Standpoint Research Discovers Capitalism, Downgrades Apple For "Moral Reasons"

Tyler Durden's picture




 

Looks like Standpoint Research, whoever they are, threw in the towel on waiting for the "soft dollar" tsunami to wash over its hard-hitting operations, and decided to make headlines the old-fashioned way - with what is an early contender in the category for "dumbest research note of the year", this one bashing Apple because, get this, it is profitable.

"For Apple Computers to pay their workers $2 an hour while they have $150 billion in the bank is nothing short of obscene. They have workers who are doing back-breaking and eye-burning work in depressed states of mind and in many instances have already committed suicide. Instead of treating their employees like human beings, they are treated like animals. If it were not for their employees, Apple would not be where it is today. But instead of giving these people a better life, they give these people the bare minimum and defend this action with the argument that the wage is higher than the average there and in-line with what their competitors are paying."

Uhm, because it's "unfair?" In other words, after looking under every nook and cranny, Standpoint "Research" finally discovered capitalism. Congratulations. 

H/t streetinsider

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Mon, 01/06/2014 - 08:56 | 4303962 GetZeeGold
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Oh wow, oh wow, oh wow - Steve Jobs

Mon, 01/06/2014 - 09:16 | 4303999 RSloane
RSloane's picture

But but......Steve Jobs was so cool in his black turtlenecks and jeans. Apple product lovers will attest to this!

Mon, 01/06/2014 - 10:15 | 4304132 SoundMoney45
SoundMoney45's picture

Apple no different from any other company with manufacturing in China, Vietnam, Indonesia or other places where workers are paid subsistence wages.  Previously import tariff's protected these workers from exploitation.  If we tax these imports for the wage difference, the companies will pay the workers.  Are starting to understand why "free trade" enables exploitation of workers?

Mon, 01/06/2014 - 10:32 | 4304170 jbvtme
jbvtme's picture

amerikan soda jerks will soon be making $15 an hour.  why do the folks who make our computers make $2?

Mon, 01/06/2014 - 12:49 | 4304560 Singelguy
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It is all about supply and demand. Apparently there are lots of Chinese workers willing to work for $2 an hour. If no one applied, Foxconn would have to raise the hourly wage to get the workers they need.

Mon, 01/06/2014 - 13:35 | 4304719 jbvtme
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50 million amerikans on food stamps. 20 percent unemployment. sounds like the supply of "workers" exceeds the demand.  no?

Mon, 01/06/2014 - 19:02 | 4305798 MarsInScorpio
MarsInScorpio's picture

Apple is one of the biggest scams ever - right up there with "Do No Evil" Google - the Big Brother we've all heard was coming. Both are clearly in the back pocket of the Military / Industrial / Orwellian / Oligarch Complex (MIO2C).

 

Their software is a straight line to NSA. For all you know, their hardware is hardwired to the NSA too. I prohibited any of my family from owning anything Apple - they are absolutely without integrity.

 

And the explotation of thier workers so that they can live (at  the top of the corporate food chain) obscenely overindulgent lives, just adds to the reasons to shun anything Apple.

-30-

Mon, 01/06/2014 - 10:46 | 4304211 Luapnor
Luapnor's picture

The real people being exploited are the out of work college students who will pay $500 for an iphone that is worth maybe $99...   Where is the outrage for them? 

Mon, 01/06/2014 - 11:11 | 4304255 shovelhead
shovelhead's picture

Hanging on the $20.00 Go phone display at Walmart.

Mon, 01/06/2014 - 11:26 | 4304289 RafterManFMJ
RafterManFMJ's picture

Golly, I wonder who will ever shed a tear or raise a tremulous cry for the American worker?

Bueller? Bueller? Anyone?

Can't wait for the final burn. Fire ... cleanses ...

Mon, 01/06/2014 - 11:24 | 4304291 pods
pods's picture

I wonder if the movie Elysium is going to be big in China?

We watched it last night and thought about how if you look at it as a moneychangers vs the rest of us we are there.

But it will work on so many levels, certainly the guy who got poisoned by hexane wiping iPhone screens would see the meaning a lot more clearer than we do.

Just a fucked up world we live in all around.  

pods

Mon, 01/06/2014 - 17:43 | 4305598 MeelionDollerBogus
MeelionDollerBogus's picture

Ya, I noticed too.
Not just that the 'hero' was bad-ass in what he pulled off but that he did stumble a lot, didn't go all-in all at once to be a hero and (spoiler alert) got his ass killed to do the right thing.
THAT is what scares the elites most, that people will be willing to get killed to get even.

Mon, 01/06/2014 - 18:57 | 4305783 MarsInScorpio
MarsInScorpio's picture

You got it.

-30-

Mon, 01/06/2014 - 11:56 | 4304386 PT
PT's picture

SM45:  Exactly.

Tell me again, where are all the other computers / phones made?  What are their workers paid? 

Tue, 01/07/2014 - 14:07 | 4308604 fallout11
fallout11's picture

That giant sucking sound that Ross Perot used to talk about.....was the race to the bottom of wage and regulator arbitrage known as flat-earth globalism.  Rather than raising all boats (the whole world cannot live like Americans), it simply drags everyone down to the lowest common denominator.
Tariffs (customs duties) also once funded much of the US federal government, in the decades years prior to the income tax. 

Mon, 01/06/2014 - 15:30 | 4305148 Proofreder
Proofreder's picture

And, One More Thing ...

Apple builds machines that work, with the software they produce, and no company that I am aware of has done more to advance the state of personal computing than the creators of Apple - Jobs, Wozniak, Andy Hertzfeld, Jeff Raskin and the rest of the Lisa / Mac teams.

The machines ran software out of the box, never bluescreened, and rarely crashed.  Unless one did not save, little data was ever lost. A brother ran a typesetting business on a Lisa for five years, then selling the antique a couple of years ago for over $10k.  Been in dry storage since '93 but it booted from the 20 meg hard drive.

He traded up to an Intel Imac, however they spell it, and runs Linux and MacOS in seperate boot partitions when something must be done in Open Office.  And it just works.  Photoshop, Word, Firefox, Opera, taxes, spreadsheets, movies, and of course, ZH.

Says he could run Windoze 5, 6, 7, 8, whatever, and pretty soon would be reminded of the blue screen of death, freezes, shitty OS and software still relying on the registry.  Most fuckwads that bash apple can't afford one and have not enjoyed the OS.  Baby Linux machine.

Don't own apple stock anymore, wish I had kept some.

Sigh ...  

Mon, 01/06/2014 - 17:41 | 4305593 MeelionDollerBogus
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When it comes to the age-old foundations of computers, no: the Amiga and even before it (very primitive) the C64. Apple was in the dust, as were IBM PC's, when Amigas were rendering amazing graphics for video games & even a TV show (Babylon V)

Mon, 01/06/2014 - 09:19 | 4304015 slaughterer
slaughterer's picture

Cue burning Zeppelin crashing down from above. 

Mon, 01/06/2014 - 08:54 | 4303966 greatbeard
greatbeard's picture

Fuck Apple.

 

 

Mon, 01/06/2014 - 09:01 | 4303972 GetZeeGold
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There's an app for that.

Mon, 01/06/2014 - 09:10 | 4303989 CH1
CH1's picture

Commerce... capitalism... is about cooperation (try to build something without it!), not screwing everyone you can.

Mon, 01/06/2014 - 10:10 | 4304101 Spastica Rex
Spastica Rex's picture

It's about corporation.

Get real.

Mon, 01/06/2014 - 13:20 | 4304667 TheReplacement
TheReplacement's picture

Is that the progressive version of capitalism to which you are referring?  Real honest capitalism would make it hard for corporations since they wouldn't have all the advantages entailed by favorable government treatment.

Oh well, go get your socialism.  You deserve it.

Wed, 01/08/2014 - 11:00 | 4311368 Infnordz
Infnordz's picture

Indeed; the modern commercial corporation is the creation of government (a state corporation), with fraudulent personhood due the corrupt legal profession, and much government subsidy, both financial and regulatory.

All the above corruptions were embodied in Abraham Lincoln both before and while he was US President, and the old Whigs and the newly created US Republican (Corporatist) party, he came from.  The US Democrat party later joined the Corporatist corruption with more of a Socialist bent.  It is no surprise that this fake personhood of corporation was fraudulent formalised in the US by the corrupt legal profession abusing, I assume Republican (hypocritical anti-Negro), ex-slave rights law.

This thing we call Globalisation is not a free market, that is an illusion because of all the legal corruption and Corporatist pillaging attached, so it cannot be Capitalism, despite what some Nordic 'Capitalist' commentator fool said.  The books "The Corporation" and "The Shock Doctrine" make this very clear!

The creation of the Federal Reserve was a key factor in allowing this corruption to explode, because Corporatism was no longer kept in check by finite real money.

Mon, 01/06/2014 - 09:03 | 4303978 Headbanger
Headbanger's picture

Fuck Apple again.  And glad to see laptop makers will soon start installing Android OS along side Microshit 8 cause it's sucks.

Mon, 01/06/2014 - 09:58 | 4304074 firstdivision
firstdivision's picture

I tried, and had to go to the hospital when I tried penetrating it.  I would advise apple pies.

Mon, 01/06/2014 - 08:57 | 4303969 e.blair
e.blair's picture

Tyler, Apple is obscene.  And certainly nothing in your often incoherent ideology proves otherwise.

Mon, 01/06/2014 - 09:30 | 4304030 jcaz
jcaz's picture

"Incoherent idealogy"....   What?   Provide ONE example of what you're babbling about, please.  

Tyler is nothing but direct.   Unless you're just confused in general.....

Another psuedo-intellectual tool looking to makes his bones on someone else's dime.....  Where is YOUR blog?

Mon, 01/06/2014 - 09:59 | 4304078 loonyleft
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downvote. tyler's all growed up. I am sure he can take it.

Mon, 01/06/2014 - 09:14 | 4303970 Divided States ...
Divided States of America's picture

Ronnie moas (founder and only employee of standpoint research)  is not worthy of making zh, he told everyone to plow into yrcw at 32 bucks with a 50 pt. I would know this because i called him out on it and like the israeli army vet that he was, this guy should not be bothered with. The research standpoint does is as diligent as my dog's.

Mon, 01/06/2014 - 09:00 | 4303971 malikai
malikai's picture

Regulatory and wage arbitrage sounds more like cancer than capitalism to me.

Mon, 01/06/2014 - 09:06 | 4303983 CH1
CH1's picture

Dodging regulators is a fine thing to do

Abusing people ain't.

Mon, 01/06/2014 - 09:18 | 4304005 malikai
malikai's picture

Agreed.

But maybe it would be better without bullshit regulators 'doing their duty'.

Maybe that's a different discussion.

Mon, 01/06/2014 - 09:01 | 4303973 Singelguy
Singelguy's picture

They just don't get it. Apple produces very little hardware in house. It is contracted out to third parties. Apple has a contract with Foxconn to manufacture the iphone. If Foxconn is paying its workers $2 an hour, that is not Apple's responsibility. I am sure Apple put the contract up for bid and Foxconn came in with the best proposal. If Foxconn had to pay its workers more than $2 an hour, they would have had to increase their bid and probably lost the contract to another company and Foxconn's workers would be earning nothing instead of $2 an hour. Since when did it become Apple's responsibility, or any other multinational company for that matter, to guarantee anyone a certain standard of living? These idiots at Standpoint Research need to quit and go to work at the White House. They will fit in nicely.

Mon, 01/06/2014 - 09:07 | 4303988 greatbeard
greatbeard's picture

>> not Apple's responsibility.

You are correct, corporations have no responsibility, for anything, which is what got us to where we are today.  Jobs is where he deserves to be.

Mon, 01/06/2014 - 09:45 | 4304045 11b40
11b40's picture

....but don't forget, my friend, that corporations are people, too.

Or something like that.

 

Mon, 01/06/2014 - 11:43 | 4304358 Imminent Crucible
Imminent Crucible's picture

"corporations are people"....almost there.  The Supreme Court wrote "we are all of the opinion" that corporations are Persons before the law.  That's from Santa Clara County vs. Southern Pacific Railroad, 1886.

There's a very long and ugly story behind that:  http://gangsofamerica.com/read.html

Mon, 01/06/2014 - 12:21 | 4304446 11b40
11b40's picture

Yes, I know, but I should have included the quotation marks in my post to properly attribute the remark to Mitt Romney's answer to a critic on the campaign trail in 2012.

http://www.cbsnews.com/news/romney-heckled-in-iowa-says-corporations-are-people/

Here is the solution:

https://movetoamend.org/

Others are waking up:

https://www.google.com/search?q=Corporations+are+people,+too&rlz=1C1CHHZ_enUS513US513&espv=210&es_sm=122&tbm=isch&tbo=u&source=univ&sa=X&ei=_NbKUvysF8qokQen5YDIDg&ved=0CF4QsAQ&biw=1137&bih=724&dpr=0.9

Mon, 01/06/2014 - 12:28 | 4304475 11b40
11b40's picture

@ I.C.

Interesting link, thanks.  Here is the intro:

As corporations gain in autonomous institutional power and become more detached from people and place, the human interest and the corporate interest increasingly diverge. It is almost as though we were being invaded by alien beings intent on colonizing our planet, reducing us to serfs, and then excluding as many of us as possible. —David Korten

Mon, 01/06/2014 - 09:16 | 4304010 X86BSD
X86BSD's picture

Exactly. I know people love to hate apple they've been doing it since the company began but seriously this is the dumbest and most ignorant fucking thing to say about apple I've seen in a loooong time. You show me a single fucking company that pays the wages of another companies employees. Just one. I mean really apple haters, company A pay the wages of company B's employees? Really??? You're stupid.

Mon, 01/06/2014 - 09:56 | 4304075 tip e. canoe
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in a capitalist system, the burden of ethical responsibility lies squarely on consumers, who have almost all the power, whether they choose to realize it or not.

Mon, 01/06/2014 - 09:58 | 4304080 williambanzai7
williambanzai7's picture

Yes indeed. Vote with your wallet.

Mon, 01/06/2014 - 12:51 | 4304571 firstdivision
firstdivision's picture

I'm glad we don't live in a Capitalist society, otherwise JPM/GS/BAC/Citigroup would've been long gone.

Mon, 01/06/2014 - 10:52 | 4304188 TWSceptic
TWSceptic's picture

Exactly. Funny how people always point to Apple, as if things are different with Samsung or every other company for that matter.

 

BTW the real reason those wages are low has to do with governments manipulating the money supply (in this case the US and China), not with companies and certainly not capitalism. I'm surprised that even here on ZH most people blame the 'free' market instead of the real source of the problem.

Mon, 01/06/2014 - 10:49 | 4304212 johnnyarrowmaker
johnnyarrowmaker's picture

Ask one of the founders of modern capitalism - Ford - "if the workers dont earn enough, they cant afford to buy my cars".

You're talking through your arse - so businesses have no responsibility at all, according to you, except making money.

So just who benefits then?  Look down to the end of the road ... what do YOU see?  A happy, contented society, or the tumbrils?

Mon, 01/06/2014 - 11:51 | 4304378 artless
artless's picture

Singleguy is the only person here who gets it. The rest of you are fucking morons.

I personally could not care less about Apple. In other words I don't have a dog in the hunt-not invested, not a iShit user. I own a giant Mac desktop because I am a photographer and everything else out there is complete garbage because it runs on the Microshit platform which is patently absurd as far as operating systems go.

Apple farms out the hardware. EVERYONE farms out stuff like this to your so-called subsitence wage labor force in China. Pretty much NONE of you commenting negatively on Apple regarding this are not consumers of something made by the very same Chinese labor, Vietnamese labor, MEXICAN labor, Bangladeshi...and on and on. So in other words shut the fuck up.

If you don't like it, don't buy any iShit. Perhaps it never occured to all you capitalist success story geniuses that the $10 billion Apple has on the sidelines is due to the shitty economic environment. They along with anyone else who can pack away the cash are either doing so or buying up anything that might keep them going in light of the FACT that the industry as a whole has hit a bit of a technological dead end. Hence why the Apples and Googles of the world have become to some degree just large patent clearing houses. They are all trying to find the next product line, the next "pad", "tablet", iPod, laptop, smart phone. Sorry but GoogleGlass just ain't it. What's THE next thing? Huh? R&D is where one would usually put all that cash but the "Regime Uncertainlty" of pretty much every last nation state in the world makes the big boys very conservative. So they stash a ton of cash.

As far as the subsistence wages go and the bullshit outrage that someone in Vietnam makes $2/hour: I was not aware that CHINESE laborers were paid in dollars.

Because they are not. they are paid in THEIR shitty fiat currency. You might want to examine that a bit closer because the same goes for all the aformentioned countries I listed above. So if you were clothes, drink coffee, have any electronic device. part, or otherwise in your home then you are endorsing that about which you bitch and moan.

Standpoint probably want to get some brownie points from the statist asshat morons who might then be more prone to send them some cash to lose, or they are deliberately trying to force Apple share price down with stupid press, etc. Check and see if they have divested or downgraded all the other companies that use Foxcon.

Then look up the working conditions, pay scales w/ ebnnies, and get some feedback from actual Apple employess who recieve checks signed by Tim Cook (or whoever-using that for emphasis) payable in DOLLARS. My guess is that those folks are pretty happy with it all.

Mon, 01/06/2014 - 12:55 | 4304592 Singelguy
Singelguy's picture

The root of the problem lies with Congress. They ratified the free trade deals that allows all those goods to come into the USA without any tarrifs while US goods are subject to tarrifs in the trading country. The trade agreements need to be ammended to fair trade agreements. You tax our stuff, we tax yours. However, I am sure members of Congress got lots of pressure from their corporate campaign contributers to ratify those deals so that they could export the manufacturing jobs to low wage countries and import the finished products duty free. Little did they realize that without jobs, American consumers could not buy their products or maybe they just didn't care. By the time it became a problem, the CEO had already retired with a multi million dollar pension.

Mon, 01/06/2014 - 09:01 | 4303974 Jason T
Jason T's picture

Henry Ford comes to mind..  made his employees productive enough to justify high wage.  

Mon, 01/06/2014 - 09:03 | 4303984 More_sellers_th...
More_sellers_than_buyers's picture

They worked here though.  Read Fordlandia.  He tried to duplicate that in Brazil and that didnt work so well.

Mon, 01/06/2014 - 09:48 | 4304051 firstdivision
firstdivision's picture

It didn't fail due to wages, it failed due to the land was inhospitable for rubber trees and Ford tried to dictate people’s home life by banning alcohol and tobacco use in home.  That's not Capitalism, but a Dictatorship.

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