IBM Settles Bribery Charge With $10 Million

[Marcus Yam]

Money, money, money / Must be funny / In the rich man's world

IBM Settles Bribery Charge With $10 Million : Read more

 

[bigman8291]

Lol @ IBM

 

[alyon]

Big surprise. Business ethics in Korea/China are almost non-existent.

Funny fact: Almost all Korean owned nail salons and dry cleaners tax evade. I get to look at many of their private statements... lets just say with their claimed income paying rent would not be possible but the amount is always paid. Usually they do this by not claiming all business done in cash.

 

[jkflipflop98]

I like how the punishment for bribery is a forced bribe.

 

[shloader]

I've no doubt that they made more than that through the deal. Someone else just wanted a cut and going through the SEC keeps it on the up and up.

 

[dEAne]

Yeah, because of money you can make a man walk barefoot into hell.

 

[alidan]

[citation][nom]dEAne[/nom]Yeah, because of money you can make a man walk barefoot into hell.[/citation] ill walk barefoot into hell if you pay me enough

 

[back_by_demand]

[citation][nom]alidan[/nom]ill walk barefoot into hell if you pay me enough[/citation]
I'll drive there you in my sin-wagon

 

[neiroatopelcc]

Bribery is common place in those parts of the world really. I once knew a person working for twinnings' indian branch, and they've set up specific budgets for bribery (mostly to ensure their packages don't get lost in transit I'm sure)

 

[NewJohnny]

Oh, the irony. Want to do something illegal? Incorporate.

 

[TheDuke]

They probably made more money off the benefits of the dealings overall than this fine.

 

[csuwrx]

lol @ ABBA's reference in the tittle xD

 

[webbwbb]

What I find to be strange is that a US government agency is fining them for actions that may or may not be illegal in the countries in which they were committed. It seem to me that they should only be able to fine them if those things were done in the US..

 

[wawa sxm]

its more open in those countries but bribes do exist in the usa dt fool yourselves, its just more exclusive and corporate

 

[ubercake]

Paying people off to settle a bribe...

Makes perfect sense.

 

[rohitbaran]

10 million? What is it, like 10 cents to them!

 

[pelov]

[citation][nom]wawa sxm[/nom]its more open in those countries but bribes do exist in the usa dt fool yourselves, its just more exclusive and corporate[/citation]

Yea, we have a name for that: Lobbying.

 

[Onus]

You can do anything you like, legal or otherwise, as long as you pay the right parasites. Pay first, it's a bribe; pay after, it's a fine (or a tax).

 

[milktea]

That is why Politics and Businesses must coexists. No money, no power.

 

[mikem_90]

[citation][nom]pelov[/nom]Yea, we have a name for that: Lobbying.[/citation]

Damn Straight. There's not as much money in an envelope style bribery in big business inside the US these days. Most of it is done by taking a consulting job with a company later on. Do enough for a company? Get a job later on for a few years being paid to do nothing. Hell, I bet they even write up your reports for the IRS.

 

[jalek]

That's just how business is done there, the SEC must've been jealous.

 

[Guest]

Re. Alyon's comment ("Big surprise. Business ethics in ...China are almost non-existent"), absolutely true. Chinese business is *FOUNDED* on a culture of instant/selfish gain (rather than long-term/cooperative benefit). "Relationship! Relationship!" I'm sick of hearing it. We're owed forty-thousand dollars. Once labor in China ceases to be "free," and external costs (like *&%^% on the earth) become realized, China may remain a great market, but it will become a crappy producer as the "true cost" of cockamamie Chinese business practices are realized.

 

[ikefu]

The fine is actually because the bribes paid to Chinese officials was bigger than the bribes paid to the SEC guys and they were mad.

Ever wonder how congressmen afford private jets and mansions on 400k a year? Its a good wage but not nearly enough for the lifestyles they have.

 

[x4dm]

New headline:
IBM pays $10M to have US government "forgive" bribery charges.

 

[f-14]

i guess the SEC doesn't understand how the rest of the world works, look at what america had to do in iraq, afganista and pakistan just to go in and do something that needed to be done. 660million a year total