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Wal-Mart: Loss from bribery probe likely

BY Katherine Boccaccio

Bentonville, Ark. — Wal-Mart Stores Inc. revealed in a Tuesday SEC filing that it will most likely incur a loss from bribery probes into its operations in Mexico and other countries.

According to the filing, Wal-Mart said it expects to incur costs beyond the $157 million it spent on the probes in 2013, but didn’t elaborate on the amount or the size of the potential loss.

"Given the on-going nature and complexity of the review, inquiries and investigations, we cannot reasonably estimate any loss or range of loss that may arise from these matters," Wal-Mart said in the filing.

The allegations of bribery surfaced last April, with claims that Wal-Mart neglected to notify law enforcement that company officials authorized millions of dollars in payments in Mexico to speed up getting building permits and gain other favors. The Foreign Corrupt Practices Act forbids American companies from bribing foreign officials. Wal-Mart launched an internal investigation and is cooperating with government officials in the U.S. and Mexico.

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S.Gacho says:
Mar-28-2013 01:59 am

Bribery usually happens in the business world especially when a lot of competition arise. Well, you will never fail if you are a good fighter. - Rich Von

S.Gacho says:
Mar-28-2013 01:59 am

Bribery usually happens in the business world especially when a lot of competition arise. Well, you will never fail if you are a good fighter. - Rich Von

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Cache.com engages SLI Systems to implement site search

BY Katherine Boccaccio

San Jose, Calif. — SLI Systems said Wednesday that Cache has implemented its full-service Learning Search solution for Cache.com, resulting in an 88% increase in the conversion rate among site search users.

The company, said SLI, has also seen a 42% increase in site search usage by its online visitors, driving more sales and revenues.

Cache.com is also using SLI’s Rich Auto Complete tool, which automatically shows images of products and search term suggestions once visitors begin typing in keywords; and refinements that allow visitors to search by material, fit, occasion, and specific collections. Cache.com replaced its previous Google-based site search.

"We’re constantly competing with department stores and other online apparel retailers for the attention of fashion-conscious shoppers," said Kevin Metz , VP e-commerce, Cache. "By improving the customer experience with SLI’s site search and all of its added features like Rich Auto Complete, our site is a bigger draw for apparel shoppers and helps us foster more customer loyalty, while also improving conversions."

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S.Gacho says:
Mar-28-2013 01:51 am

When you want a business in the internet world. There are a lot of ways in order to make it better it just need close monitoring. - Steven Wyer

S.Gacho says:
Mar-28-2013 01:51 am

When you want a business in the internet world. There are a lot of ways in order to make it better it just need close monitoring. - Steven Wyer

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Academy Service Group sells Academy Fire Protection

BY Staff Writer

Hackensack, N.J. — Academy Service Group, nationwide provider of facility maintenance services, announced Wednesday that it has sold Academy Fire Protection to a California-based private equity firm.

Academy Service Group said it will continue to provide pest control, cleaning, janitorial, plumbing, handyman and general maintenance services to its portfolio of multi-site facilities and chain store clients. Michael Rose, CEO of Academy Service Group, and John Della Marco, president, will continue to grow the facilities maintenance companies they control: Veterans Worldwide Maintenance, Amazing! Pest Control, Nationwide Cleaners and The Paint Folks.

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S.Gacho says:
Mar-28-2013 01:53 am

This kind of business is really practical, well because of its practicality a lot of consumers would really bite it. Those business people wants to have this. - Steven Wyer

S.Gacho says:
Mar-28-2013 01:53 am

This kind of business is really practical, well because of its practicality a lot of consumers would really bite it. Those business people wants to have this. - Steven Wyer

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