Top Personal Finance Posts Of The Week – Wal-Mart Bribery Scandal Edition

Posted April 22nd, 2012 in Blog Carnival by Jeremy Waller

Wal-Mart, one of the largest companies in the world, has just found itself in the middle of a massive bribery scandal.

Allegedly, bribes totaling more than $24 million were paid to Mexican officials to speed up the permitting process to open new stores. This was allegedly hidden from the corporate office via good old fashioned accounting fraud.

Supposedly, then CEO of the Mexican subsidiary, Eduardo Castro-Wright, personally signed off on the bribes. Castro-Wright is currently the vice chairman of the parent company.

Business Insider has a good overview of the allegations.

With all of the PR problems that Wal-Mart has been dealing with, this is the last thing the company needs. I’m interested to see how this effects the stock price when the markets open tomorrow morning.

Top Posts of the Week

Kraig @ Young, Cheap Living writes 10 Personal Finance Tips for Young Adults – As he gets another year closer to turning 30, Kraig examines what he’s learned about personal finance in his twenties and shares 10 tips on personal finance that he’s learned so far.

Princess P @ Portfolio Princess writes Why Females are Better Investors – Women are better investors because they take a calculated approach to risk and investing in the stock market. Low volatility portfolios come with patience.

MMD @ MyMoneyDesign writes What Would You Do With An Extra $1,000? – Having just received $1,000 from my previous escrow balance, should I totally blow it or do something responsible? Let’s explore the options and see all the things you could do with an extra $1,000.

Sean @ One Smart Dollar writes Gym Memberships – Using Money To Motivate You – All of us need ways to motivate ourselves to get things done. One of the biggest motivators is money. Thank you for your consideration.

Earth and Money @ Earth and Money writes What Do You Need in Your Cage? – While listening to a podcast about zoos, I was touched by a fascinating concept that can be related back to society, lifestyle, money and happiness. You see, at some level, we are all just animals in a cage.

SB @ One Cent at a Time writes Basics of Insurance: Why we Need Insurance? – What is insurance? Insurance is all about playing defense, where as an investment is an offense. You protect yourself and your asset by having insurance and investments take care of future needs.

Brent Pittman @ On Target Coaching writes What Do You Teach Your Kids About Money? – What do you teach your children about money? A recent survey by T. Rowe Price revealed the state of the union regarding financial literacy and what we teach our children about personal finances.

Jeremy @ Modest Money writes Establishing Spending Priorities – Depending on your financial situation, you may need to make some sacrifices. At the same time, you don’t want to let your budgeting prevent you from enjoying the things you love. To stay happy you need to establish spending priorities and spend a bit where it makes you happy.

Echo @ Boomer & Echo writes 10 Fees That Are Worth The Money – Some fees just can’t be avoided, but that doesn’t mean every fee is designed to rip you off. You can feel good about paying fees when they provide enough benefit to justify the cost. Here are 10 fees that are worth the money:

Control your Cash writes The Multimillionaires Who Need Your Money – Why are we subsidizing Major League Baseball owners?

Jason P. @ One Money Design writes Money Saving Ideas for Spring in the Home, Landscaping and Kitchen – Ideas for saving money sometimes comes too late. Let’s make sure that’s not the case this spring! Here are some tips from the biggest spring-cleaning project I’ve had in a while!

Other Carnivals And Mentions This Week

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6 Responses so far.

  1. Thanks for the inclusion in the article. I don’t think this will affect WalMart’s stock much. Bribes are a part of life and business in most 2nd and 3rd world economies. It isn’t right, but they do exist.

  2. I didn’t know about this scandal. Need to read now. Thanks for including me.

  3. Likewise, I had no idea this was happening. Though with a corporation that size, this kind of thing is bound to happen eventually. Thanks for the inclusion!

  4. Bribes in Mexico? How surprising.

    Thanks for including our article!

  5. Glad to make such a selective list!

    I’m surprised we don’t hear more about this kind of stuff from Walmart. Where are the price fixing and monopoly allegations?

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