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Wal-Mart (WMT) says it won't sign an accord with European retailers over factory safety in...

Wal-Mart (WMT) says it won't sign an accord with European retailers over factory safety in Bangladesh, but will implement its own policies aimed at preventing the type of tragic factory collapse which killed more than a thousand workers last month. The company says it will conduct detailed safety inspections of all 279 factories it uses in Bangladesh and publish the results on its website. WMT +0.2% premarket.
Comments (2)
  • wigit5
    , contributor
    Comments (3982) | Send Message
     
    oh yes because walmart is so good at policing itself...
    15 May 2013, 08:37 AM Reply Like
  • samsptl
    , contributor
    Comments (27) | Send Message
     
    EU businesses aren't any better at policing themselves.

     

    Remember, it is the EU that directed Cyprus banks to seize privately owned assets on deposit in order to "resolve" the financial crisis there that began in the private sector.
    Businesses here in America have their own issues with safety compliance. If they didn't, there would be no need to spend billions of taxpayer money for the operation of federal and state OSHA agencies.

     

    WMTs method of enforcing its contracts (that include safety compliance) is certain and swift. One day you are a supplier to the largest retailer in the world, and the next day you aren't - because you violated the provisions of the contract. WMTs intended method of self policing is to publish its findings to the world. Knowing full well there is an army of WMT detractors/haters that will pick those results apart looking for any fault.

     

    As a manufacturer, I require those that want to be my suppliers to meet my conditions. Not the conditions of some other manufacturer. I may have like or similar conditions, but they are mine. Conditions can be safety, quality, price, delivery, and compliance with laws and statutes and standards of conduction business. If as a supplier you choose not to meet those conditions, you do in fact lose my business. In some cases before I have even located someone to take your place. And by the way, don't expect me to pay for your costs to comply with the provisions of our contract. That's the cost of being in business and should be factored into your price to me.
    15 May 2013, 09:42 AM Reply Like
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