Posts Tagged ‘Foxconn Technology Group’

Chinese Worker Suicides Mount

Chinese Worker Suicides Mount

Courtesy of Tim Iacono at The Mess That Greenspan Made

Chinese women fan dance outside Apple store in Beijing

It’s not clear exactly what one should think about the recent spate of suicides at the giant Hon Hai Precision Manufacturing facility in Shenzhen, China, the eighth such incident so far this year occurring just days ago, the third in just the last two weeks.

Also known as Foxconn Technology Group, the company is a contract manufacturing house that makes iPhones and iPads. The Wall Street Journal ran this story($) yesterday in which they provided this detail about how massive the complex is.

The eight who died this year worked at Hon Hai’s Longhua plant, a sprawling, walled facility of factory buildings, dormitories restaurants and recreational facilities set amid city streets on the outskirts of Shenzhen, a manufacturing boomtown. The Longhua facility employs about 400,00 workers—roughly equivalent to the population of Oakland, Calif., and about half of Hon Hai’s total work force in China.

The facility in places resembles a university campus, with a movie theater, book store and giant cafeterias as well as its own hospital and fire station. But life for the employees, the vast majority of whom are in their late teens or early 20s, is arduous. Staffers can work 10 or more hours a day, often volunteering for overtime because it pays better. Much of the work entails highly repetitive, assembly-line tasks.

In many ways, this sounds like early-1900s U.S. steel mills before unions grew in power.

In more recent news, Xinhua reported that the most recent death was confirmed as a suicide, citing failed romance and gambling losses as possible reasons, and this item at m&c noted that the company held emergency meetings yesterday to address the problem which they have yet to formally comment on.

You can read the full WSJ article by doing a google search on the title "Another Hon Hai Worker Dies in Fall" - a back door way to read WSJ articles. However, if I give you the url, it transforms to a page with just the beginning, i.e., you need to do your own google search. - Ilene


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Phil's Favorites

Knowing the difference between Risk and Deep Risk

 

Knowing the difference between Risk and Deep Risk

Courtesy of 

Bill Bernstein is widely known among professional investors as one of the best writers and thinkers in the industry. Two of his books, Deep Risk and The Investor’s Manifesto, belong in any conversation about the most important investment books ever written. Bernstein doesn’t appear on TV nor does he do much public speaking. So this interview with my firm’s direct...



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Zero Hedge

In "Unprecedented" Move To Ease Conditions, ECB Cuts Collateral Haircuts By 20%, Will Accept Greek Debt As Collateral

Courtesy of ZeroHedge View original post here.

For the past six years, and especially in 2015 when Yanis Varoufakis tried to stage a mutiny within the Eurozone and using some truly convoluted "game theory" ended up causing a near collapse of the Greek banking sector and the loss of hundreds of billions in deposits which the ECB held hostage, Greece had found itself in the Animal Farm position of being part of the Eurozone yet somehow its bonds were not at first not eligible for ECB purchases, and later, did not quality as collateral for Eurosystem credit operations.

...

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Biotech/COVID-19

Coronavirus: does the amount of virus you are exposed to determine how sick you'll get?

 

Coronavirus: does the amount of virus you are exposed to determine how sick you'll get?

Courtesy of Sarah L Caddy, University of Cambridge

Healthcare workers are likely to be in contact with many COVID-19 patients every day. Being in contact with more people with the disease means that, in theory, they will be exposed to higher doses of the coronavirus over time. Does that mean they are at greater risk of contracting the disease, as reports from some countries suggest?

We know for some diseases that the dose of virus a person is exposed to will directly correlate with how severe the disease is. A good example of this is influen...



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ValueWalk

Coronavirus Checklist: 10-Steps to Safeguard Your Business

By Jacob Wolinsky. Originally published at ValueWalk.

With many office-based businesses still required to work from home, it can be stressful trying to manage your company and protect your employees, customers, and interests.

Capital on Tap’s CEO, David Luck shares his “business health MOT” checklist, to ensure you’ve got the best plan in place for your business’ longevity.

Q1 2020 hedge fund letters, conferences and more

Insurance policies

Checking your insurance coverage should be priority number one....



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Kimble Charting Solutions

DAX Index Hits Two 18-Year Support Lines, Creates Large Bullish Reversal

Courtesy of Chris Kimble

Has the DAX index from Germany experience a large decline of late? Yes, it has!

Has the decline broken long-term rising support lines? Not so far!

This chart looks at the DAX index on a monthly basis over the past 25-years. Over the past 6-years, it has traded sideways inside of the blue rectangle at (1).

The decline this year saw the DAX hit two 18-year rising support lines at (2) last month, where a large bullish reversal took place.

Until broken, important support remains in play at (2), which is bullish for this key index....



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Chart School

The Big Short movie guides us to what is next for the stock market

Courtesy of Read the Ticker

There is nothing new in WallStreet, it is only the players that change. Sometimes a market player or an event gets ahead of the crowd and WallStreet has to play catch up.

Previous Post Dow 2020 Crash Watch Dow, Three strikes and your out!

It is important to understand major WallStreet players do not want to miss out on a money making moves.  







...

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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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The Technical Traders

Founder of TradersWorld Magazine Issued Special Report for Free

Courtesy of Technical Traders

Larry Jacobs owner and editor of TradersWorld magazine published a free special report with his top article and market forecast to his readers yesterday.

What is really exciting is that this forecast for all assets has played out exactly as expected from the stock market crash within his time window to the gold rally, and sharp sell-off. These forecasts have just gotten started the recent moves were only the first part of his price forecasts.

There is only one article in this special supplement, click on the image or link below to download and read it today!

...

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Members' Corner

10 ways to spot online misinformation

 

10 ways to spot online misinformation

When you share information online, do it responsibly. Sitthiphong/Getty Images

Courtesy of H. Colleen Sinclair, Mississippi State University

Propagandists are already working to sow disinformation and social discord in the run-up to the November elections.

Many of their efforts have focused on social media, where people’s limited attention spans push them to ...



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Digital Currencies

While coronavirus rages, bitcoin has made a leap towards the mainstream

 

While coronavirus rages, bitcoin has made a leap towards the mainstream

Get used to it. Anastasiia Bakai

Courtesy of Iwa Salami, University of East London

Anyone holding bitcoin would have watched the market with alarm in recent weeks. The virtual currency, whose price other cryptocurrencies like ethereum and litecoin largely follow, plummeted from more than US$10,000 (£8,206) in mid-February to briefly below US$4,000 on March 13. Despite recovering to the mid-US$6,000s at the time of writin...



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Promotions

Free, Live Webinar on Stocks, Options and Trading Strategies

TODAY's LIVE webinar on stocks, options and trading strategy is open to all!

Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. Contact Ilene to learn about our affiliate and content sharing programs.