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Jeez-Louise..Walmart would execute this guy if they could

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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 04:26 AM
Original message
Jeez-Louise..Walmart would execute this guy if they could
I am not condoning what he did./.but yikes....


http://quote.bloomberg.com/apps/news?pid=10000103&sid=a...

Wal-Mart Sues Coughlin Over Fake Expenses; $17 for Dog Chow
July 28 (Bloomberg) -- Thomas Coughlin, who was paid more than $15 million as Wal-Mart Stores Inc.'s vice chairman in the last two years, looted the company of hundreds of thousands of dollars to reimburse himself for personal items ranging from underwear to puppy chow, the company claims in a lawsuit.

snip

The 124-page suit claims Coughlin and ``a small group of carefully loyal subordinates'' misappropriated ``hundreds of thousands of dollars and property for his personal benefit through various schemes'' including forged invoices and corporate gift cards meant to reward workers. It details the lengths the world's largest retailer went to root out the alleged wrongdoing and report it to authorities including the U.S. Attorney in Fort Smith, Arkansas, after an internal probe.

snip...

Wal-Mart stripped Coughlin last month of his retirement benefits after concluding he engaged in misconduct for using company funds for his own benefit. Coughlin won't receive 186,407 shares of restricted stock and 302,503 stock options, according to a company regulatory filing.

`Another Step'

The Wal-Mart suit is ``another step in its relentless campaign to discredit a man who dedicated his life to the company and its employees for 27 years,'' Coughlin's lawyers, William Taylor and Blair G. Brown of the firm Zuckerman Spaeder in Washington, said in a statement yesterday. ``Wal-Mart has used its unlimited resources to mount an attack on Mr. Coughlin while denying him any meaningful opportunity to defend himself.''

snip...


Several pages of the suit demonstrate Coughlin's spending, all of it at Wal-Mart, which had sales last year of $285 billion. On July 24, 2004, Coughlin used gift cards to buy dry dog food twice among purchases totaling $139.32 and $17.52 and including other items such as mango salsa, beef jerky and Tang, the complaint said.

Tortillas, Tang

On Sept. 26, 2004, he used $50.79 in gift cards to buy tortillas, butter, Tang, produce, hamburger and other items. On Feb. 3, 2005, his spending included $48.11 for dog chow and a tote, the company said.

snip....

The former executive told Wal-Mart investigators that he was using the money for ``union activity,'' the complaint said. The United Food and Commercial Workers union has unsuccessfully tried to organize stores in the past. Wal-Mart said its investigation found no evidence of such activity on Coughlin's part.

snip...

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elperromagico Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 04:37 AM
Response to Original message
1. Good Lord! An executive at a major corporation did something wrong?
This is a shocker! I thought they were all honest, upright members of their communities. :sarcasm:
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no_hypocrisy Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 05:06 AM
Response to Original message
2. Taking away his status and his wealth is tantamount to execution in this
society . . .
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Maraya1969 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 05:08 AM
Response to Original message
3. But remember Walmart's pharmacists don't have to dispense
birth control. That should redemption for them. :sarcasm:

They want 15 million for hundreds of thousands stolen by several people? Greedy as always.
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