Monday, April 23, 2012
Group: Wal-Mart must be probed
mexico city
Mexico’s federal government should investigate allegations of a vast bribery campaign by top executives of Wal-Mart’s Mexican subsidiary to build stores across the country, the head of a watchdog group said Sunday.
Eduardo Bohorquez, director of Transparencia Mexicana, said international conventions obligate Mexico’s government to get involved even though only local officials have been accused in the scandal.
Government officials have not commented on the allegations contained in a New York Times report published Saturday that said Wal-Mart Stores Inc. failed to notify law enforcement after its own investigators found evidence that millions of dollars in bribes had been paid in Mexico to spur the company’s rapid expansion there.
The Times said Wal-Mart shut down its internal probe despite a report by its lead investigator that Mexican and U.S. laws likely were violated by executives of its biggest foreign subsidiary, Wal-Mart de Mexico.
US school buses under investigation
detroit
The federal government is investigating 5,000 school buses from the 2008 model year that could stall without warning.
There have been no accidents or injuries reported.
But in at least three cases, high-pressure oil lines that connect the oil pump to the fuel injectors allegedly failed on International CE-brand buses.
The National Highway Traffic Safety Administration posted a notice about the investigation on its website Sunday.
In one case reported to NHTSA, a bus full of students was going 55 mph when it started smoking and stalled.
The driver pulled the bus to the side of the road.
International CE buses are made by Lisle, Ill.-based Navistar Inc.
A Navistar spokesperson did not immediately respond to an email requesting comment.
Associated Press
Selected local stocks
STOCK, DIVIDENDCLOSECHANGE
Aqua America, .66, 22.08 .23
Avalon Holdings,5.20—.15
Clear Channel, .77 72.76 .34
Cortland Bancorp, 8.54.04
Farmers Nat., .126.39 .01
First Energy, 2.20, 45.75.33
FirstMerit Corp., .64,16.33 .20
First Niles Financial, .32,8.05.00
First Place Fin., .59—.02
FNB Corp., .48,11.70.17
General Motors,23.60—.41
General Electric, .68,19.36.22
Motors Liquidation, .0422.00
Huntington Bank, .16, 6.55.105
JP Morgan Chase, 1.20,42.72—.50
Key Corp, .12,7.87—.04
LaFarge, 9.65 .05
Macy’s, .80, 39.10—.55
Parker Hannifin, 1.56, 82.791.21
PNC, 1.60,65.38.78
RTI Intl. Metals,22.67—.05
Simon Prop. Grp.,3.80,150.112.05
Stoneridge 8.23 —.08
United Community Fin. 1.57—.01
Selected prices at 4 p.m. Friday. Provided by Stifel Nicolaus. Not to be construed as an offer or recommendation to buy or sell any security.