"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Wednesday, April 25, 2012

Socialist Obama attacks job creating Wal-Mart

A Hugo Chavez Government in the U.S.
A Leftist Socialist Obama attack on businesses that dare to create jobs and wealth
  • 2000   -   In the year 2000 under a more pro-business Bill Clinton, zero cases were filed against American businesses regarding "bribery" in foreign nations.
  • 2010   -   Under Comrade Obama over two dozen cases against businesses were filed in a mafia-style shakedown.
  • Instead of using company money to create new jobs, Wal-Mart could pay hundreds of millions of dollars in legal expenses and penalties.

In a full-throated, red flag waving attack on capitalism, Comrade Obama's "Justice" Department is attacking dozens of companies on vague Federal charges of using bribery in foreign nations (yawn) to get their business started.

Oh horror of horrors!  Do you mean to tell me that bribery is needed in many nations to get things done?  Who would have thought it possible?  How will I manage to sleep tonight?

Never mind that every member of our Congress has their hand out for "legal bribe money" in the form of campaign contributions.  And that city halls and state government in the U.S. have a pay to play program for American businesses.

The Marxist Federal Justice Department is forcing Wal-Mart to take time away from their main job of creating jobs and wealth in order to defend itself regarding possible bribery campaign in Mexico.Wal-Mart could pay hundreds of millions of dollars in legal expenses and penalties.

To cover their asses, Wal-Mart said it was in the midst of a "worldwide review of our anti-corruption program" and had increased efforts to prevent corruption in Mexico. The Bentonville, Ark., company is looking into allegations that it engaged in a multiyear bribery campaign to build its business reports the Los Angeles Times.

The allegations come at a time when the Marxist Justice Department has been looking for business targets in a pretend "crack down" on foreign corruption.  It is really a Federal mafia-style shakedown of business. 

The Justice Department filed some two dozen cases against U.S. companies in 2010, compared with none a decade earlier.

"You have an incredible amount of legal challenges that are going to take part as a result of these failures," said James Post, a business management professor at Boston University. 

He said Wal-Mart also faces shareholder lawsuits, along with criminal charges and potential action by the Securities and Exchange Commission.

Wal-Mart's Mexican subsidiary might have paid $24 million in bribes in order to speed the approval of new stores in Mexico, according to a report from the New York Times. Wal-Mart operates more than 2,000 locations in Mexico, its largest foreign presence.

The bribery allegations "will be used against the company by activists and companies when it attempts to open stores in the U.S. and abroad, and could make it more difficult to attract management talent in international markets," BMO Capital Markets analyst Wayne Hood said.

Enforcement of the law has become such a concern to business that the U.S. Chamber of Commerce has lobbied for changes. It says that the law is vague and might discourage business.

Luis Tellez, head of the stock market in Mexico, defended Wal-Mart's performance. He said the retailer has met the market's financial reporting requirements and boosted the Mexican economy by creating jobs.

"Without doubt it has generated wealth in terms of work, wages for its employees and in terms of giving Mexican consumers shopping opportunities at low prices," Tellez said.

(Los Angeles Times)

A Wal-Mart Superstore in Mexico City.
The Socialist Democrats in the Obama regime have charged Wal-Mart and other companies with bribery in Mexico.  The Obama Beltway Marxists want to keep these companies tied up for years in ultra-expensive legal battles instead of letting them alone to create new jobs and wealth. 

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