Tuesday April 24, 2012
The NY Times reports that WMT possibly violated the Foreign Corrupt Practices Act FCPA passed in 1977. The allegations suggest bribes supported WMT's rapid expansion in Mexico.
Mark Hulbert describes an academic study on bribes. The magnitude of the drop in WMT stock price monday suggests there is worse to come.
The big drop in WMT helepd contribute to the drop in several stock averages on Monday.
FCPA was passed in 1977 during an economic downturn. Now decades later the same allegations appear during another ecnommic downturn against the major retailer in the USA and Mexico.
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