Coughlin Expected to Plead Guilty to Greed
By George Anderson
Some people simply can’t get enough even when they’re getting millions.
In apparently another in a long line of cases of business leaders run amok, the former number two at Wal-Mart, Tom Coughlin, is expected to plead guilty later this month to federal crimes including wire fraud and tax evasion, according to a report by The Wall Street Journal.
Mr. Coughlin has been accused by Wal-Mart of misusing company funds through fraudulent reimbursements for his own personal purposes.
The former vice chairman of Wal-Mart initially sold the scheme to subordinates as a secret union busting campaign by the company. He reiterated that charge when his alleged misdeeds came to light.
The New York Times reports the company’s aggressive anti-union position made Mr. Coughlin’s accusations seem plausible to many but, ultimately, it appears he was unable to back up his claims with proof.
Moderator’s Comment: What will a guilty plea by Tom Coughlin mean for the public’s perception of Wal-Mart? How does the public perception of Wal-Mart
affect the company’s performance? –
George Anderson – Moderator
- Former No. 2 At Wal-Mart Set To Plead Guilty – The Wall Street Journal (sub. required)
- Was Wal-Mart’s Anti-Union Image Used as a Shield? – The New York Times