Money, money, money

Re: Money, money, money

Postby CielOnTap on Fri Dec 16, 2011 3:07 pm

Business ethics in organic/fairtrade dealings---always do your due diligence when you start with a program. Investigate program people, farms involved, host country laws, etc. Invest in training--surely someone had to be aware that West Africa might not be up to date on child rights and labour issues?

Burkina Faso farmers probably rely on the money their cotton crops get but they also seem to be unaware of the rules against child labour. Also, there seems to be legal issue with the rights of children treated as foster kids-regarding treatment of children, access to school, guardianship. There's more to this case than just selling cotton that was used in a brand name of underwear.

My opinion is that Victoria's Secret executives consider establishing funding and setting up a way to provide those affected kids with legal represenation, housing/education and get local coordinators not with the fair trade program to talk to each farmer and any of their field managers about labour practices. Include a local lawyer and social worker on the team to rescue those kids and place them in the community.

http://www.thestar.com/business/article/1103076--victoria-s-secret-linked-to-burkina-faso-child-labour?bn=1
Fairtrade International started a review in Burkina Faso after Bloomberg News raised questions, says Syvaenen, adding it would begin a training program for farmers. She also says the UNPCB never gave Fairtrade a copy of the 2008 study it co- sponsored on child labour, which identified concerns about the vulnerability of so-called enfants confies, a French term used in West Africa for a type of foster child—kids such as Clarisse.

On small-plot farms like Kamboule’s across Burkina Faso, researchers sponsored by the growers federation in 2008 found that more than half of 89 producers surveyed had a total of 90 foster children under the age of 18. Many had two or more. The problem was acute in the country’s southwest, which is the heart of the program’s production and Clarisse’s home. There were about 7,000 fair-trade farmers in the program that year, according to data from Helvetas.

The study found that two-thirds of foster children in homes like Kamboule’s weren’t in school when they were required to be. Fair-trade farmers told researchers they didn’t pay the kids.


Why are the kids housed by farmers and treated by the farmers so roughly and not reimbursed for labour? I'd look into the food/clothing alloted to the kids too.

Update-if one can rely on most to all of the points in the Wikipedia entry on the country, it seems there has been much turmoil in the country. And there's reliance on international aid.
http://en.wikipedia.org/wiki/Burkina-Faso
http://www.bloomberg.com/news-media/clarisse-kambire-victorias-secret-child-labor-cotton-picker/
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Re: Money, money, money

Postby CielOnTap on Fri Dec 16, 2011 11:19 pm

An article on "dead capital" caught my attention in a Toronto newspaper today. It likely relates well to the issue posted just above and also to the reason why "The Protestor" was the Time person of the year. It's about how hard it can be to be a businessperson if money and time are siphoned from applicants following the process of starting a business.

Dead capital keeps native reserves poor
By Michel Kelly-Gagnon ,QMI Agency
First posted: Friday, December 16, 2011 02:00 AM EST | Updated: Thursday, December 15, 2011 04:17 PM EST
Several years ago, I was asked by a journalist to explain why people in Third World countries were poor while we were rich. She had never heard any other explanation than the Marxist claim that those poor nations were being exploited and deprived of their wealth by evil and greedy multinationals.

I told her about the ground-breaking research done by famed Peruvian economist Hernando de Soto. He showed convincingly how their own governments systematically prevented the populace from accumulating capital and creating wealth.

When it takes months of paperwork and it costs a small fortune in bribes to simply register a small business, when everything you possess can be taken away because property rights are not recognized or enforced, it's awfully difficult for entrepreneurship to flourish. De Soto estimated there exists at least $9.3 trillion US in what's termed "dead capital," untitled assets held by the world's poor. http://www.torontosun.com/2011/12/15/dead-capital-keeps-native-reserves-poor
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Re: Money, money, money

Postby CielOnTap on Sun Dec 18, 2011 2:55 pm

Dominique Strauss-Kahn will be attending an economic forum, organized by NetEase (an Internet giant in China), in Peking/Beijing tomorrow (which it is already in Beijing). French news source:
http://www.lemonde.fr/dsk/article/2011/12/17/dsk-reprendra-ses-activites-d-economistes-lundi-a-pekin_1620041_1522571.html
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Re: Money, money, money

Postby CielOnTap on Wed Jan 11, 2012 4:51 pm

Let's bring this thread into 2012 with an article on Kevin O'Leary, who gave the Toronto Star his answers on fame and fortune, a weekly series in the paper section called Moneyville with known personalities.

Mr. O'Leary is known on the Canadian TV series, Dragon's Den as well as on the US counterpart show, Shark Tank.

http://www.moneyville.ca/article/1111479--money-buys-freedom-entrepreneur-kevin-o-leary-says
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Re: Money, money, money

Postby CielOnTap on Thu Jan 12, 2012 9:21 pm

Foxconn returns to international attention again. Workers had allegedly been told that they would get severance pay or get transferred to other company sites when the site making Microsoft Xbox console closes. But workers went onto the company rooftop to protest when company officials indicated that only job transfers, not severance pays, were being provided.

Workers reached by telephone said Foxconn initially offered severance pay for those that wanted to leave rather than be transferred, but then reneged, angering the workers; Foxconn, in a statement, said transfers were offered, not severance, and only to some workers.

The workers climbed to the top of the six-storey dormitory on Jan. 3 and threatened to jump before Wuhan city officials persuaded them to desist and return to work, according to the workers and accounts online. The workers gave varying estimates of the numbers involved in the strike, from 80 to 200, and photos posted online showed dozens of people crowding the roof of the boxy concrete building.


http://www.theglobeandmail.com/news/technology/tech-news/chinese-foxconn-workers-threaten-mass-suicide-over-xbox-layoffs/article2299919/
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Re: Money, money, money

Postby CielOnTap on Fri Jan 13, 2012 11:26 pm

http://www.thestar.com/living/article/1114763--is-martha-stewart-s-reign-over
“In the current economic climate, this newer generation may not find the Martha Stewart lifestyle financially plausible or attractive,” says Jay Handelman, an associate professor of marketing at Queen’s University. “She has been known to a generation as representing certain lifestyle ideals — old-world cooking, fussy household nesting, and so on. It is likely that her style has come to be out of touch with a newer generation who are now just getting into home ownership.”

Handelman says, in addition to Ray, Stewart has been supplanted by younger contenders such as Chef Jamie Oliver who relates well to the lifestyles of younger consumers.



Things I learned from Martha Stewart:
Some of her furnishings, paint colours and licensed merchandise are alright. When Sears Canada carried bathroom linens and accessories, I got towels of all sizes because the pastel shades were warm and not dreary. Plus a coordinating wastebasket, soap dish and floor mat. I must see if I can get one pail of interior paint at Home Depot before the stock is depleted. It would be for another room in need of a paint lift but some small details need fixing and warmer temperatures are required.

She has high-end taste and let me admit, I would like some of her taste (furniture-select pieces, the undercounter fridge compartments on her kitchen set, some menus) but her intense schedules. It unnerved me to read her calendars inside the magazine when she was still the main person leading the team on editorial content. When did she put up her feet and just chill like many of do on a night or weekend off??? There was rarely a day that she wasn't planting, baking, making, hosting or visiting.

She knows perseverance. I still think she was made more of an example for her financial choices than males in similar positions. Yet Martha came back with a new show and a new book. She can set trends/invite popular guests/inspire fans to buy her merchandise online or through retail channels.

I hope that she gets to enjoy her granddaughter and balance that revised television schedule/magazine work with that little person in mind. Hopefully, her staff and crew will have places to move to next if they can no longer stay with her when the current show concludes.
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Re: Money, money, money

Postby CielOnTap on Sat Feb 04, 2012 12:18 am

A London, ON company has locked its gates and will be moving its equipment to the US. The company had asked its unionized workers to accept 50% less wages in order to be more competitive. Union said no and workers went on strike. The sticking point about the matter is that the company had received federal money to stay in business, yet the Canadian government had not interceded on the matter.

http://www.lfpress.com/news/london/emd/2012/02/03/19333691.html
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Re: Money, money, money

Postby pysanky on Sat Feb 04, 2012 10:51 am

London economy will feel job loss-less money to spend on food. In winter, cold comfort.
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Re: Money, money, money

Postby CielOnTap on Sun Feb 05, 2012 10:37 pm

Ms. Sheryl Sandberg is the No. 2 executive at Facebook. She is also a key person at attracting women to join her employer in the tech industry. Lastly, she was at the World Economic Forum in Davos, Switzerland. After all, she did work as an economist.

Ms. Sandberg was one of the people interviewed by Mika Brzezenski for her book, Knowing Your Value. Yet, as this New York Times article points out, the person credited for keeping women in the tech sector is also perceived as not being cognizant that some women did not get the breaks in their careers as she did.
http://www.nytimes.com/2012/02/05/business/sheryl-sandberg-of-facebook-staying-on-message.html?pagewanted=1&ref=general&src=me
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Re: Money, money, money

Postby CielOnTap on Thu Mar 29, 2012 9:08 pm

http://www.theglobeandmail.com/news/technology/tech-news/apple-foxconn-vow-to-improve-worker-conditions-in-china/article2386401/

Improve worker conditions has been the refrain since the first reports of worker conditions at Foxconn came out some years ago. What would it cost Apple to put a staffer on-site at each Foxconn factory to ensure labour law compliance?
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