2012
Yes, it does pay to be good
If you remain unconvinced by our evidence that the “good guys” finish first, the beating that Wal Mart is currently taking should push you a little closer to that point of view.
My rough calculations indicate that the New York Times’ recent exposé on Wal Mart’s cover up of corrupt activities in its Mexico division has cost its shareholders over $19 billion in the last few days (which doesn’t even include losses from Wal Mart de Mexico, which trades separately).
Combine that with the $2 billion loss that Goldman Sachs’ shareholders incurred in the immediate aftermath of Greg Smith’s op ed piece on “Why I Am Leaving Goldman Sachs” and the ongoing loss that BP’s shareholders have incurred relative to the industry following the Gulf of Mexico disaster, and the picture seems pretty clear.
Greedy behavior is being severely punished, and by default, good behavior has its just rewards.