Jun 24, 2009

You can't sell furniture for pennies AND pay bribes


It's just not good business. According to the New York Times, it seems that Ikea is pulling out of Russia, because of rampant corruption in business. In a radio interview, Ikea’s 83-year-old founder said that Ikea had decided not to solve problems by slipping money under the table.

The decision is particularly damning for Russia because Ikea runs outlets in dozens of countries around the world and is hardly thin-skinned when it comes to dealing with bureaucracies.

Yeah some other countries where Ikea operates: Italy, Kuwait, Singapore, and China. Come on, Russia.

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