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Walmart's Mexican Morass: Walmart
Oleh:
[s.n]
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Economist (http://search.proquest.com/) vol. 403 no. 8782 (Apr. 2012)
,
page 57-58.
Topik:
Retail Stores
;
Bribery
;
Foreign Business
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
EE29.71
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
Most weeks it slashes prices. This week it was Walmart's turn to be slashed. Jittery investors cut $10 billion from the value of its shares after the New York Times on April 22nd reported insiders' accounts of bribery in Mexico to accelerate the retailer's expansion there. Walmart's Mexican arm, Walmex, stands accused of greasing local officials' palms over several years to speed the granting of permits to open new stores. Managers at group headquarters in Bentonville, Arkansas, were apparently informed about the payments (which were said to be made through intermediaries) in 2005. They launched a probe, but wound it down without disciplining anyone. They did not disclose any of this to the authorities until last December. Since venturing across the Rio Grande in 1991, the company has quickly come to dominate Mexican shopping. It accounts for half of Mexico's formal retail market and has nearly four times as many stores as its nearest rival, Soriana. It is Mexico's largest private employer, with 200,000 staff. And Walmex contributes nearly a quarter of Walmart's foreign sales.
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