Factory Supply – Coach Outlet Online S Pick http://coachoutletonlinespick.org/ Thu, 23 Jun 2022 17:49:12 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://coachoutletonlinespick.org/wp-content/uploads/2021/09/coach-oultlet-online-s-pick-icon-150x150.jpg Factory Supply – Coach Outlet Online S Pick http://coachoutletonlinespick.org/ 32 32 Elon Musk says he fears keeping Tesla out of bankruptcy https://coachoutletonlinespick.org/elon-musk-says-he-fears-keeping-tesla-out-of-bankruptcy/ Thu, 23 Jun 2022 16:56:00 +0000 https://coachoutletonlinespick.org/elon-musk-says-he-fears-keeping-tesla-out-of-bankruptcy/ “The past two years have been an absolute nightmare of supply chain disruptions, one thing after another,” Musk said in an interview with a group of Tesla owners. “We’re not out of it yet. Our main concern is how to keep the factories running so we can pay people and not go bankrupt.” Musk indulged […]]]>

“The past two years have been an absolute nightmare of supply chain disruptions, one thing after another,” Musk said in an interview with a group of Tesla owners. “We’re not out of it yet. Our main concern is how to keep the factories running so we can pay people and not go bankrupt.”

Musk indulged in hyperbole elsewhere in the interview, and he may have done so when mentioning the risk of bankruptcy. For example, he said automakers in general “are desperate for bankruptcy,” which falls into the category of colorful language rather than strict financial analysis.

But the company is coming to the end of its most difficult quarter, financially speaking, for more than two years.

“This is all going to be sorted out very quickly,” he said in comments recorded May 31 but not released until late Wednesday. “Factories in Berlin and Austin are gigantic money ovens right now. There’s a giant roaring sound that’s the sound of burning money. Bigger than a dumpster [fire]. A dumpster is too small. Berlin and Austin are losing billions of dollars right now. There’s a ton of expense and virtually no return.”

One of Tesla’s harshest critics believes the company faces bigger financial problems than most analysts realize.

“Bankruptcy is a real risk for these guys,” Gordon Johnson of GLJ Research told CNN Business on Thursday. “Why? A lot of their money is locked up in China. They weren’t profitable until they were in China; and, since China doesn’t allow companies to repatriate dollars there are made out of the country, and Tesla has a real problem.”

Johnson pointed to Tesla’s decision to cut about 10% of its salaried staff — even as it continues to hire production workers by the hour — as another sign of trouble.

“Why do you think they’re cutting people off? That’s a key signal,” he said.

But most companies that downsize are never close to filing for bankruptcy. And virtually every other analyst predicts Tesla will remain profitable, despite the supply chain issues that haunt it and most other manufacturers around the world.

Tesla has been profitable since late 2018, after years of reporting only losses. The company has posted quarterly profits up from the prior period for the past two years.

This streak of sequentially increasing profits is apparently about to end.

Analysts polled by Refinitiv expect second-quarter adjusted profit to fall to $2.5 billion in the second quarter, down from Tesla’s record $3.7 billion in the first quarter. That would still be up from adjusted revenue of $1.6 billion in the second quarter of 2021.

Tesla reported a 0.1% decline in new vehicle production in the first quarter compared to the fourth quarter. But its year-over-year output was still up 69%, and most other automakers around the world cut output in the quarter from year-ago levels due to issues. of supply chain.

Automakers, including Tesla, are expected to release second-quarter sales figures early next month.

Shares of You’re here (TSLA)which are down nearly a third year-to-date, were down about 2% in midday trading Thursday.
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Gib shortage: Task force will lead to better supply, member says https://coachoutletonlinespick.org/gib-shortage-task-force-will-lead-to-better-supply-member-says/ Tue, 21 Jun 2022 21:20:20 +0000 https://coachoutletonlinespick.org/gib-shortage-task-force-will-lead-to-better-supply-member-says/ A member of the ministry’s plasterboard shortages task force is confident this will lead to the availability of a wider range of imported products. Photo: 123RF Fletcher Building’s Gib holds around 95% of the market, but demand has outstripped supply, leaving some housing projects unfinished and some builders struggling to stay afloat. The task force […]]]>

A member of the ministry’s plasterboard shortages task force is confident this will lead to the availability of a wider range of imported products.

Photo: 123RF

Fletcher Building’s Gib holds around 95% of the market, but demand has outstripped supply, leaving some housing projects unfinished and some builders struggling to stay afloat.

The task force announced on Tuesday will examine whether regulation of alternative plasterboard products is needed, ways to streamline the use of untested products in the market, new distribution models, advice on consent approaches and take action. as a forum for supply chain issues.

Fletcher Building expects the wallboard market to return to equilibrium by October, the company said in documents Wednesday, ahead of its investor day.

Supply would increase by 10% over the next four months, after reconfiguring its factory, increasing imports and issuing royalty-free licenses to 10 parties to import foreign-made plasterboard, which could violate its mark. Fletcher Building’s new plasterboard factory near Tauranga is due to open next year.

Traders would also run an emergency allowance fund to help small customers in the meantime, he said.

Task force member Naylor Love’s managing director Rick Herd said there had to be competition in the market.

“My personal program would be to see the construction industry informed of the alternatives to Gib products available for import and those available through agencies already established…and what is the equivalence of these products to Gib products “Herd said. .

It was possible to get alternatives to New Zealand on a reasonable scale, he said. The standard equivalent of Gib could be imported cheaply, although specialist plasterboard is generally more expensive than local product, he said. morning report.

Naylor Love and other large organizations imported their own plasterboard, but those doing small projects—particularly home builders—did not have the ability or the resources to import products from overseas.

Herd thought the task force would lead to improved supply.

“In another 12 months we will find that there is a much wider range of imported products available in New Zealand – and tested, high quality products.

“I am confident that with the support of the Government, the Construction Agreement, we can let industry know what is available and also start testing other products that become available.

“The Gib suite of products is a great product that has served New Zealand well. There’s a very good reason why it’s 95% of the market, because it’s a good product. But we have to, exactly this view of shortages, and price gouging, we need alternative competition in the marketplace.”

If Fletchers had imported alternative products to supplement his own, as he had heard they had, it was the right thing to do. “If they have a 95% market share, they have an obligation to the market to maintain continuity of supply.”

The task force also includes Dave Kelly, chief executive of the Registered Master Builders Association of New Zealand, Shane Brealey, chief executive of Simplicity Living, Sir Stephen Tindall, founder of The Warehouse and chairman of the Tindall Foundation, a representative from LGNZ and 2degrees founder, Tex Edwards.

Fletcher Building said Tuesday it would welcome constructive suggestions to resolve current supply issues.

He said he has already granted non-exclusive, royalty-free licenses to 10 parties to import foreign-made plasterboard, which may infringe Fletchers’ trademarks.

The company had confirmed to Building and Construction Minister Megan Woods that it would “grant similar licenses on similar terms to other parties until May 2023, after which time our new Tauranga plant will be operational and will do more than meet current demand requirements,” he said. .

Even though demand plummeted and production increased when the Tauranga plant came online, there was still to be a long-term change, Herd said.

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Marjorie Taylor Greene blames men who buy tampons https://coachoutletonlinespick.org/marjorie-taylor-greene-blames-men-who-buy-tampons/ Mon, 20 Jun 2022 05:32:22 +0000 https://coachoutletonlinespick.org/marjorie-taylor-greene-blames-men-who-buy-tampons/ The tampons have been reported to be in short supply in stores across the United States. Guess who is … [+] be blamed for these shortages? (Photo by STEFANI REYNOLDS/AFP via Getty Images) AFP via Getty Images It should come as no great surprise that the United States is now facing a shortage of tampons. […]]]>

It should come as no great surprise that the United States is now facing a shortage of tampons. After all, since the start of 2020 there have been shortages of, well, seemingly everything. This ranges from the big (or rather not so big) shortage of toilet paper that coincided with the start of the Covid-19 pandemic, to shortages of personal protective equipment, cleaning products, yeast, bicycles and toilet paper. a host of other products over the ensuing period. two years until the recent shortage of infant formula. What may be more surprising, however, is who is to blame for the shortage of tampons. Or maybe it’s not at all surprising given the current dearth of attention to facts and science.

Some people have referenced a comedian, the men’s room, and the border as reasons for the shortage of tampons, which may sound like the start of a joke. In this case, the voice actress is Amy Schumer, who starred in the 2015 film Railway accident. As Alana Semuels described in a June 7 post Time article, Procter & Gamble (P&G), the makers of Tampax, basically blamed Schumer for the shortage of tampons. Yes, you heard right, a celebrity. Now, if you’re wondering if Schumer herself cleaned the shelves and built a fortress of tampons in her home, keep in mind that Schumer had surgery in 2021 to remove her uterus due to endometriosis. In other words, she no longer has a uterus, as Schumer reminded everyone in the following Instagram post:

Instead, apparently P&G claimed that Schumer’s “It’s Time for Tampax” ad campaign for P&G in July 2020 is what caused a surge in retail sales, with demand for Tampax “up 7, 7% over the past two years,” according to Semuels. And this unexpected demand exceeded P&G’s supply. Semuels added that “the company operates its Auburn, Maine Tampax plant 24/7 to meet demand.” This single factory would manufacture all of P&G’s tampons, similar to how a single factory in Dover, Delaware is responsible for all Edgewell Personal Care tampon stock, including the Playtex and ob brands.

Meanwhile, Rep. Marjorie Taylor Greene (R-Georgia), who is not officially a comedian, scientist or supply chain expert, laid the blame elsewhere. And one of his targets is close to, well, you can see that in the following June 13 tweet from Taylor Greene:

As you can see, Taylor Greene wrote, “Has anyone checked the warehouses at the border where all the infant formula is stored floor to ceiling on shelves? Eh? In the dish of peach, what does “the border” have to do with the shortage of tampons?

Taylor Greene’s tweet continued, “Or maybe a men’s room? Apparently they are available there. Before the Gazpacho police storm the men’s room to get you tampons, let’s hear what Taylor Greene had to say about tampons during her recent appearance on a Right Side Broadcasting Network (RSBN) show hosted by Brian Glenn. Unsurprisingly, this conversation also quickly went to the toilet. David Edwards, who writes for raw storyshared a video clip of her appearance in the following tweet:

Yes, in the clip, Taylor Greene claimed the shortage of tampons is “probably because men are buying tampons.” The conversation stream then continued with Glenn’s response, “We have as many beta men joining this program as they can menstruate? It’s crazy, absolutely crazy. To that, Taylor Greene replied, “They’re putting tampons in the men’s toilets,” and added, “War on women.”

Umm, try a war on evidence. Did Taylor Greene provide any real facts to back up any of these claims? Likewise, it’s hard to believe that a single celebrity ad campaign is responsible for the shortage of a product that was already essential for many people. It is unclear whether the increase in Tampax sales was an increase in the total number of tampons purchased or a switch to Tampax from other competing products such as other brands of tampons.

More obvious targets would be the things that have caused the shortage of other products since the start of the Covid-19 pandemic. Namely, shortages of raw materials, personnel and manufacturing capacity. All three for these can apply to the buffer situation. Tampons are usually made of cotton and rayon, a by-product of cotton, and cotton shortages have been reported before. Likewise, on March 26, 2021, harvard business review Bindiya Vakil’s article describes supply chain issues with plastic, another key component of tampons.

Additionally, while relying on so few factories to make all the pads rather than maintaining more redundancy can reduce costs when all goes well, it does make the entire pad supply chain much more vulnerable. to disturbances. In other words, if you try to keep everything running all the time without too much extra capacity, you’re going to get caught with your proverbial pants down when the supply of raw materials, personnel or equipment or demand changes, like what happened during the Covid-19 pandemic. A well-built supply chain is meant to be like a good pair of yoga pants, resilient and able to adapt to changes in different aspects of supply and demand.

This is especially important for basics, things you need on a regular basis, like tampons. Tampons aren’t luxury items like champagne trunks or sleeveless hoodies. You can’t just say, “Okay, maybe I won’t be buying tampons for the next few months. Instead, your body will just tell you when tampons are needed, period. Thus, with demand remaining continuous, any interruption in the flow of tampons to the shelves could lead to the shortages seen today.

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Cubans turn to electric transport https://coachoutletonlinespick.org/cubans-turn-to-electric-transport/ Sat, 18 Jun 2022 01:12:26 +0000 https://coachoutletonlinespick.org/cubans-turn-to-electric-transport/ Santa Clara (Cuba) (AFP) – There is a new spectacle on the streets of Havana: electric vehicles are multiplying among the old American cars so emblematic of the Cuban capital. As fuel shortages and US sanctions take their toll, and even though power generation can be spotty, Cubans are turning to smaller, cheaper alternatives. “Gasoline? […]]]>

Santa Clara (Cuba) (AFP) – There is a new spectacle on the streets of Havana: electric vehicles are multiplying among the old American cars so emblematic of the Cuban capital.

As fuel shortages and US sanctions take their toll, and even though power generation can be spotty, Cubans are turning to smaller, cheaper alternatives.

“Gasoline? Imagine. After 50 years of struggling to get it, I don’t even want to smell it anymore!” Taxi driver Sixto Gonzalez, 58, told AFP atop the shiny electric blue quadricycle with which he travels through the streets at a top speed of around 40 kilometers (25 miles) per hour.

Gonzalez ditched his old combustion engine car, one of some 600,000 registered on the island of 11.2 million people, according to official data.

The last time he tried to fill it, he stood in line for eight hours.

The vast majority of cars on the road in Cuba are American models from the 1950s – before the sanctions began – and compact Ladas from the Soviet era.

A quadricycle can be purchased for between $4,000 and $8,000, a fraction of the price of a traditional car Yamil LAGE AFP

Newer models are virtually impossible to get your hands on and cost between around $20,000 and $100,000.

The quadricycle Gonzalez bought, by comparison, can be had for between $4,000 and $8,000 and, although slower, can carry four or five people from point A to point B.

Electric motorcycles, estimated to number between 40,000 and 50,000 in Cuba, are also increasingly popular, and three-wheelers all the more frequently seen dragging a car full of passengers or cargo.

“Museum on Wheels”

At a once-abandoned Soviet-era truck factory in the central city of Santa Clara, about 100 Minerva workers assemble electric vehicles with parts imported from China or Vietnam.

The goal for 2022 is to produce 10,000 electric motorcycles, Minerva boss Elier Perez told AFP, double the factory’s previous record, as well as 2,000 three-wheelers.

“I had to buy one because there was no more fuel and the queues are endless,” said Raul Suarez, a 52-year-old security guard who bought himself an electric motorbike.

Minerva factory aims to assemble 10,000 electric motorcycles in 2022
Minerva factory aims to assemble 10,000 electric motorcycles in 2022 Yamil LAGE AFP

“I need to be able to move around.”

Not only are cars expensive and scarce, but public transport in the capital is a daily ordeal for many.

Half of the buses are out of service for lack of tires and batteries that cannot be imported due to US sanctions, said Transport Ministry official Guillermo Gonzalez.

Habanese people sometimes wait for hours for a bus to go to work or go home.

Meanwhile, fuel shortages have worsened since the United States in 2019 tightened its six-decade-old economic blockade on the communist island, preventing the arrival of tankers from Venezuela, a Cuban ally.

Oil supply has fallen from 100,000 barrels per day to around 56,000 barrels per day on average in 2021, said Jorge Pinon, a Cuban energy policy expert at the University of Texas.

Three years ago the government started promoting the use of electric cars
Three years ago the government started promoting the use of electric cars Yamil LAGE AFP

Three years ago, the government started promoting the use of electric cars, introducing them to public companies for use by workers.

“Cuba is a museum on wheels,” Gonzalez said of the abundance of decades-old gas guzzlers.

Cuba's oil supply has fallen from 100,000 barrels per day to around 56,000 barrels per day on average in 2021
Cuba’s oil supply has fallen from 100,000 barrels per day to around 56,000 barrels per day on average in 2021 Yamil LAGE AFP

It is hoped that a rollout of electric cars will reduce “fuel consumption…and at the same time reduce pollution”, he added.

Like a fridge

But the electricity supply is also a problem.

For weeks, Cubans have had to deal with regular blackouts, sometimes lasting several hours at a time, due to production breakdowns and maintenance work on thermoelectric plants.

And in a bid to fill some of the shortage, authorities have turned to generators that consume much of the limited supply of diesel.

“There has never been a more difficult situation than the one we are currently experiencing, and there are still three months of summer ahead,” Pinon said, referring to the annual increase in hot weather demand for energy to run air conditioners.

Ramses Calzadilla, director of strategy at Cuba’s energy ministry, said he was confident power generation would soon be restored to full capacity and insisted the situation did not threaten the booming electricity sector. electric vehicles.

“An electric motorcycle consumes about as much energy as a refrigerator,” he told AFP, and can be recharged quickly and cheaply between scheduled power outages.

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Production at struggling infant formula factory halted by storm https://coachoutletonlinespick.org/production-at-struggling-infant-formula-factory-halted-by-storm/ Thu, 16 Jun 2022 12:54:00 +0000 https://coachoutletonlinespick.org/production-at-struggling-infant-formula-factory-halted-by-storm/ Bad weather forced Abbott Nutrition to suspend production at a Michigan infant formula plant that had just restarted after being closed for several months, contributing to a national shortage. Production of Abbott’s EleCare specialty formula has been suspended, but there is enough supply to meet demand until production restarts, the company said. Abbott had prioritized […]]]>

Bad weather forced Abbott Nutrition to suspend production at a Michigan infant formula plant that had just restarted after being closed for several months, contributing to a national shortage.

Production of Abbott’s EleCare specialty formula has been suspended, but there is enough supply to meet demand until production restarts, the company said. Abbott had prioritized increasing production of the specialty formula for infants with severe food allergies and digestive issues who have few other options for nutrition.

Abbott says he needs to assess the damage and remediate the plant after severe thunderstorms and heavy rain swept through southwest Michigan late Monday. Spokesman Jonathon Hamilton said flooding affected a few areas of the plant, but he declined to provide specific details of the damage.

The storm also brought high winds, hail and power outages to Sturgis, Michigan, where the plant is located. The company expects production and distribution to be delayed for a few weeks due to factory cleanup.

Once restarted, the plant will begin production of EleCare and other specialty formulations. Abbott says it also plans to restart production of its Similac formula as soon as possible.

Abbott originally restarted the plant on June 4 after it had been closed since February due to contamination.

The plant was closed after the Food and Drug Administration began investigating four bacterial infections in infants who consumed powdered formula from the plant. Two of the babies died. The company continues to claim that its products have not been directly linked to infections, which involved different bacterial strains.

FDA inspectors eventually uncovered a slew of violations at the plant, including bacterial contamination, a leaky roof, and lax safety protocols.

Abbott recalled several major infant formula brands in February, including Similac. This reduced supplies that had already been strained by supply chain disruptions and storage during the COVID-19 shutdowns.

The current shortage of infant formula has been most severe for children with allergies, digestive issues and metabolic disorders who rely on specialized formulas. Federal officials said the Abbott plant is the sole source of many of these products, providing nutrition to about 5,000 US babies, according to federal officials.

Abbott is one of only four companies that produce about 90% of the American formula. Hamilton said Abbott produced 8.7 million pounds of infant formula in June, or 95% of what it produced the month before the recall.

He said much of that production was for Similac, and the figure doesn’t include anything from the Sturgis plant.

Federal officials said it could take several more weeks before supplies of the preparations return to normal levels. President Joe Biden’s administration eased import rules for foreign manufacturers, airlifted the formula from Europe and invoked federal emergency rules to prioritize U.S. production.

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Supply Chain Issues Delay SoftIron Sydney Factory Launch – Hardware – Storage https://coachoutletonlinespick.org/supply-chain-issues-delay-softiron-sydney-factory-launch-hardware-storage/ Tue, 14 Jun 2022 20:41:00 +0000 https://coachoutletonlinespick.org/supply-chain-issues-delay-softiron-sydney-factory-launch-hardware-storage/ Jason Ven Der Schyff, SoftIron soft iron High-performance computing data center and storage provider SoftIron has pushed back the opening of its plant in Botany Bay, NSW, due to equipment being delayed by ongoing international supply chain issues. In March, the company said iTnews he expected his factory to start production in June, but last […]]]>



Jason Ven Der Schyff, SoftIron

soft iron

High-performance computing data center and storage provider SoftIron has pushed back the opening of its plant in Botany Bay, NSW, due to equipment being delayed by ongoing international supply chain issues.

In March, the company said iTnews he expected his factory to start production in June, but last week COO Jason Van Schyff said iTnews, “The great irony of building a facility that will make us more resilient as a nation to supply chain issues, is to tackle supply chain issues.”

Van Schyff said a South Korean pick-and-place machine — a robot that assembles chips onto circuit boards for soldering — was delayed four to six weeks. It is one of three that the company puts into service.

Some control systems are also being delayed, he said, because “the world has been hit massively by supply chain issues around semiconductors.”

As a result, a multi-million dollar factory expects controllers worth “a few hundred dollars”.

When operational, Van Schyff said the production target is 3,000 to 5,000 units per year with single-shift workloads, which could be doubled “without too much trouble”. .

“We could probably double that again, if we needed to,” he said.

Australian manufacturing will double the existing capacity of SoftIron, which is currently based solely in California.

The Australian factory followed news that the company had won a contract to supply 19PB of Ceph-based storage for the National Computational Infrastructure (NCI) in Canberra.

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Pakistani garment workers left destitute and starving after Missguided collapse | Global development https://coachoutletonlinespick.org/pakistani-garment-workers-left-destitute-and-starving-after-missguided-collapse-global-development/ Sun, 12 Jun 2022 18:49:00 +0000 https://coachoutletonlinespick.org/pakistani-garment-workers-left-destitute-and-starving-after-missguided-collapse-global-development/ Hundreds of garment workers in Pakistan making clothes for collapsed fast fashion brand Missguided say they have been left destitute and starving after not receiving a salary for more than four months. The workers, who typically earn between £100 and £160 a month, say that despite not being paid they continued to work even when […]]]>

Hundreds of garment workers in Pakistan making clothes for collapsed fast fashion brand Missguided say they have been left destitute and starving after not receiving a salary for more than four months.

The workers, who typically earn between £100 and £160 a month, say that despite not being paid they continued to work even when the Manchester-based retailer went into business, with suppliers saying the company is helping them. owes millions of pounds for clothes already completed. and shipped.

In Faisalabad, one of Pakistan’s textile heartlands, workers at the Bismillah factory have been making clothes exclusively for Missguided since 2017.

Amna Rani was fired along with hundreds of other colleagues and says she hasn’t been paid since January. Photograph: Shah Meer Baloch/The Guardian

Amna Rani, 21, the only source of income for her extended family, says she hasn’t received a salary since January and is reduced to begging bread from neighbors to feed her younger siblings .

“Now nobody even gives us a loan to buy food,” she said. “My landlord asks us to pay or leave the house. How can I pay it without getting my salary? My dad was admitted to the hospital and I don’t have a penny to pay his hospital bills.

Rani said last week, after months of working without pay, she was fired along with hundreds of her co-workers when factory management told them Missguided had failed to pay her bills.

Another employee, Muhammad Irfan, said many workers suffer from severe depression after not receiving their pay.

“We don’t know what to do in this situation. Whether to commit suicide or become a thief. I cannot survive without receiving our salary every month, but it has been over four months. Missguided and the UK government should help us or the government should force the company to pay for the Bismillah factory.

Inside the Bismillah factory, mountains of Missguided clothing boxes lie abandoned. Like most suppliers in poor countries used by global fashion brands, suppliers are expected to prepay for all clothing orders, with invoices only issued when goods are complete and ready to ship.

Mohammed Irfan pictured at the Bismillah factory where he works
Mohammed Irfan says the situation has left many workers depressed and desperate. Photograph: Shah Meer Baloch/The Guardian

“They never told me they were facing a financial crisis, Missguided kept us in the dark,” says Nadeem Siddique, the owner of the Bismillah factory. “[In the past few months] we have shipped hundreds of thousands of garments they ordered and thousands more are stuck in our warehouses and port for shipment. We don’t have a single dollar for these clothes. We have no choice but to lay off the workers.

Siddique said the factory started supplying Missguided in 2017, and in 2019 the company said it wanted to increase orders and asked the factory to expand and hire more workers, and to produce exclusively for the brand.

“Since 2019, we have been making 200,000 pieces for Missguided every month,” Siddique said at his office in Faisalabad, claiming Missguided owed him more than £2million in unpaid invoices.

Nadeem Siddique, owner of the Bismillah factory in Faisalabad, seated at a desk.
Nadeem Siddique, owner of the Bismillah factory, which made 200,000 pieces for Missguided every month. Photograph: Shah Meer Baloch/The Guardian

“After they asked us to increase capacity, we hired another 300 workers, but now Missguided has left us alone with threats from investors, vendors and workers,” he said. “They even placed an order with us in May that was supposed to ship in June.”

Hundreds of workers in Spry Sports A factory in the town of Sialkot, which made around 200,000 clothes for Missguided every month, says it is also going hungry after not receiving any pay for months.

“My children have stopped going to school. They have no money to buy notebooks and books. We have no food,” said Rihana Naeem, 40, who says she hasn’t been able to afford her kidney medication since her salary stopped being paid.

“For more than a month, I have been crying, begging and praying for my salary. God only knows how I survive, I have to beg people for money.

Shams Ghulam, the owner of Spry Sports, said they kept asking Missguided for workers’ wages to be paid, but received no response.

“Western countries say they are civilized and care about workers and labor rights, but can you ask these companies, what does a supplier have to do to pay their workers?” he said. “Is it my fault that I didn’t pay my workers? No. I have to pay the investors, my partners and my employees. The business started with a promise and a trust, but Missguided broke both.

Since taking office, “certain intellectual properties” of Missguided have been purchased by Frasers Group, controlled by Sports Direct founder Mike Ashley, for £20million in cash. The business will continue to be operated by the administrator under a transitional agreement for approximately eight weeks.

The Clean Clothes Campaign said Missguided workers in Pakistan face “wage theft” and destitution as shareholder profits will be protected.

“Missguided, co-owner Alteri, and appointed administrators must act urgently to ensure that workers in Pakistan and elsewhere receive their wages,” said Meg Lewis, campaigns manager at the Clean Clothes Campaign.

We see the tip of the iceberg in terms of Missguided supply chain workers who are facing the crisis. This again highlights the gross injustice that brands can impose discounts or refuse to pay for goods that have already been shipped. It is likely that many workers’ stories will never be told and the true scale of the impact will remain hidden,” she said.

Teneo Financial Advisory, which was appointed by Missguided to oversee its administration, declined to comment.

Help is available in the UK and Republic of Ireland by contacting Samaritans on 116 123 or emailing jo@samaritans.org. In the United States, the National Suicide Prevention Lifeline is 1-800-273-8255. In Australia, the Lifeline crisis helpline is 13 11 14. Other international suicide helplines can be found at www.befrienders.org

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Hyundai Motor factories in extra weekend, South Korean truckers’ strike continues https://coachoutletonlinespick.org/hyundai-motor-factories-in-extra-weekend-south-korean-truckers-strike-continues/ Sat, 11 Jun 2022 05:29:00 +0000 https://coachoutletonlinespick.org/hyundai-motor-factories-in-extra-weekend-south-korean-truckers-strike-continues/ ULSAN, South Korea, June 11 (Reuters) – A huge factory complex Hyundai Motor Co (005380.KS) added weekend production on Saturday, despite a nationwide strike by truckers hitting ports and other South Korean industrial giants, including steelmaker POSCO (005490.KS). On the fifth day of the strike, around 100 union truckers, about a tenth of Friday’s show […]]]>

ULSAN, South Korea, June 11 (Reuters) – A huge factory complex Hyundai Motor Co (005380.KS) added weekend production on Saturday, despite a nationwide strike by truckers hitting ports and other South Korean industrial giants, including steelmaker POSCO (005490.KS).

On the fifth day of the strike, around 100 union truckers, about a tenth of Friday’s show of force, gathered at the main gate of the Hyundai factory in the southern city of Ulsan, protesting the surge in fuel prices and demanding higher freight rates to cover costs.

Around 800 striking trade unionists were gathering at the gates of a nearby major petrochemical complex in Ulsan. They had reduced the number of vehicles to a tenth of normal levels on Friday, according to union officials.

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South Korea is a major supplier of semiconductors, smartphones, automobiles, batteries and electronic products. The strike has added uncertainty to global supply chains already disrupted by China’s tough COVID-19 restrictions and Russia’s invasion of Ukraine.

The Department of Transport said on Saturday it planned to meet union representatives to continue talks aimed at ending the strike and called on union members to return to work immediately.

At the country’s main seaport in Busan, which handles around 80% of the country’s container movement, traffic had fallen to a third of normal levels on Friday, a government official said.

Around 7,350 truckers, or a third of the 22,000 members of the Cargo Truckers Solidarity union, were due to strike on Saturday, the transport ministry said. The government estimates that about 6% of the country’s 420,000 truckers are unionized.

The union argued that more truckers were on strike and that many non-union truckers are also choosing not to work.

A Hyundai Motor union official said production at Ulsan factories increased slightly in some lines on Friday and the plant was operating at around 60% of its overall capacity, slightly above the 50% to 60% level of Thursday.

Hyundai declined to comment on the status of its operations or the delivery of finished cars.

“There are disruptions in our production due to the truckers’ strike, and we expect production to be normalized as soon as possible,” a Hyundai spokesperson said.

The union official said Saturday’s plant operation had not been scheduled due to worsening parts supply problems, but the company was moving forward, likely to face growing back orders.

Hyundai workers began driving finished cars out of the factory complex and parking those that could not be delivered to customers because the space inside had filled up, he said.

Outside the factory gates and ports, union members waved at approaching vehicles driven by non-union truckers, asking them not to continue but to cooperate with the strike. They weren’t blocking the doors.

The union said the strikers would not stop the trucks from passing through the factory gates and that the police were on the scene.

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Reporting by Byungwook Kim in Ulsan and Heekyong Yang in Seoul; Written by Jack Kim; Editing by William Mallard

Our standards: The Thomson Reuters Trust Principles.

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BioNTech will soon start construction of an mRNA vaccine factory in Rwanda https://coachoutletonlinespick.org/biontech-will-soon-start-construction-of-an-mrna-vaccine-factory-in-rwanda/ Thu, 09 Jun 2022 13:35:00 +0000 https://coachoutletonlinespick.org/biontech-will-soon-start-construction-of-an-mrna-vaccine-factory-in-rwanda/ FRANKFURT, June 9 (Reuters) – COVID-19 vaccine maker BioNTech (22UAy.DE) said construction of an mRNA vaccine factory to enable African countries to start their own manufacturing network would begin on June 23 in Rwanda. The groundbreaking ceremony in the capital Kigali is to be attended by Rwandan President Paul Kagame, other African heads of state, […]]]>

FRANKFURT, June 9 (Reuters) – COVID-19 vaccine maker BioNTech (22UAy.DE) said construction of an mRNA vaccine factory to enable African countries to start their own manufacturing network would begin on June 23 in Rwanda.

The groundbreaking ceremony in the capital Kigali is to be attended by Rwandan President Paul Kagame, other African heads of state, as well as representatives of the European Union and the World Health Organization, said the biotech company said in a statement Thursday.

Elements of the German firm’s modular plant, which will be assembled in Africa as so-called BioNTainers, will be delivered to the Kigali yard by the end of 2022, he added.

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The company, which has developed the most widely used COVID-19 vaccine in the Western world with its US partner Pfizer (PFE.N), drew up a plan earlier this year to enable African countries to produce its Comirnaty-branded vaccine under supervision of BioNTech. Read more

The company said the initial vaccine factory, made from an assembly kit and housed in shipping containers, will over the next few years become part of a wider supply network spanning multiple countries. African countries, including Senegal and South Africa.

The push for the project comes as Western-made coronavirus vaccine doses finally arrive in force on the continent, after a much-criticized delay.

But adoption in Africa has fallen short of expectations, due to misinformation, logistical issues and a lack of sense of urgency among the population, among other factors. Read more

BioNTech said BioNTainers may manufacture additional mRNA vaccines for malaria or tuberculosis, depending on product development progress and future public health priorities.

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Reporting by Ludwig Burger Editing by Madeline Chambers, Elaine Hardcastle

Our standards: The Thomson Reuters Trust Principles.

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Foxconn’s EV Push takes it back to the future https://coachoutletonlinespick.org/foxconns-ev-push-takes-it-back-to-the-future/ Mon, 06 Jun 2022 04:40:15 +0000 https://coachoutletonlinespick.org/foxconns-ev-push-takes-it-back-to-the-future/ Placeholder while loading article actions Consider, if you will, a scenario where Foxconn Technology Group enjoys margins three times larger than Apple Inc. $100 billion a year, while whoever makes these devices earns 5% of that. But that used to be the case. It was 1996 and Hon Hai Precision Industry Co., the flagship of […]]]>
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Consider, if you will, a scenario where Foxconn Technology Group enjoys margins three times larger than Apple Inc. $100 billion a year, while whoever makes these devices earns 5% of that.

But that used to be the case. It was 1996 and Hon Hai Precision Industry Co., the flagship of Foxconn, posted a gross margin of 31% while Apple only delivered 9.8%. It was a historic low for the Cupertino company, during Steve Jobs’ hiatus from the company he founded. It was also a record for the Taiwanese electronics manufacturer. The roles have since changed and last year they posted figures of 42% and 6%, respectively.

Yet Foxconn has a plan to reverse its declining margin by returning to the core business that Terry Gou started nearly 50 years ago, a business that predated the iPod and iPhone and was driven by a boom in computers, the first game consoles and even matrix games. printers. If Gou’s successor, current chairman Young Liu, is right, today’s electric vehicles could be akin to the PCs of the 1990s and could become a catalyst for levels of profitability not seen in 20 years.

By the mid-1990s, personal computer adoption was booming, with consumers, schools, and businesses rushing to install these beige metal boxes on their desks. Companies like Compaq Computer Corp. and Dell Computer Corp. were growing rapidly and the Internet was in its infancy. Gou found his niche early on, developing and producing the myriad of small components that connect all parts of a computer – hence the Foxconn name. While these little pieces of technology had low prices, customers bought them by the bucket and Foxconn could charge huge markups.

Large-scale assembly of electronic gadgets didn’t happen until the turn of the century, when Jobs and his lieutenant Tim Cook needed someone to manufacture their new successful iPod on a large scale and with a deadline. fast execution. Soon, Foxconn’s factory in Shenzhen, southern China, was dubbed iPod city and would later become the global hub for iPhone assembly.

Although it has hired up to a million workers to assemble all the parts of a smartphone, Foxconn’s device assembly business is not so profitable and has very slim margins. Instead, the company makes more money by making or buying the parts that go inside and charging customers a premium on the cost. Assembly of the final product is seen more as an additional service for the customer, a service that gives Foxconn more control over the whole process and the components that go into it.

This is where electric vehicles come in.

At its annual shareholder meeting last week in Taipei, Liu – who took over from Gou in 2019 – spent a lot of time talking about the company’s plans for electric vehicles. Over the past three years, it has opened factories or entered into manufacturing agreements in the United States, Mexico, Taiwan, China, Indonesia and Thailand. Among its clients are the American startups Lordstown Motors Corp. and Fisker Inc. as well as European automaker Stellantis NV. Almost no mention was made of smartphones, let alone Apple, which accounts for half of its revenue.

Liu’s ambitions are bold, bordering on the fantastical. Within three years, he expects Foxconn to ship 500,000 to 750,000 electric vehicles, take 5% of the global market and achieve NT$1 trillion ($34 billion) in annual industry sales (or 15% of total 2021 turnover). Even more ambitious, it is aiming for a two-thirds increase in gross margin to 10% – a figure not seen since 2005, two years before the release of the iPhone.

But producing cars from Detroit-style assembly lines isn’t the goal. Instead, Foxconn thinks of EVs as PCs, a huge computer on wheels, which requires a ton of components inside. He wants to be the company that supplies those parts and enjoy the big margins that come with it.

Foxconn has already launched a consortium of partners – called MIH – to agree on industry standards, and has a reference design for any customer who wants an “off-plan” car. This is very similar to how the PC industry developed in the 1980s and 1990s, when a plethora of incompatible components and connectors – think flat ribbon printer cables – slowly gave way common technologies such as USB and Ethernet cables. This means that, just like with PCs, Foxconn doesn’t need to produce every electric vehicle in the world to make money from every unit it ships. For example, it counts Tesla Inc. as a customer for components while chief executive Elon Musk made the strategic decision to keep assembly in-house.

Foxconn is also betting on chips used in cars, which have been in short supply for the past two years. By the end of 2023, it will operate at least three semiconductor fabs, using older technologies best suited to automotive components. It may fail. Although Liu himself is an electrical engineer by training, the company’s chip prowess is unproven, especially compared to goliaths like Taiwan Semiconductor Manufacturing Co. and United Microelectronics Corp. the average car contains more chips than all the appliances in an average household combined.

If those bold plans come to fruition, Foxconn could become as ubiquitous in the electric vehicle industry as it once was in PCs – a position it now enjoys in the smartphone space. If not, the company that makes your iPhone may be remembered.

More from this writer and others on Bloomberg Opinion:

• Tesla is hedging its global supply chain bets: Anjani Trivedi

• Tech companies have found a way out of China: Tim Culpan

• Manufacturers embrace the DIY supply chain: Brooke Sutherland

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Tim Culpan is a Bloomberg Opinion columnist covering technology in Asia. Previously, he was a technology reporter for Bloomberg News.

More stories like this are available at bloomberg.com/opinion

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