<?xml version="1.0" encoding="UTF-8"?>
<rss version="2.0"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:wfw="http://wellformedweb.org/CommentAPI/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
	xmlns:slash="http://purl.org/rss/1.0/modules/slash/"
	>

<channel>
	<title>Industry Buzz</title>
	<atom:link href="http://industrybuzz.net/?feed=rss2" rel="self" type="application/rss+xml" />
	<link>http://industrybuzz.net</link>
	<description>Companies and News Stories to Watch</description>
	<lastBuildDate>Tue, 01 Jun 2010 14:54:00 +0000</lastBuildDate>
	<generator>http://wordpress.org/?v=2.8.6</generator>
	<language>en</language>
	<sy:updatePeriod>hourly</sy:updatePeriod>
	<sy:updateFrequency>1</sy:updateFrequency>
			<item>
		<title>Apple, HP, Dell Looking into Workers’ Suicides at Foxconn</title>
		<link>http://industrybuzz.net/?p=6</link>
		<comments>http://industrybuzz.net/?p=6#comments</comments>
		<pubDate>Tue, 01 Jun 2010 14:54:00 +0000</pubDate>
		<dc:creator>apapenhagen</dc:creator>
				<category><![CDATA[Apple News]]></category>
		<category><![CDATA[Dell News]]></category>
		<category><![CDATA[HP News]]></category>
		<category><![CDATA[The Watch List]]></category>

		<guid isPermaLink="false">http://industrybuzz.net/?p=6</guid>
		<description><![CDATA[Apple, (AAPL), Hewlett-Packard, (HPQ), and Dell (DELL) have announced that they are launching an investigation into the working conditions at Foxconn (HKG:2038). The Foxconn Technology Group, also known as Taiwan’s Hon Hai Group, is the world’s largest contract manufacturer. The probe was started after the companies learned about a mounting number of suicides at the [...]]]></description>
			<content:encoded><![CDATA[<p>Apple, (<a href="http://www.google.com/finance?q=NASDAQ%3AAAPL">AAPL</a>), Hewlett-Packard, (<a href="http://www.google.com/finance?q=Hewlett+Packard">HPQ</a>), and Dell (<a href="http://www.google.com/finance?client=ob&amp;q=NASDAQ:DELL">DELL</a>) have announced that they are launching an investigation into the working conditions at Foxconn (<a href="http://www.google.com/finance?q=HKG:2038">HKG:2038)</a>. The <a href="http://www.foxconn.com/">Foxconn Technology Group</a>, also known as Taiwan’s Hon Hai Group, is the world’s largest contract manufacturer. The probe was started after the companies learned about a mounting number of suicides at the group. According to a Hon Hai official, there were nine suicides and two attempts at the Chinese operations this year, and at least four of the deaths occurred in May.</p>
<p><a href="http://www.crunchbase.com/bloggerboard/tech/publication/apple/by/steve-dowling">Steve Dowling</a>, a spokesman at the California-based maker of <a href="http://www.apple.com/iphone">iPhones</a> and <a href="http://www.apple.com/ipad">iPads</a>, said that Apple is “saddened and upset” by the suicides and has a team evaluating Hon Hai’s countermeasures. He stated: “we’re in direct contact with Foxconn senior management. Apple is deeply committed to ensuring that conditions throughout our supply chain are safe and workers are treated with respect and dignity.”</p>
<p>HP is also probing Hon Hai’s practices. HP stated that it is investigating “the Foxconn practices that may be associated with these tragic events.”</p>
<p>Dell announced that it is examining reports on Foxconn. <a href="http://www.spoke.com/info/pGfa1E/JessBlackburn">Jess Blackburn</a>, a spokesman for Dell stated: &#8220;any reports of poor working conditions in Dell’s supply chain are investigated. We expect our suppliers to employ the same high standards we do.&#8221;</p>
<p>These investigations put huge pressure on billionaire Chairman <a href="http://online.wsj.com/article/SB118677584137994489.html">Terry Gou</a>, who on May 26 opened Hon Hai’s biggest Chinese production site to the media in an effort to defend working conditions that some labor-rights groups describe as a “<a href="http://en.wikipedia.org/wiki/Sweatshop">sweatshop</a>.” The fallout threatens to disrupt a $40-billion-a-year operation that builds everything from iPhones to desktop computers and televisions.</p>
<p>“Hon Hai needs to resolve the issue because the situation is also negative for Apple and HP,” said Allen Pu, an analyst at <a href="http://www.fubon.com/">Fubon Securities</a> in Taipei who recommends investors “add” shares of Hon Hai Precision Industry, the group’s flagship. “Clients may reallocate some orders to other manufacturers, though I still see Hon Hai keeping its role as the main supplier because no one else has such sizeable operations.”</p>
<p>According to <a href="http://www.ubs.com/">UBS AG </a>analyst <a href="http://pulse.alacra.com/analyst-comments/Arthur_Hsieh-A20029">Arthur Hsieh</a>, the fact that the chairman opened the manufacturing facilities to the media, shows the level of scrutiny the company is currently facing. Taipei-based Hsieh added: “this has never been seen before, it’s really unusual times. It’s crisis control.”</p>
]]></content:encoded>
			<wfw:commentRss>http://industrybuzz.net/?feed=rss2&amp;p=6</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>American DG Energy Raises $3.5 million</title>
		<link>http://industrybuzz.net/?p=4</link>
		<comments>http://industrybuzz.net/?p=4#comments</comments>
		<pubDate>Fri, 21 May 2010 11:13:22 +0000</pubDate>
		<dc:creator>apapenhagen</dc:creator>
				<category><![CDATA[The Watch List]]></category>

		<guid isPermaLink="false">http://industrybuzz.net/?p=4</guid>
		<description><![CDATA[WALTHAM, Mass. &#8212; American DG Energy, a leading on-site utility provider of electricity, heat, cooling, and hot water, has raised $3.5 million from private placements of stock to help with plans to install more on-site energy systems. The company sold 1.67 million shares of restricted common stock at $2.10 per share to investors, who were [...]]]></description>
			<content:encoded><![CDATA[<p>WALTHAM, Mass. &#8212; American DG Energy, a leading on-site utility provider of electricity, heat, cooling, and hot water, has raised $3.5 million from private placements of stock to help with plans to install more on-site energy systems. The company sold 1.67 million shares of restricted common stock at $2.10 per share to investors, who were not identified in published reports. The investors have also been given the right to purchase additional shares at $3.10 per share.</p>
<p>American DG Energy (OTC:ADGE) was founded by George Hatsopoulos and John Hatsopoulos, co-founders of Thermo Electron (now Thermo Fisher Scientific). According to the website of <a href="http://www.americandg.com/">American DG Energy</a>, the company sells energy at between 5 to 15 percent below current costs. The firm incorporates American DG equipment with a client&#8217;s existing energy systems. The company <a href="http://www.masshightech.com/stories/2009/04/27/daily8-American-DG-Energy-lands-22M-private-placement.html">raised $2.2 million</a> in April from a similar sale.</p>
<p>American DG Energy also has operations facilities in Connecticut and New Jersey. The company reported a net loss of $2.3 million in 2008.</p>
]]></content:encoded>
			<wfw:commentRss>http://industrybuzz.net/?feed=rss2&amp;p=4</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
	</channel>
</rss>
