“One analyst blacklisted several companies on Monday, citing a reason not often (or possibly ever) heard on Wall Street—moral and ethical grounds,” Katie Little reports for CNBC. “In the report, Ronnie Moas, Standpoint Research’s founder and director of research, downgraded Apple stock from a ‘hold’ to a ‘sell,’ reiterated a ‘sell’ recommendation for Amazon.com shares and initiated Philip Morris stock with a ‘sell’ rating. After holding in his feelings for ‘too long,’ Moas wrote that he couldn’t sleep despite taking his nightly sleeping pill. At 1 a.m., he reached his boiling point and felt compelled to speak his mind.”
Little reports, “Moas’ Standpoint bio page states he began his career as an analyst and market strategist at Herzog Heine Geduld, which was bought by Merrill Lynch in 2002, before leaving to start his own firm in 2000.”
Before this, he served for three years in the Israeli army and worked in concert productions,” Little reports. “‘For Apple Computers [sic] to pay their workers $2 an hour while they have $150 billion in the bank is nothing short of obscene. I heard all of the arguments in their defense and they make no sense to me,’ wrote Moas in the note.”
Little reports, “Thomson Reuters StarMine, which tracks and ranks analysts’ performance, has no record of Moas’ recommendations on Apple.”
Read more in the full article here.
MacDailyNews Take: Hey, Ronnie, how’s the water in the deep end?
Mr. Misinformed fails to realize that Apple has done more to raise the quality and pay of Chinese assembly jobs than any other company on the planet.
Apple stock should not be “downgraded” by even a no-name, one-man-band, scary-eyed “analyst” on this basis.
Related articles:
Apple supplier Foxconn again lifts pay for China workers; 16-25 percent increase – February 17, 2012
FLA President: Foxconn factories ‘first-class; way, way above average’ – February 15, 2012
He’s right. It’s about time people start talking about this. There is a huge disparity of wealth in this country and it should be examined.
The Chinese worker compensation is too low for a first world country to support. I understand it’s relative, and that’s fine. But his concern is valid. People are committing suicide because of the working conditions. It’s unfair to the workers.
the suicide rate for Foxconn workers is lower than the GENERAL rate for suicide in China. And if you think age has got anything to do with it (i.e “young people shouldn’t commit suicide” ) the rate is LOWER than the suicide rate of College Students in the USA.
Foxconn suicide rate at high point: 5.4 per 100,000
China average is 22 per 100,000
Foxconn rate is LOWER than the rate for ALL states in the USA
(all stats below is per 100k)
USA average is 11.1
USA college students suicide rate 7.5
Wyoming suicide rate for e.g is 22.6
(we should CLOSE DOWN the EVIL STATE of WYOMING!!! Protest NOW !!!! )
One well know suicide case investigation at Foxconn discovered that the worker had problems with his girlfriend. (Please note nobody is FORCED to work at Foxconn, people can just QUIT).
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the above stats is at the peak of the controversy
when Foxconn REDUCED the CASH PAYOUTS to Suicide victims families the suicides dropped drastically (these are social conditions which Westerners find hard to understand)
Apple has also improved working conditions in Foxconn.
NOTE:
1) Chinas per capita income is THREE TIMES democratic india i.e an average chinese earns three times an average indian.
2) $2 an hour looks little UNTIL you compare the AVERAGE PAY for CUBA is $15 a MONTH.
i.e I can conceivably argue: ‘RICH’ FOXCONN WORKERS IN ONE DAY EARNS AS MUCH AS A CUBAN IN ONE MONTH I!!!!
(most critics have NO CLUE about the working conditions outside the west)
3) People who travel for days to get there are lining up to work at Foxconn factories (go see the videos).
like i said Nobody is FORCED to work at Foxconn , they can QUIT if they don’t like it.
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One of the famous photos of a bunch of workers threatening suicide on a Foxconn Factory roof and shown around the world as “Workers at Apple Factory threatening suicide” was actually on top of the Foxconn factory building MICROSOFT XBOXES (but of course you don’t get page hits mentioning Msft… as opposed to screwing apple) and the REASON for the suicide threat? they were GOING TO CLOSE THE FACTORY DOWN! i.e they were threatening suicide because they were worried they can NOT work at Foxconn!!!
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and if you read the Apple audits the Number One worker complaint about foxconn is LACK of OVERTIME !! Workers were extremely frustrated when Apple forced Foxconn to cut overtime hours. Because Foxconn pays relatively well (if you disagree please quote which Factory in China pays more for the equivalent work) worker want to max out hours to sock money away (just like a lot of USA workers want overtime if it pays).
etc.
I can go on an on but I’ll stop here. This shows that apple critics actually know so little and can’t tell the B.S from the truth.
(AS I’VE POSTED OFTEN BEFORE I WISH APPLE P.R WOULD DO SOMETHING ABOUT THE B.S BEING SPROUTED AGAINST APPLE by the Press like NYT, WSJ , Forbes etc . Before flamers ask me to shut up and say “apple should ONLY focus on PRODUCTS” note When stuff get blown out of proportion and stock goes down giving power to people like Icahn Apple management wastes more time trying to contain it. P.r is CHEAP, not asking Ive or Federighi etc to deal with it , by all means ‘focus on Products’ but a few P.R dudes – apple is multibillion earning co. after all – can do the stuff … But apple P.R SLEEPS… )
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Earlier in my life I’ve worked over 10 years in Asia and just got back from a three week trip to South East Asia.
Another anal-ist having a nervouse breakfown !
Poor guy cant sleep .
There is a big-boy behind this downgrade. This is not the first time we have seen the stock downgrade. This is the game of big boy stock manipulation. They only you this clown as a tool, wondering where this guy comes from originally, his English sucks. By looking at his angry expression giving me goose-pump.
What about the over 1000 garment workers that died in that building collapse? These people were making 50 cents an hour. How many major clothing retail chains were having their clothing lines made there? If this guy wants to target so called unethical behavior, find someone more deserving.
Apple has brought some manufacturing back to America, one of the very few American companies to do so. This guy is an idiot, and should be treated as one. Ignore this moron and treat him with the disdain he deserves.
Correct me if I am wrong but Apple is not paying anyone 2 bucks an hour. Isn’t it a Chinese company (Hon Hai Precision Industry Co., Ltd.) that pays them that wage and only after Apple forced them to upgrade it?
EXACTLY.
This guy has dementia extremis. (0_o)
Do ya think he’s bucking for a job with the Enderle Group???
Angry man syndrome. Deep psychosis. Reminds me of Gov. Scott of Florida.
Time for him to start taking two sleeping pills
More like a whole bottle and do us all a favor.
They aren’t Apple’s “workers”. They are Foxconns etc. So he would have to downgrade every company that Foxconn makes anything for which would be just about every computer company for starters.
So, every single thing that this guy owns or uses doesn’t have a part made by a worker who is paid in the salary range of what he is condemning?
Ronnie Moas, Standpoint Research’s founder and director of research is living in the 1970s. The fight to keep manufacturing in the USA, along with its wage requirements, is long since dead. And you, Mr. Moas, can blame our Corporate Oligarchy for giving the USA the BIG FINGER and going Chinese. That means all your Wall-Nut Street pals whom you have NOT blacklisted.
Get some perspective man! You’re playing the fool!
Here’s a far better reason for Apple to get the hell out of China: It’s a CRIMINAL NATION and we’re all perfect idiots here in the USA to be shipping our money over to their sick and demented communist government. This self-destructive move (thank you Corporate Oligarchy) has been biting us in the ass since 1998, the year #MyStupidGovernment provided China with ‘Most Favored Nation’ status. Nice way to frack ourselves in the rear entry. 🙄