EDITORIAL: Walmart to Russia — Drop Dead!

EDITORIAL

Walmart to Russia — Drop Dead!

We congratulate the executives at Walmart Inc. on their wisdom in deciding to reject the Russian market.  We encourage the very small number of other Western companies who are considering investment in Russia, or who are already there, to do likewise.  Western firms that do business in Russia are supporting the rise of a neo-Soviet state and therefore they are both undermining democracy in Russia, destroying the future of Russia’s children, and helping to create a dire new threat to the security of the West.  History will judge them harshly, and conscientious Western citizens should boycott any firm they know to be doing business in Russia in order to send a clear message that such support is intolerable.

That’s to say nothing, of course, of the appalling risks of doing business in the KGB state run by proud KGB spy Vladimir Putin.

Putin’s Russia is one of the most corrupt and dangerous on the planet. Murder is used as a tool of business and politics just as if the country were run by a mafia clan.  Bribery is rampant, and the government can seize any asset any time it likes, because there is no redress in court.  At any moment, any Western businessman could become the next William Browder, the next Mikhail Khodorkovsky, the next Sergei Magnitsky.  Or one could simply be caught up in the crazed race riots that are now sweeping the country after virulent Russian nationalism has been encouraged by the demonic figures who prowl the Kremlin.  Or burned up in a fire, killed on the shockingly dangerous roadways, or victimized by incompetent medical practice. The list of hazards is endless and appalling.

The executives at Walmart obviously understood all this.  Seeing the horrific experiences of IKEA, they have wisely decided not to subject their stockholders to the scorn and ridicule of freedom-loving people across the globe or to the outrageous risks presented by the Russian market.  We welcome their decision, and now consider ourselves proud Walmart shoppers.

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3 responses to “EDITORIAL: Walmart to Russia — Drop Dead!

  1. “The world’s biggest retailer is leaving Russia empty-handed. Walmart announced on Monday that it is closing its Moscow office, saying that – for now at least – it does not see any potential takeover targets there that would justify the notoriously cost-conscious retailer leaving the office lights on.

    The move ends almost three years of very public pursuit of a deal in Russia that began with the appointment in early 2008 of Stephan Fanderl, a former executive with Metro, the German retailer that is one of Walmart’s global rivals, with the job of looking for takeover targets in Russia and eastern and central Europe.

    Mr Fanderl moved on in early 2009, but the US retailer seemed to remain optimistic. Last year, a member of its Moscow office even gave a brief presentation on the potential opportunities in Russia to its annual shareholders’ meeting, dressed in Russian national costume.

    Earlier this year, Walmart was widely reported to be in talks about a possible takeover of Lenta, which operates a chain of hypermarkets, and whose shareholders include TPG, the private equity group, and the European Bank for Reconstruction and Development. But prospects of a deal there dimmed in September when a dispute between rival shareholder groups over the CEO’s position led to a violent fracas at its annual meeting.

    News of Walmart’s Moscow office closure came a week after Russia’s X5, part of the Alfa Group, announced a $1.7bn deal for Kopeika, a discount store chain, suggesting that Kopeika may have been the last potential target for the Americans.

    Walmart remained characteristically upbeat about the potential of the Russian market, leaving open the possibility of a deal sometime in the future.”

  2. Pingback: “Walmart to Russia – Drop Dead” « Cyber Cossack

  3. Stupidity. What was/is the connection between the sale business and the mentioned political “reasons” and “supporting regime” ? Said “Lenta” Group, which was on the target of Walmart is a non-state company and is doing well with other EU investors. Walmart simply f’ked up investments competiotion…
    PS: mentioned IKEA runs their business in Russia very-very well today…

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