DOCSLIB.ORG

Cash Holdings of 25 Companies of $387 Billion Could Increase the Wages in Their Combined Hidden Workforce of 71,713,500 By

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Cash Holdings of 25 Companies of $387 Billion Could Increase the Wages in Their Combined Hidden Workforce of 71,713,500 By Citation for published version: Howard, N 2016, Scandal: Inside the Supply Chains of 50 Top Companies. International Trade Union Confederation. <https://www.ituc-csi.org/IMG/pdf/pdffrontlines_scandal_en-2.pdf> Publication date: 2016 Document Version Publisher's PDF, also known as Version of record Link to publication Publisher Rights CC BY University of Bath Alternative formats If you require this document in an alternative format, please contact: [email protected] General rights Copyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights. Take down policy If you believe that this document breaches copyright please contact us providing details, and we will remove access to the work immediately and investigate your claim. Download date: 02. Oct. 2021 Scandal Inside the global supply chains of 50 top companies Frontlines Report 2016 Contents Foreword ............................................................................................................3 1. How the world’s largest companies built a global business model on low wage workers, with few rights, in unsafe workplaces ............. 6 2. Profits and workers: 50 companies with the power to reduce inequality .......................................................................................10 3. Company profiles: A look inside 25 companies and their global supply chains ...........................................................................16 4. Evidence of forced labour in global supply chains .......................... 33 5. Testimony from Cambodia: Low-wage workers in global supply chains ..................................................................................................36 6. Scandal reportage: Episode previews ................................................38 Appendix: Methodology ...............................................................................41 Cover Photo: Steve Juvetson under CCBY 2.0 via Wikimedia Commons Foreword ITUC Frontlines Report 2016 3 ITUC Frontlines Report 2016 Why is the global business model in such bad shape? With global GDP having trebled in just 30 years and The 50 companies listed in this report could act to major corporations commanding 60 per cent of global change the model of global trade. production, transport and services through their supply chains, the respect for rights, the guarantee of minimum They have the resources and the reach. living wages and collective bargaining for a fair share of the profits through higher wages with safe, secure Working people pay the price of the scandal – slavery, and skilled work should be the norm. informal work, precarious short-term contracts, low wages, unsafe work and dangerous chemicals, forced Instead we have a model where companies can’t or overtime, attacks by governments on labour laws and won’t identify their supply chains and their hidden social protection, inequality – it’s all part of a great workforce. They preside over profits based on low global scandal that is today driven by corporate greed wages, lobby against minimum living wages or regu- with an eternal quest for profit and shareholder value. lations designed to ensure safe and secure work and turn a blind eye to the use of informal work or even Consequently we have a business model that has lost its slavery in their employ. moral compass. For big business, labour is increasingly just a commodity and labour rights are bad for business. Workers know it’s a scandal; their families know it’s a scandal. Governments know too but lack the courage Just 50 companies hold a combined wealth equiva- to act. Even the CEOs of 50 of the world’s largest com- lent to that of 100 nations. Our governments – even panies know it’s a scandal, but to admit it would be to those democratically elected – are influenced by their accept responsibility. interests. Foreword They only employ six per cent of people in a direct em- And when the world’s largest institutions like FIFA are ployment relationship but they rely on a hidden work- riddled with corruption and think it’s fine to have the force of 94 per cent – a massive convenient workforce World Cup in a slave state, the world has turned its hidden in the shadows of global supply chains. back on the fundamental rights of workers. Just a handful of these companies could recognise This business model is one designed by choice and their workforce and change the lives of millions of driven by corporate greed. The facts are that the working people. world’s GDP has trebled since 1980, yet inequality is at historic levels. 60 per cent of global trade in In 2016 the world’s wealthiest one per cent hold more the real economy is dependent on net wealth than the other 99 per cent put together. the supply chains of our major The wealth generated by workers is not being shared corporations. with them. Increasing numbers of workers are trapped in the hidden workforces of the richest companies in the world. They have no job security and work long The world has reached a tipping point. Sixty per cent hours for poverty wages in unsafe environments or of global trade is now driven by big business which, with unsafe products. without apology, uses a business model based on ex- ploitation and abuse of human rights in supply chains. Working people and their families have had enough. Workers’ rights at home or abroad mean little or noth- ing to the heads of major corporations. The ITUC Global Poll shows 94 per cent of people want CEOs of these companies must take a good look at the the guarantee of labour rights as a foundation for glob- business model they preside over. al trade. More than nine in ten people want stronger rules to hold corporations accountable for better wag- They must know their profits are too often driven by low es and conditions. Eighty-eight per cent of people want wage levels that people cannot live on; that these prof- minimum wages lifted around the world. its risk safety with the result of indefensible workplace injuries and deaths; that these profits are increased by When global business won’t pay the moderate de- tax evasion or tragically linked to pollution of commu- mands of workers for a minimum wage on which they nity land and water, even while their lobby teams are can live with dignity – US $177 a month in Phnom Penh; turning governments against the rule of law that would hold them to account. When labour laws, wages, pensions and job security are under attack in too many countries, we have a com- mon enemy: corporate greed. When a textile worker like Rina from the Philippines ex- plains she cannot tell her twelve-year-old son if she will be home to cook him a meal or say goodnight because she is forced to work extra shifts without notice, this is not decent work. When men gathering seafood that ends up on our ta- bles are enslaved on boats in Indonesian waters with- out living quarters and sanitation for months on end, there is no hope for them of decent work without us. Chart 1: Trust in Global Companies (G7 Total) ITUC FrontlinesChart Report 2:2016 Trust 5 in Global Companies (By Country) ITUC Frontlines Poll And if governments prioritise the dignity of the social protection floor for their people – theFrance basic income Germany Trust in Global Companies and the public services that ensure sustainable and France, Germany, UK, USA peaceful communities – the endless race to the bot- Can't be trusted 18% tom would stop and we could rebuild economic31% justice. 54% 17% Stop the scandal, end Can be trusted 66% 20% corporate greed, clean up 15%the world’sCan't be workplaces. trusted Don't know 55% Can be trusted The ITUC has profiled 25 companies to demonstrate theirDon't wealth, know their global footprints, andUnited the numbers Kingdom United States of working livelihoods dependent on their behaviour. Many of these are hidden workers. 25% 24% 26% We have profiled the fears and the despair of workers 47% in Asian countries and we have provided a preview of 54% a series of corporate scandals we will release in video Can’t be trusted episodes.G7 Country Mean 22% Can be trusted 27% Don’t know Four Country Mean Another 25 corporate profiles will follow in our next edition with stories from more regions and continents. US $250 in Jakarta, US $345 in Manila – then this is knowingly condemning workers and their families to We will continue to offer dialogue with companies to live in poverty. It’s greed, pure and simple. help establish minimum living wages, and to bargain Notes: G7 countries included are France, Germany the United Kingdomwith unions and forthe higher-skilled United States. workers Sample in allsizes sectors. for these countries are included in the methodology It doesn’t have to be this way. A few simple actions Question: wouldPeople transform are divided the businesson the best model. way to ensure that workersBut we around also insist the thatworld governments get fair wages, mandate right thes and due conditions. Some believe that global companies diligence that the UN Guiding Principles on Business can be trusted to look after workers in all countries that supply their business, Other people believe that tougher laws are needed to make sure workers get fair Government leaders should implement and enforce and Human Rights require. And that companies face the wages, rightsthe andrule ofconditions. law. If every Which nation one held is itsclosest big corporations to your view? consequences Most global forcompanies infringements can beof decenttrusted work. to look after their workers in different countries OR most global companiesresponsible can’t for be theirtrusted business to look conduct after their at homeworkers and and tougher laws are needed abroad against the set of fundamental rights and safety It’s important to rebuild trust in our economic and social they expect in their own countries, we could end cor- future, but it requires a determination from governments, PAGE - 6 porate greed and put the global economy to work for companies and consumers to end corporate greed.
Load more

Recommended publications
  • Pou Chen Scholarship Program for International Students Master Scholarship and Management Trainee Program (MSMTP)
    Pou Chen Scholarship Program for International Students Master Scholarship and Management Trainee Program (MSMTP) I. Introduction Pou Chen International Group is the world’s leading and largest footwear manufacturer annually producing more than 200 million pairs of shoes for name brands such as Nike, Adidas, Reebok, Asics, Puma, New Balance, etc. Pou Chen has 500 thousand employees worldwide, in Taiwan, China, Indonesia, Vietnam, Cambodia, Bangladesh, and Mexico. Pou Chen has three companies listed in the stock market, Pou Chen Corporation in Taiwan, Yue Yuen Industrial and Pou Sheng International in Hong Kong. Graduate recruitment and development are Pou Chen’s long-term business strategy to prepare outstanding human resources with academic knowledge, fulfilled experience, professional skills and leadership who can contribute to our sustainable future. Together with the global strategy, Pou Chen Indonesia and Vietnam design Master Scholarship and Management Trainee Program (MSMTP), aiming to support creative, talented and ambitious candidates on the journey to participate in Top Management Team in local factories. The mission of our program is to enrich our manpower with managers of great caliber who can lead our development. The MSMTP campaign in 2011 starts from now. We welcome all capable candidates. Join us and you’ll see we are strongly committed to working in partnership with you during your academic studying, world-class real-job training and challenging assignment. Pou Chen Scholarship will be granted to 10 candidates. II. Benefits of the Program 1. International master studying program at Department of Industrial Management (DIM), National Taiwan University of Science and Technology (NTUST) 2. Intensive supports and world-class trainings 3.
    [Show full text]
  • Supplier Evolution in Global Value Chains and the New Brand Game from an Attention- Based View
    Received: 15 February 2018 Revised: 28 February 2020 Accepted: 10 March 2020 DOI: 10.1002/gsj.1381 SPECIAL ISSUE ARTICLE Supplier evolution in global value chains and the new brand game from an attention- based view Christian Lechner1 | Gianni Lorenzoni2,3 | Simone Guercini4 | Gaël Gueguen5 1School of Economics and Management, Free University of Bolzano, Bolzano, Italy 2Department of Management, University of Bologna, Bologna, Italy 3Cass Business School, City University London, London, UK 4Department of Economics and Management (DIESEI), University of Florence, Florence, Italy 5Management Research Centre, Entrepreneurship and Strategy, Toulouse Business School, Toulouse Cedex 7, France Correspondence Christian Lechner, School of Economics Abstract and Management, Free University of Research Summary: Suppliers from emerging econo- Bolzano, Piazza Università 1, 39100 mies have been particularly active in acquiring brands Bolzano, Italy. from advanced economies. We analyze changes in the Email: [email protected] global value chain (GVC) of the sports shoe industry Funding information and show how hollowing out the asset bases of brand- University of Bologna (Alma Idea Funding); Open Access Publishing Fund holding firms through increasing outsourcing has of the Free University of Bozen-Bolzano enabled the emergence of rising power firms, as well as a new brand game and a market for brands. These developments in the GVC might be a future challenge for traditional brand-holding lead firms. We show that managers focused on branding
    [Show full text]
  • 2015 PCC CSR Report
    POU CHEN CORPORATION 2015 Corporate Social Responsibility Report 2 Chapter 3 Social Contribution and Community Participation Contents 3.1 Outreach Activities in Taiwan 3.2 Important Operation Bases and Community Involvement Chapter 4 Best Workplace About This Report From The Chairman 4.1 Ability and Job Compatibility 4.2 Education, Training, and Career Development Chapter I Company Profile and Corporate Governance 4.3 Comprehensive Remuneration and Benefits System 1.1 Introduction 4.4 Employee Relations 1.1.1 Core Business 4.4.1 Respect for Labor Rights 1.1.2 Organizational and Operational Structure 4.4.2 Communication Mechanisms 1.1.2.1 Organizational Chart 4.5 Employee Care 1.1.2.2 Affiliated Enterprises 4.6 Employee Participation 1.1.2.3 CSR Operational Structure 4.7 Safe Workplace 1.2 Core Values and Vision 4.7.1 Health and Safety Management 1.3 Corporate Governance 4.7.2 Loss Prevention Management 1.3.1 Board of Directors 1.3.2 Remuneration Committee Chapter 5 Environmental Conservation and Earth Sustainability 1.3.3 Audit Committee 5.1 Resource Utilization 1.3.4 Internal Audit 1.3.5 Moral Integrity and Anti-corruption 5.1.1 Material Procurement 1.4 Operational Risk Identification and Response 5.1.2 Energy Use 1.5 Lean Production and Process Optimization 5.1.3 Water Use 1.6 Operational Performance 5.2 Greenhouse Gas Emissions 5.3 Green Construction Chapter 2 Stakeholder Engagement and Material Aspects 5.4 Pollution Prevention Management 2.1 Stakeholder Engagement Chapter 6 Customer Service and Supplier Management 2.2 Identified Material Aspects and Boundaries 2.3 Major Annual Events 6.1 Customer Service 6.2 Supplier Management G 4.0 Content Index About This Report 3 About This Report Reporting Guidelines Pou Chen Corporation 2015 Corporate Social Responsibility Report (CSR Report) is aligned with the Global Reporting Initiative Version 4 Sustainability Reporting Guidelines (GRI G4), and is in compliance with its core options.
    [Show full text]
  • Pou Chen Group Assessment for Accreditation
    POU CHEN GROUP ASSESSMENT FOR ACCREDITATION FLA BOARD OF DIRECTORS MEETING JUNE 2018 POU CHEN GROUP: ASSESSMENT FOR ACCREDITATION OF THE COMPANY’S SOCIAL COMPLIANCE PROGRAM TABLE OF CONTENTS TABLE OF CONTENTS .............................................................................................................. 2 INTRODUCTION ......................................................................................................................... 3 SECTION 1: POU CHEN GROUP COMPANY AFFILIATE OVERVIEW ..................................... 4 SECTION 2: POU CHEN GROUP PRODUCTION COUNTRIES & FLA DUE DILIGENCE ACTIVITIES FROM (2012 – 2017) .............................................................................................. 6 SECTION 3: ANALYSIS OF POU CHEN GROUP LABOR COMPLIANCE PROGRAM FOR ACCREDITATION ....................................................................................................................... 7 SECTION 4: CONCLUSION AND RECOMMENDATION TO THE BOARD OF DIRECTORS .. 26 APPENDIX A: THE POU CHEN GROUP CODE OF CONDUCT .............................................. 27 One of PCG's compounds in Indonesia. www.fairlabor.org 2 POU CHEN GROUP: ASSESSMENT FOR ACCREDITATION OF THE COMPANY’S SOCIAL COMPLIANCE PROGRAM INTRODUCTION This report provides an assessment of the labor compliance program of Pou Chen Group (PCG) and concludes with a recommendation to the FLA Board of Directors regarding the accreditation of the company’s program. When joining the FLA, Participating Companies and Participating Suppliers
    [Show full text]
  • POU CHEN CORPORATION ISIN Code:TW0009904003 Generated Date: 2021/10/03 Other 33.05 0.7 High 33.8 | Low 32.85 【+/-/X Represent Up/Down/Not Compared】
    POU CHEN CORPORATION ISIN Code:TW0009904003 Generated Date: 2021/10/03 Other 33.05 0.7 High 33.8 | Low 32.85 【+/-/X represent Up/Down/Not compared】 Company Name POU CHEN CORPORATION Spokesman Shih, Chih-Hung Website www.pouchen.com Capital NT 29,467,872,130 Main Business Pou Chen Corporation (PCC) founded in 1969, through its subsidiaries and affiliates (collectively, the Group), manufactures athletic and casual footwear on an OEM/ODM basis for major global brand companies such as Nike, adidas, Asics, Reebok, Puma, New Balance, is now the largest footwear manufacture group in the world. Recently, the Group has also expanded into sportswear retail and brand licensee business in the Greater China Region. Positioned as the Group strategic planning centre, PCC turned to be an industrial holding company and is responsible for the Group's strategy development, material sourcing hub, R&D, finance, and administration management. Listing Date 1990/01/19 Industry Other Closing Price Date Closing Price Trade Volume Date Closing Price Trade Volume Date Closing Price Trade Volume 10/1 33.05 9,229,788 9/15 33.7 5,921,017 9/1 32.95 7,749,048 9/30 33.75 6,780,480 9/14 33.95 5,876,845 8/31 32.95 7,930,643 9/29 33.45 7,369,892 9/13 34.05 12,100,090 8/30 32.6 6,045,099 9/28 33.6 4,394,021 9/10 32.8 3,381,877 8/27 32.35 7,540,653 9/27 33.8 4,947,492 9/9 32.5 4,597,931 8/26 31.95 12,698,818 9/24 33.7 8,182,803 9/8 31.95 6,610,913 8/25 32.75 6,117,050 9/23 34.05 6,266,747 9/7 32.35 3,524,312 8/24 32.7 5,131,365 9/22 33.0 7,850,108 9/6 32.35 4,928,949 8/23 32.5
    [Show full text]
  • An Enhanced Uppsala Model for Rising Emnes in Global Value Chains
    An Enhanced Uppsala Model for Rising EMNEs in Global Value Chains Iris S.Y. Chen, International Business, National Taiwan University, Taiwan Yi-Long Jaw, Professor of International Business, National Taiwan University, Taiwan ABSTRACT Rising suppliers from emerging markets successfully take orders and follow global buyers’ steps to enter the internationalization process as emerging economy multinational enterprises (EMNEs). Here we present a conceptual literature review with illustrative cases to explore how EMNEs leverage international activities by linking global value chains (GVC) insights with a review of the evolution of the Uppsala models. We propose an enhanced Uppsala model for GVC participants and verify it with four high-profile Taiwanese firms from the ICT, Footwear, Textile and Automobile industries. Results indicate that EMNEs maintain flexibility to connect finely-sliced parts of value chains through various mechanisms to demonstrate their innovations. While the accelerated transformation of lead firms is important, our findings reveal that EMNEs have distinctroles and characteristics to reshape potential routes of GVC development and indicate that the examination of ecosystem position helps for future co-evolution under the dynamic GVC. Keywords: Global value chains, Uppsala model, EMNEs INTRODUCTION The increasing fragmentation of international activity has given birth to the global value chains (GVC) research stream (Kano, 2018; Laplume, Petersen & Pearce, 2016). Trade and investment liberalization, emerging economics, and the rapid pace of technological advances (Buckley & Strange, 2015; Kano, 2018; Narula, 2014) have all contributed to easier cross-border coordination of the geographically dispersed value chains of multinational enterprises (MNEs). These factors have also enabled the growth of emerging economy multinational enterprises (EMNEs).
    [Show full text]
  • Pou Chen Corporation
    Pou Chen Corporation POU CHEN GROUP No.600, Sec. 4, Taiwan Blvd., Xitun Dist., Taichung City 407, Taiwan (R.O.C.) Economic Corporate Environmental Protection Customer Service and Social Care and Performance Governance and Energy Conservation Supplier Management Friendly Workplace Community Engagement Appendix GRI G4 Appendix A: Third Party Assurance Statement 133 Appendix B: GRI G4.0 Index Table 135 Appendix C: Pou Chen Group Code of Conduct 141 Message from the Chairman 3 About Pou Chen 5 About the Report 9 Stakeholder Engagement 11 1/ Economic Performance 19 2/ Corporate Governance 25 3/ Environmental Protection and Energy Conservation 43 4/ Customer Service and Supplier Management 63 5/ Friendly Workplace 75 6/ Social Care and Community Engagement 121 PCC 2017 CSR Report 1 Economic Corporate Environmental Protection Customer Service and Social Care and Performance Governance and Energy Conservation Supplier Management Friendly Workplace Community Engagement Appendix GRI G4 Appendix A: Third Party Assurance Statement 133 Appendix B: GRI G4.0 Index Table 135 Appendix C: Pou Chen Group Code of Conduct 141 Notice to readers This English version of PCC 2017 CSR Report is translated from the Chinese version. If there is any discrepancy between the English version and the Chinese version or any difference in the interpretation of the two versions, the Chinese version shall prevail. Message from the Chairman 3 About Pou Chen 5 About the Report 9 Stakeholder Engagement 11 1/ Economic Performance 19 2/ Corporate Governance 25 3/ Environmental
    [Show full text]
  • Pou Chen Corporation
    Stock Code: 9904 POU CHEN CORPORATION 2015 ANNUAL REPORT Printed on: May 13, 2016 Annual Report is available at: http://www.pouchen.com/ http://mops.twse.com.tw/ Notice to readers This English-version annual report is a summary translation of the Chinese version and is not an official document of the shareholders’ meeting. If there is any discrepancy between the English version and Chinese version, the Chinese version shall prevail. WorldReginfo - 0ca4b06e-9194-46c6-8bb3-b648e0a17bde 1. Name, title, telephone number and e-mail address of Chang Hwa, Taiwan spokesperson and acting spokesperson: Telephone number: (04) 7695101 Name of spokesperson: Ho, Ming-Kun Title of spokesperson: Executive Senior Manager Telephone number of spokesperson: (04) 24615678 PYM Business Unit: No. 2, Fu-Kong Rd., Fu Hsin Hsian, E-mail address: [email protected] Chang Hwa, Taiwan Telephone number: (04) 7695032 Name of acting spokesperson: Chang, Yea-Fen Title of acting spokesperson: Manager 3. Name, address, e-mail address and website of the stock agency: Telephone number: (04) 24615678 Name: Grand Fortune Securities Co., Ltd. E-mail address: [email protected] Address: 6F., No. 6, Sec. 1, Zhongxiao W. Rd., Zhongzheng Dist., Taipei City 2. Address and telephone number of the head office, branch and Website: http://www.gfortune.com.tw factory: Telephone number: (02) 23711658 Address of the head office: No. 2, Fu-Kong Rd., Fu Hsin Hsian, Chang Hwa, Taiwan 4. Name of certified public accountant (“CPA”) who audited the Telephone number: (04) 7695147 (main) most recent annual financial report and name, address, website Fax: (04) 7680577 and telephone number of CPA Firm: Name of CPA: Wu, Ker-Chang and Yu, Hung-Bin Name of CPA Firm: Deloitte & Touche Head office: No.
    [Show full text]
  • Inside the Global Supply Chains of 50 Top Companies
    Scandal Inside the global supply chains of 50 top companies Frontlines Report 2016 Foreword ............................................................................................................3 1. How the world’s largest companies built a global business model on low wage workers, with few rights, in unsafe workplaces .............6 2. Profits and workers: 50 companies with the power to reduce inequality .......................................................................................10 3. Company profiles: A look inside 25 companies and their global supply chains ...........................................................................16 4. Evidence of forced labour in global supply chains ..........................33 5. Testimony from Cambodia: Low-wage workers in global supply chains ..................................................................................................36 6. Scandal reportage: Episode previews ................................................38 Appendix: Methodology ...............................................................................41 Cover Photo: Steve Juvetson under CCBY 2.0 via Wikimedia Commons Foreword ITUC Frontlines Report 2016 3 ITUC Frontlines Report 2016 With global GDP having trebled in just 30 years and The 50 companies listed in this report could act to major corporations commanding 60 per cent of global change the model of global trade. production, transport and services through their supply chains, the respect for rights, the guarantee of minimum They have the resources
    [Show full text]
  • A Reverse Perspective on Global Value Chains: Implications from the Internationalization of Rising Emerging Market Firms
    A Reverse Perspective on Global Value Chains: Implications from the Internationalization of Rising Emerging Market Firms Iris S.Y. Chen National Taiwan University Yi-Long Jaw National Taiwan University The emergence of global value chains (GVC) has broadened the configurations of business activities across the entire value chains, yet little attention has been paid to the suppliers compared to lead firms. Rising suppliers from emerging markets successfully take orders and follow global buyers’ steps to enter the internationalization as emerging market (EM) firms. This conceptual study aims to explore how EM suppliers leverage GVC to demonstrate reverse innovation by linking GVC research with enriched insights from a literature review of the Uppsala model. We argue that the suppliers have distinct roles as another possible route to drive GVC development. Keywords:Global value chains, Uppsala model, Emerging market firms INTRODUCTION The increasing fragmentation of international business activity has given birth to the global value chains (GVC) research stream (Kano, 2018; Laplume, Petersen & Pearce, 2016; Mudambi, 2007, 2008). Trade and investment liberalization, emerging economics, and the rapid pace of technological advances (Buckley & Strange, 2015; Kano, 2018; Narula, 2014) have all contributed to easier cross-border coordination and management of the disaggregated functions and geographically dispersed value chains of multinational enterprises (MNEs). To clarify the dynamics of GVC, Kano (2018) has applied insights from new internationalization
    [Show full text]
  • Scandal: Inside the Global Supply Chains of 50 Top Companies
    Scandal Inside the global supply chains of 50 top companies Frontlines Report 2016 Contents Foreword ............................................................................................................3 1. How the world’s largest companies built a global business model on low wage workers, with few rights, in unsafe workplaces ............. 6 2. Profits and workers: 50 companies with the power to reduce inequality .......................................................................................10 3. Company profiles: A look inside 25 companies and their global supply chains ...........................................................................16 4. Evidence of forced labour in global supply chains .......................... 33 5. Testimony from Cambodia: Low-wage workers in global supply chains ..................................................................................................36 6. Scandal reportage: Episode previews ................................................38 Appendix: Methodology ...............................................................................41 Cover Photo: Steve Juvetson under CCBY 2.0 via Wikimedia Commons Foreword ITUC Frontlines Report 2016 3 ITUC Frontlines Report 2016 Why is the global business model in such bad shape? With global GDP having trebled in just 30 years and The 50 companies listed in this report could act to major corporations commanding 60 per cent of global change the model of global trade. production, transport and services through their supply chains, the
    [Show full text]
  • Buy Pou Sheng
    Deutsche Bank Markets Research Rating Company Date 26 September 2016 Buy Pou Sheng Initiation of Coverage Asia China Reuters Bloomberg Exchange Ticker Price at 23 Sep 2016 (HKD) 2.64 Consumer 3813.HK 3813 HK HSI 3813 Price target - 12mth (HKD) 3.40 Retail / Wholesale Trade 52-week range (HKD) 2.78 - 1.19 HANG SENG INDEX 23,686 At the centre stage of growth; John Chou Anne Ling initiating with Buy Research Analyst Research Analyst (+852 ) 2203 6196 (+852 ) 2203 6177 Dual driving forces from international brands and channel brand efforts [email protected] [email protected] China’s importance as a market for international sports brands continues to rise, inspiring structural growth for leading distributors like Pou Sheng (PS). We forecast PS will become a more efficient player in distributing products for Price/price relative international brands. At the same time, PS has been aggressively enhancing its 3.2 own channel brands through multi-brand stores and e-commerce. We forecast 2.8 2.4 PS’s revenue to post a 13% CAGR in 2015-20E (driven by network expansion 2.0 and SSSg equally), an earnings CAGR of 37%, driven by revenue growth and 1.6 margin expansion. Our DCF-based target price implies 14x 2017E PER, Buy. 1.2 0.8 0.4 Growing with international brands’ long-term targets… 9/14 3/15 9/15 3/16 We forecast PS will enjoy structural growth driven by intentional brands’ well- Pou Sheng planned expansion in China. Accounting for c.20% of Nike and Adidas sell- HANG SENG INDEX (Rebased) through in China (Figure 14), we believe that PS is well embedded in the Performance (%) 1m 3m 12m brands’ growth schemes.
    [Show full text]