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    Wal-Mart discloses internal investigation

    BENTONVILLE, Ark. (AP) — Wal-Mart has opened an internal investigation to determine whether its overseas operations have complied with U.S. federal law as it pertains to permitting, licensing and inspections.

    The Bentonville, Ark., retailer offered few details about the investigation in a quarterly report filed Thursday with the Securities and Exchange Commission.

    The company said that it opened the investigation after reviewing policies, procedures and internal controls tied to its global anti-corruption program. It said that it is taking "appropriate remedial measures."

    "We are taking a deep look at our policies and procedures in every country in which we operate," said Wal-Mart spokesman Dave Tovar in an email. "As a result of information obtained during that review and from other sources, we have begun an internal investigation related to compliance with the" Foreign Corrupt Practice Act.

    All companies doing business overseas must comply with the U.S. Foreign Corrupt Practices Act, which broadly deals with bribery and accounting rules.

    Wal-Mart Stores Inc. has hired outside lawyers and other advisers and has notified the U.S. Department of Justice and Securities and Exchange Commission.

    "Our investigation is currently focused on discrete incidents in specific areas," Tovar said. "We intend to keep federal authorities apprised of what we learn."

    The issue will not have a material impact on business, the company said. The world's largest retailer — which operates in 28 countries, including China, Mexico and Japan — brought in $419 billion in revenue last year.

    Company shares rose 40 cents to $58.38 in morning trading.

     

    64 comments

    • Nancy  •  5 mths ago
      Hey Wal- Mart bring the jobs back here and put Americans to work.We can make your products way better than China. We did it just a generation ago!
    • Nancy  •  5 mths ago
      They must comply with US Foreign Corrupt Practices Act..... yeah right like China,and Mexico are going to comply with anything! Mexico puts the C in corruption and China put crap in everything else.
    • turtlekeeper  •  Memphis, United States  •  5 mths ago
      Sam would be rolling in his grave if he knew how much overseas made crap is lining his shelves. He was Pro-American made and none of the crap that is there now. How many American jobs have been lost since he has passed and everything is bought over seas?
      • Fred 5 mths ago
        Wal-Mart's purchase of foreign goods for sale in USA was supposed to offer LOWER consumer prices---and the FTC and SEC want to know why that's NOT happening....and the FBI quietly sniff something afowl. Maybe Sam's restless spirit is calling "the hounds" on the greedy execs who've defecated on what he created.

        But the sadder fact is: If we think these foreign goods sold here are priced way too high....we've seen nothing yet IF ALL GOODS Wal-Mart sold were American made; expect then to pay even MORE.

        Wal-Mart is doing an internal investigation that's already been done by the Feds; what they find better match what the Feds ALREADY know. It's like this: the Feds ALREADY KNOW the answers they ask Wal-Mart to reply to; they're gonna see what Wal-Mart says. God help Wal-Mart if they LIE to the Feds.

        Then again, Wal-Mart may be guilty of corruptive overseas business practices; they'll just deliver blocks of BIG MONEY into the right hands....and all will likely be settled from there.
    • Linda  •  Blair, Nebraska  •  5 mths ago
      Walmart sucks,they are no more a discount store than I am the president of this country..what a joke they are,How in the world do people shop there knowing the products they buy are from stolen jobs that where taken from the US...go a head and buy there #$%$ you traders..
    • Whowouldathunkit...  •  Canton, United States  •  5 mths ago
      Leaded paint on toys, toxic materials used in products, inferior-over priced "junk", along with the destruction of American industry, and loss of millions of jobs compared to the scant number of employees by comparison, I'd have to say that WalMart is the most dangerous enemy the world has ever faced. More so dangerous than the Taliban/Al Queida, only so because the world is trying to end the Taliban/Al Queida, and idiots continue to fund and defend WalMart. Everyone has forgotten what JFK said when he exclaimed, "ask not what your country can do for you, but what you can do for your country...". That is lost to "save money at WalMart".
    • Nikki  •  Austin, United States  •  5 mths ago
      Here's an idea......bring it back to the USA! Can't find anything in that stupid store that is made here. Maybe that's why the stuff I buy there always falls apart within a few weeks. SHAME ON YOU WAL-MART!!!!! When they first opened, they made sure to specify that they would carry American made items IF they were available. I'm pretty sure they are available....you just want to get them dirt cheap so we can get ROLLBACK prices. I'd gladly pay a little extra for a MADE IN USA label. GOSHHHH!!!!!
      • Dataman 5 mths ago
        They tell their suppliers to make them in China so they can get them for a few pennies less. Comply or no business.
      • WC 5 mths ago
        Don't buy that crap for any reason.
      • Sue 5 mths ago
        Nikki, so where are the things you buy made? Just curious as I walk through stores checking for Made In the USA items and WalMart seems to have more things than other stores. Clothing is next to impossible to buy any where that is made in this country. Did find a good brand of clothing called Prison Blues or something like that made in a USA prison. Jeans, shirts and so forth. Quality is good also.
    • RU4Real  •  5 mths ago
      If the first thing you do is hire a lawyer you must be guilty of some bad things. I bet wal mart breaks labor laws in every country. The "Foreign Corrupt Practice Act" is just a small hurdle for this monster corp. In the end they can just buy their way out of anything.
    • Brian M  •  5 mths ago
      I do not shop at Walmart and I'm proud of it. If I have to pay alittle extra [ which I don't believe I do ] I can live with it. Between the constant lawsuits by their own employees and the chinese made garbage they shove down americans throats they are one big reason for the demise of the middle class.
      • Geno 5 mths ago
        Only thing is that the computer you just typed this comment on was made in China also. Try and find one made in America,,,,good luck!
      • Older and wiser 5 mths ago
        Actually the government is responsible for the creation (labeling) and destruction (taxation and regulation) of classes as we know them. That said, WalMart has helped millions of lower class people live like middle class people.
    • Under Dog  •  Mililani, United States  •  5 mths ago
      I found a candle the other day that was made in america, so I went a army surplus to buy my boots
      • Nancy 5 mths ago
        Are they Danner Boots,My basic issue boots were good for crap. So i went to the Army Exchange when i was stationed at Fort Lewis and bought myself a pair.
    • Brian M  •  5 mths ago
      Walmart Great Value brand apple juice had one of the highest levels of arsenic according to Consumer Report. Country of origin: China
    • larry  •  Phoenix, United States  •  5 mths ago
      I whent to the Hobby Lobby the other day and walked the flore. Every product that I looked at was from China. I am sorry. One thing was from Vet Nam.
    • don h  •  5 mths ago
      they could lower prices even more if they would stop paying managers to stand around jerking off. I NEVER see them doing anything but standing around in groups having a circle jerk
    • Older and wiser  •  5 mths ago
      The danger here is finding out that WalMart may have unintentionally acted the way our government acts (criminally) and we can't have that!
    • PaulF  •  Dallas, United States  •  5 mths ago
      WOW wal-mart is doing the investigation, sounds like they want to cover thier own tracks, the lowest prices around, yeah right, I challanege you all to go out to a wal-mart, price your everyday items, look at where they are made and go to the local merchants, and see what they have, I think you'll be surprised.All's I can say is grown and raise your own, you'll save tons of money, and you'll know where it came from.
    • ann  •  Portland, United States  •  5 mths ago
      i hate walmart..worked for them and they suck big time. while paying employees min. wage they would post by the time clock what each of the 4 waltons were worth (billions each), and what the ceo's made. a real incentive for their workers. they promise profit sharing but everytime it came around they would say we didn't make enough. real assholes i say
    • lp  •  Beaumont, United States  •  5 mths ago
      Proactive event, of wrong doing, they wouldn't just do this of their own free will.
    • oldman1  •  Liberty, United States  •  5 mths ago
      wal mart seen problems before the Securities and Exchange Commission did lol this just says the Securities and Exchange Commission is not doing its job again.
    • Scott T  •  Pittsburgh, United States  •  5 mths ago
      Confucius say retailer fears change in policy makes NO "cents."
    • $  •  5 mths ago
      I've never shopped at this zionist owned place and never will...
    • maughan8  •  Kansas City, United States  •  5 mths ago
      with out bribes i dont thin one at the top has there hand out for somethingk they any one that big could get very far he at home every in office has there hand out for something
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