Seeking Alpha
Seeking Alpha Portfolio App for iPad
Finance
(1)
Market Currents

As part of a pledge to comply with Chinese law and the Fair Labor Association's standards, Apple...

  • Friday, March 30, 2012, 6:01 AM ET
    As part of a pledge to comply with Chinese law and the Fair Labor Association's standards, Apple (AAPL) and Foxconn forge an agreement in which the latter will hire tens of thousands of workers, halt illegal overtime, improve safety and upgrade workers' housing. The deal could have far-reaching effects for the rest of the sector.
Track new comments on this story

This news story has 3 comments:

  • "Complying with Chinese law" is easy--the law is whatever the ruling clique says it is.

    "Complying with U.S. law" is a lot trickier. For example, who would have thunk that the U.S. constitution contained requirements for taxpayer-funded condoms?
    30 Mar 2012, 09:30 AM Reply Like
  • We're going to end up hurting the Chinese worker more than help him. Report after report says those workers want as much overtime as possible. One said, "we're here to work not play." Now, we want to turn them into American style couch potatoes. Or they'll leave Foxconn for a less "compassionate" employer. One that will give them more overtime but unsafe conditions.
    30 Mar 2012, 05:49 PM Reply Like
  • They are going to raise the wages upwards of 20% from what I read, improve housing, among other things...the work is very mundasne...so if they reduce their hours down to the legal limit of 48 hours per week, while at same time giving them a nice raise, and just in general try to change certain things to make it more humane, I suspect that workers from other suppliers will want to work at Foxconn rather than where they are at now. I think what Mr. Cook is doing is only right...and will be adopted by other suppliers in Asia...I am proud to be associated with such a company via my APPL holdings..it is a win-win move by AAPL
    4 Apr 2012, 04:10 PM Reply Like
Other date
DJIA (DIA) S&P 500 (SPY)