Media Report
April 25, 2012Tallying up the Walmart bribery probe
http://www.marketplace.org/topics/business/tallying-walmart-bribery-probe
“Marketplace” business reporter Adriene Hill talked with Wayne State University law professor Peter Henning about the Walmart bribery scandal. Shares of Walmart lost another 3 percent or so today -- that's another $3.5 billion from its total market value -- on concerns that a Mexican bribery investigation could end up costing the company a lot more. The New York Times reported over the weekend that Walmart bribed Mexican officials as it built its business down there. It’s a little early to know what exactly the scandal will mean to Walmart. “We’re in the top of the first inning here,” says Henning. “The company is going to be incurring enormous costs for an internal investigation. Those kind of costs can run into the millions, perhaps even $100 million.”
“Marketplace” business reporter Adriene Hill talked with Wayne State University law professor Peter Henning about the Walmart bribery scandal. Shares of Walmart lost another 3 percent or so today -- that's another $3.5 billion from its total market value -- on concerns that a Mexican bribery investigation could end up costing the company a lot more. The New York Times reported over the weekend that Walmart bribed Mexican officials as it built its business down there. It’s a little early to know what exactly the scandal will mean to Walmart. “We’re in the top of the first inning here,” says Henning. “The company is going to be incurring enormous costs for an internal investigation. Those kind of costs can run into the millions, perhaps even $100 million.”
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