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CUPERTINO, CA -- Apple Computer is taking heat for its relationship with Foxconn for the wages and working conditions at the latter's factories.
According to a report in the Mail on Sunday, Foxconn employees typically put in 15-hour days and some earn just $50 per month -- with up to half returned to Foxconn to cover housing and food. Visitors are reportedly forbidden.
Foxconn manufactures Apple's iPod media players.
According to a report in the Mail on Sunday, Foxconn employees typically put in 15-hour days and some earn just $50 per month -- with up to half returned to Foxconn to cover housing and food. Visitors are reportedly forbidden.
Foxconn manufactures Apple's iPod media players.
ST. PETERSBURG, FL -- Analysts are picking Jabil Circuit apart after the EMS firm lowered its earnings per share guidance for its May quarter and admitted to three operating mishaps during the quarter.
"After not missing guidance for four-plus years, we find it suspicious that Jabil incurred three isolated operating miscues in the same quarter -- when any one of the three would have caused (the company to miss its guidance). We also find it bizarre that Jabil provided such a wide EPS range, given that the quarter closed two weeks ago," wrote Carter Shoop of Deutsche Bank Equity Research in a research note issued last night.
"After not missing guidance for four-plus years, we find it suspicious that Jabil incurred three isolated operating miscues in the same quarter -- when any one of the three would have caused (the company to miss its guidance). We also find it bizarre that Jabil provided such a wide EPS range, given that the quarter closed two weeks ago," wrote Carter Shoop of Deutsche Bank Equity Research in a research note issued last night.
SALT LAKE CITY -- CirTran Corp., a full-service EMS firm, has closed and received bankruptcy court approval to purchase almost all assets of Advanced Beauty Solutions for a total of $2.31 million.
Iehab J. Hawatmeh, CirTran's founder and President, said an
Last week's agreement covers ABS's flat iron and hair dryer product inventory, intellectual property, customer lists, a 30-minute infomercial and trade secrets.
CirTran will pay ABS $1.125 million in cash at closing, and will reduce its approved claim in the bankruptcy against ABS by $750,000. CirTran will pay the balance to ABS as a guaranteed royalty over two years.
ABS had defaulted on a manufacturing agreement with CirTran under which the EMS firm was to build hair dryer kits. Through October 2005, CirTran had shipped about $4.75 million worth of product to ABS, for which it had received payments of $788,000. In November, CirTran repossessed approximately $2.34 million worth of product from ABS and began selling those products directly.
In January, CirTran sued ABS, claiming breach of contract and fraud. At the same time, ABS filed for Chapter 11.
The bankruptcy court last week approved of the sale of ABS's assets to CirTran.
Iehab J. Hawatmeh, CirTran's founder and President, said an
Last week's agreement covers ABS's flat iron and hair dryer product inventory, intellectual property, customer lists, a 30-minute infomercial and trade secrets.
CirTran will pay ABS $1.125 million in cash at closing, and will reduce its approved claim in the bankruptcy against ABS by $750,000. CirTran will pay the balance to ABS as a guaranteed royalty over two years.
ABS had defaulted on a manufacturing agreement with CirTran under which the EMS firm was to build hair dryer kits. Through October 2005, CirTran had shipped about $4.75 million worth of product to ABS, for which it had received payments of $788,000. In November, CirTran repossessed approximately $2.34 million worth of product from ABS and began selling those products directly.
In January, CirTran sued ABS, claiming breach of contract and fraud. At the same time, ABS filed for Chapter 11.
The bankruptcy court last week approved of the sale of ABS's assets to CirTran.
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