Foxconn: riddled with controversy, swimming in cash
The Chinese electronics manufacturer has been in the news a lot in recent: a rash of worker suicides, a wage increase to attract workers in a time when China’s economy is starting to boom, a plan to outsource operations of its worker dormitories to make them more pleasant places to live. All things that would indicate rough sledding at Foxconn. But the money keeps rolling in: $6.15 billion in June, up 21% from the previous month, 55% from the previous year. It’s really a story about global economy when you think about it: in a time of slow economic recovery, people buy gadgets.
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