Accounting & Investing Info for San Antonio A & M
Wed October 17 2012 Now Foxconn is having trouble assembling and supplying Apple with the iPhone 5. The result is that Apple stock is dropping as the expected 50 Million Sales in this quarter are not happening.
This is the same company that had to put bars on the windows to slow the number of suicides. One would think that would be a tip off of trouble ahead. At anyrate I suspect this is a wake upcall to spread the supply chain out to other places.
Maybe someone should come up with an app that stops people from jumping.
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I would not have predicted this outcome for Foxconn or any of the other companies within China that stepped forward to provide cheap labor to US corporations. It is gratifying to know that (albeit many years later) a price is being paid for the greed that consumed American companies and drove them to take their manufacturing operations to China. It is sad that part of that price is a host of suicides committed by down-trodden Chinese workers. A company’s drive for profits has to be balanced by an appreciation for ethical, moral, and compassionate policies. Otherwise, no amount of profit will be seen as enough.
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Mr. Martinez, please contribute to other blog postings so that I can enjoy your well written and thought out commentaries. Even though my post may come off to some people as rude and insensitive, I apologize only for the fact that I had to write it that way and not for its deeper meaning.
After reading this story in WSJ and several other sources, the official Foxconn PR release reads more like an apology to Apple and a real concern for their bottom line than for the good lives lost. The whole thing stinks of 1960 Communism mixed with 1970 German-ish, and 2012-I-don’t-care.
If you understood my nature (warped my wife tells me) you can pick up the subtle reference being delivered that both Foxconn and Apple (and no telling what other fat cats) only see the sign changing as you drive out of China:
Thank You For Visiting China: Population 1,339,724,852 yesterday 1,339,724,837 today*.
*(Most reported suicides occurred in 2010, 14 at the company dorms, 4 additional failed at the dorms, only 1 is sourced to the plant itself but many more are suspected while others have been reported as occurring in their own homes as a way to get out of reporting to work in what many consider hostile and inhumane conditions. Then again, when do we believe reports coming out of China and will we ever know the real number?)
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Professor Elam 
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