Word: cheap
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Dates: during 2000-2009
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...ecological responsibility, the fund insists, is key to safeguarding its own financial returns. Take children's rights. If children are denied schooling and forced to earn a living prematurely, they grow up to be less productive workers with fewer skills. While a current employer may benefit from their cheap labor, future employers will lose out. For Norway's fund, it's a concern - both ethically and economically - that "the action of one company may influence the profitability of another," says Yngve Slyngstad, CEO of Norges Bank Investment Management, the part of Norway's central bank that runs the fund...
...American TV personality Kathie Lee Gifford had been produced using child labor in Honduran sweatshops. Gifford sobbed on air, saying she hadn't been aware of conditions at the factory. For corporations and consumers alike, it brought home the realization that globalized production comes at a price: the cheap labor that lured multinationals to developing countries often goes hand in hand with less appealing hallmarks of developing nations - harsh working conditions and unenforced labor laws. Governments in most developing nations weren't monitoring conditions, so Western firms found themselves "held responsible for problems they didn't really know existed," says...
...company that owns the Chrysler Building. A year later he acquired a minority share in the Flatiron, which today is valued at a total of $180 million. With the latest deal, he holds a 53% share of the famous building. "The Flatiron is expensive, but with the [cheap] dollar, it made sense to increase our share," says Mainetti. "The stability of the New York real estate market is unique. This current crisis will pass, and the dollar will re-establish itself. We are confident...
...course, such access doesn't come cheap. A general membership can cost $1500 per year. An elite membership, which comes with a personal concierge available 24 hours a day, costs-well, if you have to ask, you probably can't afford it. "We're not saying Quintessentially is for everyone," Elliot admits. Those of us who can't afford an invite to the party will just have to find our Patagonian blueberries and albino peacocks elsewhere...
...cheap power? Not really, Grimshaw admits. "It's more sophisticated than incineration, it is an advanced technology, so it has a pricetag." A big reason for Britain's landfill addiction is that it's relatively inexpensive to bury rubbish. But those looming E.U. fines if biodegradable waste limits aren't met are making gasification cost-competitive. Certainly Energos wants the Isle of Wight plant to sell the concept to other communities in the U.K., Europe and beyond. Which is why it's also erecting something rarely seen at a power plant: a visitors' center...