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Analyst Downgrades Apple In Move to Teach Wall Street New Word: Moral. Outrage Ensues.
Apparently for the first time, an analyst has downgraded - or in Wall-Street-speak, blacklisted - several big companies on moral and ethical grounds, moving their stock from a "hold" to "sell" recommendation based on the "obscene" way the companies are run. Ronnie Moas of Standpoint Research had already blasted Amazon - "Jeff Bezos (has) $27 billion and this man is not treating his workers fairly?" - and Philip Morris - they have "the black lungs and blood of 500,000,000 people on their hands" - but added Apple for "treating their workers like animals" despite their vast profits. The move by Moas, who says he'd like to blacklist scores of other companies, was met with calls to buy Apple, questions about his judgment and mental health, and howls of derision: "Moas is bashing Apple because, get this, it is profitable... In other words, Standpoint "Research" (has) finally discovered capitalism." Uh, yeah, that's his point.
"For Apple Computers to pay their workers $2 an hour while they have $150 billion in the bank is nothing short of obscene. They have workers who are doing back-breaking and eye-burning work in depressed states of mind and in many instances have already committed suicide. Instead of treating their employees like human beings, they are treated like animals."