Walmart became the world’s largest retailer by offering “everyday low prices” around the globe. Apparently, though, Walmart was offering something else too. The company has been plunged into a major scandal since a New York Times investigation revealed that Walmart’s Mexico subsidiary paid $24 million in bribes to local officials to sidestep regulations and obtain construction permits for new stores. The worst part: the story alleges that then the CEO and other top executives knew exactly what was going on and tried to hush it up.
This case is definitely a violation of business ethics!
Read more: http://www.time.com/time/magazine/article/0,9171,2113176,00.html#ixzz26JxA1ivl
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