leaders" knew of the problem, and choose to ignore it. It would be a different story if they put real effort into self policing and there was evidence they pushed the guilty contractors/etc but again: "The plea agreement,…
A friend of mine from Nepal said something along the lines of "bribes are just a lubricate to an intentionally slow and unorganized bureaucracy". Places like China, India, Vietnam, & Taiwan all have pretty well know backdoor policies of this.
Its a bit old but https://www.forbes.com/sites/richardlevick/2015/01/21/new-da... and https://www.nytimes.com/2019/06/14/business/china-ge-siemens... are both good read for this.
I've also known of UN project directors who had to convince governmental ministers that the UN's no bribe policy was not just a bargaining method.
I suspect people cynically demanding that CEOs be put in jail haven’t really dug into the facts of this or other FCPA cases. Holding the CEO liable for employee misdeeds is like holding teachers responsible for teenagers getting into fights or having sex. It’s a strong moral position to take (holding teachers accountable), but it’s wholly impractical and unfair. In a company with a million employees, it’s guaranteed…
If your company is too big to keep its own employees from committing crimes, it's too big.
No company bigger than 100 people is capable of such a thing. Do you seriously think that companies larger than 100 people should not exist?
I'm sorry, It's an unpopular opinion to hold, but the overseas bribery thing is a ridiculous standard to hold. [These opinions are just mine, and while I have them as opinions I would never act on them as a representative of my company, not that I would ever have the chance, and I don't work for Walmart] Over the course of human history, bribery has been the norm. I would dare to say that today, by population, it is…
Earlier quoted context omitted.
From the article: "But even as employees frequently raised alarm, the company’s top leaders did little to prevent Walmart from being involved in bribery and corruption schemes." Which means the "top leaders" knew of the problem, and choose to ignore it. It would be a different story if they put real effort into self policing and there was evidence they pushed the guilty contractors/etc but again: "The plea agreement,…
I'm not an apologist for Walmart, kind of the opposite actually, but in a lot of places bribes are not seen as malicious or corrupt just unspoken rules. A friend of mine from Nepal said something along the lines of "bribes are just a lubricate to an intentionally slow and unorganized bureaucracy". Places like China, India, Vietnam, & Taiwan all have pretty well know backdoor policies of this. Its a bit old but https:…
Earlier quoted context omitted.
So the part right before your quote says: “For more than a decade, Walmart used middlemen to make dubious payments to governments around the globe in order to open new locations, United States prosecutors and securities regulators said in a settlement agreement on Thursday.” The parts you quote are the NYT reporting the prosecutor’s allegations as fact. But the passage you quoted also explains everything you need to…
Let's just say employees raise alarm and they're intentionally ignored to sweep things under the rug, I feel it'd be incredibly easy to claim that nothing happened due to improper record keeping Also, if Walmart wasn't in the wrong then why would they agree to a $330M settlement?
I'm sorry, It's an unpopular opinion to hold, but the overseas bribery thing is a ridiculous standard to hold. [These opinions are just mine, and while I have them as opinions I would never act on them as a representative of my company, not that I would ever have the chance, and I don't work for Walmart] Over the course of human history, bribery has been the norm. I would dare to say that today, by population, it is…
I'm not defending Amazon here, but Walmart has literally been criticized for all of the exact same things...
Earlier quoted context omitted.
Strange this is so far outside the Overton window that it can be read as a joke. In cases involving lower valued assets, the owner is almost always punishable: his dog bites you, it's his fault. His contractor lays bad wiring that burns down your house, it's his fault. His kids misdeeds are often legally his fault. And even if he loans his car to someone who crashes into it's legally his fault. But behind a corporate…
I can't quite follow what you're arguing. Are you saying that anyone who owns Wal-Mart stock should go to jail? That's who the owners of Wal-Mart are.
> A very practice and effective solution would be to seize some chunk of the shares/value based on the size of the crime and auction them off. The proceeds going to victims or the like and weakening or removing irresponsible investors in favor of someone else. But this option is simply unthinkable and instead there's endless debate on the CEO's culpability.