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Analyst Downgrades Apple In Move to Teach Wall Street New Word: Moral. Outrage Ensues


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Analyst Downgrades Apple In Move to Teach Wall Street New Word: Moral. Outrage Ensues.

Abby Zimet

Apparently for the first time, an analyst has downgraded - or in Wall-Street-speak, blacklisted - several companies, urging people to sell their stock on moral and ethical grounds. Ronnie Moas of Standpoint Research had already blasted Amazon - "Jeff Bezos (has) $27 billion and (is) not treating his workers fairly?" - and Philip Morris - "the blood of 500,000,000 people on their hands" - but added Apple for "treating their workers like animals," despite vast profits. His act was met with snide questions about his mental health and howls of derision: "Moas is bashing Apple because, get this, it is profitable...In other words, (he has) 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."