Private Eye Number Crunching

[Hymie]

$1.1m – Amount Benneton, which was supplied by collapsed Rana Plaza garment factory in Bangladesh, finally gave to compensation fund for families of 1,134 victims just ahead of the second anniversary of the tragedy

$121m – Amount Benneton spends each year on advertising aimed at provoking thought about global injustice

[Buenchico]

Why should Benetton be responsible for the practices (such as building safety inspections) of external contractors? If I was a Benetton shareholder I'd be complaining vociferously that they firm had paid out a single cent to the families in Bangladesh.

[Gromit]

Big companies have a responsibility to check that their supply chain is not exploitative or life endangering people. They do that partly out of self interest. If their company name is associated with avoidable catastrophies such as a building collapse killing hundreds of people, then their brand is tarnished. And that could dent sales and profits. But this is big business, so if a problem (lots of dead workers) arises, they will try to pay as little as possible to make things better.
The hypicrisy of a company that preaches ethical trading and global equality, then paying out a pittance to third world victims of their supply chain, is what makes the Number Crunch interesting.

[DTCwordfan]

Allowing for the purchasing power of the taka against the dollar, about right I would say.

[Gromit]

Buenchico.

Apple the iDevice maker made 633 supplier audits last year, such is its fear of any more bad publicity about bad conditions in its suppliers factories.

It spends considerably more than $1.1million compiling its Resposibility Report.

http://appleinsider.com/articles/15/02/11/apple-releases-2015-supplier-responsibility-report-targets-the-end-of-bonded-servitude-practices

[Hymie]

Well there you are, the life of someone in the third world is worth less than $1,000