[quote=michael]Wal-Mart is a great example of free market capitalism.
[/quote]
For example?
* Giving Inaccurate Testimony to FDIC. In an effort to advance its bid to open in-store ‘industrial’ banks, Wal-Mart gave regulators misleading statements about whether the company could muscle out the traditional banks already based in its stores. Wal-Mart told the Federal Depository Insurance Corporation — the nation’s bank regulator — that long-term leases with banks blocked Wal-Mart from moving into commercial banking, because the “leases signed by banks were renewed at the discretion of the banks alone.” After a report by Reuters, however, forced Wal-Mart to admit that leases with at least some banks could be renewed only if both the banks and Wal-Mart approve. Rep. Paul Gillmor (R-Ohio), a member of the House Financial Services Committee, said: “We are beginning to see a pattern of misleading or false statements from Wal-Mart with regard to their interests in branch banking.” [Reuters, 5/9/06; Cox News Service, 5/11/06]
* Sanctioned for Unethical Trial Practices. An October 1999 article in Corporate Counsel magazine cited “two dozen cases during the past 18 months” in which Wal-Mart had been sanctioned for discovery abuse, including one $18 million fine. In Texas, a judge who imposed sanctions for discovery abuse said: “Unfortunately, nefarious conduct is all too common in lawsuits in which Wal-Mart is a party.” [Wilson v. Wal-Mart Stores Inc., 199 F.R.D. 207, 208 (S.D. Tex. 2001); ABA Journal, March 2002]
