- May 17, 2012
- Posted by: Ted Bullen
- Category: Ethics, Information Technology, News, Retail
It was announced, today, that Wal-Mart Stores Inc’s profit and sales surpassed expectations, causing share prices to rise, briefly recovering the 8+% loss after the bribery scandal was uncovered (See Ethics For Sale at Wal-Mart.) Shares eventually settled up 4 percent. This occurred despite ongoing internal and government probes into bribery of Mexican government officials. Profits were up more than 10%, making investors happy. The outlook, now, is for the stock price to reach an all-time high within the next nine months. It seems that the stain of the bribery scandal has been covered up by the allure of high revenues. Perhaps Wal-Mart will, eventually, be fined for violating the Foreign Corrupt Practices Act. But, what’s a little corruption among friends?