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California State Teachers' Retirement System Sues Wal-Mart Over Alleged Bribes in Mexico

ricky16 Wrote: May 04, 2012 2:51 PM
Shouldn't Mexico be the ones suing....Oops!...forgot...they're too busy collecting the brides!
wiseone Wrote: May 04, 2012 3:29 PM
This is a joke. Try doing business in Mexico (or Chicago) w/o paying bribes to the government.

This kind of crap is the ultimate hypocrisy of government. Crooked gov't employees strongarm businesses with bribe demands and then uphold lawsuits or pursue criminal action against companies that would rather be paying those bribes in the first place.

In the 1930s Congress tried to crucify Howard Hughes for making large campaign contributions. They subpoenaed him and demanded that he admit, under oath, that he made these contributions, the implication being that they were really bribes. Hughes' response was unexpected. He said yes, he had made the contributions at the insistence of the elected officials themselves...
wiseone Wrote: May 04, 2012 3:30 PM
and that he welcomed the suggestion that this should stop because "I never wanted to be involved in it in the first place."

Reuters has the whole story. Based on bribery allegations first reported in the New York Times, the California State Teacher's Retirement System (CalSTRS) is suing Wal-Mart in order to encourage corporate governance reform. CalSTRS provides benefits for more than 850,000 teachers in California. The company holds 5.3 million shares in Wal-Mart.

 

"By utilizing the derivative action, CalSTRS is seeking to remedy the damages sustained by Wal-Mart...