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Foxconn Accused of Taking Bribes
judgecorp writes "Device manufacturer Foxconn has been accused of taking bribes from local suppliers. The issue has been reported in Taiwan's Next magazine, and picked up by the China Post — and is being investigated by the Chinese authorities."
The real story is who did they piss off enough in the Chinese government that the law is actually going enforced.
"How shocked?" You ask? Shocked exactly to the point that my water army commanding officer pays me to be -- and not one yuan more!
My work here is dung.
A company I worked for had that happen, their Chinese manufacturer used counterfeit components from a shady supplier. Among those components were power transistors and voltage regulators which started exploding in our customers' medical devices. Fortunately we were able to treat their repairs as upgrades rather than a recall.
We have to thank our squinty-eyed friends, they are giving us reasons to move our manufacturing back into the 'states, or at least closer to home.
-- Ethanol-fueled
From the Department of No Shit at our friends at Taiwan's Next magazine.
Anyone surprised?
Linux O Muerte!
Unless I am missing something, it looks like Foxconn was the victim here. One of their employees was accused of taking bribes from a supplier, in order to give the supplier a contract from Foxconn. So the employee get the money, and Foxconn loses money by paying to much.
The reason that you have to take all those anti-bribery / anti-corruption classes is not because of a theoretical chance that you might be put in those situations. It's because that certain countries, bribery is the expected way of doing business.
This headline is really badly written.
A few high level Foxconn employees have been accused of taking bribes, by Foxconn. Foxconn called in the law enforcement on both sides of the Taiwan Strait, and is working with them to capture all the responsible parties. So rather than Foxconn taking bribes, it's Foxconn employees abusing their power, and embezzling against Foxconn by taking bribes from suppliers.
Foxconn taking bribes? I'm shocked! Shocked!
There is absolutely nothing wrong, or even particularly shameful about accepting a bribe, unless you are accepting it in exchange for a favor that is illegal or otherwise considered unethical.
File under 'M' for 'Manic ranting'
This headline is really badly written. A few high level Foxconn employees have been accused of taking bribes, by Foxconn. Foxconn called in the law enforcement on both sides of the Taiwan Strait, and is working with them to capture all the responsible parties. So rather than Foxconn taking bribes, it's Foxconn employees abusing their power, and embezzling against Foxconn by taking bribes from suppliers.
How are "High level employees" with business decision making powers, directorships, fiduciary responsibility and strategic control NOT considered foxconn? That's like saying "Oh no, that police officer acted on his own - the entire department isn't racist" when you find out that the chief, the deputy chief, the head of HR and all the duty sergeants are high ranking members of the KKK.
So, you're technically correct - foxconn, the corporation, did not engage in bribery - but in essence, the company DID, and was not significantly negatively impacted. I bet if I read the article, I could even figure out if they profited from the bribes...
- Nec Impar Pluribus, or so I'm told.
This headline is really badly written.
No, the headline offers a different perspective than you do. One that from the looks of it is more accurate than yours. A few high levels officials taking bribes, and the words "long established practice" more than add up to this being a systemic problem (and thus something part of Foxconn) rather than some isolated incidents. Neither article mentions anything about Foxconn calling the police about the bribes.
AccountKiller
I can tell you that if my local police department started up a serious investigation to weed out corrupt cops, I would be happy about it. If they found that he Chief of police was the ringleader and promptly filed charges against him, I would be shocked at our community's good fortune. If the above comments are correct, and it was Foxconn themselves that initiated the complaint, then they are cleaning up their own house and should be commended.
How are "High level employees" with business decision making powers, directorships, fiduciary responsibility and strategic control NOT considered foxconn?
Maybe this will help explain:
A bank employee embezzles from his employer. Headline reads: Bank steals money.
See the problem now?
Here, why don't you read this: http://news.cnet.com/8301-1001_3-57563189-92/chinese-authorities-probe-foxconn-bribery-charges/ Foxconn is cooperating with Chinese authorities investigating allegations that executives at the electronics manufacturer received illegal bribes from supply chain partners. The company, which produces consumer electronics for companies such as Apple, Microsoft, Hewlett-Packard, Dell, and Sony, said in a statement that it brought in law enforcement officials to work with an internal audit team investigating the charges "against a number of Foxconn employees." The statement comes after Taiwan-based Next Magazine reported that a Foxconn executive had been arrested in September as part of the allegations. When queried by CNET, a Foxconn representative declined to address whether an executive had been arrested. "Since the matter is under investigation, we are not able to comment further," Foxconn said in a statement. "However, we can say that the integrity of our employees is something we take very seriously and any employees found guilty of any illegal actions or violations of our company's Code of Conduct will be prosecuted to the fullest extent of the law." "We are also carrying out a full review of our policies and practices to identify steps we can take to strengthen such measures to further mitigate against such actions," the company added.
How are "High level employees" with business decision making powers, directorships, fiduciary responsibility and strategic control NOT considered foxconn?
Maybe this will help explain: A bank employee embezzles from his employer. Headline reads: Bank steals money. See the problem now?
No, I don't. Because that's a false equivalency.
Anyone who is taking (or giving) bribes to generate business will also be (by default) in possession or use of money they don't deserve. Of course the officials engaged in bribery were also "embezzling". They were using (or receiving) money they didn't earn, that didn't go on the company books. It's an indirect result of the bribery. Yes, it's wrong, but it is (well, could be) incidental. I'm willing to admit I might be wrong about this, but embezzlement would come with any charges of bribery.
It's like getting accused of murder - you caused harm and are probably guilty of assault.
- Nec Impar Pluribus, or so I'm told.
>and is being investigated by the Chinese authorities
They're probably upset they were cut out of the bribe deals
Given how much Foxconn has done against its own and how far they've gone to hide it (and to attack the character of those who expose it), I am not surprised.
Twitter supports and protects racists - by smearing their critics with the "Hate Speech" label.
Sorry, but I don't take press releases by companies accused of bribery very seriously. Why should I? Do you just automatically believe the guy that said "I didn't do it?". If the police announced the same thing that might be something worth considering as a real source of information.
AccountKiller