Federal grand jury focuses on Wal-Mart

[NVMojo]

CHICAGO -- Wal-Mart Stores Inc., which has been on a mission to rehabilitate its public image, suffered a setback Friday when it confirmed it is the subject of a federal grand jury investigation.

The probe involves accusations that the former vice chairman at the world's biggest retailer misspent up to $500,000 -- some of it allegedly for widely criticized anti-union activity.

"We're aware that there's an investigation," said Wal-Mart spokesman Marty Heires on Friday. "We're cooperating." He wouldn't say whether any Wal-Mart workers or documents had been subpoenaed.

Wal-Mart stock on Friday fell 2 percent, or 97 cents, to $46.81, nearly its lowest close in two years.

On March 25, former vice chairman Tom Coughlin retired from Wal-Mart's board amid an internal investigation over personal reimbursements, payment of third-party invoices and the use of company gift cards.

Wal-Mart referred the matter to a U.S. attorney's office in Arkansas. The resulting investigation by federal prosecutors is the latest blemish to show up on the $285 billion discount chain.

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http://www.indystar.com/apps/pbcs.dll/article?AID=/20050423/BUSINESS/504230389/1003

[Zorra]

1. Major corporate funding source for the GOP spent $500K to bust unions?

Another reason to boycott Wal-mart.

"Wal-Mart stock on Friday fell 2 percent, or 97 cents, to $46.81, nearly its lowest close in two years."

[Theduckno2]

2. If Wal-Mart is guilty, I hope they get their just punishment.

I just worry that the Repugs may become concerned with all the activist grand jurors that there appear to be!:) How dare those grand jurors interfere with the Repug's two favorite pastimes; creative accounting and union-busting. Look for an activist screening test for prospective jurors; to be administered by the Office of Faith Based Initiatives.:) As for Wal-Mart, the All-American company (just as American as the merchandise they evidently sell, I won't shop there), I think they could do with some bad press.