Tuesday, May 28, 2013

Wal-Mart gets dinged by $81 million fine, some of it stemming from Missouri crimes

Posted By on Tue, May 28, 2013 at 5:55 PM

Wal-Mart spent a tough day in court, but fines wont hurt its pocketbook
  • Wal-Mart spent a tough day in court, but fines won't hurt its pocketbook

Wal-Mart settled up on three criminal lawsuits on Tuesday, one of them coming out of Kansas City.

In all, the massive retailer will pay out $81.6 million in fines for various environmental transgressions.

Wal-Mart admitted guilt to charges in Kansas City federal court that it sent 2 million pounds worth of regulated products like liquid pesticides from its return centers to a Neosho, Missouri-based recycling company called Greenleaf LLC, which then mixed them together and sold them back to customers in violation of federal laws.

Greenleaf itself paid a $200,000 penalty in 2009.

For those violations, Wal-Mart must pay $11 million in fines to the feds plus a $3 million fine to the Missouri Department of Natural Resources for its pesticide regulation program.

"This tough financial penalty holds Wal-Mart accountable for its reckless and illegal business practices that threatened both the public and the environment," said Tammy Dickinson, U.S. Attorney for the Western District of Missouri, in a statement from the Justice Department. "Truckloads of hazardous products, including more than 2 million pounds of pesticides, were improperly handled under Wal-Mart's contract. Today's criminal fine should send a message to companies of all sizes that they will be held accountable to follow federal environmental laws."

The $81.6 million in aggregate fines may sound like a tough penalty, but Wal-Mart's 2012 annual report said it made $443.9 billion in net sales last year, which means it makes about $121.6 million a day.

The retailer will have paid off the fines not long after lunch time tomorrow.

Tags: , , ,

Comments

Showing 1-1 of 1

Add a comment

 
Subscribe to this thread:
Showing 1-1 of 1

Add a comment

Most Popular Stories

Slideshows

All contents ©2015 Kansas City Pitch LLC
All rights reserved. No part of this service may be reproduced in any form without the express written permission of Kansas City Pitch LLC,
except that an individual may download and/or forward articles via email to a reasonable number of recipients for personal, non-commercial purposes.

All contents © 2012 SouthComm, Inc. 210 12th Ave S. Ste. 100, Nashville, TN 37203. (615) 244-7989.
All rights reserved. No part of this service may be reproduced in any form without the express written permission of SouthComm, Inc.
except that an individual may download and/or forward articles via email to a reasonable number of recipients for personal, non-commercial purposes.
Website powered by Foundation