This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Apple Manufacturer Has 'Tons of Issues,' Auditor Discovers

NEW YORK ( TheStreet) -- An auditor at one of Apple's (AAPL - Get Report) Chinese manufacturing plants has found "tons of issues," according to a published media report.

An auditor from the Fair Labor Association went into Foxconn Technology Group, one of Apple's Chinese manufacturers, and found several issues that will need to be addressed, Bloomberg reports.

Earlier this week, Apple said it is conducting special voluntary audits of its plants.

The head of the Fair Labor Association, Auret van Heerden, spoke with Bloomberg and said he believes there will be "some very significant announcements in the near future," but did not go into detail about the findings.

Apple has come under fire recently for alleged labor practices at its Chinese manufacturers. The iPhone maker's CEO, Tim Cook, addressed the issue in an internal letter to employees, as well as at a recent investor conference. "Apple takes working conditions very, very seriously," said Cook, during the event, run by Goldman Sachs. "We care about every worker - we believe that every worker has a right to a fair and safe work environment."

Shares of Apple fell 0.02% to close at $502.12 on Friday.

Apple has not yet responded to a request for comment on this story.

Interested in more on Apple? See TheStreet Ratings' report card for this stock.

Check out our new tech blog, Tech Trends.

-- Written by Chris Ciaccia in New York

>To follow the writer on Twitter, go to http://twitter.com/commodity_bull.

>To submit a news tip, send an email to: tips@thestreet.com

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $130.28 0.47%
FB $81.53 -1.07%
GOOG $565.06 3.30%
TSLA $218.42 -0.08%
YHOO $44.52 1.89%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs