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sicqnus
10-16-2008, 04:21 PM
Today, October 16, two of the biggest factories of the Hejun Corporation located in Dongguan - China went into bankrupcy.
The workers (slaves ?) of Zhangmutou's factory were on strike (since oct. 14) because they haven't been paid since July. The court said the workers were right but the Hejun corp. just closed today Zhangmutou's fatory leaving 6500 people jobless (and without any help of any kind).

Hejun group is producing the TOYS for five of the biggest world toys companies (including HASBRO and MATTEL).

The financial crisis is hitting Asia pretty hard this week. The Titaniums are made there.

What does it means ?

Probably huge delays for the next waves of Titaniums.
Constant, incremental price hikes for the Hasbro products.
Some lines will eventually disappear.

sergiurusu
10-17-2008, 04:37 AM
The economical problems are global now, affecting all of us all over the world.

JediTricks
10-17-2008, 06:15 AM
Sic, can you get a source on that info? I'd like to post it in the news.

That's utterly crazy. Since July, no less, that's nuts.

Darth Duranium
10-17-2008, 11:19 AM
Hey JT,

Check out AFP:

"A total of 3,631 enterprises that made toys for export, or 52.7 percent of all such companies, had gone out of business in the first seven months of the year, Xinhua news agency reported."

http://afp.google.com/article/ALeqM5iM4VoCichBkV1ycZLunpBNUucEuA

The company names are different but it's the same corporate entity, I believe. Hard to tell, these days.

I saw another report on BBC World today that showed another toy factory in China that has 7 employees... down from 600 last year.

It's gettin' mighty fugly out there.

JediTricks
10-18-2008, 04:44 PM
How can you tell it's the one that makes Titaniums?