retail news in context, analysis with attitude

Bloomberg Businessweek reports that "thanks to Walmart’s first-ever Global Compliance Report, we … know how much the company has spent on improving its anti-corruption program and financial controls: more than $109 million. That figure will grow, too. In February, Walmart estimated that its bribery probe and compliance costs would total $200 million to $240 million for the year."

The story goes on: "What has Walmart got for the money? According to the report, it now has a 2,000-person compliance infrastructure that includes a new global chief compliance officer, a global anti-corruption officer, and 10 chief compliance officers for specific markets, as well as regional officers and one for global e-commerce. The company also has executives with expertise in money-laundering regulations, licenses and permits, food safety, and 11 other areas. It has begun appointing monitors in all its international markets."
KC's View:
Just wait until the indictments come down. If they come down. Which probably becomes less likely with every passing day, as lobbyists have a chance to game the system.