Corruption in Argentina

[Rock Harders]

Mongers-.

RL is being prosecuted in the US because their stock is traded on the NYSE and they are in violation of the Foreign Corrupt Practices Act, which makes it illegal for US-listed companies to bribe foreign officials.

Suerte,

Rock Harders.

Oddest of all is why are they being charged in the US instead of in Argentina where presumably the "crime" took place.

It's standard operating procedure for US prosecutors to shake down taxpayers to avoid court, runs like the protection rackets of old.

[Gandolf50]

Oddest of all is why are they being charged in the US instead of in Argentina where presumably the "crime" took place.

It's standard operating procedure for US prosecutors to shake down taxpayers to avoid court, runs like the protection rackets of old.

Probably because the complainants are now in California and not in Argentina.

[Canardly]

Oddest of all is why are they being charged in the US instead of in Argentina where presumably the "crime" took place.

It's standard operating procedure for US prosecutors to shake down taxpayers to avoid court, runs like the protection rackets of old.

[DavieW]

WTF? Ralph Lauren pay a few hundred thou to facilitate importation to Argentina and they're prosecuted in the US?

It is odd isn't it?

Although even odder that they can then pay a bribe, no, sorry, "a fine", to _avoid_ the prosecution.

[Canardly]

WTF? Ralph Lauren pay a few hundred thou to facilitate importation to Argentina and they're prosecuted in the US?

Should have made political contributions in the US as well.

[Kevins]

Expats living on pesos are doing better? Its true the dollar is trading at thirty percent above the official rate, but what good does that do you when prices are 2 to 3 times more expensive here then in the US of A? For example, here a pair of levis sell for 600 pesos and up. In Walmart. Com with tax and shipped to your house its around 20 dollars? Thats five times more expensive here. Not to mention they are probably selling you "levis" "Hecho en China!"

I meant that I like a few other expats earning in pesos are really havong a difficult time as each month we earn less...

I hope that is clear enough.

[Jim Mac]

Here's another example of business in Argentina:

http://en.mercopress.com/2013/04/23/...ing-surcharges

[DavieW]

Ralph Lauren Corp. has agreed to pay $1.6 million after finding that its subsidiary in Argentina repeatedly bribed customs officials, federal authorities announced Monday.

http://money.cnn.com/2013/04/22/news...auren-bribery/

And then they're allowed to BUY their way out of prosecution?

Ha, ha! There's some good old American justice for you!

:winky:

[TejanoLibre]

Ralph Lauren Corp. has agreed to pay $1.6 million after finding that its subsidiary in Argentina repeatedly bribed customs officials, federal authorities announced Monday.

http://money.cnn.com/2013/04/22/news...auren-bribery/

The Ralph Lauren Store in Recoleta in front of the Alvear Palace Hotel and next to Black is a GORGEOUS Mansion that if it's for sale should be worth well over 5 million DOLLARS. Easy!

The building is closed as the Ralph Lauren Shop. Spectacular!

That street is or was full of high-end shops but most of them have left:

Armani.

Ralph Lauren.

Hermes?

Louis Viton?

Empty Shops or replaced by some very optimistic fools or money launderers.

TL.

Oh what a cat-house the Ralph Lauren Pad would make!

[PickCherry12]

Ralph Lauren Corp. has agreed to pay $1.6 million after finding that its subsidiary in Argentina repeatedly bribed customs officials, federal authorities announced Monday.

http://money.cnn.com/2013/04/22/news...auren-bribery/

[Mountaineer]

Expats living on pesos are doing better? Its true the dollar is trading at thirty percent above the official rate, but what good does that do you when prices are 2 to 3 times more expensive here then in the US of A? For example, here a pair of levis sell for 600 pesos and up. In Walmart. Com with tax and shipped to your house its around 20 dollars? Thats five times more expensive here. Not to mention they are probably selling you "levis" "Hecho en China!"

My taxi driver said Americans visiting for vacation do well with increasing exchange rates, because it only takes a snapshot of a temporary window. He says ExPats retiring here are getting killed the same as all all local Argentine residents. He said when the rates jumps from 4 to 5 to 6, all the food, wine, gas, restaurants, and apt rents change to match within 90 days so you gain absolutely nothing. He said the best thing for anyone but short term visitors is a solid 2 to 1 rate.

[Dickhead]

Thank you, Sidney, for just posting the link. It's much better!

[Member #3320]

But the streets look really deary.

I was walking on the street yesterday in CF. All the shops look so old. Selling old cameras, stupid handbags and shoes for 900 pesos, the mall in Alto palermo is a junk yard. Its shocking that the country is lagging behind so much compared to other countries of South America.

I am curious, how this compares to prices & quality of what is available in other countries of South America.

[Gandolf50]

Think you misread it below. People weren't saying expats living on pesos are doing better. The implication was expats on dollars are better but that expats on pesos are feeling pain.

But your levis example is bit odd. If your budget is such that the prices you mentioned are a difficulty, why even include levis? You can buy much cheaper local brand jeans as a barometer of how far your peso budget stretches. Comparing local living costs against an imported item like levis is like saying it's costly to live in california because you compared the imported chianti wine prices rather than local napa / sonoma wines.

What you say is true. But its not that I can't afford to buy Levis here, Its just a 50 50 chance you will end up with Levis and not some rip off. Plus while local jeans can be bought for about 150pesos. You wash them 10 times and then you need to go buy new ones. Ill stick with Levis, Wranglers, etc.

[Mpexy]

Expats living on pesos are doing better? Its true the dollar is trading at thirty percent above the official rate, but what good does that do you when prices are 2 to 3 times more expensive here then in the US of A? For example, here a pair of levis sell for 600 pesos and up. In Walmart. Com with tax and shipped to your house its around 20 dollars? Thats five times more expensive here. Not to mention they are probably selling you "levis" "Hecho en China!"

Think you misread it below. People weren't saying expats living on pesos are doing better. The implication was expats on dollars are better but that expats on pesos are feeling pain.

But your levis example is bit odd. If your budget is such that the prices you mentioned are a difficulty, why even include levis? You can buy much cheaper local brand jeans as a barometer of how far your peso budget stretches. Comparing local living costs against an imported item like levis is like saying it's costly to live in california because you compared the imported chianti wine prices rather than local napa / sonoma wines.