Seeking Alpha
Seeking Alpha Portfolio App for iPad
Finance
(1)
Market Currents

Congressmen Elijah Cummings and Henry Waxman warn Wal-Mart (WMT +0.3%) in a letter that they...

  • Wednesday, August 15, 2012, 12:31 PM ET
    Congressmen Elijah Cummings and Henry Waxman warn Wal-Mart (WMT +0.3%) in a letter that they hold evidence of wrongdoing at the company's Mexico affiliate including tax evasion and money laundering. The finding from the pair of lawmakers is unrelated to any conclusions the DOJ may be making on the issue. On tap for Wal-Mart: Q2 results (earnings preview)
Track new comments on this story

This news story has 19 comments:

  •  
    Why in the world is the DOJ wasting its time and resources investigating a possible crime that happened by a Mexican affiliate in Mexico? These people amaze me.
    15 Aug 2012, 12:46 PM Reply Like
  •  
    cummings is leading the charge to conceal and cover-up fast & furious but he has the time to abuse his power to attack political opponents; he is bought and paid for by unions that hate WMT;
    so he is collecting evidence? sounds like harry reid
    15 Aug 2012, 01:37 PM Reply Like
  •  
    I am not sure what WMT has to do with F&F, but if you seriously want to know why large amounts of US purchased weapons find there way into MEX, here is a Fortune Mag. article which has been the best sourced research on the matter...ATF isn't the problem, it's the insane gun laws in AZ..from the article..."Customers can legally buy as many weapons as they want in Arizona as long as they're 18 or older and pass a criminal background check. There are no waiting periods and no need for permits, and buyers are allowed to resell the guns.... By 2009 the Sinaloa drug cartel had made Phoenix its gun supermarket and recruited young Americans as its designated shoppers or straw purchasers. Voth and his agents began investigating a group of buyers, some not even old enough to buy beer, whose members were plunking down as much as $20,000 in cash to purchase up to 20 semiautomatics at a time, and then delivering the weapons to others."
    Ask yourself an honest question...who is really protecting the lives of our uniformed officers...ATF or the NRA? As far as F&F, I don't think I have read so many comments.
    http://bit.ly/Oz4h9l
    Voth begged the AZ Atty Gen to prosecute before the deaths, but was ignored...and then he gets thrown under the bus by Issa.
    15 Aug 2012, 02:39 PM Reply Like
  •  
    waxman is useless
    15 Aug 2012, 12:58 PM Reply Like
  •  
    2 of the most corrupt and evil congressman around helping to attempt to destroy our economy
    15 Aug 2012, 01:18 PM Reply Like
  •  
    these 2 are fine with the shameful fast & furious coverup even though there are dead american agents; they are fine with national security secrets being leaked;
    15 Aug 2012, 01:19 PM Reply Like
  •  
    Our corrupt justice department at work.
    15 Aug 2012, 01:21 PM Reply Like
  •  
    waxman's primary source of political $ is from unions
    15 Aug 2012, 01:22 PM Reply Like
  •  
    cummings is #1 in public sector union contributions; 2nd in transportation union $
    what a corrupt administration abusing political power to attack political foes
    15 Aug 2012, 01:26 PM Reply Like
  •  
    WMT stock unchanged. Can't touch moat like WMT
    15 Aug 2012, 01:30 PM Reply Like
  •  
    Moat: a deep and wide trench around the rampart of a fortified place (as a castle) that is usually filled with water.....

    well, bad news flies nowadays.
    16 Aug 2012, 10:47 AM Reply Like
  •  
    "The competitive advantage that one company has over other companies in the same industry. This term was coined by renowned investor Warren Buffett."

    Read more: http://bit.ly/RVUjPA


    http://bit.ly/M4bQzr
    16 Aug 2012, 10:52 AM Reply Like
  •  
    Little people holding the POWER over Corporatism.

    It's in their hand when they VOTE.

    It's in their pocket book and purse when they SHOP.

    Even Sam knew that....

    ["There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else."] -Sam Walton

    and Sam even used the "he" word.

    The American consumers are wising up....

    1975 was the last year US had a trade surplus.
    Sam was in Seoul that year.
    Jimmy Hoffa disappeared that year.
    Wal-Mart took the hyphen out of Wal-Mart after Sam died and put a STAR in its place. They moved their Global Procurement Office to Hong Kong and than to China.....
    37 years of moving money cause Retail makes NOTHING it only moves money.....the fuel of a country to make something.
    OH! America has a 6 to 1 trade deficit with China today....5 dollars stay in China....1 comes back...

    and...

    Wal*Mart puts less than 5% foreign in all their stores in China...
    just where do you think most of those Mao's(yuan) go...

    Good day!!!
    16 Aug 2012, 11:04 AM Reply Like
  •  
    Cummings is just another shakedown "politician" or civil rights acticivist like Jesse Jackson and Al Sharpton...Corrupt as they come...speaking of Jesse...where is little Jesse hiding out these days?? As for Waxman......he's the worst! Typical California liberal non working man

    I wish WMT would do a number on those 2! I'm confiedent they could did up plenty of dirt! And maybe some pictures too!
    15 Aug 2012, 02:19 PM Reply Like
  •  
    Mexico has a way different way of doing business. Back in 2003 I was doing a job with then SBC who became T, the manager I was working with had just returned from a visit to Mexico since they owned a portion of the telecom serving Mexico. This manager attended a pre-bid meeting where the Telecom Contract Admin sat in his car and waited for each contractor to show up. As they all showed up each one gave the CA an envelope. The contractor that gave the largest bribe won the job!
    15 Aug 2012, 02:23 PM Reply Like
  •  
    you wont see cummings or waxman investigating GEs business with iran
    15 Aug 2012, 02:35 PM Reply Like
  •  
    psst!!!!!

    http://bit.ly/PfDxug

    Banco Wal*Mart has to be regulated.....right!!

    duh!

    but regulators in Mexico don't do it cause it be own by Wal*Mart in America....

    so that means regulators in America does it....right!!

    duh!


    duh!


    duh!


    well?
    16 Aug 2012, 10:51 AM Reply Like
  •  
    WalMex is a seperate corporation, owned in part by WalMart, but not fully. Therefore, your duh! Duh! duh! well's dont hold up to Mexican or American law.
    Each corporation is handled as it's own entity per the law of each country.
    Keep digging though, you might be on to something
    16 Aug 2012, 12:38 PM Reply Like
  •  
    I say BRAVO to congressmen Cummings & Waxman - and suggest they enact a multi year on site audit in Mexico - at least they would be out of the USA.
    17 Aug 2012, 10:11 AM Reply Like
LATEST|
TODAY SO FAR|
YESTERDAY
Other date
DJIA (DIA) S&P 500 (SPY)
Latest Consumer Articles
More Latest Articles »