Wal-Mart stock slides on bribery probe USA Today 04/23/2012
Let me see...a news item showing Wal Mart in a bad light for bribing officials in Mexico. Leaving out the worn-out anti-Wal Mart sentiment in the media, does anyone really think one can do business in Mexico without bribing officials? Is anyone in the US that naive? I have traveled extensively in Mexico and have had to bribe local officials in order to simply drive my auto through the town. In addition, does anyone who is over 21 and can read really believe that business is done much differently here in the good old USA? Many years ago (1983), I attempted to open a business office in a mid-sized Georgia city. I could not get a fire inspection until I had bought my business license, and could not get a business license until my building had been inspected by the fire department. Being young, I actually went back and forth a few times until I realized that both offices were expecting a bit of renumeration for speeding the process along. Once these wheels were greased, things went very smoothly. I have had to do business this way many times since, most often in union dominated cities such as NYC and Boston. And with the mention of unions, we go full circle to just why these articles are popping up about "shocking" Wal-Mart revelations. The union attempting to make inroads into the Wal-Mart company know that they may have less than a year to succeed, for with a new administration possible, things may become a bit less friendly. I hope that readers of the news are not as dumb as the writers and editors think they are.
Just as a fact check, something the New York Times / USA Today may have overlooked in their "investigative" reporting. The following is from the Justice in Mexico Project, but the statistics and facts can be easily gathered from any number of valid sources:
04/05/11 – In a recent press conference, Coparmex or Confederación Patronal de la República Mexicana (Mexican Employers’ Association) revealed new statistics regarding acts of corruption. The President of Comparmex, Gerardo Gutiérrez Candiani, affirmed that recent studies show companies in Mexico spend 10% of their revenue on acts involving corruption. Additionally, more than 44% of companies make unofficial payments to public servants at the local, national, and federal levels. Gutiérrez stated that as a result, 7 out of 10 companies have experienced a reduction in their competitiveness due to these factors. He also reminded the public how Mexico ranked 98th out of 178 countries on Transparency International’s Corruption Perception Index for 2010, which is a drop from their 2009 score in which they ranked 89th. Studies from the private sector have calculated that the costs of corruption are equivalent to 9% of their gross domestic product. Families that have little resources are the ones most affected by these illicit actions.
Let me see...a news item showing Wal Mart in a bad light for bribing officials in Mexico. Leaving out the worn-out anti-Wal Mart sentiment in the media, does anyone really think one can do business in Mexico without bribing officials? Is anyone in the US that naive? I have traveled extensively in Mexico and have had to bribe local officials in order to simply drive my auto through the town. In addition, does anyone who is over 21 and can read really believe that business is done much differently here in the good old USA? Many years ago (1983), I attempted to open a business office in a mid-sized Georgia city. I could not get a fire inspection until I had bought my business license, and could not get a business license until my building had been inspected by the fire department. Being young, I actually went back and forth a few times until I realized that both offices were expecting a bit of renumeration for speeding the process along. Once these wheels were greased, things went very smoothly. I have had to do business this way many times since, most often in union dominated cities such as NYC and Boston. And with the mention of unions, we go full circle to just why these articles are popping up about "shocking" Wal-Mart revelations. The union attempting to make inroads into the Wal-Mart company know that they may have less than a year to succeed, for with a new administration possible, things may become a bit less friendly. I hope that readers of the news are not as dumb as the writers and editors think they are.
Just as a fact check, something the New York Times / USA Today may have overlooked in their "investigative" reporting. The following is from the Justice in Mexico Project, but the statistics and facts can be easily gathered from any number of valid sources:
04/05/11 – In a recent press conference, Coparmex or Confederación Patronal de la República Mexicana (Mexican Employers’ Association) revealed new statistics regarding acts of corruption. The President of Comparmex, Gerardo Gutiérrez Candiani, affirmed that recent studies show companies in Mexico spend 10% of their revenue on acts involving corruption. Additionally, more than 44% of companies make unofficial payments to public servants at the local, national, and federal levels. Gutiérrez stated that as a result, 7 out of 10 companies have experienced a reduction in their competitiveness due to these factors. He also reminded the public how Mexico ranked 98th out of 178 countries on Transparency International’s Corruption Perception Index for 2010, which is a drop from their 2009 score in which they ranked 89th. Studies from the private sector have calculated that the costs of corruption are equivalent to 9% of their gross domestic product. Families that have little resources are the ones most affected by these illicit actions.
No comments:
Post a Comment