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Giant responding to the decision by US Customs and Border Patrol to block import of goods from Giant's Taiwanese factories following reports of conditions amounting to forced labor for the workforce there. Seems like they are stepping up to acknowledge and correct any shortcomings:
Giant Group announced today (15th) that in addition to the implementation of a "Zero Recruitment Fee Policy" for all newly recruited foreign migrant workers effective January 1, 2025—with the company continuing to bear all recruitment fees, service charges, and related government costs—Giant Group is currently commissioning a renowned international third-party adviser to identify, assess, and develop a comprehensive compensation plan to reimburse current migrant workers hired before January 1, 2025, for their previous recruitment expenses.
Giant Group has already initiated the first phase of fee reimbursement payment this week to demonstrate its commitment. Giant has made the provision in the book with sufficient funding ability to support the payment so Giant can ensure all migrant workers receive what they are eligible for. This is a further concrete action to fulfill the company’s commitment to human rights and fair employment practices.
At the same time, Giant Group has completed the relocation of all migrant worker dormitories, with a total of 400 more workers moving into two newly built facilities located in Yuanli, Miaoli, and Waipu, Taichung. The previous Rinan dormitory was limited by its age and space constraints. The new dormitories were designed and upgraded in line with international labor and human rights standards, providing a safe, healthy, and respectful living environment that meets fire protection, construction, and public safety requirements. Each dormitory features eight-person rooms, private bathrooms, dining and leisure areas, and basic fitness equipment, as well as fire protection systems and dedicated management personnel. These dormitories significantly enhance overall living quality and demonstrate the company’s determination to continuously improve living and working conditions.
This policy expansion and dormitory relocation form part of Giant Group’s long-term Migrant Worker Rights Enhancement Program. Since 2024, the Group has steadily advanced this Program, demonstrating its ongoing commitment to self-assessment and improvement in accordance with international human rights standards. Respect, equality, and responsibility are the core values of Giant Group’s corporate culture, and the Group will continue holding itself to the highest standards to build a safe, dignified, and sustainable working and living environment.
More information is available at the official CBP WRO website: https://esg.giantgroup-cycling.com/en-US/prresponse01.
"EX-STROMER CEO LAUNCHES VIIALA TO DISRUPT E-BIKE INDUSTRY"
Wannabe Tech VC language makes me want to barf up my breakfast.
The glowing language about the dorm upgrade being accompanied by the photo of said dorm is hilarious. Is that supposed to be the improved version?
It’s also interesting that Trek claims they did an audit of GTM earlier this year and didn’t find any evidence of CBPs allegations, so who is Giant paying back?
Anyone wanna buy some YT stuff?
Count me in!
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I really interested in how this works... I read something regarding a " home country agent" who charges several thousand dollars to a worker.. I'm guessing this person is like an employment agency here? Seeing the Giant dorms is like the old mining towns where the miners paid for company housing.. Definitely a different world..
Same thing hotels and Tim Hortons does in BC. Charge people a fee to get a job. Charge them a fee to get a visa. Charge them a fee above and beyond the PR costs and have them work off that amount. Fire them unannounced and stop their PR application so they can’t come back.
Really a shame to see it get so much attention in Taiwan and yet it goes on daily here at home.
https://www.yt-industries.com/en-uk/demo-a-yt-bike/YT-MILL-Showroom/?s=Surrey+Hills
TEMPORARILY CLOSED
They may be surprised to find everything has been auctioned off when they reopen. 🤣
The fallout of the life of remittances under precarity is always under-investment and under development in countries of origin.
If you enjoy heterdox economics as much as i do, Immanuel Ness has written extensively on the subject, his most recent text, Migration As Economic Imperialism: How International Labor Mobility Undermines Economic Development in Poor Countries (2023) is impeccably researched and readable(if you already understand surplus value and exchange value).
Of all the things being auctioned off as a result of YT's closure, this one really spoke to me.
What is the auction house thinking putting a reserve on those displays? Who do they think is buying those extremely specific, large marketing displays?
Harry Potter fans, of course.
In all seriousness, the fact that someone at YT was manic enough to say, “...and we’ll get the Harry Potter set designer to do the displays!”, and then actually made it happen, says everything you need to know about the culture. I mean, I can kind of understand the Christopher Walken bike launch video. I'd never agree to it, but at least I sort of get it. This? HA! Nobody cares about bike displays, let alone cares so much to pay a top tier (I assume) set developer to build one.
Bonkers.
Yep. In between how much I just paid for this DJer, how much those Greer/Daley models are going for, and the head tilts I got from 2 separate bike shops remarking 'are they still in business? we stopped dealing with them a year ago'...
Seems to be a matter of time. I would say any bike I buy spells doom for the company at this rate but... We just bought a Specialized commuter for my GF so truly there will be no bigger test for whether a brand can survive my curse. If the big S goes under within a year, screen shot this comment lol
I don’t think it’s been publicized at all, but word is Cane Creek just laid off a good amount of people and seems to be feeling the overall bike crunch. I’m not sure they are at risk of going under, but they have made some significant cuts.
I'll save that screenshot... 😆
As for Haro, it seems like a combination of bad choices (Who was asking for high end carbon Haro road bikes?) and bad timing (The post COVID bike bust)..
well they took on that CEO from cannondale/specialized or whatever... over 2 years ago. right in the middle of the bursting of the bubble. I feel like Haro could print money with big wheels BMXs, budget BMXs (for kids, mostly), and then a variety of affordable dirt jumpers, some hardtails, and a very basic full suspension.
which they ALMOST did. almost, kinda. like you say there was ZERO reason to dip in to 'new' markets during an industry down turn. where they have zero precedent to my knowledge. doesn't even fit their image/reputation. meanwhile I thought the basic hardtail and some of the FS builds were rad and sensible price-wise.
the big wheel BMX thing alone should be a money printer for them. like doing LE releases and profiting off of hype beast weirdos who care more about looks and clout than actual performance or value.
Totally forgot about the new CEO.. Haro seems to have kinda missed the market on the Big BMX market. Their nicer models were pretty high priced and the lower priced bikes were criticized for being to cheaply speced.. That market seems to fit the barbell model..
Gt and now Haro. Feel like my childhood is under attack.
Whoever was doing drop bar product management and copy writing at Haro ripped off a bunch of copy and graphic design work I developed for a client.
Not too mad too see this interation fail.
Going back to earlier parts of this thread- Haro is a bit of an odd duck. I might blame Bjarke for ripping off my clients, but ultimately Haro is owned by a Taiwanese family(generally referred to as Kenstone) that is heavily involved with aluminum tube production on the island and mainland.
If you talk to the insiders that do the micro-importation of aluminum bike tubes into the USA, they blame the cartel that owns Haro as being a major obstacle to getting the Good Shit out of Asia in quantities that make a difference… it’s why everyone domestically that wants good butted tubing has to work with Dedacai in Italy.
Either way, importing tubing instead of complete frames didn’t work before an extreme tarrif regime, and it’s even less viable now.
Don't worry. They had to slide the other 15 bunks into the hallway to take the photo. 🙃
plus that over 6000$ gucci coffee machine.
imagine not being flush for several years but spending money like you‘re specialized, santa cruz, pinarello etc. 😅
Rich dude - "Fake it til you make it."
Poor dude - "...and if I don't make it."
Rich dude - "I gotta take this next call."
The Haro bit seems like a Bold Management Decision that just happened to backfire. The bikes don't look bad, even the road and grav bikes, but it was a heckuva bad time to go all in on crab links when so many other more established players were already out there doing the same. Especially so when the prices (at MSRP at least) aren't compelling enough to sway away from those same players. I don't think the brand's history resonated the way they anticipated it to. They never had the cache/panache that GT did in the MTB and road worlds.
How recent is the new ceo?
Given product cycles and general atmosphere in the industry wouldn’t be shocked if the last ceo saw what was coming and handed off the sinking ship to the next guy.
Anyone seen the Pole bikes CEO’s latest vid on Instagram? Bankruptcy settled, and Pole ‘reopening’ with new bikes on their way.
I’ll let everyone make up their own minds once they’ve seen it…
Also, he's sorry about the 30 customers that paid and didn't get their bikes.
#wheresmylaher
2023. Remember, he came from Specialized, aka the people that are still sitting on softgoods and bikes they massively over-ordered during the pandemic, because they were led by a vacuum cleaner salesman.
Kenstone felt like they were “missing out” because they had zero bikes during peak bull-whip effect, a bummer for them because they are vertically integrated… they were getting huge orders from OE customers like YT that had… p.e. backing and leadership that didn’t understand the bike business. I’m too lazy to go look, but i’m gonna guess YT owes Kenstone a bagillion dollars. Norco, Cervelo and Forbidden are all Kenstone OE partners, so you can see how the board would be antsy to improve performance in one of their verticals.
There has been legal action in Kenstone v Haro in So Cal federal courts for the last 2 years, ramping up the last few weeks but as a layperson I don’t have access to the filings, just the notices, Dec 8 is the date set for a jury trial.
Plenty of time to go buy popcorn.
It’s not like they would want their money back or anything. I’m sure a “sorry” is enough.
I hope no one buys anything from this guy until he either gives people their money back or give them the shit they ordered.
When we hear they didn't get their bikes, do we have any confirmation that he kept the money?
A lawyer friend was nice enough to download the first 20 pages of the Kenstone V Haro brief for me.
The most telling thing: The ceo of Kenstone made herself the ceo of Haro and her cousin the sales manager, allowed way too much stuff ordered on her watch, installed the new CEO, and now Kenstone is looking for about $3mil USD in damages from Haro in a jury trial.
🤣
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