Shareholders challenging Apple on unions & alleged slave labor
Well in advance of the annual shareholders' meeting, Apple investors have filed challenges that the board must address, such as the company's stance on unions and human rights in China.
Apple investors are concerned
Trillium Asset Management filed a union proposal, asking Apple's board to improve its oversight of how the company's management has handled recent unionizing. Trillium also mentioned how employees had allegedly accused Apple of intimidation tactics to deter employees from organizing.
Advisory firm Institutional Shareholder Services also plans to consider recommending against board members at companies that fail to act on shareholder proposals that have won majority support.
Another proposal, by activist group SumOfUs, calls for Apple to create a "phaseout transition plan" to stop the company's supply chain from using labor from Uyghur forced labor programs. Apple had also been challenged on that topic in 2021.
Apple faces two other proposals that call on the board of directors to examine the company's remote work policies on employee retention and competitiveness, according to the Financial Times.
In August, the UN published a report that accused China of "serious human rights violations" regarding Uyghurs and other Muslim ethnic minorities in Xinjiang. Apple told the SEC that there was "no evidence that any of its suppliers were located" in the Xinjiang region, home to the Uyghurs.
Apple isn't fighting the union proposal but does plan to challenge the others because they involve internal business decisions that don't pertain to outsiders.
Read on AppleInsider
Apple investors are concerned
Trillium Asset Management filed a union proposal, asking Apple's board to improve its oversight of how the company's management has handled recent unionizing. Trillium also mentioned how employees had allegedly accused Apple of intimidation tactics to deter employees from organizing.
Advisory firm Institutional Shareholder Services also plans to consider recommending against board members at companies that fail to act on shareholder proposals that have won majority support.
Another proposal, by activist group SumOfUs, calls for Apple to create a "phaseout transition plan" to stop the company's supply chain from using labor from Uyghur forced labor programs. Apple had also been challenged on that topic in 2021.
Apple faces two other proposals that call on the board of directors to examine the company's remote work policies on employee retention and competitiveness, according to the Financial Times.
In August, the UN published a report that accused China of "serious human rights violations" regarding Uyghurs and other Muslim ethnic minorities in Xinjiang. Apple told the SEC that there was "no evidence that any of its suppliers were located" in the Xinjiang region, home to the Uyghurs.
Apple isn't fighting the union proposal but does plan to challenge the others because they involve internal business decisions that don't pertain to outsiders.
Read on AppleInsider
Comments
I believed in and invested in Apple long before they employed me, and I still consider Apple Inc. to be the greatest company in the world, and the maker of the world's best consumer and prosumer technologies. They've remained laser- focused on improving their core competencies, and leveraging them for maximum profit. Are they perfect? Hardly, but no one else is either. Other companies in the top 500 make their money producing products that destroy our environment (big oil), kill and poison their customers (big agriculture, alcohol and tobacco), kill people in foreign lands (defense/aerospace) and prey on vulnerable Americans (big pharma and healthcare). Save your outrage for them, then get off your couch and do something about it, rather than ranting on a keyboard!
You youngsters out there, pay attention to Marc G: leave the Robinhood meme stocks, the Teslas, and the cryptos to Wall Street quants. Buy great companies with a history of growing earnings and increasing dividends. Observe where the people of all demographics shop, like Ulta Cosmetics or Lululemon. Learn to research their fundamentals. Buy in through dollar cost averaging (look it up). Reminvest all dividends. Retire with more than you can spend.
I strongly recommend everyone read and ponder the excellent post by JP234 earlier in this thread. That's pretty much all you need to know.
That said though, I don’t see any issue with shareholders and others raising the question. Raising it if for no other reason to keep the issues in mind for the public at large, outside of Apple.
Because you can’t prove a negative. Apple can show the efforts they go through to prevent these abuses, and the severe penalties they met out when they are found. But if these groups keep coming back with, “but it COULD be happening” that just shows their true colours.
If you don't buy this argument, look at India. India has never suffered internal wars and escaped the severe destruction of the Western World War I and II. India has been in contact with western world through the history, But today India GDP is far behind China. The only reason is Indian government lacks the power to rebuild India.
Your whole statement is nothing more than Chinese propaganda and lies.
No the CCP does not treat different groups differently. They make it clear that you will be Han Chinese or else. Ask the Tibetans how their culture is thriving under CCP control. Ask the Ethnic Vietnamese along the southern border. Ask the Mongolians along the northern border. Their language, culture, history is all erased, and replaced with Han Chinese, at the point of a gun.
Try to excuse the inexcusable, and insist that the blood is not red and the tears are not salty.
That is what is truly despicable.
You are not deserved to be an APPL investor. Look at Apple product introductions or specs. They are full of numbers. You don't seem to learn from Apple.