Opaque travel inventory

Fast fashion still comes with deadly risks, 10 years after the Rana Plaza disaster – the industry's many moving pieces make it easy to cut corners

Retrieved on: 
Saturday, April 22, 2023

On April 24, 2013, a multistory garment factory complex in Bangladesh called Rana Plaza collapsed, killing more than 1,000 workers and injuring another 2,500.

Key Points: 
  • On April 24, 2013, a multistory garment factory complex in Bangladesh called Rana Plaza collapsed, killing more than 1,000 workers and injuring another 2,500.
  • It remains the worst accident in the history of the apparel industry and one of the deadliest industrial accidents in the world.

Shamed into action?

    • While the government had stringent building codes “on the books,” they were rarely enforced.
    • Most workers lacked the information and power to demand safe working conditions.
    • The coalitions conducted factory inspections to identify structural and electrical deficiencies and developed plans for factories to make improvements.
    • Member companies set aside funds for inspections and worker training, negotiated commercial terms and facilitated low-cost loans for factory improvements.

The record since

    • At the end of five years, both initiatives reported that 85%-88% of safety issues were remediated.
    • In addition, more than 5,000 beneficiaries, including injured workers and dependents of victims, were compensated through the Rana Plaza Arrangement, receiving an average of about US$6,500.
    • Overall, I believe that these initiatives have been successful in bringing safety issues to the forefront.

Clothes yesterday and today

    • In the 1960s, the average American family spent 10% of its income on clothing, buying 25 pieces of apparel – almost all of it made in the United States.
    • Over these decades, low-income countries in Asia and Latin America started producing more garments and textiles.
    • Apparel production is labor-intensive, meaning these countries’ lower wages were a huge attraction to brands and retailers, who gradually started shifting their sourcing.
    • To meet the rapid growth of the apparel industry, however, many buildings were converted to factories as quickly as possible, often without requisite permits.

Everyone and no one

    • This can translate into exploitative labor practices or unsafe conditions that violate local laws, but enforcement capacity is weak.
    • The supply chain’s opaqueness, especially when brands do not source directly, makes it difficult to investigate and remediate these practices.
    • This complex system makes it hard to assign ethical responsibility, because everyone, and therefore no one, is guilty.

Fintech Anyfin raises €30 million Series C funding to further accelerate expansion across Europe

Retrieved on: 
Wednesday, January 18, 2023

The capital will fuel the growth of its business across Europe, as well as helping Anyfin to strengthen its product suite in existing Europe markets.

Key Points: 
  • The capital will fuel the growth of its business across Europe, as well as helping Anyfin to strengthen its product suite in existing Europe markets.
  • The cost of living crisis has been impacting customers worldwide and is increasing at its fastest rate in 40 years.
  • The macro environment has a massive impact on household budgets, affecting consumers' financial wellbeing and business' balance sheets.
  • Anfin's Series C round is led by existing investor Northzone, alongside existing investors Accel, EQT Ventures, FinTech Collective, Quadrille Capital and Augmentum FinTech and new investor Citi Ventures.

Linkstory Announces the Launch of Online Mentoring Services for College Admissions

Retrieved on: 
Friday, October 28, 2022

LEWES, Del., Oct. 28, 2022 /PRNewswire/ -- With the vision to democratize college admissions consulting to anyone of need, Ed tech startup, Linkstory, has successfully soft launched its online mentoring service in September, 2022. Linkstory attempts to solve the problem of the daunting and unclear college admission process. As the subjective factors of admissions (essays and extracurriculars) become more important, the opaqueness continues to rise, which makes it more difficult for students to figure out their applications to their dream schools. By offering mentoring services to focus on personalized subjective factors at an affordable price (~$50/session), Linkstory hopes to bring about transparency to the admissions market.

Key Points: 
  • LEWES, Del., Oct. 28, 2022 /PRNewswire/ --With the vision to democratize college admissions consulting to anyone of need, Ed tech startup, Linkstory, has successfully soft launched its online mentoring service in September, 2022.
  • By offering mentoring services to focus on personalized subjective factors at an affordable price (~$50/session), Linkstory hopes to bring about transparency to the admissions market.
  • Linkstory will offer services, such as one-on-one mentoring services for general consulting, interviews, and resume proofreading.
  • Linkstory provides one-on-one live mentoring services to high school students, which cover a wide range of topics regarding secondary school admissions on a pay-as-you-go basis.

Pablo Soria de Lachica Discusses the Longer-Term Outlook for Bitcoin Prices after Recent Surge

Retrieved on: 
Wednesday, October 13, 2021

"Support from large institutional investors is critical for legitimizing Bitcoin and introducing some stability in this market," says prominent forex broker Pablo Soria de Lachica.

Key Points: 
  • "Support from large institutional investors is critical for legitimizing Bitcoin and introducing some stability in this market," says prominent forex broker Pablo Soria de Lachica.
  • Pablo Soria de Lachica is an international trading specialist who has gained a reputation as one of the world's foremost forex experts.
  • Most recently, Pablo Soria de Lachica has been associated with Kartoshka , a company introducing the latest technological solutions in sales, telemarketing, and customer support.
  • Pablo Soria de Lachica - Foreign Exchange Specialist: http://PabloSoriaDeLachicaNews.com
    Pablo Soria de Lachica Examines Reasons Behind the Recent Spike in Bitcoin Prices: https://www.yahoo.com/now/pablo-soria-lachica-examines-reasons-074000847...
    Pablo Soria de Lachica on Bitcoin's Price Response to the Growing Involvement of Large and Institutional Investors: https://www.yahoo.com/now/pablo-soria-lachica-bitcoins-price-100000462.html