1. Title of the Article: “Vast Mexico Bribery Case Hushed Up by Wal-Mart After Top Level Struggle”
2. Date of the Article: April 21, 2012
3. Source of the Article: The New York Times
4. Article refers to what key term or concept learned in Units I or II: Management in Chapter 6, Board of Directors in Chapter 4.
5. Define the key term or concept: Board of Directors- the top governing body of a corporation, the members of which elected by the stockholders. Management- the process of coordinating people and other resources to achieve the goals of an organization.
6. Main idea of the Article: The main idea of the article is to uncover and to inform the public of Wal-Mart de Mexico’s bribery activities.
7. Major conclusions of the Article: In Mexico, executives in Wal-Mart were paying bribes to government officials, zoning officers, gestures, etc., to secure land and to get permits that would have taken months, in a matter of days. Wal-Mart has driven out the completion in Mexico with 1 out of 5 of its stores being located there. The bribery payments are in violation of the Foreign Corrupt Practices Act, (FCPA). Mr. Cicero, a former executive for Wal-Mart de Mexico gave names, dates, and amounts of information about the bribes and even told how it was covered up in the financial process, but everything was pushed under the rug, so it wouldn’t bring a bad name to the company. No employees involved in the bribes have been punished.
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